The week that was – December 6-11

From e-commerce and payments to logistics, fishing, packaging and semiconductors, here are the best deals in Asia this week.

Vietnam’s largest e-wallet operator MoMo is set to secure $ 200 million in new funding. The funding would make it Vietnam’s last unicorn with a valuation of around $ 1.5 billion. New investors coming into this cycle include Mizuho Bank and funds registered in Hong Kong WFM investments.

Still in Vietnam, VNG Company is in the market to raise up to $ 200 million in what is considered a pre-IPO funding round. The Internet group headquartered in Ho Chi Minh City counts GIC and Temasek of Singapore, Goldman Sachs and South Korean financial group Mirae Asset among its shareholders.

In Indonesia, a logistics technology company Waresix raises at least $ 100 million in a new round of funding. Sources say Middle East funds could become investors. Waresix had raised $ 100 million in a Series B round in September 2020 from investors such as SoftBank Ventures Asia, the Temasek Pavilion Capital unit and Indonesian conglomerate Emtek.

Pick up, an on-demand delivery service provider in Hong Kong, raised $ 37 million in a Series B funding round led by Jardine Matheson, the city-based multi-storey conglomerate. Other investors in Pickupp include Reefknot Investments, Spark Ventures and Alibaba Entrepreneurs Fund.

Indonesian fishing startup Aruna is set to raise some $ 30 million in new funding, sources told DealStreetAsia. It comes just months after getting $ 35 million in a Series A round backed by Prosus Ventures, SIG, AC Ventures and Vertex Ventures, among others.

In India, packaging service provider Bizongo raised some $ 109 million in a Series D funding round from Tiger Global, B Capital, International Finance Corp (IFC) and CDC Group. It comes just eight months after his $ 51 million Series C funding round led by CDC Group and AddVentures.

Meanwhile, the OTT audio app Pocket FM raised $ 22.4 million in a Series B funding round led by Speed ​​of light Business partners and joined by Times Group and Tanglin Venture Partners.

Consumer-focused private equity firm L Catterton Led over $ 50 million Series B funding in Nebula marks, a Chinese aggregator of third-party Amazon suppliers. The investment was rolled out from L Catterton’s third Asian fund, which closed in 2019 at $ 1.45 billion.

November has been a busy month for the Greater China startup ecosystem. According to data compiled by DealStreetAsia, startups in the region have raised some $ 7.3 billion, through 140 private equity and venture capital deals.

The main deals were a $ 1.26 billion investment in GTA semiconductor by investors Huada Semiconductor and Cathay Capital, and $ 1 billion in funding for green technology company Envision Group investors such as Sequoia Capital China, GIC and Primavera Capital Group.

Interesting way, Capital Primavera now look further. He has set up an office in Singapore as he searches for opportunities in Southeast Asia under early stage deals, sources told DealStreetAsia.

Dig deeper

Mixed martial arts promoter A championship is considering a merger with special purpose acquisition company Gores Holdings VII, according to a presentation seen by DealStreetAsia. SPAC, a $ 480 million Nasdaq-listed vehicle, is sponsored by The Gorès Group, a California-based private equity group.

The Singapore-based company recently issued new shares worth around $ 174 million, according to regulatory documents, bringing its valuation to around $ 1.2 billion. Approximately 40% of this principal is comprised of previously issued convertible redeemable debt notes which were converted into preferred shares in a successful round of qualifying financing.

Also in Singapore, a fintech start-up MatchMove said a $ 100 million funding announced in June included an in-kind contribution of $ 80 million and $ 20 million in cash from the U.S. headquarters Nityo Infotech. This confirms a report from DealStreetAsia in August. The cash component of $ 20 million is to be disbursed in installments on a quarterly basis.

What is the trend

Animals and their welfare.

australia Animal circle, an online pet supplies and services store, has secured $ 125 million in a Series C funding round led by Capital of Prism and TDM Growth Partners. Other investors include Scottish investment fund Baillie Gifford and AirTree Ventures. Funding makes Pet Circle Australia the newest unicorn.

Maybe more of a farming game, International Finance Corporation (IFC) proposes to invest $ 52.5 million in an India-based company Zenex Animal Health India of Multiples Private Equity Fund III. Zenex, which produces dietary supplements, vaccines and other on-farm care products for livestock, is India’s second-largest animal health company. He also recently secured an investment of up to $ 10 million from the Asian Development Bank.

The other essentials of the week

The debut on the public market of To grab on the New York Stock Exchange was eagerly awaited; as Southeast Asia’s largest export from Sea Group, it was to pave the way for the region’s renaissance.

However, the company’s shares have had a disappointing performance, having lost some 45% since its inception. Is it bad timing or something else?

We are also exploring the decision of Indonesian coffee chains to open dining establishments after saturating the take-out outlet market.

And as the first generation of Indonesian tech startups enter public markets, the Financial Services Authority (OJK) gave the green light to the double-class share structure to become more attractive to local businesses.

In China, however, tighter government regulations in a number of key sectors continue to be felt.

Spark Education, a tutoring service provider supported by Sequoia Capital China, withdrew its proposed initial public offering in the United States. Beijing-based Spark filed for a $ 100 million IPO in June after raising $ 400 million in venture capital. Its other investors are GGV Capital, IDG Capital and Lightspeed China Partners.

The previous week saw the sale of shares in the Chinese rideshare company Didi Global, which had announced its intention to withdraw from the New York Stock Exchange and seek a listing in Hong Kong instead.

Separately, the short video giant ByteDance, the parent company of TikTok, is now going cloud, reported Caixin Global. The company unveiled an assortment of enterprise cloud services as part of its Volcano Engine unit, taking on Alibaba Group Holding, Tencent Holdings and Huawei Technologies in the Chinese cloud market.

During this time, Ali Baba is in the process of forming two new units as part of the reorganization of its domestic and foreign e-commerce activities. The tech giant has come under significant pressure from regulatory crackdown as well as increased competition in its business.

Until next week – drop us a line if you have a tip to share.

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