DUBAI: TikTok parent ByteDance Ltd has invested in Dubai-based iMile Delivery LLC as part of the first major fundraising by the courier startup that services Chinese online vendors, according to people familiar with the matter.
The company’s series A financing round, one of the Middle East’s largest by a female founder to date, raised US$40mil (RM169.08mil) and valued iMile at US$350mil (RM1.48bil), according to a statement.
ByteDance committed around US$10mil (RM42.27mil) at a lower valuation, the people said, asking not to be named because the information isn’t public.
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