The pursuit of M&As

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Hello reader,

If you’ve been following this newsletter for a while, you’ve probably noticed the dearth of M&As over the past few weeks. It’s kind of sad if you think about it.

But even in the dark, there’s light. Today, we have two M&As on our list. Plus, the recent news of Publicis Groupe acquiring Hepmil Media Group has certainly brought some joy to the community, showing that you can build companies that will yield great returns in the region.

IPOs may be hard to come by in Southeast Asia these days, but that’s OK. M&As are definitely another exit avenue, and they’re just as valuable in the story of the region’s tech landscape.

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 have recently taken place.

— Stefanie

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The biggest deals by market

🇮🇳 Snapmint offers buy now, pay later solutions in India. It has raised US$125 million in a series C round from Elev8 Venture Partners, Kae Capital, and Prudent Investment Managers.

🇺🇸 MoEngage is a marketing automation platform for mobile apps. Headquartered in the US, it has secured US$100 million in series F funding from A91 Partners and Goldman Sachs.

🇨🇳 Wuhan Weineng Battery is a car battery rental service under Chinese electric vehicle manufacturer Nio. It has bagged US$94 million in series C money from Hainan Chengmai Investment and Haining Economic Development Industrial Park Development and Construction Co., Ltd.

🇹🇼 CloudMile is a Taiwanese company that helps enterprises with business forecasts and industrial upgrades, leveraging machine learning and big data analysis. It has raised US$20 million in series A money from Nexus CVC and TFB Capital.

🇯🇵 Note, formerly known as Piece of Cake, is a social publishing platform from Japan. It has secured a US$14 million strategic investment from Naver.

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M&As

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Startups that are raising funds

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Behind the Glasswall

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