Chinese EV battery maker and storage solutions provider SVOLT Energy Technology has raked in 10.28 billion yuan ($1.6 billion) in a Series B round just five months after the completion of its big-ticket Series A round. The new round was led by Bank of China Group Investment (BOCGI), a Hong Kong-incorporated direct investment arm of… Continue reading Chinese EV battery-maker SVOLT closes $1.6b Series B round led by BOCGI …
Author: Deal Street Asia Online News
Ride-hailing firm Didi Global considers going private to calm China
China‘s Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday. The company has been mulling delisting plans as crackdown in China widens and it has received support from cybersecurity regulators, according to the report, which cited people familiar with the matter. The… Continue reading Ride-hailing firm Didi Global considers going private to calm China
AI robotics startup Augmentus secures seed funding and other SE Asia deals
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Chinese self-driving solutions provider CalmCar closes $150m Series C round …
CalmCar has secured about $150 million in a Series C round of financing as the Chinese startup, which provides autonomous driving vehicles with AI-based solutions and data services, is looking at an initial public offering (IPO) within 2022. In a statement on Thursday, CalmCar said that the Series C round was led by German auto… Continue reading Chinese self-driving solutions provider CalmCar closes $150m Series C round …
Eyeing IPO, Volvo Cars to take full control of its Chinese business
Volvo Cars has struck a deal to buy out parent company Zhejiang Geely Holding from their joint ventures in China, in a move that could make a potential initial public offering (IPO) for the Swedish automaker more attractive to investors. Hangzhou-based Geely, which also owns a 9.7% stake in Daimler, said earlier this year it was… Continue reading Eyeing IPO, Volvo Cars to take full control of its Chinese business
Ati Motors raises $3.5m led by Blume, Exfinity Venture and 16 India deal updates
ResearchPremium Ati Motors, an all-electric autonomous industrial vehicle maker, has raised $3.5 million in a funding round led by Blume Ventures and Exfinity Venture Partners. MFV Partners and a syndicate on LetsVenture led by Livspace founder Ramakant Sharma also participated in the Pre-Series A round, Ati Motors said. The pre-Series A funding will be deployed… Continue reading Ati Motors raises $3.5m led by Blume, Exfinity Venture and 16 India deal updates
Chinese smart car supplier Banma raises $434m from Alibaba, SAIC, others
China-based internet car solution provider Banma Technologies has secured as much as 3 billion yuan ($434 million) from its majority shareholders such as Alibaba, Alibaba Jack Ma’s Yunfeng Capital, SAIC Motor and CMG-SDIC, according to an announcement. In 2018, Banma had raised its first round to the tune of 1.6 billion yuan ($247 million) led… Continue reading Chinese smart car supplier Banma raises $434m from Alibaba, SAIC, others
EV battery maker SES Holdings looks to go public via $3.6b SPAC deal …
Electric vehicle battery maker SES Holdings said on Tuesday that it would go public through a merger with a blank-cheque company in a deal that values the combined entity at $3.6 billion. The deal with Ivanhoe Capital Acquisition Corp will fetch $476 million in proceeds for SES, including a private investment in public equity (PIPE) of $200 million… Continue reading EV battery maker SES Holdings looks to go public via $3.6b SPAC deal …
Carsome, Catcha Group partner to acquire iCar Asia in $200m deal
Southeast Asian used car trading platform Carsome announced that it will be acquiring a 19.9% stake in ASX-listed iCar Asia Ltd from Catcha Group, according to a company statement. Carsome and Catcha group have also made a joint proposal to acquire the rest of the 80.1% of iCar from its shareholders in a total transaction… Continue reading Carsome, Catcha Group partner to acquire iCar Asia in $200m deal
India’s Ola Electric raises $100m from Bank of Baroda ahead of e-scooter launch …
Indian Electric Vehicle (EV) manufacturer Ola Electric on Monday announced that it has raised $100 million in debt financing from Bank of Baroda. “This 10-year debt of $100 million is towards the funding and financial closure of phase 1 of the Ola Futurefactory, Ola’s global manufacturing hub for its electric two-wheelers,” the company said in… Continue reading India’s Ola Electric raises $100m from Bank of Baroda ahead of e-scooter launch …