Technology
China AI player Mobvoi files for Hong Kong IPO
Mobvoi, which claims to be China’s largest revenue-generating artificial intelligence (AI) company focusing on content generation, has filed for a Hong Kong IPO.
Deal focus: Prosperity7 supports gradual ascent to L4
Saudi Aramco-owned Prosperity7 Ventures has made two investments in Hyperview this year, based on appreciation for the company’s commercially oriented approach to autonomous driving
Deal focus: Evermos extends impact to social commerce
Indonesia’s Evermos has more than doubled its total funding as investors see promise in a social commerce model that prioritises cottage industries and underemployed women
Q&A: Jafco Asia's Shahan Sud
Singapore’s Jafco Asia, a division of Japanese VC mainstay Jafco, hired Shahan Sud last year as its first in-country investment director for India. He explains a cross-border bridge long in the making
China's first US-listed SaaS company forced to delist
The New York Stock Exchange (NYSE) has suspended trading of China’s Cloopen and will apply to delist the software-as-a-service (SaaS) provider due to a failure to file its annual reports.
Quadrant scales up Australia growth equity fund to $397m
Australia’s Quadrant Private Equity upsized the debut fund under its new growth-stage strategy to AUD 600m (USD 397m), having originally targeted AUD 300m.
India satellite imaging player Pixxel gets $36m Series B
Google is one of several new investors in a USD 36m Series B round for Pixxel, an India-based satellite imaging provider targeting climate change use cases. The company has now raised USD 71m in private funding to date.
India home rentals platform NestAway acquired by strategic player
Aurum PropTech, a listed Indian property technology provider, has acquired NestAway, a home rentals platform that previously received several rounds of private funding, for INR 900m (USD 11m).
Baidu launches $145m China AI fund
China-based technology giant Baidu has launched an artificial intelligence (AI) fund of CNY 1bn (USD 145m) that will focus on generative AI companies.
Kazakhstan investor backs TVM SE Asia healthcare fund
Qazaqstan Investment Corporation (QIC), a private equity fund-of-funds set up by the Kazakhstan government, has invested in a Southeast Asia fund managed by TVM Capital Healthcare.
Singapore's Capillary Technologies gets $45m Series D
India-founded and Singapore-headquartered retail industry software-as-a-service (SaaS) provider Capillary Technologies has raised a USD 45m Series D round featuring India’s Avaatar Ventures.
Investor caution, bid-ask spreads hold back China secondaries
Secondaries investors see a lot of potential GP-led deal flow coming out of China, but completion rates are being held back by caution among buyers and a reluctance among sellers to compromise on valuations.
HSBC commits $3bn to Greater China venture debt fund
HSBC has earmarked USD 3bn for a Hong Kong and mainland China start-up lending programme. It marks the bank’s first foray into venture debt in Asia.
Singapore's Temasek punishes staff for FTX investment
The investment and senior management of Singapore’s Temasek Holdings will receive reduced compensation in recognition of the write-down of an investment in collapsed cryptocurrency exchange FTX despite an independent internal review finding no evidence...
SAIC invests $382m in China solid-state battery player
China’s QingTao Energy Development, a VC-backed developer of solid-state lithium battery technology, has raised CNY 2.7bn (USD 382m) from local auto giant SAIC Motor.
Deal focus: U Power wins backing for EV turnkey proposition
China’s U Power has developed an integrated chassis as a cost-effective foundation on which electric vehicle makers can build their own creations. Government and independent investors are piling in
Deal focus: Chalo thinks beyond the bus stop
India bus-tracking app Chalo is helping fleet operators eliminate fraud and improve efficiency while giving passengers greater visibility on services. It is keen to scale – geographically and vertically
Deal focus: Go aims to bring Japan's taxis up to speed
Goldman Sachs-backed taxi-hailing platform Go wants to address Japan’s taxi driver shortage and bring digitalisation to an industry that remains rooted in an analogue world
Square Peg leads round for India payments start-up
Australia’s Square Peg Capital has led a USD 10.2m pre-Series A round for India-based payments technology provider XFlow.
Prosperity7 backs China autonomous driving player Hyperview
Prosperity7 Ventures, a growth equity fund established by Saudi Arabia state oil giant Saudi Aramco, has invested in Hyperview, a China-based autonomous driving technology provider.
China National Energy Storage raises $143m
Zhongchu Guoneng Technology (ZGT), also known as China National Energy Storage, has raised CNY 1bn (USD 143m) in Series A funding led by a China Development Bank Capital-managed fund and Xinda Kunpeng Equity Investment Management.
Indonesia e-commerce player Evermos gets $39m Series C
The International Finance Corporation (IFC) has led a USD 39m Series C round for Evermos, an Indonesian social commerce platform that positions itself as an impact play.
Singapore's Qualgro seeks $150m for Fund III
Qualgro Partners, a Singapore-headquartered venture capital firm, is looking to raise USD 150m for its third fund.
PE-backed CompareAsiaGroup merges with US-listed SPAC
CompareAsiaGroup, an Asia-focused financial products comparison platform also known as MoneyHero Group, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an enterprise value of approximately USD 342m.