Alibaba’s Trendyol tests waters for USD 1 billion funding
Trendyol, Turkey’s largest e-commerce platform, is exploring a USD 1 billion funding round as it eyes expansion opportunities, according to Bloomberg. Discussions are said to remain preliminary, with the company gauging potential investor interest for a formal raise, which could start as early as next quarter.
The Alibaba-backed platform last raised USD 1.5 billion in 2021, led by SoftBank Group and General Atlantic, securing a valuation of USD 16.5 billion. Other backers included Middle Eastern sovereign wealth funds and Princeville Capital.
Founded in 2010, Trendyol has grown into a cornerstone of Alibaba’s overseas e-commerce business, which spans platforms like AliExpress and Lazada.
Alibaba’s recent leadership shift, appointing Jiang Fan to helm its international commerce unit, underscores its focus on adapting to global e-commerce pressures.
MUFG targets full control of WealthNavi in USD 664 million bid
Japan’s Mitsubishi UFJ Financial Group (MUFG) has launched a JPY 99.7 billion (USD 663.2 million) tender offer to acquire full ownership of WealthNavi, according to Reuters.
The offer price of JPY 1,950 (USD 13) per share reflects an 84% premium over WealthNavi’s November 28 closing price, which surged by the daily limit after reports surfaced about the deal.
MUFG, which already holds a 15% stake, plans to deepen its foothold in Japan’s investment landscape, where WealthNavi manages over JPY 1 trillion (USD 6.6 billion) in assets.
Recent deals completed in China:
- MetaNovas Biotech, an artificial intelligence-driven health and nutrition company, has raised an undisclosed amount in a Series A funding round co-led by GL Ventures and Pagoda Top Capital. Public company Ruoyuchen also participated, with MM Capital advising. The proceeds will fund product development, raw material registration, and international expansion. —36Kr
- Polaris-Vision, a cosmetics ingredient innovator, has completed an extension to its angel funding round. It was led by Cowin Venture Capital, with participation from Pure Funds and Shuimu Tsinghua Alumni Seed Fund. The newly raised funds will be used to enhance its R&D pipelines and supplement working capital. —36Kr
- Attrsense, an AI startup focused on video compression and intelligent vision, has secured an eight-figure RMB sum from Fullhan Microelectronics. The proceeds will be utilized for innovation activities and business expansion. —36Kr
- High Speed Suspension Power Technology (HSS), a company specializing in magnetic suspension technology, has closed a Series A++ funding round worth tens of millions of RMB. The round was solely backed by Ying Capital. The proceeds will be allocated toward R&D and commercialization. —36Kr
- Otronic, a surgical robotics firm, has raised an eight-figure RMB sum of pre-Series A funding, led by Rays Capital. The funds will help Otronic advance product development and marketing efforts for its natural orifice surgery robots. —36Kr
- XR Technology, a provider of automation solutions for the life sciences industry, has completed a Series A+ funding round jointly invested by Huatai Securities’ biopharmaceutical fund and Shunwei Capital. The funding will bolster XR’s R&D efforts to support drug discovery and diagnostics innovation. —36Kr
- Luming Robotics, a humanoid robotics startup founded in 2024, has raised an undisclosed sum of angel funding from Innoangel Fund and SenseCapital to advance its embodied robots designed for home use. The startup plans to launch its first humanoid robot product soon. —36Kr
- Xiwi Cloud, an industrial AI software firm, has closed a pre-Series A round of financing, bagging tens of millions of RMB. Yonghua Capital led the investment with the support of individual backers from the industry. —36Kr
- Zhongde Technology, a thermal management solutions provider, has completed a pre-Series A funding round, banking an eight-figure RMB sum from Cowin Capital and existing investors such as Jifu Metallic. The funds will be used for R&D and to expand Zhongde’s production capacity for its heat management solutions. —36Kr
- Interstellor, a commercial aerospace firm, has raised RMB 30 million (USD 4.2 million) in an angel funding round. QF Capital was the sole investor. The proceeds will be used to develop reusable spacecraft and validate suborbital manned flight safety systems. —36Kr
Habitto, OpenAI, Partior, and more made recent headlines:
- Habitto, a Japanese digital bank, raised USD 11.7 million in Series A funding from QED Investors, DG Daiwa Ventures, and Scrum Ventures. Returning investor Anthemis Group and other existing shareholders also participated in the round.
- OpenAI is offering employees the opportunity to sell USD 1.5 billion in shares to SoftBank’s Vision Fund 2.
- Partior, a fintech firm enabling real-time clearing and settlement on a unified ledger, closed an USD 80 million Series B funding round with Deutsche Bank joining as an investor.
If there are any news or updates you’d like us to feature, get in touch with us at: hello@kr-asia.com.