APAC Digest: NZ-based LearnCoach gets $1.5m; Myanmar’s Greenovator bags grant


New Zealand-based online education platform LearnCoach has secured $1.5 million in seed funding while Myanmar agri-mobile platform Greenovator has snagged a six-digit grant from the GSMA Ecosystem Accelerator Innovation Fund.

LSE-listed Myanmar Strategic to set up Yangon American International School

The establishment of the school will mark the LSE-listed investment firm’s third initiative in the education sector.

Yangon Capital Partners to invest in up to 30 startups over three years

YCP will prioritise investments in technology startups that are solving problems in the areas of education, healthcare, and agriculture.

Myanmar’s central bank relaxes norms on foreign bank lending

Banking executives broadly welcomed Thursday’s announcement, though foreign banks will still be prevented from offering retail banking services.

Yoma to bring pretzel chain Auntie Anne’s to Myanmar; New Day wins Seedstars Yangon 2018

With the first Auntie Anne’s outlet slated to open in Yangon, the brand is eyeing a wider presence in the country over the next five years.

EME Myanmar takes significant minority stakes in CarsDB, Joosk

EME Myanmar, with an initial corpus of nearly $3 million, is looking for investments with a ticket size of $50,000 to $200,000.

Myanmar’s Rent 2 Own bags $6m funding from DEG, agRIF, Daiwa PI

Launched in January 2016, Rent 2 Own charges users a monthly fee, which covers maintenance and insurance, to rent a motorcycle.

Memories Group buys out Samena Capital-backed Myanmar firms for $41m

Private equity firm Samena Capital had invested $19 million in SM Asset Holdings in 2017 through its Samena Special Situations Fund III L.P.

Fintech startup AND Global raises $2.8m in funding

The latest investment brings the total funding raised by AND Global and its subsidiaries to $15.3 million, including equity investment and debt financing. 

South Korea’s Lotte to buy 80% stake in Myanmar’s bakery company

L&M Mayson operates three factories in Myanmar and produces bread, biscuits and cakes. The Yangon-headquartered firm had sales of about 35 billion won ($30.6 million) last year.