Blue Planet Secures $35M for Indian Waste Management Expansion; Tamara Becomes Saudi Arabia's First Unicorn
Blue Planet, a sustainable waste management company, has secured a USD 35 million investment from the IFU. This funding will boost Blue Planet's capabilities in landfill reclamation and e-waste recycling in India.
Tamara, a Saudi Arabia-based fintech platform, has become the country's first homegrown unicorn. The company, which specializes in digital financial services, has achieved this remarkable feat.
Meanwhile, Shopee, a leading e-commerce company in Southeast Asia, has expanded its reach in Brazil. After entering the market in 2020, Shopee now operates nine distribution centers in the country. The company has further strengthened its presence by acquiring the local credit arm of Blu, a Brazilian fintech company. This deal enables Shopee to offer credit directly to customers in Brazil, the largest economy in Latin America.
In other news, Coupang, a South Korean e-commerce giant, has announced plans to acquire Farfetch, an online luxury fashion platform. The deal, worth USD 500 million, will provide Farfetch with access to capital and position Coupang as a leader in the global personal luxury goods market.
Biorithm, a medtech company focusing on pregnancy care solutions, has raised USD 3.5 million in a Series A funding round. The company's success has attracted investors, including Adaptive Capital Partners, although the name of the founder who invested in the project is not publicly stated.
Blue Planet's USD 35 million investment will enhance its waste management capabilities in India. Tamara's unicorn status marks a significant milestone for Saudi Arabia's fintech industry. Shopee's expansion in Brazil and Coupang's acquisition of Farfetch indicate growing competition in the e-commerce and luxury fashion markets. Biorithm's funding success showcases the potential of innovative medtech startups.
