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8 eCommerce news: Delhivery raised US$76.4 million funding

India

1. Indian logistics company Delhivery received US$76.4 million from Addition.

According to TechCrunch, this funding is part of the company's Series I financing. It is reported that Delhivery received US$277 million in its H round of funding in May this year. There is news that Delhivery plans to go public in India from December 2021 to March 2022.

2. India's B2B cross-border procurement service platform Geniemode raised a million-dollar seed round funding.

According to Inc42, this round of funding was led by Info Edge Ventures, with individual investors including Deepinder Goyal, founder and CEO of Zomato, and Kunal Shah, founder of CRED. Geniemode was established in March 2021 and is committed to building a B2B global cross-border e-commerce procurement supply chain, home decoration, fashion accessories, and other fields.

Europe and North America

1. Qualcomm said it would provide chips for Renault's new electric vehicles.

According to Sina Finance, Qualcomm said on Monday that it would give a key computing chip for the digital dashboard of Renault's new electric car. Qualcomm said that Renault's Mégane E-TECH Electric would use its chips to power the car infotainment system, which is expected to be unveiled at the "IAA Mobility 2021" auto show in Munich this month. Mégane E-TECH Electric will start sales next year.

2. SoftBank and Deutsche Telekom reached an equity swap agreement, which will increase the latter's shareholding in T-Mobile US to 48.4%.

According to the Wall Street Journal, SoftBank Group stated that it had reached a strategic partnership and equity swap agreement with Deutsche Telekom. This move will diversify SoftBank Group's business in Europe. SoftBank said that it would exchange approximately 45 million shares of T-Mobile US for 225 million new shares of Deutsche Telekom. In addition, Deutsche Telekom intends to purchase another 20 million shares of T-Mobile US from SoftBank. Deutsche Telekom's shareholding in T-Mobile US will increase by 5.3% to 48.4%.

Australia and New Zealand

1. Australian cultured meat start-up All G Foods raised a seed round funding of 16 million US dollars.

According to Startup Daily, this round of funding was led by Clean Energy Finance Corporation from Australia, and several individual investors participated. It is reported that this month All G Foods will launch its first product in Australia: the plant-based burger Love BUDS™ Burgers.

2. Australian financial technology company Azupay raised US$10 million in funding.

According to Startup Daily, the investor in this round of funding is Ellerston JAADE Australian Private Assets Growth Fund, a fund under Ellerston Capital.

Azupay was established in 2019 to provide comprehensive payment solutions for e-commerce customers in Australia. It is reported that the new funds will be used to acquire customers and accelerate product innovation.

3. New Zealand construction technology company Tether raised a seed round funding of USD 1.75 million.

According to Scoop, this round of financing was led by the Impact Enterprise Fund with NZ Growth Capital Partners and GreenSide Energy Solutions participation.

Founded in 2018, Tether aims to use technology to build more environmentally friendly and sustainable buildings to reduce pollution and protect the health of residents.

It is reported that the new funds will be used to expand the business, increase investment in technology, acquire more customers, and recruit talents.

Africa

African financial technology company Wave raised a US$200 million Series A funding, with a company valuation of US$1.7 billion.

According to TechCrunch, this funding round was led by Sequoia Heritage, Founders Fund, Stripe, and Ribbit Capital, with Partech Africa and Sam Altman, the former president of Y Combinator.

Wave was a project product of the remittance service provider Sendwave, which was spun off into an independent entity after Sendwave was acquired by the financial technology company WorldRemit (now Zepz). Wave was formally established two years ago and is headquartered in the United States and Senegal, Africa.

It is reported that the new funds will be used to expand business in Senegal further and Côte d'Ivoire, grow the scale of the team, and explore emerging markets such as Uganda.

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