This startup raised money to fight competition in China

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Indonesia-based logistics firm J&T Express’ US$2 billion late-stage funding round was the largest deal to take place in Southeast Asia this week.

What’s interesting is that the capital injection comes ahead of a potential US listing for the company, which is one of 36 Asian tech players (so far) eyeing an initial public offering this year.

J&T Express has been expanding aggressively into China. With a significant number of its rivals there backed by local tech titan Alibaba, perhaps this latest financing round will help the startup gain an edge over them.

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.

BIGGEST DEALS BY COUNTRY

🇮🇩 J&T Express: The Indonesian logistics firm raised US$2 billion in late-stage funding from Boyu Capital, Hillhouse Capital, and Sequoia Capital China.

🇮🇳 Swiggy: The India-based food ordering and delivery company scored US$800 million in series J money from Amansa Capital, Carmignac, Falcon Edge Capital, Goldman Sachs, and Think Investments.

🇨🇳 100me Technology: The Chinese ecommerce platform, which specializes in fresh vegetables, raised a series D round worth US$700 million from 3W Partners, APlus Partners, Aspex Management, CMC Global, Capital Today, Coatue Management, Cygnus Equity, DST Global, General Atlantic, Hony Capital, MassAve Global, Ocean Link, Sequoia Capital, and Tiger Global Management.

🇸🇬 Trax Retail: The Singapore-headquartered retail tech firm bagged US$640 million in series E money from OMERS Ventures, SoftBank Vision Fund, and Sony Innovation Fund.

Lists of most active investors in the region

List of top-funded startups in Asia