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Vietnamese e-wallet MoMo picks up local AI startup in first acquisition deal
The acquisition was made through MoMo Innovation Ventures, which was launched this year.
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Tech in Asia
Content Partner • techinasia@kr-asia.com
Kredivo CEO Umang Rustagi said the funds will help the company reach its target of 10 million users in the country.
EV Growth, the growth-stage arm of East Ventures, joined the latest round.
Shopee is concentrating on Brazil as its main market in Latin America, while other countries such as Mexico are part of an "asset-light" approach in the region.
A report by Euromonitor International further forecasted that retail e-commerce sales in the Asia Pacific would nearly double and reach USD 2 trillion in 2025.
Masan-controlled VinCommerce will gain the right to sell its groceries on Lazada Vietnam.
Una Brands said it will use the funds to acquire companies that generate between USD 300,000 and USD 20 million in annual revenue.
In July, Hong Kong-based AMTD Digital acquired a controlling stake in Fomo Pay.
Austrianova uses proprietary technology to encapsulate cells and bacteria for use in the medical space.
Once the final close is completed, Openspace will have USD 625 million in committed capital across four investment vehicles.