SoftBank Ventures Asia
VC-backed streetwear retailers Kream, Soda to merge
Korean streetwear retailer Kream has paid KRW 97.6bn (USD 72.1m) for a 43.6% stake in Japanese counterpart Soda as part of a merger of the two VC-backed businesses.
Deal focus: The SoftBank effect, one step removed
The new owners of SoftBank Ventures Asia are cut from the same cloth – and even come from the same family – as the VC firm’s corporate parent. They aspire to reconfigure Asia’s tech ecosystem
Mistletoe founders to acquire SoftBank Ventures Asia
SoftBank Group has agreed to sell its captive VC unit, SoftBank Ventures Asia (SBVA), to a newly formed entity led by the team behind Japan-headquartered start-up incubation and investment platform Mistletoe.
Korea's Google-backed Mathpresso raises $70m
Seoul-based education technology start-up Mathpresso has closed its Series C round on USD 70m following an investment of undisclosed size last year from Google.
Korea laundry start-up gets $36m Series C
H&Q Korea has led a KRW 49bn Series C round for Korean laundry app provider Laundrygo with support from SoftBank Ventures and Altos Ventures.
PE-backed Korean ride-sharing player Socar drops on debut
Socar, a Korea-based car-sharing business backed by the likes of Bain Capital, IMM Private Equity, and SoftBank Ventures Asia, traded down on debut following a KRW 101.9bn (USD 76m) IPO.
Indonesia social commerce player Super raises $70m
NEA has led a USD 70m Series C round for Super, an Indonesia-based social commerce platform that targets the country’s lower-tier cities and rural areas.
Korean home interiors start-up gets $182m Series D
OHouse, a consumer-facing platform in South Korea used for sourcing materials and services relating to home furnishing and interior decorating, has raised USD 182m in Series D funding.
AVCJ Awards 2021: Deal of the Year – Mid Cap: Danggeun Market
A social, hyperlocal overlay has made Korea’s Danggeun Market a subversively complex e-commerce play. As the company scales and experiments, it reflects new confidence in its home market
AVCJ Awards 2021: Deal of the Year – Small Cap: Ajaib
Having spent more than a year perfecting its product, Ajaib turned Indonesia’s brokerage industry on its head in six months. Emphasis on product and customer engagement have paid dividends
Deal focus: Digital brokerage Ajaib finds the right fit
Ajaib grew from nothing to become Indonesia’s fifth-largest stockbroker by volume in the space of six months. The newly appointed unicorn is now raising capital just as quickly
Indonesia fintech start-up Ajaib achieves unicorn status
Ajaib, an online stock-trading platform in Indonesia, has raised $153 million in a Series B funding round led by DST Global at a valuation of $1 billion.
Deal focus: Vision Fund throws its weight behind Opay
An introduction from SoftBank Ventures Asia prompted Vision Fund 2 to lead a $400 million Series C for Nigeria-based Opay, creating Africa’s newest technology unicorn in the process
Korea's Danggeun Market raises $162m at $2.7b valuation
DST Global has led a $162 million Series D round for Danggeun Market, operator of Korean flea market app Karrot, at a valuation of $2.7 billion.
Japan sneaker marketplace raises $56m
SoftBank Ventures Asia has led a JPY6.2 billion ($56.4 million) Series C round for Japanese sneaker marketplace and e-commerce start-up Soda.
Deal focus: Carro prioritizes car financing as ecosystem enabler
Southeast Asia’s Carro has achieved critical mass as a used car trading platform, but the start-up regards financial services as the key growth area. It is now backed by SoftBank Vision Fund’s considerable heft
Korea's Kakao acquires VC-backed storytelling platform
Radish, a Korea and US-based mobile fiction platform, will be acquired by a unit of Kakao Corporation for $440 million. Its backers include SoftBank Ventures Asia and Kakao.
Indonesia social commerce start-up raises $28m
SoftBank Ventures Asia has led a $28 million Series B round for Aplikasi Super, which claims to be Indonesia’s first and leading social commerce platform.
China mobile charging business targets US listing
Energy Monster, China’s largest mobile device charging service provider by gross revenue, has filed for a US IPO.
SoftBank Ventures backs Japanese sneaker marketplace
SoftBank Ventures Asia has led a JPY2.2 billion ($21.2 million) Series B round for Japan’s Soda, operator of the online sneaker marketplace Snrk Dunk.
SoftBank joins $60m Series B for Korean payments player
SoftBank Ventures Asia has joined a $60 million Series B round for Korean payments technology start-up Chai.
China retail SaaS provider Huice secures $100m Series C
Huice, a China-based provider of software for retailers, has raised nearly $100 million in Series C funding led by Singapore’s GIC. GL Ventures, Legend Capital and SoftBank Ventures Asia also participated in the round.