Acquisitions and Investments: Jollibee purchases majority shares of Compose Coffee and Heymax.ai raises USD 2.6 million; Google invests in a solar portfolio company, and other notable ventures

Headline: Multinational Investments and Acquisitions Shape the Business Landscape

In a series of significant moves, various companies have secured funding and completed acquisitions, shaping the business landscape across multiple industries.

Longbridge Group Secures Additional Funding

Longbridge Group, a fintech company, has announced that it has secured over USD 100 million in additional funding from various investment institutions, including Singaporean consortia, following the completion of its pre-Series A round. The exact terms of the deal were not disclosed.

Heymax.ai Raises Seed Funding

Heymax.ai, a loyalty platform founded in 2023, has raised USD 2.6 million in a seed funding round. The investors who contributed to this round are not specified in the given search results. The platform allows consumers to earn and redeem "Max Miles" from over 500 businesses, and it has 25 airline and hotel partners for converting "Max Miles" to loyalty points.

Jollibee Acquires Compose Coffee

Jollibee Foods Corporation is acquiring a 70% stake in South Korean coffee chain Compose Coffee for USD 340 million. This acquisition will make Compose Coffee Jollibee's largest brand by store count. The deal is expected to add 2% to Jollibee's revenues and boost its store count by 34%. Compose Coffee, founded in Busan in 2014, has over 66% of its network outside the Philippines.

RBI Acquires Popeyes China

Restaurant Brands International (RBI) acquired the Popeyes China business from Tims China for an enterprise value of USD 15 million on a cash-free, debt-free basis. Tims China issued a USD 15 million convertible note to extinguish deferred consideration due to former shareholders of Popeyes China.

Xurya Secures Additional Funding

Indonesian renewable energy company Xurya, offering rooftop solar rentals, received an additional USD 55 million investment. The investment was led by Norfund's Norwegian Climate Investment Fund, with participation from Swedfund, Clime Capital, British International Investment (BII), and AC Ventures.

Prochip Group Secures Series A++ Funding

Shanghai-registered provider of bulk gasses for electronics, Prochip Group, secured tens of millions of RMB in a Series A++ funding round from SCGC Capital.

Loongrise Avionics Completes Series A+ Funding

Hangzhou-based avionics equipment manufacturer Loongrise Avionics completed a multimillion-RMB Series A+ funding round with Huayu Venture Capital participating.

Google Invests in Solar Developers

Google has partnered with BlackRock's climate infrastructure business to develop a 1-gigawatt pipeline of new solar capacity in Taiwan. Google will also invest in New Green Power (NGP), a solar developer and BlackRock portfolio company operating in Taiwan.

Jirnexu Acquires CompareHero

Malaysian fintech company Jirnexu is set to acquire CompareHero, MoneyHero Group's B2C brand in Malaysia, as part of a strategic partnership between both entities. MoneyHero will retain an equity stake in Jirnexu.

Tims China Secures Financing

Tims China, the exclusive operator of Tim Hortons in China, secured up to USD 65 million in financing from its founding shareholders, Cartesian Capital Group and Restaurant Brands International (RBI). The financing for Tims China includes USD 50 million in convertible notes, with USD 40 million issued at closing and the remaining amount to be funded over the next seven months, subject to conditions.

These investments and acquisitions reflect the ongoing growth and innovation in various sectors, demonstrating the resilience and adaptability of businesses in the current economic climate.

Acquisitions and Investments: Jollibee purchases majority shares of Compose Coffee and Heymax.ai raises USD 2.6 million; Google invests in a solar portfolio company, and other notable ventures