Jio Platforms continues to take the lead in Asian fundraising in July

This article is part of a series of monthly reports where we keep track of tech funding activities in Asia.

Asia saw over US$19 billion in total funding across more than 500 deals in July. This exceeds the previous month’s record of US$11 billion in total investments in over 400 deals.

Jio Platforms, Reliance Industries Limited’s digital services arm, continues to take the lead as it wrapped up its fundraising spree with Google’s US$4.5 billion injection. The US tech giant’s investment is the second-largest amount of funding Jio received following Facebook’s US$5.7 billion deal.

Jio also received US$253 million from Intel Capital and US$97 million from Qualcomm Ventures during the month. It has raised a total of over US$20 billion since April.

Besides Jio, Autohome also received huge funding in July via a US$2.5 billion deal with Ping An Group. A leading car-buying platform in China, Autohome provides a comprehensive automobile library, auto financing services, as well as sales leads, data analysis, and marketing services for dealers. It also operates an online full-service transaction platform called Autohome Mall.

Other notable deals in July include Flipkart’s US$1.2 billion round led by Walmart, Xpeng Motors’ US$500 million series C+ round, and a US$495 million injection into Chinese online grocery platform MissFresh, among others.

In total, over half of the total funding in July went to China (55%), followed by India (16%), Japan (9%), South Korea (7%), and Singapore (7%).

SOURCE

Data: Tech in Asia
Infographics: Susi Susanti
Analysis: Doris Yu
Editing: Miguel Cordon