By Juliet Shwe Gaung
The additional investment of $60 million will be raised through both equity and debt.
Myanmar’s startups attracted interest from both local and overseas investors who placed their bets on tech and non-tech business models.
Some global impact players have responded to the market potential and need to step up their presence in the country.
IFC is advising the implementation of Yangon’s first elevated expressway under a public-private partnerships scheme.
Yoma Strategic is one of three publicly listed companies that have grown out of a business founded by the elder Pun in 1983, one of the largest conglomerates in Myanmar.
BOD Tech Ventures is not new to this vertical having invested in Star Ticket, an online bus ticket booking platform, in 2016.
Blibros Capital Partners, an existing investor, will also inject additional capital in the round, alongside VIMIC.
To cover the total project cost, the company will need to raise an investment of up to $65 million.
Singapore registered Karen Enterprises and Integrative Design & Project Management have raised $350,000 for the survey and master planning work of Mu Aye Pu city project
Its top customer will be the new telecom operator, Myanmar National Tele & Communications Ltd (MNTC), backed by Vietnam’s Viettel