Data Vantage | DALI, CompAsia, Pallav and GlobalTix in focus
Edition #421, 5 November 2024
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Dear Reader,
Philippines-focused hard discount retail chain DALI Discount received $10 million from the Asian Development Bank (ADB) last week.
The transaction brings the total external investment in the firm, a subsidiary of Swiss firm DALI Discount AG, to a little over [redacted] million. Its other investors include Creador, Venturi Partners and Pavilion Capital.
The investment from ADB will finance the expansion of DALI’s network of hard discount retail stores and distribution centres, and procurement from local private label suppliers, according to a disclosure by the development finance institution.
According to Philippine media reports, the Southeast Asian business saw its net loss more than double to 1.88 billion pesos in 2023. Its revenue surged more than 100% to 22.31 billion pesos last year.
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Greater China funding picks up in Q3
Capital raised by startups headquartered in Greater China rose 40.2% sequentially in the third quarter of this year to $12.69 billion, finds the latest report by DealStreetAsia — DATA VANTAGE.
Deal volume, however, continued its downward slide in Q3, dropping 5.9% from the previous quarter to 493, according to Greater China Deal Review: Q3 2024.
On a year-on-year (YoY) basis, total proceeds declined by 10% in Q3 2024, while the deal count dropped by 26.4%.
Funding bagged by Greater China startups
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Other updates from DATA VANTAGE
Recommerce platform CompAsia bagged [redacted] million last week from investors, including OSK-SBI Dynamic Growth Fund 2 Ltd, the second venture capital (VC) vehicle of OSK-SBI Venture Partners.
Fintech startup Pallav Technologies issued shares worth [redacted] million last week to M Venture Partners, Kadan Capital, Monk’s Hill Ventures and others. The firm recently announced raising an undisclosed amount in seed funding.
Ticketing platform GlobalTix received $3.4 million from SEEDS Capital, Tin Men Capital and ORZON Ventures last week. The funding is part of a S$6.5 million round announced in October.
Southeast Asian e-commerce player Lazada injected [redacted] million into its fintech arm, LazadaPay, last week.
Reebelo, an e-commerce platform for refurbished gadgets, has received additional capital worth [redacted] million from its US-based parent, Quista Technology, Inc.
VC firm [Redacted] bought shares in the Indonesian property transaction platform Pinhome from other shareholders last week.
A subsidiary of Lam Hong Renewables has bought secondaries in solar photovoltaic (PV) technology company EtaVolt, which provides solar regeneration, lifecycle reassessment and end-of-life PV solutions.
Southeast Asian cross-border e-commerce enabler SCI Ecommerce reported a net profit of [redacted] million in 2023, compared with a restated net loss of $16.2 million in the previous year.
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