By Juliet Shwe Gaung
Kargo has secured a $130,000 loan from Yoma Bank while Australia’s AsiaCarGroup has activated a Myanmar platform for trading of cars.
The follow-on financing by Trirec forms the first tranche of SolarHome’s Series A fundraise that it intends to close within the next quarter.
The investment, which closed on March 14, is the fifth private equity deal in Myanmar for Daiwa PI Partners.
Last year, Myanmar passed a new Companies Law that says foreign investors can own as much as 35 percent of local firms.
This investment marks the fourth deal for the country-focused investment firm EME Myanmar.
METRO Wholesale Myanmar was set up as a joint venture between SGX-listed Yoma Strategic Holdings Ltd (15%) and METRO AG (85%) in February 2017.
KOSPA is a joint venture between Myanmar’s Yoma Strategic Holdings Ltd and Japan’s Kokubu Group.
The startup offers an exclusive rewards book for companies that can stretch their employees’ paychecks by hundreds of dollars a month.
RecyGlo has received $150,000 investment from Norway’s Katapult Ocean accelerator. Phandeeyar Accelerator will invest up to $125,000 in five tech startups.
Vikram Sinha has been redesignated as advisor to the CEO of Indosat Ooredoo in Indonesia.