India Digest: Symbo acquires ReLeague; Appier buys Qgraph; GoWork eyes $200m

Visual from GoWork website

Singapore-based Symbo on Tuesday announced that it has acquired ReLeague, a B2B reinsurance software platform, while Taiwan’s Appier has acquired content marketing company Qgraph for an undisclosed amount. Meanwhile, GoWork is in talks with private equity funds for raising a fresh funding round of $200 million.

Symbo acquires insurance firm ReLeague

Symbo Platform Holdings, a Singapore-based insurance firm, on Tuesday announced that it has acquired ReLeague, a B2B reinsurance software platform, for an undisclosed sum.

The acquisition of ReLeague brings with it over 90 institutional clients from 25 countries across ASEAN, MENA, South Asia, East Africa, and South Africa and catapults Symbo to the forefront of automation efforts in the reinsurance space, it said in a statement. Symbo is backed by investors including, former Sequoia Partner Yinglan Tan’s Insignia Ventures and Dymon Asia Ventures.

Symbo India Insurance Broking claims to have almost 700,000 lives covered across various general, life, personal and commercial insurance product lines. Following the acquisition, Anurag Jaroli, former co-founder and chief operating officer of ReLeague will join Symbo as head of reinsurance.

Taiwan’s AI firm Appier buys Qgraph

Taiwan-based artificial intelligence (AI) startup Appier has acquired Indian content marketing company Qgraph for an undisclosed amount. Appier, which is backed by Japan’s SoftBank, had acquired the Bengaluru-based startup earlier this year, it said in a statement.

The acquisition assisted Appier to build its new automated content marketing platform Aiqua which was unveiled on Tuesday.  The platform helps marketers harness the power of AI to understand and segment their audience, and to engage users with AI-based messages across channels.

GoWork in talks with PE funds to raise $200m

Co-working space operator GoWork is in talks with private equity funds for raising a fresh funding round of $200 million, reported The Economic Times. The funds will be used by the Gurugram-based startup to expand presence in major cities across the country by opening 50 centres.

Besides, GoWork plans to enter newer cities such as Mumbai, Bengaluru and Hyderabad, apart from tapping into tier-II and -III cities, through joint ventures as well as company-owned model. GoWork currently operates two co-working spaces in Gurugram spread over 8 lakh square feet, with a capacity of 12,000 seats.

The company is looking at scaling up the business further by adding a minimum of one lakh square feet of co-working space.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.