Summary
Temasek-backed 65 Equity Partners bought 13% stake in Tuya Inc. (NYSE:TUYA), implying a total investment of US$100 million (or S$134M). The fund's mandate is to support high growth, mid-cap companies seeking a listing on the Singapore Exchange (SGX). The listing will benefit Tuya Inc. by providing easy access to capital and liquidity. Tuya Inc. will be able to use stock as a currency to fund its expansion plans in Southeast Asia.
The Company is a leading provider of IoT platform services which enables businesses to make their devices 'smart'. Tuya offers a one-stop platform including PaaS...
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