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Enovate Motors snags $298 million

Enovate Motors, Chinese electric vehicle startup, has closed $298 million investment in Series A funding round from different public companies and government funds.  With the latest investment, Enovate has so far raised over RMB 6.5 billion ($760 million) in funding since it was founded in mid-2018. Enovate began construction on its first 5.1 billion yuan electric car factory in March 2019
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Increff bags $3 million from Binny Bansal

Increff, Bengaluru-based supply chain management startup founded by former Myntra executives, has raised around $3 million in Series A funding round led by Binny Bansal, Flipkart co-founder, and 021 Capital, a venture capital firm. Founded in 2016, the startup secured seed funding of $2 million from marquee venture capital firm Sequoia Capital in 2017.
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Bangladesh Bank at risk of cyber attack

Bangladesh Bank's central server seems to be at high risk of hacker intrusion and stealing money by placing fraudulent orders as hackers have reportedly installed malware there. The intrusion is not uncommon to us as hackers have penetrated the server before and stole $101 million of Bangladesh Bank that was deposited in New York Fed account in 2016. In March, the Bangladesh
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Kuvera gets backed by Eight Roads

Kuvera, a tech-based wealth management startup, receives investment of $4..5 million from strategic fintech investment team of Eight Roads, the proprietary investment arm of Fidelity International. The company that makes venture capital investments across sectors, had set up a global team for strategic investments in the fintech space across India, China, the UK, Singapore, and Hong Kong to add strategic value to Fidelity’s
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Grab opens Accelerator Programme

Grab announced on Wednesday that it has opened a batch of two accelerator programmes for startups, targeting post-seed businesses focusing on agriculture. The accelerator programme, called Grab Ventures Velocity, aims to nurture 3 to 5 post-seed Southeast Asia-based startups that could empower farmers by creating a sustainable fresh food supply chain in the ecosystem. Collected from: Dealstreetasia
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Four startups give birth to Mekari

As many as four Indonesian SaaS platform-based startups Talenta, Sleekr, Jurnal, and Klikpajak consolidated their operations to form one entity called ‘Mekari’. The consolidation of these startups would help the SMEs in adopting integrated technology for their businesses. According to the Association of Indonesia Micro, Small, and Medium Enterprises data, there are at least 60 million small and medium enterprises
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Export earnings reach 1.12 billion from Canada

Bangladesh exported products worth $1.118 billion to Canada and imported $498.16 million from there in fiscal year 2017-18 (FY18). Commerce Minister Tipu Munshi made the disclosure while High Commissioner of Canada to Bangladesh Benoit Prefontaine called on him at the secretariat in the city on Monday. The minister laid emphasis on forming a forum to expand trade and investment and
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Stock Market shows year low rates

Stock market has not seen any development in the last 4 months as investors have lost confidence in the market due to rumors surrounding investors' getting individual TIN number and liquidity crunch in the market. The benchmark index of Dhaka Stock Exchange, DSEX shows a decline of 1.07% last day. In the last four trading days, the index lost around
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Klook raises $225 million in Series D

Klook, Hong Kong based online travel startup, has bagged $225 million in extended Series D funding round led by SoftBank Vision Fund. The total amount raised in Series D now becomes $425 million. Other participants in the round included, Sequoia China, Matrix Partners, TCV and OurCrowd. The earlier $200 million fundraising was supported by Goldman Sachs, Boyu Capital.
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