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Tiger Global Leads USD25m Series A for India’s Battery Smart
Tiger Global led a USD25m Series A for Battery Smart, an India-based electric vehicle battery-swapping network run by Upgrid Solutions, at a reported USD125m valuation, with follow-on from Blume Ventures and Orios Venture Partners. Read more here and h Read More
Alpha Intelligence Capital and Dutch Founders Fund Lead USD9.5m Series A for UAE’s Vamstar
Alpha Intelligence Capital and Dutch Founders Fund led a USD9.5m Series A for Vamstar, a UAE-based AI sourcing platform for medical supplies and pharmaceuticals, with follow-on from btov Partners and Antler. Read More
Careem Acquires UAE’s Global Ventures-backed MUNCH:ON
Careem acquired UAE-based food delivery platform MUNCH:ON for an undisclosed amount. Careem became the Middle East’s first unicorn when US-based Uber bought it in 2019 for USD3.1bn. Read more here and h Read More
Amethis, Partners To Sell 30% Stake in Kenya’s Naivas Supermarket
Amethis, with its partners IFC, DEG and MCB Private Equity, agreed to sell its 30% stake in Kenya-based retail chain Naivas Supermarket to IBL Group for an undisclosed amount. Read more here and h Read More
Temasek Leads USD80m Series B for China’s Mojia Biotech
Temasek led a USD80m Series B for Mojia Biotech, a China-based bio-manufacturing company with a focus on sustainable development and carbon neutrality, with participation from LYZZ Capital and Sento Investment, and follow-on from Bits x Bites, Asia Green Fund and other investors. Read More
ALERE Advisors Acquires 27.7% Stake in Colombia’s Agropecuaria Promialianza
Alere Advisors acquired a 27.7% stake in Colombia-based food supplier Agropecuaria Promialianza for an undisclosed amount. Read More
Zomato Acquires VC-Backed Blinkit for USD568m
Zomato acquired India-based instant grocery delivery startup Blinkit for USD568m at a reported ~USD700m valuation. Blinkit, formerly known as Grofers, is backed by Sequoia Capital, Tiger Global Management and others. Read More
Nuveen Invests in Peru’s GloboKasNet for Undisclosed Amount
Nuveen invested in GloboKasNet, a Peru-based multi-bank payment network for low-income communities, for an undisclosed amount. Maj Invest Financial Inclusion Fund III, a Danish financial inclusion investor, also invested for an undisclosed amount. Read More
Alpha Intelligence Capital and Dutch Founders Fund Lead USD9.5m Series A for UAE’s Vamstar
Alpha Intelligence Capital and Dutch Founders Fund led a USD9.5m Series A for Vamstar, a UAE-based AI-enabled sourcing and procurement platform for medical supplies and pharmaceuticals, with follow-on from btov Partners and Antler. Read More
L Catterton Asia To Raise USD360m Continuation Fund Anchored by Hamilton Lane
L Catterton Asia announced a USD360m continuation fund anchored by Hamilton Lane. The vehicle will invest in private assets held by the firm’s third Asia-focused fund, including beauty and personal care, consumer services, health and wellness and pet care investments. Read more here and h Read More
INVL Asset Management Acquires Lithuania’s MiniVet
INVL Asset Management acquired Lithuania-based vet clinic network MiniVet through INVL Baltic Sea Growth Fundfor an undisclosed amount. Read More
Vine Ventures Raises USD140m for Early-stage Venture Fund
Vine Ventures raised USD140m for Vine Ventures II. The early-stage venture fund will invest in Latin American-based financial services, logistics and supply chain companies. Read More