And Vertex Venture Holdings of Singapore completed a $305 million fundraising of the new fund; Indonesian e-commerce unicorns Bukalapak and Tokopedia focused on gold trading; YC, Sequoia Capital and Ribbit Capital invested 2140 in India’s online financial investment platform Groww Ten thousand dollars
Southeast Asia
Indonesia e-commerce unicorns Bukalapak and Tokopedia focus on the gold trading business, the former introducing new features. According to the English website KrASIA, Bukalapak said that gold is one of the oldest and most popular investments in Indonesia and has always had a market. The price of gold in Indonesia has soared since the beginning of the year, and the market demand has also increased significantly. According to Bukalapak and Tokopedia, the number of gold buyers on the two platforms increased by 9 times and 12 times respectively. It is reported that Bukalapak has partnered with Indonesia’s financial technology company Pluang to launch a new feature, Cicil Emas, which allows users to purchase gold on their platform. Tokopedia has partnered with Pegadaian, a state-owned pawnshop in Indonesia, to sell gold since January this year.
Singapore Vertex Venture Holdings completed the fundraising of $305 million in new funds. According to the English station KrASIA, the fundraising was completed by its existing and newly joined investors, and the amount of funds raised has exceeded the expected target of 230 million US dollars. It is reported that the fund has invested in companies such as Grab, Validus and Tickled Media.
Malaysia Online Car Trading Platform iCar Asia will acquire Carmudi Indonesia, a car portal supported by Rocket Internet, for US$3 million to expand its used car business in Indonesia. According to e27, the payment will be paid in two installments: $2 million will be paid after the transaction is completed, and the remaining $1 million will be paid on October 15, 2020. It is reported that iCar Asia, which was established in 2012, is listed on the Australian Stock Exchange and owns and operates a car portal network in ASEAN. Carmudi is the online market for new and used cars and operates five offline car sales centers called Carsentros in Indonesia.
Singapore used car trading platform Carro is investing $30 million in Malaysia’s car bidding platform myTukar, hoping to digitize the local used car dealership industry. According to the English website KrASIA, Carro was founded in 2015, and Carro is currently working to help traditional car dealers connect with private sellers through e-commerce channels. In addition, myTukar was founded in 2018 as a Malaysian online car auction platform designed to change the country’s traditional used car trading process.
India
E-cigarettes may cause health concerns, and the Indian government has announced a total ban. According to a report from China News Network, recent e-cigarettes have caused health problems after lung diseases, and there have been oppositions in many places around the world. The Indian government announced on the 18th that it is banned from the production, import and sale of electronic cigarette products. According to the report, the ban will be implemented through administrative orders, and offenders will face up to three years in prison. It is unclear whether such products will be banned.
Tiger Global is investing in Indian fast food brands for the first time. According to Livemint, Tiger Global led Wow! Momo Foods’ $23 million Series B financing, which was valued at $120 million. Founded in 2008, Wow! Momo Foods is a fast food chain in India with two brands, Wow! Momo and Wow! China. Wow! Momo Foods founder and CEO said that the funds raised will be used for business and consumer groups.
YC, Sequoia Capital and Ribbit Capital invested $21.4 million in Groww, India’s online financial investment platform. According to Yourstory, the financing was led by Ribbit Capital and was attended by YC and Sequoia Capital. In addition, at the beginning of this year, Groww also raised a $6.2 million Series A financing from Sequoia Capital. It is reported that Groww was established in April 2016 to help users invest in mutual funds through the platform. Groww said the newly raised funds will be used for the expansion of the team.
AI created by former CEO of InfosysThe startup Vianai Systems raised $50 million and the investor information was not disclosed. According to ET Tech, Vianai Systems was established this year to help companies leverage AI technology to drive fundamental digital transformation.
“India Edition is free” for India’s shared residential and student housing provider Hello World invested $1 million. According to Inc42, Hello World was founded in April 2019 to provide users with a shared living space. The company now operates in 15 cities in India and plans to expand into nine other cities within the next 2-3 months.
Latin America
Brazil Recruitment Platform Xerpa raised $12.9 million to expand its HR technology on the platform and explore technology in the financial technology sector. According to Contxto, Xerpa said that through technology development, employees of their partner companies will be allowed to receive salaries before the payday. Founded in 2015, Xerpa aims to automate the solution of human resource management.
文 | 云晞@出海
编 | Zhao Xiaochun@出海
图 | Oriental IC
