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Startups across the region raised a whopping US$8.7 billion in disclosed funding this week.
You might think a whole lot of Asian startups raised a good amount of money, but you’d be wrong. As is often the case in a week that sees a huge amount of invested capital, most of it – US$6 billion, to be precise – went to one company: Sea Group.
The Southeast Asian tech giant raised the money in an equity and bond sale to aid Shopee’s growth in Latin America and the expansion of Sea’s food delivery business across Southeast Asia.
But it’s not like the rest of the region was slacking off. For example, Xendit, an Indonesia-based payment gateway company, raised a Cool (with a capital “C”) US$150 million in a series C funding round. And just like that, one more Southeast Asian startup joined the unicorn club.
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
🇸🇬 Sea Group: The tech major headquartered in Singapore raised US$6 billion in an equity and convertible bond sale.
🇨🇳 DeepRoute: The China-based self-driving car company bagged US$300 million in series B money from Alibaba Group, Geely Auto, and Jeneration Capital.
🇮🇳 Cars24: The Indian used-car marketplace secured US$258.6 million in series F funding from Alpha Wave Incubation, BloombergSen Investment Partners, DST Global, Exor Seeds, Moore Strategic Ventures, and Tencent.
🇮🇩 Xendit: The Indonesia-based fintech firm secured US$150 million in series C money from Accel Partners, Amasia, Goat Capital, and Tiger Global Management.
Lists of most active investors in the region
List of top-funded startups in Asia
List of largest exits in Asia
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