SG Enviro, a wastewater engineering firm based in Singapore, has secured $8 million in its latest funding round, while iQIYI, China’s answer to Netflix, is reportedly seeking $300 million in an HK listing.
Wastewater engineering startup SG Enviro raises $8m
Singapore-based wastewater engineering firm SG Enviro has secured $8 million in funding from Emerald Technology Ventures to expand its industrial wastewater treatment operations across Southeast Asia.
The investment will enable SG Enviro to strengthen its presence in Malaysia, Indonesia, and other regional markets where demand for wastewater infrastructure is growing, according to an announcement.
Founded in 2018 by environmental engineer Guah Eng Hock, SG Enviro specializes in advanced oxidation processes for industrial wastewater treatment using an engineering, procurement, and construction approach.
Emerald Technology Ventures, a global climate-tech venture capital firm, will provide SG Enviro access to its portfolio of water technology companies to accelerate sustainable technology adoption across Southeast Asia.
iQIYI eyes $300m HK IPO
iQIYI, a Nasdaq-listed Chinese video streaming platform owned by Baidu, is said to be in early-stage talks to raise approximately $300 million through a secondary listing in Hong Kong, Bloomberg reported.
The report, which quoted people familiar with the matter, said the company has initiated discussions with global investment banks for the planned IPO.
iQIYI, dubbed “China’s Netflix”, joins a wave of US-listed Chinese tech firms seeking to tap capital markets closer to home, according to the report.
Beijing-based iQIYI is among the country’s biggest streaming service platforms alongside Tencent Holdings’ Tencent Video, Alibaba Group’s Youku, and Mango TV. Its content library spans Chinese period dramas to Hollywood blockbusters.
The company raised $2.25 billion in its US IPO in 2018.
