NOVEMBERASIA BUSINESS OUTLOOK9Yubi, a Chennai-based fintech platform specializing in debt marketplace solutions, has raised Rs. 411 crore (US$46.4 million) through a mix of long-term debt and equity funding.The round includes Rs. 336 crore (US$38 million) from EvolutionX Debt Capital, a growth-stage lender backed by Temasek and DBS, and Rs. 75 crore (US$8.5 million) invested directly by founder and CEO Gaurav Kumar, signaling strong confidence in the company's near-term profitability.Yubi plans to deploy the funds to accelerate expansion across Southeast Asia, the US, and the Middle East, while also strengthening its AI capabilities and scaling infrastructure for global rollouts. The company currently works with 17,000 enterprises and nearly 6,200 lenders and investors, having facilitated over Rs. 3.2 lakh crore (US$36.2 billion) in debt -- one of the largest debt marketplace volumes in India.Financially, Yubi reported an FY25 net loss of Rs. 416.1 crore, but its adjusted EBITDA loss improved sharply to Rs. 69 crore from Rs. 155 crore, moving the company closer to operational breakeven. EvolutionX's investment underscores Yubi's improving unit economics and stronger cash generation metrics.As Yubi expands into regulated global markets, the company is expected to increase demand for KYC partners, compliance solutions, credit-data integrations, and cloud/CDN infrastructure providers. Its debt recovery platform, which has processed over 37 million accounts, will also require scaling to support low-latency, cross-border operations.With 80 percent of India's major banks and 150+ NBFCs already onboard, Yubi's latest funding marks a strategic step toward becoming a global debt infrastructure leader. UltraGreen.ai, a medical imaging and surgical technology company specializing in fluorescence-guided surgery and indocyanine green (ICG) dyes, plans to raise US$400 million through an IPO on the Singapore Exchange Mainboard on December 3.Priced at US$1.45 per share, the listing would value the company at approximately US$1.6 billion, with 1.1 billion shares outstanding.The offering includes a US$237.5 million cornerstone tranche and a US$162.5 million base offering, along with a US$30 million over-allotment option. Major cornerstone investors include abrdn Asia, AIA Investment Management, Eastspring Investments, HSBC Global Asset Management, and Lion Global Investors, signaling strong institutional demand. Citigroup and DBS are acting as joint issue managers and bookrunners, with DBS also serving as global coordinator.UltraGreen.ai, which previously achieved a US$1.6 billion valuation after its September 2025 anchor round (up from US$1.3 billion, a 23 percent rise), has not disclosed audited revenues, margins, or profitability in its filings. The global market for fluorescence-guided surgery systems is valued at US$124.27 million in 2025 and projected to reach US$263.95 million by 2030, though UltraGreen.ai's scale is significantly larger relative to the market.IPO proceeds will fund product development, acquisitions, and expansion across Asia-Pacific, Europe, the Middle East, and Africa. Growth will rely heavily on distributor networks, regulatory consultants, IT integrators for operating-room digital systems, and CROs supporting clinical workflows.Key demand drivers include oncology (61 percent of usage), transplant perfusion (20.4 percent CAGR), and real-time intraoperative imaging adoption across China, Japan, and South Korea. YUBI RAISES RS. 411 CR TO BOOST GLOBAL EXPANSION AND AI CAPABILITYULTRAGREEN.AI TARGETS US$400M IN SINGAPORE IPO AT US$1.45NEWSROOM
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