The startup plans to use the funding to expand to other markets, including Indonesia.
The deal will be a combination of cash and equity.
Jollychic reached a valuation of $1 billion last year after raising capital in its Series C round led by Sequoia Capital.
The lay-offs were carried out due to redundancies in its current customer support workforce.
Car ownership in Malaysia stands at a whopping 93 per cent, the third-highest in the world.
China's JD.com has a significant minority stake in Tiki.
The deal includes two Vietnam-based online platforms centered around parenting (Marrybaby.vn) and weddings (Marry.vn).
i2i Ventures is Pakistan's first women-led institutional fund investing in Pakistani entrepreneurs.
Policy & Regulations
A new bill will give the Land Transport Authority the power to set safety requirements on licensed operators and mandate closer supervision such as by
DocDoc's recent round of funding brings the total funding raised to date to $24.6 million.
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