Standard Chartered’s investment banking unit is learnt to have bagged the mandate to work on the deal.
All of Sorabel’s existing investors are learnt to have joined its pre-Series C round, including OpenSpace Ventures.
LPs in the fund include Korea Development Bank, Korea Venture Investment Corporation, NH Investment & Securities and Industrial Bank of Korea.
Landbridge will continue to operate the vessel under a bareboat charter, before repurchasing it at the conclusion of the charter period.
Qualcomm Ventures and Tech Mahindra were the first to participate in the C round when they invested in Altiostar early in 2018.
Investors that joined the round include Japan’s Medipal Holdings Corporation and Ci:z Investment, Mirae Asset Capital and Korea Investment Partners.
The investment, the company said, will help it bring in more local journalists onboard, especially from Indonesia, Vietnam, and Singapore.
The round was joined by new investors Convergence Ventures and FreakOut as well as existing backers 500 Startups, Ideosource and Braavos Ventures.
Other players in the space have been restricted to relying on angel investors and capital grants as VCs still seem hesitant to place a bet on the indu
The capital raised will be used for geographical expansion, as the company plans to foray into two new regional markets this year.
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