Author: Deal Street Asia Online News

Self-driving tech supplier Quanergy nears China-backed SPAC deal to go public …

Quanergy Systems Inc, a supplier of self-driving car technology, is nearing a deal to go public through a merger with Chinese blank-check acquisition firm CITIC Capital Acquisition Corp, people familiar with the matter said on Monday. Quanergy would be the latest company developing LiDAR technology – which uses laser beams to help generate a three-dimensional… Continue reading Self-driving tech supplier Quanergy nears China-backed SPAC deal to go public …

China Evergrande plans to repay $1.5b bond this week

China‘s most indebted property developer Evergrande Group plans to repay its $1.47 billion offshore bond maturing next Monday this week, ahead of schedule, a source close to Evergrande said. In recent weeks some of the bonds of Evergrande and its subsidiaries have sold off on rising investor concerns over the developer’s ability to make timely payments. This pushed the yields on two separate 5.8% 2025 onshore bonds to above 29.5% from… Continue reading China Evergrande plans to repay $1.5b bond this week

Freight tech startup Forto raises $240m led by Softbank

Forto has raised $240 million from investors led by Softbank, the freight technology startup said on Monday, and will invest in expanding its platform for organising trade shipments between China and Europe. The five-year-old Berlin firm offers a single platform for managing the journey of a shipping container from origin to destination – a task long handled with pen, paper and post-it notes, said Forto CEO… Continue reading Freight tech startup Forto raises $240m led by Softbank

Indonesia’s VC-backed startups dole out biggest bonuses among ASEAN peers …

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Indonesia’s VC-backed startups dole out biggest bonuses among ASEAN peers …

Co-founder of SoftBank-backed Indian online grocer Grofers exits firm

While Kumar will not be involved in the day-to-day functions of the company, he will continue his role as a board member of the e-grocery firm and be a shareholder in the company. “When I look back at what we have achieved in this short time, I can only feel proud. You should too. We… Continue reading Co-founder of SoftBank-backed Indian online grocer Grofers exits firm

US-based Neo4j raises $325m in Series F funding round led by Eurazeo, GV …

Neo4j, one of the leaders in graph technology, has raised $325 million in a Series F funding round led by Eurazeo with participation from GV (formerly Google Ventures), according to an announcement. This new round brings the company’s valuation to over $2 billion. Existing investors One Peak (an investor since 2018), Creandum (an investor since 2014),… Continue reading US-based Neo4j raises $325m in Series F funding round led by Eurazeo, GV …

India’s central bank approves takeover of fraud-hit PMC Bank

The Reserve Bank of India has given its in-principle approval to Centrum Financial Services Limited to take over the troubled Punjab and Maharashtra Co-operative Bank, it said in a statement on Friday. Financial services firm Centrum will be allowed to set up a small finance bank (SFBs) with the PMC takeover. SFBs are niche lenders… Continue reading India’s central bank approves takeover of fraud-hit PMC Bank

SG Digest: IMC Ventures partners PIER71; Argus Global merges with 3 other providers

Singapore-based IMC Ventures is partnering with PIER71 to nurture the maritime and supply chain ecosystem in the city-state while UK-based Waystone is merging Singapore-based Argus Global with three other service providers. IMC Ventures and PIER71 tie-up to boost Singapore’s maritime ecosystem Singapore-based venture capital firm IMC Ventures, which focuses on investments in the maritime and… Continue reading SG Digest: IMC Ventures partners PIER71; Argus Global merges with 3 other providers

GIC-backed consultancy firm ThoughtWorks’ parent confidentially files for US IPO …

Software consultancy company ThoughtWorks Inc said on Thursday that its parent Turing Holding Corp. had confidentially submitted paperwork for an initial public offering in the United States. ThoughtWorks, which helps firms digitize their operations, was valued at $4.6 billion after a $720 million funding round in January from investors including Singapore’s sovereign wealth fund GIC and Germany-based… Continue reading GIC-backed consultancy firm ThoughtWorks’ parent confidentially files for US IPO …