In this week’s deals digest, Kenya’s Kasha led African deals, raising $5.3 million from the Swedish fund. Brazil led emerging markets following a $150 million investment in Conductor. However, India took the lion’s share of the number of emerging investment in this deals digest. Globally, American provider of parking management, Reef led this deals digest, raising $700 million from SoftBank Corp, Mubadala, Oaktree Capital Management, and two other investors.
Top 3 Venture Deals in Africa
Kasha, a multicategory women’s healthcare products e-commerce platform for Kenyan and Rwanda, raised $5.3 million from Swedfund in a Series B investment round. The investment will accelerate Kasha’s growth and support its expansion across other African countries.
Egypt’s Illa, an online platform for booking trucking services for FMCG companies, raised $0.5 million seed funding from Averros Ventures, Flat6Labs Cairo, AUC Angels, and other local investors. Illa will use the investment to expand into potential regional markets.
Kenya’s Agrotech Farmers Pride raised $220K in funding from Gray Matters Capital under its gender portfolio, coLABS. The e-commerce platform, which connects village level farmers to input, services, and information through women-owned Digishops, will use the funding to reach 500,000 rural female farmers to boost their income.
Top 3 Venture Deals in Emerging Markets
Brazil’s Conductor, a card issuer and banking as a services platform, raised $150 million from Viking Global Investors, Visa Riverwood Capital. The capital injection will help the fintech accelerate its product investment to unlock other markets in Latin America. Reuters says that this could be its last fundraising before an IPO in the United States.
India’s Finova capital raised $35million from Sequoia Capital and Faering Capital in a Series C funding. The micro-credit for low-income individuals and businesses raised an additional $20 million from other lenders.
Online marketplace for business loans FlexiLoans raised $20.3 million from the Falguni Nayar and Sanjay Nayar family office in a mix of debt and equity. The Indian startup will use the funds to scale its MSME lending, supply chain, and co-lending verticals.
Top 3 Venture Deals Globally in this Deals Digest
Reef Technology raised $700 million from Softbank, Mubadala, Oaktree Capital Management, UBS Management, and Target. The firm will use the financing to remake parking lots, scaling from 4,800 locations to 10,000 in the US as they transform parking empty parking lots into infrastructure like last-mile delivery spaces could kitchens, and retail spaces.
Daimler Truck AG signed a binding contract with Volvo Group for a 50% acquisition of its interest for $699 million on a cash and debt-free basis. The companies will own equal interests in the joint venture, eyeing to start consumer tests of trucks with a fuel cell in the next three years and enter production by 2025. Volvo and Daimler will still compete in vehicle technology and fuel-cell integration in trucks.
Last in this week’s deals digest, China’s Dmall close $418.5 million in series C funding from China Chengtong Holding Group, Henga, Lenovo, and three other investors.
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