Weekly Roundup: Asian tech news and startup deals

Here are the technology news, startup, and VC deals we tracked across the Asian region this week.

Weekly Roundup: Asian tech news and startup deals
Photo by Brett Jordan / Unsplash

Here are the technology news, startup, and VC deals we tracked across the Asian region this week:

  • Blockchain network Polygon raised $450 million in its first major funding round led by Sequoia Capital India.
  • Food delivery company Zomato is planning to invest an additional $400 million in the quick commerce space within the next two years. The company has already invested $225 million in the space so far in companies like Blinkit (formerly Grofers), Shiprocket, and Magicpin.
  • E-commerce platform ElasticRun raised over $300 million in a Series E round led by SoftBank Vision Fund 2.
  • XpressBees, which provides e-commerce focused end-to-end supply chain solutions, raised $300 million in a Series F round led by Blackstone Growth, TPG Growth, and ChrysCapital.
  • Singapore-based omnichannel home interior and renovation platform Livspace raised $180 million in a Series F round led by KKR & Co. with participation from existing investors Ingka Group (Ikea), Jungle Ventures, Venturi Partners, and Peugeot Investments, making it reach unicorn status. Livspace plans to expand into Saudi Arabia, the United Arab Emirates, Australia, and additional Southeast Asian countries.
  • Vernacular social media and short video entertainment platform ShareChat raised a debt round of $100 million from existing backer Tencent.
  • Philippines-based cryptocurrency exchange PDAX raised $50 million in a Series B round led by Tiger Global.
  • B2B-focused BNPL platform Mintifi raised $40 million in a Series C round led by Norwest Venture Partners and Elevation Capital.
  • Virtual events organization startup Airmeet raised $35 million in a Series B round led by Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures, and Nexxus Global.
  • South Korean startup Atommerce, a platform that allows users to connect with mental health professionals raised $16.7 million in a Series B round led by Hashed, with participation from E&Investment, K2 Investment, and Samsung Next.

The Draft provides a weekly roundup of the most important tech news across key emerging markets in Africa, Asia, Eastern Europe, Latin America, and the Middle East. Follow the rest of our coverage @techloy on Twitter.