MVLLABS Pte Ltd, the company behind the zero-commission, blockchain-based ride-hailing service TADA, has raised $15 million in a Series B round led by the South Korean automotive parts manufacturer CENTRAL, an existing investor. The round also saw participation from Singapore-based TRIVE Ventures. In 2018, MVLLABS launched TADA in Singapore. Subsequently, the company expanded to Vietnam… Continue reading Singapore ride-hailing firm MVLLABS raises $15m Series B, launches first EV for SE Asia …
Author: Deal Street Asia Online News
Chinese self-driving startup Momenta raises $500m from SAIC, Toyota, others
Chinese autonomous driving startup Momenta said on Friday it has received $500 million from SAIC Motor, Toyota Motor and auto parts supplier Bosch, as the global auto industry pursues the autonomous future. Other investors in the funding round include Daimler AG, Temasek, Yunfeng Capital and Tencent, Momenta said in a statement. It did not disclose… Continue reading Chinese self-driving startup Momenta raises $500m from SAIC, Toyota, others
India: FarEye acqui-hires logistics technology startup PY Technology
Logistics SaaS (software as a service) platform FarEye said it has acqui-hired logistics technology startup PY Technologies in a bid to scale customer implementations and to incubate new ideas. PY technologies, earlier known as PRTouch, was founded by Jignesh Vasani in 2012. He will be joining FarEye as vice-president, professional services, the company said in… Continue reading India: FarEye acqui-hires logistics technology startup PY Technology
Asia Digest: PAG buys Unispace; VinFast inks JV with ProLogium; InVent invests in two startups
Asia-focused private investment firm PAG has acquired global workplace design firm Unispace. Meanwhile, Vietnamese conglomerate Vingroup’s automobile unit VinFast and Taiwan’s battery manufacturer ProLogium set up a JV, while Thailand’s InVent announced two new investments. PAG acquires Unispace Asia-focused private investment firm PAG has acquired global workplace design firm Unispace, according to an announcement. Since… Continue reading Asia Digest: PAG buys Unispace; VinFast inks JV with ProLogium; InVent invests in two startups
China’s Autohome to raise up to $1.1b in HK secondary listing
China’s Autohome will raise up to $1.1 billion in its Hong Kong secondary listing, according to a term sheet seen by Reuters. The New York-listed online vehicle firm will sell 30.29 million shares at a maximum price of HK$251.8 ($32.46) each, the term sheet shows. An additional 4.54 million shares can be sold under the so-called green shoe option that would take the total size of the deal to $1.1 billion.… Continue reading China’s Autohome to raise up to $1.1b in HK secondary listing
Vietnam’s VinFast gets permit to test autonomous electric vehicles in the US
Vietnamese conglomerate Vingroup’s automobile unit VinFast has received a permit to test autonomous vehicles by the California Vehicle Administration, per an announcement. Vingroup said that its car manufacturing subsidiary is the 57th licenced company to test its autonomous electric cars in California, following global giants such as Apple, Tesla, BMW, and Volkswagen. In January, the… Continue reading Vietnam’s VinFast gets permit to test autonomous electric vehicles in the US
Singapore logistics startup Haulio bags $2.7m funding and other SE Asia deals
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 Singapore logistics startup Haulio bags $2.7m funding and other SE Asia deals
India: Maruti Suzuki, IIM Bangalore to jointly mentor 26 startups
Maruti Suzuki India Limited and the Indian Institute of Management Bangalore (IIMB) will jointly nurture and mentor 26 startups in the mobility sector through up to a nine-month long incubation program. The two organisation said the selected startups will undergo a three-month pre-incubation journey during which they will be engaged in various peer-to-peer learning activities… Continue reading India: Maruti Suzuki, IIM Bangalore to jointly mentor 26 startups
VinTech-backed Spanish phone maker BQ files for bankruptcy
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Chinese new energy solutions provider SVOLT closes $541m Series A round
SVOLT Energy Technology, a Chinese developer of electric vehicle (EV) batteries and energy storage solutions, has pocketed a total of 3.5 billion yuan ($540.8 million) in a Series A round of financing. The new round was led by Bank of China Group Investment, a Hong Kong-incorporated direct investment arm of Bank of China (BOC), and… Continue reading Chinese new energy solutions provider SVOLT closes $541m Series A round