Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a premium subscription.
Hello readers,
Just last week, I wrote about how there were a few deals that had the “rich getting richer” vibe to them. That continues this week, with the headliner being a US$2.2 billion investment in Chinese electric vehicle major Nio.
As we near the end of a year with plenty of ups and downs, I can only hope these kinds of massive deals are the signal for the start of an uptick in the economy’s fortunes as we start to head into 2024.
At any rate, I wish everyone a restful last week of 2023, and good fortune for the year to come.
Image credit: Timmy Loen
You can find all other important investment deals that happened over the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals and M&As that recently took place.
The biggest deals by market
🇨🇳 Chinese EV company Nio secured US$2.2 billion in strategic investment from Abu Dhabi-based investment vehicle CYVN Holdings.
🇮🇳 Indian ecommerce major Flipkart received a strategic infusion of US$600 million from its biggest shareholder, Walmart.
🇸🇦 Tamara, a fintech firm from Saudi Arabia, raised US$340 million in its series C round, with SNB Capital and Sanabil Investments participating. This gave the company a valuation of over US$1 billion.
🇮🇩 Consumer finance firm Home Credit Indonesia netted US$100 million from the local unit of Mitsubishi UFJ Financial Group.
M&As
Startups that are raising funds
Killer pitch decks
Exclusive listicles
Thoughtful reads
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
