Kate Park
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Chemical giant Denka dives into VC with $100M fund managed by Pegasus Tech • TechCrunch
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Pegasus Tech Ventures, a Silicon Valley-headquartered venture capital firm that helps corporations invest in startups, said it has set up a $100 million fund with Japanese chemical and life science company Denka.
Denka, a 107-year-old firm, is the sole limited partner of the newly established corporate venture capital fund...
Terra Drone said today it has raised $14 million in Series C funding from Wa’ed Ventures, the venture capital arm of Saudi Aramco, marking the VC firm’s first investment in Asia.
The Japan-headquartered company, which builds drone software, hardware and uncrewed aircraft traffic management software, said the new capital...
P2P lending platform PeopleFund raises $20M Series C extension led by Bain Capital • TechCrunch
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PeopleFund, a South Korean marketplace that connects borrowers and investors to enable lending, has recently added $20 million to its $63.4 million Series C.
Existing backer Bain Capital led the extension, with participation from previous investors such as Access Ventures, CLSA Capital Partners Lending Ark Asia, D3 Jubilee Partners,...
Kakao Entertainment lands $966M from sovereign wealth funds, including Saudi Arabia’s PIF • TechCrunch
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Kakao Entertainment announced today it has raised $966 million (1.2 trillion won) in financing from sovereign wealth funds, such as Saudi Arabia’s Public Investment Fund (PIF) and Singapore-based PWARP Investment. The entertainment subsidiary of South Korean internet giant Kakao operates storytelling platforms (web novels and webtoons), music, K-pop...
Korean handmade goods marketplace Backpackr gears up to expand into Southeast Asia • TechCrunch
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About a decade ago, Donghwan Kim helped his cousin, a ceramist, look for sales channels, like flea markets, to sell his ceramics. But they had a hard time locating a suitable platform, so after about a year, Kim decided to create a marketplace for handmade goods himself in...
Samsung’s quarterly profit hits 8-year low amid weak demand for memory chips, smartphones • TechCrunch
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Samsung Electronics’ operating profit plummeted 69% to $3.4 billion in the quarter that ended in December to an eight-year low, according to its preliminary estimates, as the global demand for memory chips and smartphones wanes due to high inflation and slowing economy.
“Amid continued external uncertainties, including a potential...
Plugo, an e-commerce support platform for D2C brands in Southeast Asia, picks up $9M Series A • TechCrunch
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Singapore-headquartered startup Plugo has secured $9 million in a Series A funding round. The company offers a complete spectrum of e-commerce support services for direct-to-consumer (D2C) brands, from making a website, setting up a payment system, and managing marketing to handling shipping, warehousing, and logistics. In other words,...
Japan’s health-tech Ubie wants to fuel its U.S expansion with $19M Series C extension • TechCrunch
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Ubie, a Tokyo-based startup providing an AI-powered symptom checker app and hospital SaaS products, has closed a $19 million extension to its previous Series C round. This brings the health tech startup’s total funding to $45.2 million in Series C.
The extension round consists of 90% equity and 10%...
Akros Technologies, an AI-powered asset management platform, raises funding from Z Holdings • TechCrunch
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Artificial intelligence is taking over almost every industry. The investment and finance industry is no exception. In Deloitte’s 2019 report, the firm reveals that AI is transforming the financial ecosystem to reduce costs and make operations more efficient by providing automated insights and alternative data, analysis and risk...
Seoul court rejects warrants for former Terraform Labs employees and investors over Luna collapse • TechCrunch
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A Seoul court rejected a request from prosecutors for warrants to detain eight people related to Terraform Labs, including the co-founder of Terraform Labs, Daniel Shin, early investors and former engineers.
It’s difficult to believe they would flee or destroy evidence as Shin and the seven other suspects have...