Tag: Asia
UTEC, one of Asia’s largest deep-tech investment firms, launches new $275M fund
The University of Tokyo Edge Capital Partners (UTEC), a deep-tech investment firm, announced the first close of its fifth fund, which is expected to total 30 billion JPY (or about $275 million USD) by June 2021. UTEC currently has about $780 million in total assets under management, and says this…
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Shein overtakes Amazon as the most installed shopping app in US
Shein‘s quiet rise has reached a crescendo as the fast fashion e-commerce app takes the crown from Amazon as the most downloaded shopping app on iOS and Android in the United States, according to data from app tracking firm App Annie. Its ascent is quiet because the startup, despite reportedly exceeding…
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JD Logistics, China’s answer to Amazon’s logistics ambitions, to raise $3.4B from IPO
After operating in the red for 14 years, JD.com’s logistics subsidiary is getting ready for an initial public offering in Hong Kong. JD Logistics will price its share between HK$39.36 and HK$43.36 apiece, which could see the firm raise up to about HK$26.4 billion or $3.4 billion, according to its…
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Gojek and Tokopedia merge to form GoTo Group
Ride-hailing giant Gojek and marketplace Tokopedia said on Monday they have combined their businesses to form GoTo Group, the largest technology group in Indonesia, the fourth most populous nation that is currently navigating to contain the economic fallout from the coronavirus pandemic. Gojek’s Andre Soelistyo will lead the combined business…
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India’s Moglix valued at $1 billion in $120 million fundraise
Moglix, an industrial business-to-business marketplace in India, said on Monday it has raised $120 million in a new financing round at $1 billion valuation, becoming the 13th firm from the world’s second largest market to attain the unicorn status this year. The startup’s Series E financing round was led by Falcon…
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Merchant commerce platform Pine Labs valued at $3 billion in new fundraise
Pine Labs, a startup that offers merchants payments terminals, invoicing tools and working capital, said on Monday it has completed the first close of a $285 million funding as the nearly two-decade-old firm looks to expand its business. Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry…
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