Acquisition Announcement: Jirnexu Buys MoneyHero's Malaysian Division; Xurya Secures Extra USD 55 Million; ten Business Deals From China and India
In the world of technology and finance, several significant developments have taken place recently. Here are some of the key highlights:
Funding Round-up
- Kernelsoft, an automotive software provider, has raised nearly RMB 100 million (USD 13.7 million) in angel funding, bringing Xurya's total investment to over USD 90 million. The investment was led by Norfund's Norwegian Climate Investment Fund.
- Mumuxili, a Nanjing-based technology development company, has secured tens of millions of RMB in a Series A+ round of financing. Swedfund, Clime Capital, British International Investment (BII), and AC Ventures also participated in the investment round.
- Urtopia, an electric two-wheeler brand, has secured over USD 10 million in Series A funding.
- CreativeFitting, the startup behind the generative artificial intelligence app Reel.AI, has raised a seven-figure RMB sum of pre-Series A+ funding from Baidu.
- Rare Rabbit, a high-end apparel brand, has raised INR 1.5 billion (USD 18 million) in primary capital.
- Longbridge Group, a fintech company, has announced that it landed over USD 100 million in additional funding from various investment institutions, including Singaporean consortia.
- Esqa Cosmetics, an Indonesian vegan cosmetics brand, has reportedly raised an additional USD 4 million from Unilever Ventures in its Series B funding round.
- Sucheon Technologies, a Xiamen-registered industrial solutions provider, has raised tens of millions of RMB in Series C1 funding from BeFor Capital.
- Xurya, an Indonesian renewable energy company, has received an additional USD 55 million investment, but the investors are not mentioned in the provided search results.
- Rainier Technology, a Chengdu-based company specializing in digital beamforming algorithms, broadband signal digitization, and radio frequency (RF) frontend digitization, has completed its Series A funding round, led by Addor Capital.
Mergers and Acquisitions
- Jirnexu, a Malaysian fintech company, is set to acquire CompareHero, MoneyHero Group's B2C brand in Malaysia. The deal is expected to complete in July 2024, and MoneyHero will retain an equity stake in Jirnexu for its long-term strategy in the Malaysian market.
Financing
- FundPark, a Hong Kong-based fintech company, has obtained a three-year USD 250 million private loan. HSBC Holdings acted as the senior facility provider for the loan.
As these developments indicate, the tech and finance sectors continue to see significant investment and growth, with a focus on renewable energy, electric vehicles, and digital solutions. Stay tuned for more updates in the coming weeks.
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