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Hello readers,
I went out for a late night McDonald’s run with an old friend this week. We were bored of our usual hangout spots, so we decided we’d pick something up at the drive-through and go to a local aerospace park to have our supper.
On the way, while we were singing along to songs that hadn’t been on the radio for ages, we realized that we’d known each other for more than a decade.
We reminisced about our school days, laughing about the ridiculous things we’d get up to and how it was a miracle that we graduated. It was incredible how far we’d come from where we were back then. We also wondered where we’d be 10 years later.
The founding team of Vietnam’s Tiki probably knows how we were feeling at that moment. Founded in 2010, the ecommerce major recently raised a US$258 million series E funding round, bringing its valuation closer to US$1 billion, which makes it one of the rare tech soonicorns in the country.
Image credit: Timmy Loen
Just imagine what’s in store for the company in the next decade.
You can find all other important investment deals that happened in 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 country
🇮🇩 GoTo Group: The Indonesia-based merged entity of Gojek and Tokopedia got US$900 million in late-stage funding from Avanda Investment Management, Fidelity International, Google, Permodalan Nasional Berhad, Primavera Capital Group, SeaTown Master Fund, Temasek, Tencent, and Ward Ferry.
🇨🇳 Momenta: The China-based autonomous driving company raised US$500 million from Bosch, Cathay Capital Private Equity, GGV Capital, General Motors, IDG Capital, Mercedes-Benz, SAIC Capital, Shunwei China Internet Fund, Temasek Holdings, Tencent, Toyota, and Yunfeng C in a series C funding round.
🇻🇳 Tiki.vn: The Vietnam-headquartered online marketplace bagged US$258 million in series E funding from AIA Group Limited, Mirae Asset-Naver Asia Growth Fund, STIC Investments, Taiwan Mobile, UBS, and Yuanta Investment.
Lists of most active investors in the region
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