Battery Smart, a battery swapping network for electric two- and three-wheelers, on Wednesday, announced a partnership with GoMechanic, a network of tech enabled car service and spares centres. Through the partnership, Battery Smart will set up battery swapping stations in 100+ GoMechanic garages across India, with the first one live in west Delhi. Go to… Continue reading India: Battery Smart partners Tiger Global-backed car service startup GoMechanic
Author: Deal Street Asia Online News
SG Digest: Ex Grab, Uber execs launch car subscription platform, Alethea AI raises $16m …
Former executives of Grab, Uber, and Hertz have launched Carzuno, a car subscription startup in Singapore, while AI software development firm Alethea AI has raised $16 million in a private token sale. Former Grab, Uber execs launch car subscription platform Carzuno, a car subscription startup, has launched in Singapore. The startup was founded by two… Continue reading SG Digest: Ex Grab, Uber execs launch car subscription platform, Alethea AI raises $16m …
China Digest: Shunwei’s sub-fund to raise $154m; Yeasen Biotechnology nets $46m
Shunwei Capital’s sub-fund Shenzhen Shunying Private Equity Investment is raising 1 billion yuan ($154 million) for a new fund. In a separate development, Yeasen Biotechnology (Shanghai) has landed 300 million yuan ($46 million) in a Series B+ round. Shunwei’s sub-fund to raise $154m Shenzhen Shunying Private Equity Investment, a sub-fund of electronics giant Xiaomi’s Shunwei… Continue reading China Digest: Shunwei’s sub-fund to raise $154m; Yeasen Biotechnology nets $46m
Toshiba said to be in talks with atleast four PE firms for strategic ideas …
Toshiba Corp is in talks with at least four global private equity firms including KKR & Co Inc and Blackstone Inc to seek their ideas for its new strategy, three sources with knowledge of the matter said. Bain Capital and Canadian investment firm Brookfield have also been tapped by the scandal-hit Japanese conglomerate’s strategic review committee… Continue reading Toshiba said to be in talks with atleast four PE firms for strategic ideas …
India: Sistema Asia Fund hires tech entrepreneur Sampathkumar P as senior partner
Sistema Asia Fund (SAF), the Bengaluru-based venture capital firm investing in mid-stage Indian startups, on Wednesday announced the induction of ex-VC and tech-entrepreneur Sampathkumar P. as part of the firm’s investment leadership in India. Sampathkumar is joining the team as a senior partner to lead and manage investments for the soon-to-be launched Fund II by… Continue reading India: Sistema Asia Fund hires tech entrepreneur Sampathkumar P as senior partner
Indian government launches accelerator programme to fund 300 early-stage startups
The Ministry of Electronics and Information Technology (MeitY), on Wednesday, announced the Startup Accelerator for Product Innovation, Development & Growth (SAMRIDH) programme, which aims to help growing startups in India. The programme was announced in the annual report of the MeitY earlier this year and was under approval at the time. “The part when an… Continue reading Indian government launches accelerator programme to fund 300 early-stage startups
Affirma Capital to lead $47m investment round in Indian NBFC Belstar Microfinance
Singapore-based private equity firm Affirma Capital has reached an agreement to lead a Rs 350 crore ($47 million) funding in Indian non-bank financial company Belstar Microfinance, according to an announcement. Affirma Capital will invest Rs 300 crore ($40.4 million) out of the total. Belstar’s parent firm Muthoot Finance, as well as existing investor Danish asset… Continue reading Affirma Capital to lead $47m investment round in Indian NBFC Belstar Microfinance
Softbank-backed car sharing startup Getaround in SPAC merger talks
Getaround, a car-sharing startup backed by SoftBank Group Corp, is in talks to go public through a merger with special purpose acquisition company (SPAC) Altitude Acquisition Corp, people familiar with the matter said. The company has confidentially sought investors to participate in the deal through a private placement in public equity, or PIPE, at a… Continue reading Softbank-backed car sharing startup Getaround in SPAC merger talks
Ant Group invests $15m in Chope, buys call options to own 40% stake …
Cherry Huang, general manager of global merchant partnership, South and Southeast Asia at Alipay, and Arrif Ziaudeen, CEO of Chope. Source: Chope. Premium Singapore-based food and beverage startup Chope has secured $15 million from Ant Group as part of its Series E round, according to regulatory filings seen by DealStreetAsia – DATA VANTAGE. Go to Source
Buffett-backed Brazilian lender Nubank to seek IPO valuation of over $55b
Brazil’s Nubank is seeking a valuation in its planned U.S. initial public offering that would push the eight-year-old fintech past the $55.4 billion value of the country’s top traditional lender, two sources familiar with the matter said. In a recent funding round led by Warren Buffett‘s Berkshire Hathaway Inc, Nubank was valued at $30 billion. With… Continue reading Buffett-backed Brazilian lender Nubank to seek IPO valuation of over $55b