In this week’s deals digest, InfraCredit led Africa with a Series B investment of $27 million from Infraco Africa. Bitso led emerging markets with a $62 million investment while China’s Hunan Xingsheng led the global investment in this week’s deals digest, following a $700 million from JD.com.
Top Venture Deals in Africa
Nigeria’s InfraCredit raised $27 million from Infraco Africa. The local currency infrastructure credit-guarantee scheme will use the equity investment to finance infrastructure. The investment pushed InfraCredit’s capital base to $173 million.
Senegal’s Oolu raised $8.5 million in a Series B funding round from RP Global, Persistent Energy Capital, All On, Gaia Impact Fund, DPI Ventures, and Dream Project. The Solar based energy startup to rural areas will use the funds to take advantage of the market gap to avail higher capacity products.
Egypt’s Source Beauty raised its seed funding this week from Geneva-based ACE & Company and angel investors. The e-commerce for beauty products will use the finances to deepen its market share, develop its platform, and grow its customer base and staff.
READ ALSO: Weekly Deals Digest Nov 18 – Nov 24
Top 3 Venture Deals in Emerging Markets
Mexico’s Bitso, a cryptocurrency exchange platform, raised $62 million from QED Investors, Kaszek Ventures, Pantea Capital, and Coinbase. The six-year-old startup will use the funds to expand in other parts of Latin America.
Indian Startup Tredence, which offers tech and analytic solutions to sales and operations teams, raised $30 million from Chicago Pacific Founders. The partnership with Chicago Founders will help Tredence tap into AI Capabilities in the healthcare services market. Trendence will use the funds to accelerate its growth in the US and expand into Europe and China.
Arya Collateral, a warehousing and collateral management service for Agri commodities, raised $21 million in a Series B investment round led by Quona Capital, with LGT Lightstone Aspada and Omnivore’s participation. Arya will use the funds from the mix of equity and debt to expand its market linkage platforms and list 3,000 new warehouses.
Top 3 Venture Deals Globally
Globally, Hunan Xingsheng, a Chinese community group-buying e-commerce platform, led the deals digest following the $700 million from JD.com. The partnership will allow collaboration between the two platforms in the supply chain, logistics, and technology.
China’s Missfresh, an app-based platform for groceries, raised $306 million from a Qingdao government-guided consortium. The e-commerce platform for fresh food will use the investment to build an industrial park base and a smart supply chain center in Qingdao, China.
Lastly, Tempus, an oncology platform for sequencing, analytics, and informatics, raised $200 million from Google, Novo Holdings, Baillie Gifford and Franklin Templeton, and Novo Holdings in a series G-2 round. The company will use the funds to expand its operations and establish itself in other disease areas.
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