Sectors

Kingsoft’s cloud services subsidiary priced shares at the middle of the range but upsized the offering to raise $510m, with shares soaring 27% on the first day of trading.

Alphabet has contributed to a $400m for Sidewalk Infrastructure Partners, a spinoff from the conglomerate’s smart cities technology subsidiary Sidewalk Labs.

Uber has led a $170m investment in Lime that also included GV and closed alongside Lime’s acquisition of Uber’s micromobility subsidiary Jump.

SK Networks has contributed to a $160m series E round for Market Kurly, an online grocery platform that will use the money to open a larger fulfilment centre in Seoul.

The firm, whose previous backers have included Alibaba, Baidu and Tencent, has received an initial $110m for its fourth venture fund from a host of corporates.

CommerzVentures and Munich Re Ventures both returned for a $97.4m funding round that brought the pet insurance provider’s total funding to more than $132m.

China Life Insurance has led a $78m series C round for Vazyme Biotech following the regulatory approval of its Covid-19 detection kit.

Sunshine Insurance has led a $60m series C-plus round for the bookkeeping software developer that also attracted existing shareholder Xiaomi.

Telkom’s investment division has recruited a former partner at AC Ventures, Donald Wihardja, as CEO with the role having been vacant for the past nine months.

India-based challenger university Atria University has launched a VC fund contest for aspiring students aged from 16 to 18.

Cancer therapy developer Hummingbird Bioscience increased its series B haul to $25m after adding SK Group to a consortium that already included a division of Kooksoondang Brewery.