In this issue of the weekly deals digest, Liquid Telecom took the crown in Africa, raising $40 million in a Series C funding in Mauritius. In emerging markets, India’s Eightfold, a talent intelligence enterprise applications provider led the category at $125 million while globally, Ligado took the helm, raising $3.9 billion for its IoT enabled satellite connectivity solutions. All emerging market deals in this deals digest this week came from India.
Top Venture Deals in Africa
Liquid Telecom, a data voice and Internet provider in Eastern, Central and Southern Africa raised $40 million a Series C funding round led by UK development finance Institution CDC group. The funding is part of a a$307 million rights issue to drive its expansion in the continent, tapping into emerging areas like cloud-based applications and boosting connectivity.
Udok, a South African provider of online medical consultancy, raised $0.6 million led by FinEx capital. The telehealth provider will use the investment to expand its nationwide technology, allowing users to access its services through 200 Click Pharmacies, its partner. Udok serves south Africans through online consultations and pharmacy clinics like Clicks.
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Kenya’s Data Integrated, an online payments and financial solution for businesses, has raised undisclosed funding from Toyota Tsusho and CFAO’s Mobility 54. The investment is part of Toyota Tsusho’s initiative to accelerate the development of mobility as a service software to complement Data Integrated’s solutions such as its bus management and ticketing platform already operation in Kenya.
Top Venture Deals in Emerging Markets
India dominated the emerging market space in this week’s issue of the deals digest. Eightfold AI raised $125 million in a Series D funding round led by General Catalyst Partners, Capital One, Foundation Capital, IVP and Lightspeed Venture Partners. The funding round pushes its valuation past $1 billion. The provider for AI-driven talent management solutions will use the funding to expand Talent Intelligence Platform, an AI-powered solution to managing the entire talent lifecycle.
InVideo, an interactive video production platform for marketing, raised $15 million from Sequoia Capital, Tiger Global Management and RTP Global. The Mumbai based video editing startup will use the Series A funds to accelerate product development and build its cross-device video creation suite.
Finally, India’s Jumbotail, an online B2B marketplace for food and groceries raised $11 million in a Series B2 funding round from Heron Rock, Nexus Venture Partners, Pimpernel Holdings, Reaction Fund and Siddhi Capital. The company will use the funds to scale its businesses to new geographies and boost its go to market services for its FMCG brands looking to enter small stores.
Top Venture Deals Globally in this Deals Digest
Ligado Network raised $3.9 billion from unmentioned investors to fund its L-Band network. This is the biggest deal in this issue of the Deals Digest. The finances will also strengthen the firm’s commercial collaboration with chipset designers, infrastructure providers and device manufacturers.
Chinese Edtech Yuanfudao, a provider of online test preparation services, raised $1.0 billion from DST Global, Temasek, GIC, DCP and TrustCapital. The investment will be followed by another $1.2 billion in a following G2 investment round, which will push its valuation past $15.5 billion.
Lastly, US’ Oak View Group closed this deals digest, receiving a $414.9 million investment from singer Harry Styles. The company will use the funds in a live co-op arena in Manchester. Oak View Group is a global sports and entertainment company offering VC investment to sports-based companies.
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