Chinese ride-hailing giant Didi Chuxing’s community business is considering raising $4 billion to boost its growth amid increasing demand for group-buying delivery services, according to people familiar with the matter. Didi, backed by SoftBank Group Corp., is weighing chipping in about $3 billion to Chengxin Youxuan, the people said, asking not to be identified because… Continue reading Didi’s group-buying unit mulls raising $4b to boost growth plans
Author: Deal Street Asia Online News
Japan’s Nidec to buy Mitsubishi machine tool unit for EV motor push
Japan’s Nidec Corp said it will acquire a unit of Mitsubishi Heavy Industries that makes machine and cutting tools as it bolsters a push in motors for electric vehicles (EV). Nidec will buy the business from Japan’s biggest machinery maker for around 30 billion yen ($284 million) in a deal that will help it improve… Continue reading Japan’s Nidec to buy Mitsubishi machine tool unit for EV motor push
India: Robotic process automation startup UiPath raises $750m at $35b valuation
New York-based robotic process automation (RPA) software company UiPath, which has active operations in India, has closed a $750-million Series F funding at a post-money valuation of $35 billion, it said in a statement. The round was co-led by existing investors Alkeon Capital and Coatue. Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global, and funds advised… Continue reading India: Robotic process automation startup UiPath raises $750m at $35b valuation
Chinese EV startup Aiways said to seek funding ahead of IPO: Report
Aichi Automobile, a Chinese electric vehicle (EV) startup better known as Aiways, is in the market raising a new funding round that could give it a valuation of over $2 billion before its potential initial public offering (IPO) in the US. Chinese ride-hailing giant Didi Chuxing is one of the investors mulling participating in the… Continue reading Chinese EV startup Aiways said to seek funding ahead of IPO: Report
S Korea’s Naver to acquire Canadian entertainment company Wattpad for $600m
Canada-based global multi-platform entertainment company Wattpad has agreed to be acquired by South Korean internet company Naver Corp in a $600 million cash-and-stock deal, it announced on Wednesday. With the acquisition, Wattpad and its global community of over 90 million users will align with Naver’s Webtoon, a leading digital comics publisher with an average of over… Continue reading S Korea’s Naver to acquire Canadian entertainment company Wattpad for $600m
China’s Geely ties up with Tencent on smart car tech
China’s Zhejiang Geely Holding Group, which owns Volvo Cars and holds 9.7% of Daimler, said on Tuesday it has signed an agreement with Tencent Holdings Ltd to develop smart vehicle cockpit and autonomous driving. In the latest such partnership in the fast-evolving sector, the companies will jointly develop smart car cockpits to have more mobile and mobility service applications, and explore testing of autonomous driving, Geely said in… Continue reading China’s Geely ties up with Tencent on smart car tech
France’s Total to acquire 20% stake in India’s Adani Green Energy
The Adani Group said on Monday that France-based Total will acquire 20% minority interest in Adani Green Energy Ltd (AGEL). The investment in AGEL is another step in the strategic alliance between Adani Group and Total across various businesses and companies of the Adani Group, covering investments in liquefied natural gas (LNG) terminals, gas utility… Continue reading France’s Total to acquire 20% stake in India’s Adani Green Energy
China Digest: Cobots developer JAKA gets $46m; AI startup WAYZ bags $40m
Chinese collaborative robots developer JAKA Robotics has raised over 300 million yuan ($46.4 million) in a Series C round of financing while AI startup WAYZ has completed a Series A+ round at $40 million. Chinese cobots developer JAKA raises $46.4m in Series C round JAKA Robotics, a Chinese startup that offers collaborative robots to clients… Continue reading China Digest: Cobots developer JAKA gets $46m; AI startup WAYZ bags $40m
Chinese self-driving startup WeRide closes Series B round at $310m
Chinese autonomous vehicle startup WeRide announced on Thursday the completion of its Series B2 and B3 rounds of financing, less than one month after the firm raised $200 million in a Series B1 round in late December. Guangzhou, China-based WeRide garnered a combined $310 million across the three tranches. Upon the completion of the Series… Continue reading Chinese self-driving startup WeRide closes Series B round at $310m
South Korea’s Hanwha leads $300m round in Grab’s financial services arm
Southeast Asian ride-hailing and food delivery giant Grab said on Thursday it has raised more than $300 million from investors led by South Korea’s Hanwha Asset Management Co. Ltd for its fast-growing financial services business. It is the first external funding for Grab’s fintech business, which has chalked out ambitious plans in insurance, lending, wealth… Continue reading South Korea’s Hanwha leads $300m round in Grab’s financial services arm