The service, which will be called Ola Cars, will start as a pilot project in Bengaluru in the second half of August, reported Entrackr. Go to Source
Author: Tech In Asia Online News
Report: China mulls delisting, other penalties on Didi after IPO in the US
Punishments for Didi may be harsher than previous sanctions against Alibaba, which included a US$2.8 billion fine, Bloomberg reported. Go to Source
Alpha JWC Ventures leads autonomous vehicle startup’s $8m round
Venti Technologies powers various logistics vehicles such as tug trailers and prime movers that can move shipping containers. Go to Source
Ola Electric raises $100m in largest debt-financing deal in Indian EV space
The 10-year debt of US$100 million from Bank of Baroda will be used to fund and complete Ola Futurefactory’s first phase. Go to Source
Tiger Global leads $100m round of Indian used-car marketplace
According to Entrackr, Spinny has raised more than US$220 million from investors such as General Catalyst, Elevation Capital, and others to date. Go to Source
Didi suffers $14b blow after China’s app store ban
Shares of Didi dipped by 20% in the US stock market after Chinese authorities ordered app stores to remove its app. Go to Source
Report: Indian used-car marketplace to raise up to $250m in new funding
The Bloomberg report cited a source who said that Cars24’s valuation could reach US$1.6 billion to US$2 billion with this round. Go to Source
Sequoia-backed Indian car service startup nets $42m in Tiger Global-led round
GoMechanic aims to use the fresh funds to expand its technology team and launch operations in international markets. Go to Source
Sources: Tiger Global in talks to lead $100m round in Indian used-car marketplace
The potential investment from Tiger Global may bump up the valuation of Spinny to about US$800 million. Go to Source
Grab’s Anthony Tan assures that SPAC merger will be completed by year-end
The company wants to be proactive and transparent in reporting the deal’s financials, he said. Go to Source