Technology
Indonesia B2B agriculture marketplace gets $35m Series A
AgriAku, an Indonesia-based B2B marketplace that looks to improve agriculture supply chain efficiency for retailers of agricultural inputs, has raised USD 35m in Series A funding led by Alpha JWC Ventures.
Prosus leads $25m Series B for India's Vegrow
Prosus Ventures, a technology investment business controlled by Naspers, has led a USD 25m Series B round for Vegrow, an India-based marketplace that helps farmers sell their fruit crops into organised distribution channels.
China medical big data player Aden secures $30m
Aden Technology, a China-based medical big data company specialising in insurance, has raised an extended Series B round of CNY 200m (USD 30m) led by Haier Capital with participation from Xingtuo Capital.
Qiming raises $3.2b across dollar, renminbi funds
China-focused VC firm Qiming Venture Partners has closed its eighth US dollar-denominated fund at the hard cap of USD 2.5bn – more than twice the size of the previous vintage – and raised CNY 4.7bn (USD 701m) for its latest renminbi vehicle.
Singapore blockchain gaming start-up gets $20m
Singapore’s Oasys, a blockchain technology developer focused on web3 gaming, has raised USD 20m from several specialist crypto investors.
India fintech player Cred closes $140m Series F
Cred, an India-based credit card rewards provider, has closed a USD 140m Series F round that includes a secondary component intended to facilitate exits for existing investors.
Korea's Kakao considers partial divestment of mobility spin-out
South Korean internet giant Kakao has indicated it may sell around 10% of Kakao Mobility, its transportation division, which has several private equity backers.
Accel-KKR targets Australia-listed SaaS player Damstra
Damstra Technology, a listed Australian software-as-a-service (SaaS) provider specialising in worker safety and risk management, has received an unsolicited buyout proposal from Accel-KKR.
Government funds support China's Dark Matter AI
Dmai, a Chinese cognitive artificial intelligence (AI) platform also known as Dark Matter AI, has raised RMB 500m (USD 75m) in the first tranche of a Series B round from five state-backed investors.
Australia tech: Valuation conundrum
Valuation adjustments and down rounds are expected to proliferate in Australia’s technology sector in the next 12 months. Investors are busy scrutinising business models for signs of vulnerability
Singapore blockchain player Rubix raises $100m
Singapore-based crypto transaction infrastructure provider Rubix has raised USD 100m from US-based LDA Capital to transition into a more web3-oriented and “green blockchain” model.
Sequoia raises $8.8b for China funds
Sequoia Capital has hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn for deployment in seed through late-growth rounds.
China IC software player raises $81m
Semi-Tech, a China-based semiconductor manufacturing software provider, has raised CNY 540m (USD 81m) across two rounds - the second extended tranche of a Series A and a Series B.
Sequoia, Dayone back China solid state battery developer
China-based Enpower Greentech, which claims to be a pioneer in next-generation all-solid-state batteries (ASSBs), has raised more than USD 20m in an extended Series A round led by Sequoia Capital China and Dayone Capital.
Joy sets modest target for China VC fund - update
Beijing-based Joy Capital has set a lower target for its latest US dollar-denominated fund than in the previous vintage and decided against raising a second accompanying growth vehicle.
Tough funding terms can hinder start-up growth - forum
Imposing punitive terms on founders in response to governance concerns can prove counterproductive to long-term growth as start-ups move through funding rounds and stipulations intensify, a Singapore Venture Capital & Private Equity Association (SVCA)...
Panthera hits first close on India, Southeast Asia fund
India and Southeast Asia-focused Panthera Growth Partners has reached a first close on its second fund with commitments amounting to more than half the overall target of USD 250m.
Tiger Global, Google join $40m round for India's Progcap
Tiger Global Management, Google, and Creation Investments have led a USD 40m investment in India’s Progcap, a financing services provider for small businesses.
India's Pine Labs buys VC-backed Setu
Indian financial technology company Pine Labs, which has raised more than USD 1.5bn in private funding, has acquired VC-backed counterpart Setu.
Portfolio: Welkin Capital and Shawya
Shawya is a fast-rising Chinese direct-to-consumer brand that takes a technology-driven approach to skincare. Welkin Capital is helping it address growing pains around talent and omnichannel capabilities
Deal focus: Confidence unwavering in SE Asia e-commerce
Singapore online shopping platform ShopBack hopes to extend a fledgling theme of Southeast Asian IPOs in the US amid threats to discretionary spending in its core markets
SeaTown invests $50m in Vietnam e-commerce enabler
SeaTown Holdings International, an alternatives manager owned by Temasek Holdings, has provided a USD 50m Series B round for Vietnamese e-commerce enabler OnPoint.
Southeast Asia logistics player Deliveree raises $80m
Gobi Partners and SPIL Ventures – the corporate venture capital arm of shipping business Salam Pacific Indonesia Lines – have led a USD 70m Series C round for Southeast Asia-focused logistics marketplace Deliveree.
Asia Partners leads $80m round for Singapore's ShopBack
Singapore’s Asia Partners has led a USD 80m growth round for local e-commerce and retail rewards platform ShopBack.