NOVEMBERASIA BUSINESS OUTLOOK9Singapore-based Stryv has raised US$11.5 million in funding as it looks to expand its business across Asia. The funding marks a new step in the company's growth plans as it seeks to strengthen its presence in regional markets and reach more customers. The expansion comes as startups across Asia look for funding to enter new markets, build their businesses and compete with established players.For Stryv, the latest investment could provide additional resources to support its regional ambitions, although the company's specific expansion plans and use of the funds require further confirmation. The US$11.5 million funding round gives Stryv additional capital to pursue its business expansion plans across Asia. Expanding into new markets can help a company reach more customers, build partnerships and reduce its dependence on a single market. Sumitomo Corporation is looking to expand its battery energy storage business in Japan by using experience gained from projects in the United Kingdom. The Japanese trading company sees growing opportunities in energy storage as the country increases its use of renewable energy and looks for ways to maintain a stable electricity supply.Battery storage systems help address one of the main challenges of renewable energy: solar and wind power do not generate electricity at a constant rate. Batteries can store surplus power and release it when demand increases or renewable energy production falls. Sumitomo aims to use this technology to support Japan's energy transition while building a stronger presence in the growing storage market. South Korean logistics company Hyundai Glovis has partnered with Shopee Korea to help local cosmetics brands sell their products in Southeast Asia. The partnership aims to make exporting easier by bringing transportation, customs clearance and delivery services under one system. The service began operations in October 2026. The move comes as K-beauty products continue to attract customers across international markets. Shopee gives Korean brands access to consumers across Southeast Asia and other regions, while Hyundai Glovis provides the logistics support needed to deliver products overseas. Together, the companies aim to help businesses reach more customers and manage international orders more easily. Chinese food delivery company Meituan plans to raise around US$1 billion through an offshore yuan bond sale to repay existing loans. The move comes as Chinese companies look for different ways to raise money and manage borrowing costs amid changing market conditions. Meituan plans to use the funds mainly to refinance existing offshore yuan loans while keeping some of its approved borrowing capacity available for possible US dollar bond sales.This approach would give the company more flexibility in managing its debt and future funding needs. The bonds are expected to be priced on October 27, according to reports. Meituan's planned bond sale will mainly be used to refinance existing offshore loans denominated in yuan. The offering will mark the company's second issuance of offshore yuan bonds, also known as dim sum bonds. The company does not plan to use its entire approved borrowing quota for the yuan offering. Instead, it intends to keep part of the allocation available for US dollar debt refinancing, depending on market conditions. The approval is valid until September 2027. SINGAPORE'S STRYV RAISES $11.5 MILLION TO EXPAND ACROSS ASIASHOPEE & HYUNDAI GLOVIS PARTNER TO BOOST K-BEAUTY EXPORTS IN ASIASUMITOMO USES UK EXPERIENCE TO EXPAND JAPAN'S BATTERY STORAGE MARKETMEITUAN PLANS $1 BILLION BOND SALE TO REFINANCE OFFSHORE LOANS
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