M&A NEWSLETTER 04/04/2024
ScaleUP receives investment from Nextrans
ScaleUP, a provider of innovative solutions for e-commerce, announced on March 22 that it has received seed funding from the South Korean venture capital fund Nextrans.?Founded in Vietnam last year by a team of experienced professionals in retail and large-scale?e-commerce, ScaleUP is a pioneer in the 'Scale As The Service' model, which is rapidly developing worldwide. The company offers services and technology solutions to help businesses and brands maximise the potential of omnichannel sales to achieve superior revenue growth.
Vietnam-based B2B food sourcing platform KAMEREO bags $2.1 million in pre-series B funding
Vietnam-based B2B food sourcing platform KAMEREO announced that it has raised $2.1 million co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto (CEO of FOODISON, B2B seafood supply chain company listed in Tokyo Stock Exchange with ticker code of TSE7114).?The total funding amount to-date has reached $7.2 million. The company said that it intends to use the funding to focus on strengthening its sales team, increasing the range of products and private brands, and enlarging its warehouse network.
VinFast expands into Thailand
VinFast has signed an MoU with 15 Thai dealers at the 2024 Bangkok International Motor Show, taking place from March 27 to April 7. According to the agreement, VinFast and its dealers will establish 22 showrooms located on major roads throughout the metropolitan area of Bangkok.?The move is considered a key component of the car manufacturer's expansion strategy, as its range of urban electric vehicles (EVs) is expected to be more marketable in Thailand due to the high electrification rate and pre-existing charging infrastructure.
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JB Financial to invest in motorbike transaction platform in Vietnam
JB Financial Group signed a strategic investment agreement with OKXE, a used motorcycle transaction platform in Vietnam, the financial group announced on April 1st. The financial group said it will hold a stake of around 8% in OKXE after the joint acquisition of the shares by JB Financial and JB Investment. It is the group’s second investment in the Vietnamese fintech industry following a strategic investment deal with Infina, a Vietnamese financial platform, on March 6th. JB said that it aims to bolster its securities operation in Vietnam through a strategic partnership with the mobility platform.
Vietnamese startup raises $1.5mn for sand battery solution with carbon emission reduction function
Vietnamese startup Alternō has secured US$1.5 million in an oversubscribed funding round to further develop sand-based batteries for agricultural energy storage solutions, aiming to reduce carbon emissions. The funding round was jointly led by The Radical Fund and Touchstone Partners, with contributions from Antler, Impact Square, and international grants.
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