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
Author: Deal Street Asia Online News
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 …
Baring PE Asia sells Korean parcel delivery company Logen for $324m
Alternative investment major Baring Private Equity Asia (BPEA) has sold Korean domestic parcel delivery company Logen to Daemyung Chemical Group, a company specialising in fashion and logistics, for $324 million. Logen will be acquired by Daemyung’s publicly-listed fashion retailing subsidiary Cowell Fashion, according to a statement. The deal came after Logen had achieved its highest… Continue reading Baring PE Asia sells Korean parcel delivery company Logen for $324m
Shares of Xpeng fall in Hong Kong debut even as the EV maker eyes global rollout
Chinese electric vehicle maker Xpeng Inc shares fell by up to 3.5% in its $1.8 billion Hong Kong dual primary listing on Wednesday as the company said it would develop future models based on product platforms designed for international markets. Xpeng shares opened 1.8% higher from the HK$165 per share issue price but the positive… Continue reading Shares of Xpeng fall in Hong Kong debut even as the EV maker eyes global rollout
China tech crackdown wipes out billions from Didi, other US-listed cos
Didi Global Inc shares slumped as much as 25% in U.S. pre-market trade on Tuesday, ahead of its first session since Chinese regulators ordered the company’s app be taken down days after its $4.4 billion listing on the New York Stock Exchange. The ride-hailing giant’s app was ordered to be removed from mobile app stores in China on Sunday by… Continue reading China tech crackdown wipes out billions from Didi, other US-listed cos
Carsome invests in Indonesian car auction firm PT Universal Collection
Southeast Asian used car trading platform Carsome announced that it has acquired a stake in PT Universal Collection, a Jakarta-based offline car and motorcycle auction service company. Financial details of the acquisition were not disclosed. The deal marks Carsome’s first investment in Southeast Asia this year and allows the integrated car e-commerce platform to double… Continue reading Carsome invests in Indonesian car auction firm PT Universal Collection
China’s autonomous driving startup Freetech raises over $100m in Series A round
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 China’s autonomous driving startup Freetech raises over $100m in Series A round