And Flipkart co-founder Binny Bansal sold $14 million worth of Flipkart shares to Tiger Global; Singapore Internet infrastructure company PDG prepared $500 million for expanding the Asian market
Southeast Asia
Singapore Internet Infrastructure Service Provider Princeton Digital Group (PDG) will invest $500 million to expand into the Asian market. According to DealStreetAsia, in 2017, Warburg Pincus announced a $300 million investment in Princeton Growth Ventures (now PDG today). It is reported that in addition to the PDG’s focus on China, Singapore and Indonesia, the company also has offices in India and looks at countries such as South Korea, Japan and Malaysia.
Temasek and EV Growth are leading the Indonesian beauty platform Social Bella for $40 million in financing. According to DealStreetAsia, Social Bella raised $12 million in the last round of funding. It is reported that Social Bella was established in 2015 and currently offers 140 local and foreign beauty brands including beauty, skin care, hair care, bathing, manicure, accessories, perfumes and gifts. The company said that the newly raised funds will be used for business expansion in the country.
International Finance Corporation (IFC) or Singapore-based startup 2C2P invested $15 million. According to DealStreetAsia, 2C2P has so far raised $10 million. It is reported that 2C2P had negotiated with Grab, but failed to reach an agreement, the former rejected a quote of up to 200 million US dollars. Founded in 2003, 2C2P provides online payment and mobile payment solutions for online and offline merchants, banks and financial institutions in Southeast Asia.
India
Lenskart, India’s largest optician, will be invested by Kedaara Capital, which is valued at about $1 billion. According to ET Tech, Lenskart is also discussing a round of financing of $3-350 million with Softbank. Established in 2011Kedaara Capital is a private equity firm in India that manages more than $1.3 billion in assets. It is reported that if the transaction is completed, this will be Kedaara Captial’s first investment in the consumer Internet field.
Flipkart co-founder Binny Bansal sold a $14 million Flipkart stake to Tiger Global. According to ET Tech, Bansal sold a $76 million stake to Wal-Mart in June. It is reported that the sale is also because Bansal began to pay more attention to venture capital after leaving the CEO of Flipkart.
India B2B e-commerce unicorn Udaan has raised $300 million. According to ET Tech, investors involved in this round of financing include Altimeter Capital, GGV Capital, and Udaan’s existing investors DST Global and Lightspeed Venture Partners. It is reported that Udaan raised $225 million in September last year. Founded in 2016 by Flipkart’s three former executives, Udaan’s app supports real-time conversational chat based on multiple Indian languages, connecting more than 150,000 electronics, apparel and major ingredient buyers and sellers.
Naspers leads the Indian logistics and distribution startup ElasticRun for $5,000-$55 million in financing. According to ET Tech, ElasticRun was founded in 2016 by former Amazon executives and has a light asset-based transportation network for consumer goods, online retail, manufacturing. Industry, automotive and hospitality industries. According to people familiar with the matter, Naspers believes that the model adopted by ElasticRun is the most cost-effective way to establish a technical logistics network in India. In the next 6-8 months, Naspers will once again invest in ElasticRun.
Mahindra, India’s leading automaker, acquired a 55% stake in the old taxi company Meru Cabs to help the formerEnjoy expansion in the mobile market. According to Livemint, Ma Hengda will pay approximately $14.3 million in shares through the sale of new shares. Ma Hengda’s investment in Meru also shows that traditional car manufacturers are increasingly interested in the shared mobile space. It is reported that in March this year, Hyundai Motor Co. and Kia Motors invested $300 million in Ola.
Other
Japanese grocery store LoFt uses the online red live broadcast to explore the Chinese market. According to the citing article, the Japanese grocery store LoFt invited a well-known net red with 3 million fans on the social networking site to enter the store to strengthen the actual demonstration sales, and will open up the Chinese market through “live marketing”. The number of views in one live broadcast exceeded 170,000. The company plans to accelerate the opening of stores in China from 2020, and will increase its popularity through social network marketing, driving the growth of physical store revenue.
文 | 云晞@出海
编 | Zhao Xiaochun@出海
Picture|Pexels
