FB Pixel no scriptDeals in brief: eFishery secures green and social loan from HSBC, Alibaba invests in AI edtech startup, Lenskart scores USD 200 million, and more | KrASIA

Deals in brief: eFishery secures green and social loan from HSBC, Alibaba invests in AI edtech startup, Lenskart scores USD 200 million, and more

Written by Marvin Goh Published on   2 mins read

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

eFishery secures USD 30 million loan from HSBC Indonesia

eFishery, an Indonesia-based aquaculture company, has secured a USD 30 million green and social loan from HSBC Indonesia, according to a report by DealStreetAsia. The disbursement will be carried out as needed and rolled every 90 days.

The funds will be used to support eFishery’s expansion plans, increasing the number of farmers served from 200,000 up to a million. HSBC will also provide banking management services to eFishery and offer access to its network of supply chain players and local governments.

Alibaba invests in AI edtech startup Jingzhunxue

Jingzhunxue, a Hangzhou-based artificial intelligence edtech startup, has raised RMB 200 million (USD 27.6 million) from Alibaba Group. This investment will bolster the development and promotion of Jingzhunxue’s AI-powered product, Bong.

Utilizing Alibaba’s Qwen model alongside the startup’s proprietary large language model, Bong is a personalized and interactive education tool that delivers AI-generated video lessons led by digital teachers. 36Kr

Lenskart scores USD 200 million in secondary investment

Lenskart, one of Asia’s leading eyewear retailers, has raised USD 200 million in secondary investment from existing investor Temasek and Fidelity.

Including this investment, Lenskart has attracted close to USD 1 billion in capital over the past 18 months.

Rhea bags another USD 10 million

Rhea, a Singapore-based reproductive health service provider, has bagged USD 10 million in a funding round led by existing investor Thiel Capital. LifeX Ventures, Blue Lion Global, and FJ Labs also participated in this round. The funding follows its initial USD 20 million round in 2023.

With this investment, Rhea plans to acquire more clinics, expand to new markets, and build its own team of reproductive health professionals. —TechCrunch

Gogoro secures USD 50 million from Gold Sino

Gogoro, a battery swapping company based in Taiwan, has secured USD 50 million in funding from Gold Sino Assets. The company will issue 32,516,095 shares for an aggregate value of USD 1.5377 per share, and a warrant to acquire 10,838,698 shares of Gogoro with an exercise price of USD 1.6915 per share.

The funding will support Gogoro’s development in Taiwan and its international expansion.

Webtoon Entertainment, Hello Health Group, GMM Music, and more led yesterday’s headlines:

  • Webtoon Entertainment, a subsidiary of South Korean internet giant Naver, filed for an IPO in the US. The offering is led by financial heavyweights Goldman Sachs, Morgan Stanley, JPMorgan Chase, and Evercore. Webtoon plans to trade its shares on the Nasdaq Global Select Market under the symbol WBTN.
  • Hello Health Group (HHG), a digital health and wellness platform, sold a major stake to 5i Ventures (5iV), the Singapore-based investment vehicle of Dieter Schlosser.
  • GMM Music, a Thai entertainment platform and subsidiary of Thailand’s GMM Grammy, sold a 10% stake to Chinese tech giant Tencent and its Tencent Music Entertainment (TME) platform for USD 70 million.

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