INFOGRAPHIC: Top Asian Startup Funding — Week 20
These are the funding deals we tracked in the Asian region this week – including Meesho, Go Digit, Battery Smart, Linnovate Partners, Red.Health, Osome
- Meesho Secures $275 Million in First Tranche, Eyes $600 Million Round
- Go Digit Raises $141 Million in Pre-IPO Funding Backed by Major Investors
- Battery Smart Raises $45 Million to Expand Battery-as-a-Service Operations
- SeaTown Invests $40 Million in Linnovate Partners
- Red.Health Secures $20M to Enhance Medical Emergency Response Services
- Osome Secures $17 Million in Series B Extension Amid Restructuring Efforts
Meesho Secures $275 Million in First Tranche, Eyes $600 Million Round
- Indian e-commerce platform Meesho has successfully closed the first tranche of its funding round, raising $275 million through a mix of primary and secondary share sales. This marks the beginning of a larger $600 million financing round that the Bengaluru-based company is aiming to finalize.
- Meesho operates as an e-commerce platform that empowers small businesses and entrepreneurs to sell products online. It provides a platform for individuals to start their own online businesses by connecting them with suppliers and customers.
- The fresh funds will be utilized to advance Meesho's growth initiatives, including enhancing its technology infrastructure, expanding its product offerings, and strengthening its market presence.
Go Digit Raises $141 Million in Pre-IPO Funding Backed by Major Investors
- Indian insurance startup Go Digit secured $141 million in pre-IPO funding that began on Wednesday. Anchor backers for the IPO include prominent names such as Fidelity, Goldman Sachs, Morgan Stanley, and the Abu Dhabi Investment Authority, among others.
- Founded by Kamesh Goyal, the Mumbai-based startup offers a range of insurance products including auto, health, travel, and accidental insurance. The startup streamlines the insurance experience by providing a seamless, smartphone app for purchasing insurance, self-inspections, claims submission, and service requests.
- Go Digit seeks to raise around $313 million from the IPO, targeting a valuation of approximately $3 billion. It aims to utilize the funds raised from the IPO to further expand its operations and offerings.
