China's Alibaba, Japan's SoftBank and Taiwan's Foxconn will lead an investment of USD500 million in India's Snapdeal, the online marketplace said on Tuesday, as it seeks to expand in the country's fast growing e-commerce sector.
The move is a vote of confidence from three of the world's biggest technology companies in Snapdeal, which in October got a USD627 million investment from SoftBank, also an early backer of Alibaba.
Indian online marketplace Snapdeal is set to raise USD500 million from a group of foreign investors including China's Alibaba Group Holding Ltd, three people familiar with the matter said on Monday.
The latest round of support, from investors also including SoftBank Group Corp and Foxconn, the trading name of Hon Hai Precision Industry Co Ltd, would value Snapdeal at more than USD5 billion, another person said.
The latest Indonesian e-commerce venture, MatahariMall.com, is the second-best funded startup in Southeast Asia, according to a report by Tech in Asia.
MatahariMall.com is an initiative of the Lippo Group, which has allocated USD500 million in investment over the next two to three years to create an e-commerce company with an expected USD1 billion in sales within one-and-a-half to two years that will become the "Alibaba of Indonesia".
Foodpanda and its affiliated brands hellofood and Delivery Club announced a new financing round of USD60 million from a group of investors, including existing investors Falcon Edge Capital and Rocket Internet AG.
"Specifically, we will use this to further escalate growth in the Singapore and Hong Kong markets and put it towards building a great product and offering a better selection of choices to our customers," Chinmay Malaviya, Managing Director Singapore, Hong Kong
Online fashion and garment retailing is becoming a mainstream business and will drive India's retail story going ahead, feel investors and other industry players.
That's why private equity and venture capital firms are pumping money into portals such as Myntra and Jabong. Now, the investor focus would be more on profitability.
Southeast Asia's price comparison platform PricePanda secured USD3 million in new funding from Tengelmann Group.
The e-commerce website offers detailed reviews about consumer electronics, including mobile phones, software, TV, and audio kits in Mexico, Malaysia, Philippines, Indonesia and Singapore. Shoppers can find and compare products and services from more than 100 categories.
Christian Schiller, Co-Founder and Managing Director PricePanda, said the new funding will allow the company to expand its operations in other countries.
Lazada is expanding its mobile repertoire with the launch of an app for iPhone and iPad across the region.
The launch follows the online shopping mall's recent investment round of approximately $250 million from investors including retail giant Tesco, and the success of its app for Android.
The new app is fully optimized for iOS 7 and allows on-the-go shoppers to navigate Southeast Asia's broadest brand and product assortment across several categories including consumer electronics, gadgets, apparel, shoes and accessories.
Lazada, one of Southeast Asia's largest online shopping malls, raised approximately USD250 million in a new round of funding from a group of investors including multi-channel retailer Tesco PLC.
The move is Tesco's first investment into a purely online retailer in the region and the start of close cooperation between the parties.
Lazada said the partnership will span across customer analytics, private label development and supply chain management.
Dispelling past criticism over raising money from only existing investors, Flipkart has announced the closure of its latest round of funding by raising Rs 990 crore (USD160 million) from new and existing investors. The new investors include Morgan Stanley Investment Management, Sofina and Vulcan Capital, and Dragoneer Investment Group.
In September 2012, a cloud-based customer, sales and inventory management tool for small retailers was launched in a public beta. Its creators, one of whom was once a small fashion retailer himself, had set their sights on developing a backend systems that would be cost-effective for small and medium enterprises (SMEs).