Daily Briefing: Temasek leads $88m funding in Canada's General Fusion; GIC buys stake in AmEx's corporate travel firm

And Zilingo buys Sri Lanka-based software firm nCinga Innovations.

From DealStreetAsia:

Temasek led a Series E financing round of Vancouver, Canada-based fusion energy startup General Fusion that has raised $88.11m (US$65m), according to an announcement. The startup also secured an additional CAD$50 million from Canada’s Strategic Innovation Fund, it said.

The new financing will enable it to formally launch a programme to design, construct, and subsequently operate a fusion demonstration plant. In addition to Temasek, the Cleantech Practice of Business Development Bank of Canada (BDC), the DLF Group, Gimv, I2BF Global Ventures, Disruptive Technology Advisers, Hatch, and several individual impact investors have become new investors in General Fusion.

They were joined in this financing by many existing international investors in the company, including Chrysalix Energy Venture Capital, Bezos Expeditions, Khazanah Nasional Berhad, Braemar Energy Ventures, Entrepreneurs Fund, and SET Ventures.

Read more here.

From Bloomberg:

Sovereign wealth fund GIC are buying a stake in American Express Global Business Travel, the corporate travel company said. Carlyle Group and several big name investors are also participating.

American Express Co. will retain 50% ownership, according to a statement Tuesday. The deal values the unit at $5 billion, including debt, according to a person familiar with the matter.

The deal was led by Certares, and other investors include the Qatar Investment Authority funds managed by BlackRock Inc, the University of California’s Office of the Chief Investment Officer of the Regents and Kaiser Permanente, according to the statement from the Jersey City, New Jersey-based unit.

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From e27:

Fashion technology platform Zilingo has acquired Sri Lanka-based software company nCinga Innovations, the company announced. The acquisition is reportedly considered to be one of the largest tech exits in Sri Lanka in recent times.

With the deal, Zilingo will drive the adoption of the Manufacturing Execution System (MES) software across its global network of 6,000 factories and 75,000 businesses. The MES software is to automate operations on the factory floor by enabling access to real-time data on the go.

The acquisition will bring added features to the company’s customers in the US, Europe, and Australia.

Read more here.