Transactions Summarized: eFishery acquires a green and socially responsible loan from HSBC, Alibaba pours investments into an AI-driven education technology startup, Lenskart garners USD 200 million, and further developments.
Headline: Major Investments Transform Digital Health, Edtech, and Eyewear Sectors Across Asia
In a series of significant investments, various companies across Asia have secured funding to drive growth and innovation in digital health, edtech, and eyewear sectors.
Digital Health
Hello Health Group (HHG), a prominent digital health and wellness platform, has sold a major stake to 5i Ventures (5iV), the Singapore-based investment vehicle of Dieter Schlosser. This funding round follows Rhea's initial USD 20 million round in 2023. Rhea, a Singapore-based reproductive health service provider, secured USD 10 million in a funding round led by existing investor Thiel Capital.
Edtech
Jingzhunxue, a Hangzhou-based artificial intelligence edtech startup, raised RMB 200 million (USD 27.6 million) from Alibaba Group. The investment will be used to develop and promote Jingzhunxue's AI-powered product, Bong, a personalized and interactive education tool that delivers AI-generated video lessons led by digital teachers.
Eyewear
Lenskart, one of Asia's leading eyewear retailers, raised USD 200 million in secondary investment from existing investors Temasek and Fidelity. Including this investment, Lenskart has attracted close to USD 1 billion in capital over the past 18 months.
Aquaculture
eFishery, an Indonesia-based aquaculture company, secured a USD 30 million green and social loan from HSBC Indonesia. The funds secured by eFishery will be used to expand its operations, aiming to serve up to a million farmers. HSBC Indonesia will provide banking management services to eFishery and offer access to its network of supply chain players and local governments.
Entertainment
GMM Music, a Thai entertainment platform and subsidiary of Thailand's GMM Grammy, sold a 10% stake to Chinese tech giant Tencent and its Tencent Music Entertainment (TME) platform for USD 70 million. Webtoon Entertainment, a subsidiary of South Korean internet giant Naver, filed for an IPO in the US. Webtoon plans to trade its shares on the Nasdaq Global Select Market under the symbol WBTN.
Battery Swapping
Gogoro, a battery swapping company based in Taiwan, secured USD 50 million in funding from Gold Sino Assets. Gogoro, a battery swapping station company from Taiwan, received 50 million US dollars from Gold Sino. Gogoro will issue 32,516,095 shares for an aggregate value of USD 1.5377 per share, with a warrant to be issued to acquire 10,838,698 shares of Gogoro with an exercise price of USD 1.6915 per share. The funding will support Gogoro's development in Taiwan and its international expansion.
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