1. News
February 9, 2018

Deals this week: DeepBlue Technology, Tovala, Creador

DeepBlue Technology (Shanghai) has raised $16m through a Series A funding round.

DeepBlue Technology (Shanghai) has raised $16m through a Series A funding round.

Led by Meridian Capital China, the round saw the participation of Chengdu Desung Group.

All the companies involved in the funding round are based in China.

Tovala has received venture financing from Tyson Ventures, a subsidiary of Tyson Foods.

The funds will be used to support geographical expansion and investment in products, operations, technology and marketing.

Based in the US, Tovala is a cooking appliances supplier.

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Creador, an affiliate of Creador Capital, has invested VND994bn ($43.8m) in Mobile World Investment Corporation (MWG), a Vietnamese mobile phone and consumer electronics retailer.

Mekong Enterprise Fund II (MEF II) completed the divestment in MWG for a return multiple of 57x and internal rate of return (IRR) of 61.1%, as part of the transaction.

MWG has recorded a turnover of VND45.6tn ($1.9bn) in December 2016.

“The acquisition will exclude Kroger’s supermarket fuel units and its Turkey Hill Dairy.”

Sectorqube has closed a seed round of funding led by Unicorn India Ventures.

Sectorqube is a US manufacturer of kitchen appliances, while Unicorn is an Indian-based venture capital firm.

Sectorqube intends to use the funding to grow its business and to develop new products.

People & Telecommunication has raised KRW5bn ($4.58m) through a private placement of convertible bonds.

Founded in 1977, People & Telecommunication is a South Korea-based manufacturer of mobile phone accessories.

China-based online-to-offline (O2O) home decoration services provider SSLJ has entered a strategic partnership with e-commerce firm JD.

The partnership allows both the firms to enhance operational efficiency, reduce operating costs and execute strategies for future market expansion across the nation.

SSLJ will market its products through JD’s e-commerce medium and invest in its advertising platform, under the agreement.

SSLJ will also distribute its upcoming products to JD Mall and utilise the JD Crowdfunding platform.

JD will deliver resources in order to match target clients for SSLJ.

US-based retailer Kroger has entered an agreement to dispose its convenience store business to EG Group for $2.15bn.

Based in the UK, EG Group is a petrol and convenience store retailer.

The acquisition will exclude Kroger’s supermarket fuel units and its Turkey Hill Dairy.

EG Group will continue to run the stores under its brand and plans to set up its North American head office in Cincinnati, Ohio.