Malaysian Neobank Vircle for Kids Attracts Global Investors; Mamaearth Set for IPO
Malaysian neobank Vircle, designed for children, has attracted significant attention from global investors. Over three dozen asset management firms, including prominent names like Abu Dhabi Investment Authority and Fidelity, have participated in its funding round. Meanwhile, Mamaearth, an Indian personal care brand, is set to make waves in the stock market with its upcoming IPO.
Vircle's seed funding round saw participation from notable investors such as Kumpalan Modal Perdana (KMP) and Gobi Partners. The neobank, tailored for children, aims to provide a safe and engaging financial learning experience. In other news, Mamaearth's parent company, Honasa Consumer, raised approximately USD 100 million in an anchor round ahead of its IPO. The company is expected to price its shares within the range of USD 3.7-3.9 for its public offering.
In related news, Saudi Arabia's Neom investment fund has proposed investing USD 50 million in Animoca Brands as part of a strategic partnership. Additionally, Singapore-based renewable energy certifier Redex has secured USD 10 million in a Series A funding round led by Aramco Ventures.
The funding rounds and IPOs highlight the growing interest in tech-driven financial services, sustainable energy, and consumer goods sectors. With prominent investors backing these initiatives, the future looks promising for these innovative companies.
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