INFOGRAPHIC: Top Asian Startup Funding — Week 20

Emmanuel Oyedeji -
  • Meesho Secures $275 Million in First Tranche, Eyes $600 Million Round
  • Go Digit Raises $141 Million in Pre-IPO Funding Backed by Major Investors
  • Battery Smart Raises $45 Million to Expand Battery-as-a-Service Operations
  • SeaTown Invests $40 Million in Linnovate Partners
  • Red.Health Secures $20M to Enhance Medical Emergency Response Services
  • Osome Secures $17 Million in Series B Extension Amid Restructuring Efforts

Meesho Secures $275 Million in First Tranche, Eyes $600 Million Round

  • Indian e-commerce platform Meesho has successfully closed the first tranche of its funding round, raising $275 million through a mix of primary and secondary share sales. This marks the beginning of a larger $600 million financing round that the Bengaluru-based company is aiming to finalize.
  • Meesho operates as an e-commerce platform that empowers small businesses and entrepreneurs to sell products online. It provides a platform for individuals to start their own online businesses by connecting them with suppliers and customers.
  • The fresh funds will be utilized to advance Meesho's growth initiatives, including enhancing its technology infrastructure, expanding its product offerings, and strengthening its market presence.

Go Digit Raises $141 Million in Pre-IPO Funding Backed by Major Investors

  • Indian insurance startup Go Digit secured $141 million in pre-IPO funding that began on Wednesday. Anchor backers for the IPO include prominent names such as Fidelity, Goldman Sachs, Morgan Stanley, and the Abu Dhabi Investment Authority, among others.
  • Founded by Kamesh Goyal, the Mumbai-based startup offers a range of insurance products including auto, health, travel, and accidental insurance. The startup streamlines the insurance experience by providing a seamless, smartphone app for purchasing insurance, self-inspections, claims submission, and service requests.
  • Go Digit seeks to raise around $313 million from the IPO, targeting a valuation of approximately $3 billion. It aims to utilize the funds raised from the IPO to further expand its operations and offerings.