As well, the valuation of India’s online classified advertising company Quikr rose to 1.5 billion US dollars; Xiaomi India’s offline channel sales in the holiday season increased by more than 30%.
India
India online classified advertising company Quikr valuation rose to $1.5 billion. According to DealStreetAsia, an independent valuation report submitted by Quikr to the Ministry of Corporate Affairs (MCA) on May 7 this year showed that the company’s valuation was 10,832.15. Rs. billion (about $1.5 billion). It is reported that Quikr has raised more than 440 million US dollars from investors such as Warburg Pincus, Tiger Global, and Norwest Venture Partners. According to the report, since its inception in 2008, Quikr has acquired 15 companies to promote its business to different areas, such as: automotive, real estate and talent recruitment.
Tencent and Tiger Global participate in the $56 million Series B financing of Indian security management company MyGate. According to Techcrunch, US investment management agency JS Capital and existing investor Prime Venture Partners also participated in this round of financing. It is reported that the new round of financing has enabled MyGate’s total financing amount to reach 67.5 million US dollars. Founded in 2016, MyGate specializes in smart home security, visitor management systems, community management and security management. The company aims to provide solutions for the secure management of closed communities through its applications. It is reported that the company’s goal is to cover 15 million families in 40 cities in India in the next 18 months.
India used car trading platform Cars24 completed $100 million in Series D financing. According to ET Tech, this round of financing was led by Unbound, which specializes in technology, and KCK Global, a Canadian e-commerce and database management company, each investing $25 million. Although the latest round of financing after the valuation has not been disclosed, it is reported that Cars24 has raised $100 million in multiple rounds of financing, and its valuation is about 550 million US dollars. In addition, Agrawal, the company’s chief operating officer, said Car24 plans to expand its business from 50 to 75 by the end of the year and plans to cover 200 cities by the end of 2020.
Freshworks, one of India’s largest SaaS companies, will raise $3 billion in valuations. According to ET Tech, Freshworks is negotiating with existing investors such as Sequoia India and Tiger Global. So far, Freshworks has raised $250 million, and Capital G, the investment arm of Accel India and Alphabet, is its supporter.
The sales of Xiaomi’s Indian offline channels increased by over 30% year-on-year during the holiday season. According to a report from Tencent Technology, foreign media said that Xiaomi India said on Wednesday that its sales volume of its offline channels increased by 30%-40% year-on-year in this year’s holiday season. “The offline retail business has increased significantly compared to last year’s holiday season. In the first phase of the holiday season, we saw strong growth in O2O channels,” said Lagu Reddy, director of Indian category and online sales for Xiaomi. Our offline sales have increased by 30% to 40% compared to last year’s holiday season.” He added that as Diwali approaches, the company is confident that it will continue to grow.
Southeast Asia
Investing in the Southeast Asian market Insignia Ventures Partners has raised $200 million in funding for its second fund. According to the English website KrASIA, Tan Yinglan, former partner of Sequoia Capital Ventures and founding partner of Insignia, said that this will further promote Insignia’s focus on early technology development in Southeast Asia. In 2018, Insignia ended the fundraising of the first fund for $120 million.
Softbank-backed Indonesian healthcare startup Alodokter completed $33 million in Series C financing. According to DealStreetAsia, this round of financing was led by insurance company Sequis Life, SoftBank Ventures Asia, Golden Gate Ventures and Philips. It is reported that the company raised $9 million from SoftBank Ventures Asia and Golden Gate Ventures in 2017. The latest round of financing has raised the total funding raised by Alodokter to $45 million. Alodokter was founded in 2014 to bring medical careDigitally combined to provide a range of healthcare-related services, including telemedicine, doctor appointments, medical and health insurance services.
Intudo Ventures, a Indonesian-focused venture capital firm, has ended its investment in Yummy Corp, a restaurant company owned by Indonesia’s head food and entertainment group Ismaya. According to DealStreetAsia, people familiar with the matter said that Yummy Corp has raised about $8 million in funding and is valued at more than $20 million. In addition, Intudo Ventures focuses on early stage investments in the consumer, finance, health/health and education sectors. Both Yummy Corp and Intudo declined to comment on the round of financing.
Latin America
Brazil financial technology company EBANX is the youngest unicorn in the country. According to Contxto, after existing investors FTV Capital and Endeavor Catalyst led an undisclosed amount of financing, EBANX is expected to handle $2 billion in payments before the end of the year. It is reported that EBANX was established in 2012 to provide end-to-end payment solutions for enterprises, especially e-commerce providers. Its partners include AliExpress, Spotify and Airbnb.
BYD has landed in Latin America and opened the first BYD electric bus line in Chile. According to China News Network, Chile opened the country’s first pure electric bus bus line, and it is also the first bus route in Latin America to use 100% pure electric bus, and its 183 pure electric buses are all in operation. From the Chinese car company BYD. As of now, BYD electric vehicles have successfully entered Chile, Colombia, Ecuador, Brazil, Peru, Uruguay and Argentina in Latin America.
Other
Softbank plans to invest $5 billion in WeWork and still does not hold a controlling position. According to Sina technology reports, the Nikkei Asian Review reported that Softbank has decided to invest about $5 billion in WeWork. The funds will come directly from the Softbank Group, not its vision fund. The deal will give Softbank more shares in WeWork, but it still does not hold a controlling position based on voting rights. In addition, WeWork will not become a subsidiary of Softbank.
Silicon Valley Ventures 500 Startups may participate in Dawa, Pakistan’s largest digital healthcare platformAi $5 million in Series A financing. According to DealStreetAsia, Dawaai raised nearly $1 million in pre-A rounds from 500 Startups in April this year. According to the company, Dawaai established in 2013, it is Pakistan’s largest digital medical platform. The funds raised in the A round of financing will be used for technology development, product stacks, and talent recruitment.
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