Deals in brief: Markato backed to transform B2B wholesale in Asia, three major deals in China, and more | KrASIA
In the midst of the challenging financial climate for startups, Zepto, an Indian company, has succeeded in becoming the first unicorn of the year in the country. This achievement was accomplished through the completion of a funding round, gathering an impressive USD 200 million in Series E funding.
Trade, be it physical stores or internet-based platforms, is an extremely crowded sector in India, with notable domestic contenders such as Swiggy, Blinkit, and Shadowfax. In addition, Amazon is also a prominent player vying for a portion of the market. So, what has prompted investors to support Zepto amidst this intense competition?
One possible factor for this could be Zepto's choice to forge a unique route in fast commerce, attaining the speediest average delivery duration of 13 minutes—setting itself apart from its competitors who typically require a day or longer for delivery.
The startup's careful handling of finances provides extra confidence for investors. Despite experiencing significant expenses, Zepto's advancements in improving its business operations, particularly in turning its underperforming stores into profitable entities, have had a powerful impact on investors.
As a rapidly expanding business in India, Zepto has set its sights on becoming publicly traded by 2025, with the ultimate goal of achieving profitability.
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That's all we have for this week. If you have any news or updates that you would like us to include, feel free to contact us using the email provided above.
Markato Secures Funds To Revamp Asia's B2B Industry
The e-commerce platform for buying goods directly from manufacturers has secured a significant investment of $5 million in its initial stage of funding. The leading contributor in this seed funding round is the venture capital company called Lightspeed, alongside other financial institutions and investors who specialize in technology ventures.
The end of the round aligns with Markato's entry into the Asian market, where its main focus will be on Hong Kong. Its main goal is to connect distinguished independent brands from non-Asian regions with retailers in the area. Markato intends to utilize the raised funds to recruit fresh tech experts and assist its market entry efforts in Asia.
FabXLab Secures Huge Investment In Series A
The Chinese company that manufactures equipment for semiconductors has managed to secure a significant amount of money in their initial funding round, thanks to the support of multiple investors. FabXLab intends to utilize this financial boost to grow their research and development team, create innovative products, and enhance their marketing and promotional strategies.
RMB 120M Investment Boosts Light Universe
The Chinese renewable energy company has successfully obtained new financial support totaling RMB 120 million (approximately USD 16.4 million) after completing a fresh round of funding led by U-Home Group. Other participants in this round included Shenzhen Yuto Packaging, Xiamen Solex High-Tech, Canny Elevator, Meilleure Health International Industry Group, Ramon Science & Technology, and various other investors.
Light Universe Mega Power plans to utilize the funds for the advancement of carbon-neutral parks, consolidated solar systems, and the emerging energy sector.
Future Carbone Secures Big RMB Funding For Graphite Production
The maker of isostatic graphite materials, which is located in China, has successfully raised RMB 100 million (USD 13.7 million) in a Series B funding round. Shenzhen Capital Group took the lead in the funding round, with involvement from Leaguer Capital, Septwolves, and Seu Capital.
Future Carbone plans to use the funds to increase the production capacity of its facility in Sichuan and continue with its product research and development activities in order to meet the growing demand from the market below.
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