Temasek, others invest US$500M in America’s plant-based meat company Impossible Foods
US-based Impossible Foods has raised US$500 million in a Series F funding round, led by South Korean investor Mirae Asset Global Investments, according to DealStreet Asia. Other investors in this round include Khosla Ventures, Horizons Ventures, and Temasek.
This brings its total funding to date to US$1.3 billion.
Impossible Foods CFO David Lee is confident about his business even though the global market is severely hit by Covid-19 outbreak.
“Whatever the headlines are, we have the means to withstand short-term shocks and realise our long-term mission,” said Lee.
The company, which uses genetically-engineered soy, had launched its newest plant-based sausages and pork earlier this year.
Shop101 raises US$3.9M to enable entrepreneurs to sell online using social media
Indian startup Shop101 has secured an additional capital of US$3.9 million in Series C funding from existing investors, including Stellaris Venture Partners, Unilever Ventures, Kalaari Capital, and Vy Capital, according to DealStreet Asia.
Prior to this, the company had raised US$11 million in Series B funding from Kalaari Capital and Unilever Ventures in December 2018.
It is not clear where the company is going to deploy the funds.
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Shop101 enables entrepreneurs to sell through social media platforms such as WhatsApp, Facebook and Instagram. It also provides delivery tracking via its tie-ups with third-party logistics players.
Other competitors in this space include Bulbul, EkAnek, GlowRoad, WMall and Alibaba.
Covid-19 forces Vietnam-focused PE firm to delay fifth fund close
Vietnam-focused Danish private equity firm PENM Partners has confirmed the delay of its fifth fund, according to DealStreet Asia.
“We were supposed to raise the fund by mid this year. But the coronavirus has caused a lot of uncertainties, so the end of this year or early next year would be more realistic,” said Hans Christian Jacobsen, managing partner of PENM Partners. The amount to be raised is about US$150 million for PENM V.
Some of the Vietnamese firms PENM Partners has invested include Hoa Phat Group, Masan Group, Taseco Airs, GTN Foods, International Consumer Products and Loc Troi.
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