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Hello reader,
Some years ago, around the time when mobile data plans in Singapore first started becoming more popular, it was always a struggle for me to avoid bursting my data limit each month.
Because there were only a few major players offering mobile data plans, the amount of data afforded per plan tended to be rather little. For instance, I’d only have a limit of 2 gigabytes (GB) per month for a standard monthly plan.
I was so thankful when new players entered the scene because it got a lot better after that. Many of these younger telcos often offered much more data at a very affordable rate, which intensified competition within the industry. Today, you can regularly see mobile data plans go up to 100GB of data per month.
I’m not sure whether this was the same in India, but if Reliance Jio – one of the country’s biggest telcos – made a similar change, then their recent US$2.2 billion deal is well deserved.
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 country
🇮🇳 Reliance Jio is an Indian telco that provides a 4G network in the country. It scored a US$2.2 billion strategic investment from the Swedish Export Credit Agency.
🇸🇬 Endowus is a Singaporean wealth management platform. It banked US$35 million in its latest funding round, with participation from Citi Ventures, EDBI, Lightspeed Venture Partners, MUIP, Prosus Ventures, Singtel Innov8, and UBS.
🇨🇳 Kunshan Yiyuan Medical Technology, a Chinese healthtech firm that specializes in medical X-ray tubes, has scored US$13.9 million in series B money from Everest Venture Capital, Govtor Capital, and Riverhead Capital.
M&As
Startups that are raising funds
Killer pitch decks
Tech in Asia Conference 2023
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