Tencent is reportedly set to co-lead a round for online education platform Yuanfudao with an original target size of $1bn and a rumoured $7.5bn valuation.
Month: March 2020
Scopely swells series D to $400m
The mobile game publisher received $200m from Advance and existing backer The Chernin Group at a $1.9bn valuation and has now raised about $560m in total.
DuPont Ventures gets dropped
DuPont is shutting down its corporate venture capital arm as part of a cost-saving process that will involve it cutting its corporate innovation activities.
Rehman rises to managing partner at Vision Fund
Faisal Rehman, previously a partner who managed SoftBank Vision Fund’s Middle East investments, has ascended to managing partner following the departures of several key executives.
SIG helps insert $25m into InsGeek
Susquehanna International Group co-led a series C round for insurance technology developer InsGeek, whose shareholders already include Legend Holdings and Fosun.
Maven makes away with LiftIgniter
Smart recommendation platform developer LiftIgniter has been purchased by Maven after raising $8.3m from investors including NTT Docomo Ventures.
GM Ventures’ Lauckner to retire
GCV Powerlist mainstay Jon Lauckner has announced his imminent retirement from General Motors after leading the firm’s GM Ventures unit for a decade.
Penta pins down series A funding
The banking platform developer has raised $21.6m in a first close of its series A round that was co-led by ABN Amro and also backed by Berliner Volksbank.
Bigbasket bids to absorb MilkBasket
The Unilever and Lenovo-backed grocery delivery service has raised $28m but could reportedly be acquired at a valuation below $15m.
FIS helps Billon fill up series A round
The enterprise blockchain software developer raised more than $6m from investors including FIS to take its overall equity and grant funding to more than $16m.
AnyMind picks up Pokkt
SingTel Innov8 has exited in-app advertising platform developer Pokkt through an acquisition by AdAsia owner AnyMind Group.
SAP.io sparks spring 2020 accelerator
The spring 2020 intake of SAP.io focuses on the travel and expenses space with participants in areas including machine learning software, carbon offsetting and expense management.
Boro borrows LexinTech for $12m series A
Consumer lender LexinFintech led a series A round for student lending service Boro and will help it expand into the Chinese market.
Finding innovative partnerships to tackle Covid-19
Desperate times can make for unusual measures.