As a result, Temasek’s Mapletree industry spent $119 million to acquire two student apartments in the UK; Walmart plans to spin off the mobile payment service PhonePe from Flipkart.

India

WeWork and India’s ICICI Bank negotiations broke down and re-seek $200 million in financing. According to Sina Technology Report, foreign media said that Jitu Virwani, a large shareholder of WeWork India, a shared office space company, said today that after the cancellation of the IPO plan, WeWork and the local bank ICICI Bank in India started. The $100 million financing negotiations have broken down. To this end, WeWork is seeking to raise $200 million from other investors.

Walmart plans to spin off the mobile payment service PhonePe from Flipkart. According to ET Tech, after the split, Walmart will directly hold the ownership of PhonePe. Previously, Walmart had spent $16-17 billion to acquire a 77% stake in Flipkart, and Flipkart acquired PhonePe in early 2016. Currently, PhonePe is raising a new round of financing of its $1 billion.

Social E-Commerce Startup DealShare announced the completion of a $11 million Series A round of financing. According to YourStory, this round of financing was jointly led by Jingwei Ventures India and Falcon Edge Capital, including DST Global, Omidyar Network India and other angel investors. According to the company’s announcement, the funds raised will be used to expand business, develop AI solutions and develop local logistics networks.

MeitY will translate the initial investment for the 100 AI through the “100-day mission” program to promote the ecological development of the language translation system. English station KrAsia It is reported that the Indian Prime Minister and the Ministry of Electronics and Information Technology (MeitY) have set a hundred-day mission to provide translation services for a large number of Indian native languages. Given that India has 30 languages ​​and each language has its own dialect, language creates great communication barriers. Existing translation software, such as Google, has problems with the translation of statements.

Southeast Asia

Mapletree Investment, a Temasek subsidiary, spent $119 million from a UK student apartment provider UniTe Students acquired two student apartments in the UK. According to DealStreetAsia, the acquisition will allow Mapletree’s portfolio to cover 30 home assets in 15 UK cities. It is reported that Unite Students was established in 1991 and is the first private company in the UK to provide housing for students and one of the largest suppliers in the UK. As of today, the company has provided accommodation for approximately 600,000 students from different universities.

Vietnamese venture capital VinaCapital led the country’s plastic packaging and container manufacturer Ngoc Nghia with $21.4 million in financing. According to DealStreetAsia, VinaCapital said it will invest $17 million in Ngoc Nghia through its Vietnam Opportunities Fund (VOF) and receive two seats on the company’s board of directors. It is reported that Ngoc Nghia was established in 1993 and has been supplying plastic packaging products to manufacturers such as Unilever, Coca-Cola, Pepsi and Vinamilk. The funds raised will be used to increase its production capacity and expand the market.

Grab has launched an electronic voucher GrabGift service to enrich Grab for Business services. According to the English website KrASIA, GrabGifts is part of the Grab for Business program, which is aimed at businesses and provides business vehicles for businesses or individuals. It is reported that GrabGifts vouchers are available in a variety of denominations and can be customized for use by individuals or companies. Grab’s corporate users can now redeem their employees and customers for a value-for-money ride, meal delivery or other Grab service through GrabGift vouchers.

Other

The cross-border e-commerce platform “Club Factory” completed $100 million in Series D financing. It was learned that Club Factory, a cross-border e-commerce platform, officially announced that the team completed a $100 million D-round financing in early 2019. The current round of financing includes a number of domestic and overseas funds such as Qiming Venture Capital, and the old shareholder BAI ( Bertelsmann Asia Investment Fund) and Fengrui Capital oversubscribed. Founder Li Jialun said that the biggest change in Club Factory this year was the launch of the local e-commerce platform business, which has achieved more than 10 times growth in its local Indian seller business in the past six months.

Takeda, a Japanese pharmaceutical company, is about to sell assets in the Middle East, Africa and Russia. According to DealStreetAsia reported that through the sale of assets, the company will raise about $1 billion to ease its debt. According to people familiar with the matter, Takeda Pharmaceuticals sold its Russian-based OTC and prescription drug manufacturers to the German pharmaceutical company Stada Arzneimittel AG and sold its assets in the Middle East and Africa to the Swiss company Acino International AG. It is reported that Takeda Pharmaceutical is seeking to divest non-core businesses outside Japan.

Japan 7-11 parent company plans to close the store and lay off 3,000 people, the stock price rose nearly 6%. According to the Financial News Agency, Reuters said that Japan’s Seven & I Holdings’ share price rose nearly 6% in early trading on Friday, after the retail group said it would close or relocate nearly 1,000 7-11 convenience stores and lay off employees. About 3,000 people, this is part of the restructuring of the entire group. The company said it will also reduce the franchise fees for 7-11 convenience stores and provide more help to owners to maintain 24-hour business, a move that could affect profit margins.

Going to the sea

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Going Daily | China's cross-border e-commerce Club Factory completed $100 million in financing; WeWork and India's ICICI Bank collapsed, $100 million lost

Going Daily | China's cross-border e-commerce Club Factory completed $100 million in financing; WeWork and India's ICICI Bank collapsed, $100 million lost