Ola Electric is in advanced talks to raise between $250 million to $500 million in a new financing round as the Indian firm looks to scale its electric vehicle manufacturing business in the South Asian market, according to two sources familiar with the matter. Falcon Edge Capital is in advanced talks to the lead the […]
China proposes strict control of algorithms
China is not done with curbing the influence local internet services have assumed in the world’s largest populous market. Following a widening series of regulatory crackdowns in recent months, the nation on Friday issued draft guidelines on regulating the algorithms firms run to make recommendations to users. In a 30-point draft guidelines published on Friday, […]
Indiagold raises $12 million for its gold-focused digital alternative credit platform
India has a fascination for gold. The households in the South Asian market are estimated to have a stash of over 25,000 tons of the precious metal, whose value today is about half of the country’s nominal GDP. But much of this gold has been sitting idly in lockers in big metal wardrobes for generations. […]
Xiaomi reports record 64% revenue growth, acquires Deepmotion for $77.3 million
Xiaomi reported a second-quarter net income of $1.28 billion on revenue of $13.56 billion following the Chinese technology giant’s strong surge in smartphone market share globally. During the quarter that ended in June, Xiaomi said it saw a 64% year-on-year growth in revenue, and its net income surged over 80% from the same time a […]
Bankers chase Byju’s for IPO, valuation pegged up to $50 billion
Nearly every top investment bank is chasing Byju’s and nudging the most valuable Indian startup to seriously explore the public markets as soon as next year. Most banks have given Byju’s a proposed valuation in the range of $40 to $45 billion, but some including Morgan Stanley have pitched a $50 billion valuation if the […]
India’s Khatabook raises $100 million for its bookkeeping platform for merchants
Khatabook, a startup that is helping merchants in India digitize their bookkeeping and accept online payments, said on Tuesday it has raised $100 million in a new financing round as it prepares to launch financial services. The startup’s new financing round — a Series C — was led by Tribe Capital and Moore Strategic Ventures […]
Pakistan’s B2B marketplace and digital ledger platform Bazaar raises $30 million
A one-year-old startup that is building a business-to-business marketplace for merchants in Pakistan and also helping them digitize their bookkeeping is the latest to secure a mega round in the South Asian market. Bazaar said on Tuesday it has raised $30 million in a Series A round. The new financing round — the largest Series […]
India’s Zetwerk valued at $1.33 billion in new funding
An Indian startup that operates a business-to-business marketplace for manufacturing items is the latest to attain the coveted unicorn status in the South Asian market. Bangalore-based Zetwerk said on Monday it has raised $150 million in a Series E financing round led by New York based D1 Capital Partners. New investors Avenir and IIFL also […]
Tencent in talks to lead funding in India’s Pocket FM
Tencent is in advanced stages of talks to lead an investment round in Gurgaon-headquartered Pocket FM, the latest in the Chinese giant’s push to broaden its consumer internet portfolio in the Indian market. The Chinese firm, which is already an investor in Pocket FM, is in talks to lead a ~20-25 million round in Pocket […]
Facebook launches program to help small Indian businesses secure loans
Facebook is launching a new program in India to help small and medium-sized businesses secure loans in the South Asian market as the company makes further push to expand its presence among merchants. The social conglomerate said its new program, called Small Business Loans Initiative, addresses some of the biggest pain points small businesses face […]