And, Indian interior design startup HomeLane, supported by Accel Partner, completed a $ 30 million Series D financing; Chuan SoftBank’s second vision fund is expected to complete its first round of fundraising in the first quarter of next year, with a size of about $ 30 billion.
India
Flipkart, an Indian e-commerce company owned by Wal-Mart, plans to set up a financial company. According to Inc42, Flipkart plans to launch a new lending platform to enter the credit space. It is reported that in addition to supporting consumers on Flipkart to pay through virtual credit cards, the platform also provides loan services (but not including personal loans) to sellers on the Flipkart platform. It is reported that Flipkart is applying for a non-bank financial company license (NBFC).
HomeLane, an Indian interior design startup backed by Accel Partner, has completed a $ 30 million Series D funding round. According to KrASIA, this round of financing was led by private equity firm Evolvence India Fund (EIF), Pidilite Group and FJ Labs, and existing investors such as Accel Partner and Sequoia Capital participated . It is reported that the company had obtained $ 4.6 million in a financing round in February this year. To date, HomeLane has raised $ 46 million in total funds raised. It is reported that the company’s main competitor is LivSpace, an online home design platform headquartered in Bangalore, supported by IKEA.
Eduisfun, an Indian education technology startup, has raised $ 28 million in funding. According to Inc42, the investors include HDFC Bank chairman and actor Amitabh Bachchan, Ogilvy Group’s chief creative officer Piyush Pandey, and PwC partner Russel Parera. It is reported that Eduisfun has launched a scholarship program to provide financial assistance to poor students. The funds raised will be used for the program.
Southeast Asia
Singapore’s sovereign wealth fund GIC intends to invest approximately $ 61 million in Indian real estate developer Prestige Estates Projects Ltd. According to DealStreetAsia, Bangalore-based Prestige Group has more than 361 million square feet of office space under construction and to be opened. In addition, it has 6 large shopping malls. It is reported that the private equity investment in Indian real estate in the first three quarters of 2019 increased by 19% year-on-year.
Latin America
Brazilian health technology company Ânimo Wellness completes $ 300,000 pre-seed financing. According to Contxto, Barrah Investimentos, Indicator Capital, Wharton Angels, Alumni Partners, Lupa Capital and Creditas founders Sergio Furio and iFood co-founder Guilherme Bonifacio participated in the round. Founded in 2018, Ânimo Wellness is a fitness music app with exclusive BGM for every fitness sport.
Others
Line signed a merger agreement with Yahoo Japan, with SoftBank taking a 50% stake in the new company. According to foreign media reports, Korean portal Naver announced on Monday that its Japanese instant messaging application Line has signed a formal merger agreement with Yahoo, Japan’s largest portal. After the completion of the stock purchase transaction, Line and SoftBank will each hold 50% of the combined new joint venture Z Holdings. The new company will remain listed on the Tokyo Stock Exchange and Yahoo Japan and Line will become its wholly-owned subsidiaries. The transaction is subject to approval by the Japan Fair Trade Commission and is expected to be completed in October 2020. (Tencent Technology)
TikTok responds to ByteDance and considers selling a majority stake: Rumors are completely false. It is learned that according to Bloomberg, BYTE has considered selling most of TikTok’s shares when necessary. The sale of more than half of TikTok’s equity may raise more than 10 billion US dollars. In response, the TikTok official said in response “We didn’t consider selling TikTok, not all or part of it. These rumors are totally false.”
Foreign media: ByteDance’s TikTok looks for global headquarters. According to foreign media reports, people familiar with the matter said that ByteDance was considering setting up a global headquarters for its popular video sharing application TikTok outside of China. People familiar with the matter said that ByteDance was considering Singapore, while other possible locations include London and Dublin, and there is no shortlist for any city in the United States. TikTok does not currently have a headquarters, despite its highest levelOffice in Shanghai. (Sina Technology)
Korean hotel booking platform Yanolja plans to list its domestic and Singapore branches in the next two years. According to Tech in Asia, the company’s official said that Singapore’s subsidiary can be listed on the global market before the South Korean headquarters IPO, because the company’s valuation in overseas markets is higher than the local market. It is reported that Yanolja, which was established in 2005, has expanded its business in Southeast Asia by investing US $ 15 million in Zen Rooms, a budget hotel operator supported by Rocket Internet, making it a competitor to India ’s OYO and Singapore ’s RedDoorz in the region.
SoftBank Vision Fund II, the second SoftBank Vision Fund II, is expected to complete its first round of fundraising in the first quarter of next year, with a size of approximately $ 30 billion. According to ET Tech, due to the failure of WeWork IPO, SoftBank ’s second Vision Fund ’s fundraising scale is larger than its first Vision Fund ’s first round of fundraising ($ 100 billion) ) Much smaller. In addition, it is reported that SoftBank may accumulate funds through the sale of shares of Alibaba, Yahoo Japan and Softbank Mobile. Its largest sponsors, the sovereign wealth funds of Saudi Arabia and Abu Dhabi, have yet to commit to a second vision fund.
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