AlphaVector, an Indian startup has announced the launch of its first e-bicycle in India – Meraki by Ninety One. Launched at a price of 29,999, the e-bicycle requires no license and is aimed at the growing e-bike market in India. AlphaVector has set foot into the global e-bicycle market which is touted to cross $38.6 billion in 2025. According… Continue reading Indian e-bicycle firm AlphaVector launches its first e-bike Meraki
Author: Deal Street Asia Online News
Indonesian e-trucking platform Logisly raises $6m led by Monk’s Hill Ventures
Indonesian e-forwarding startup Logisly has announced the close of its $6 million Series A funding round led by Silicon Valley-based VC firm Monk’s Hill Ventures, confirming an earlier report by DealStreetAsia. The company did not disclose the other investors in the round. In an official statement, the company said it will use the fresh capital… Continue reading Indonesian e-trucking platform Logisly raises $6m led by Monk’s Hill Ventures
Toyota to invest $500m in KDDI to strengthen ties for ‘connected car’
Toyota Motor Corp and KDDI Corp said on Friday that Japan’s biggest automaker would invest 52.2 billion yen ($500 million) in the mobile carrier to deepen their partnership in the age of the “connected car”. After decades of focusing on making and selling cars, Toyota is increasingly turning to partners to help develop expensive new vehicle technologies as… Continue reading Toyota to invest $500m in KDDI to strengthen ties for ‘connected car’
China Evergrande to sell 40.96% stake in Xinjiang Guanghui to Shenergy
China Evergrande Group agreed to sell a 40.96% stake in Xinjiang Guanghui Industry Investment Group to Shenergy Co for 14.9 billion yuan, Guanghui Energy Co said in a disclosure on Sunday. Guanghui Energy is a subsidiary of Xinjiang Guanghui. Shenergy, a Shanghai-based power utility, will become the second-biggest shareholder of Xinjiang Guanghui, the disclosure said. Reuters Go to Source
Malaysia’s iCar gets over $150m takeover offer from China’s Autohome
Malaysia-headquartered online car sales platform iCar Asia has received a takeover proposal from NYSE-listed Chinese peer Autohome Inc at the price of A$0.5 ($0.35) per share. The development confirms DealStreetAsia’s report in September that the Catcha Group affiliate was up for sale. If successful in its bid, Autohome will acquire around 450 million iCar Asia… Continue reading Malaysia’s iCar gets over $150m takeover offer from China’s Autohome
Meal kit delivery firm Blue Apron ends strategic review process after business uptick
Meal-kit delivery company Blue Apron Holdings Inc said on Thursday its board has concluded a review of its strategic options, after raising cash and seeing an improvement in its business during the COVID-19 pandemic. New York-based Blue Apron, which went public in 2017, said in February it is considering options including going private and a sale of the company or… Continue reading Meal kit delivery firm Blue Apron ends strategic review process after business uptick
Geely-backed intelligent auto developer ECARX nets $194m Series A led by Baidu
Chinese Internet search giant Baidu has led a 1.3-billion-yuan ($194 million) Series A funding round in ECARX, an intelligent auto solutions provider backed by automaker Geely. The new investment, which valued ECARX at over 10 billion yuan ($1.5 billion), also saw participation from investment firm SIG China, investment bank Lighthouse Capital, the exclusive financial adviser… Continue reading Geely-backed intelligent auto developer ECARX nets $194m Series A led by Baidu
Chinese ride-hailing firm Shouqi Yueche raises Series C funding
Ride-hailing platform Shouqi Yueche has raised ‘hundreds of millions of US dollars’ in its Series C funding round from a clutch of investors, per local media reports. The names of the investors have not been disclosed. The company last raised as much as 700 million yuan ($105 million) in its Series B+ funding round in November… Continue reading Chinese ride-hailing firm Shouqi Yueche raises Series C funding
SG Digest: Ion Mobility grabs $3.3m seed; Kamet Capital backs Tramés
Singapore-based electric motorbike startup Ion Mobility has secured $3.3 million in a seed round while supply chain technology startup Tramés has raised funding led by multi-family office Kamet Capital Partners. Ion Mobility secures $3.3m seed round Singapore-based smart electric motorbike startup Ion Mobility has secured $3.3 million in a seed round to launch products across… Continue reading SG Digest: Ion Mobility grabs $3.3m seed; Kamet Capital backs Tramés
Uber to invest over $150m in JV with SK Telecom’s mobility business
Uber Technologies said on Friday that it will invest over $150 million into a joint venture and partnership with South Korea’s SK Telecom Co Ltd, which is proposing to split off its mobility business. SK Telecom planned to split off its mobility business unit and launch T Map Mobility, while Uber would invest over $100… Continue reading Uber to invest over $150m in JV with SK Telecom’s mobility business