“The funds raised would be invested in getting the prototype bikes into production over the next three quarters, scale up operations, expand the team and also further invest in the R&D of in-house developed lithium-ion battery technology,” said one of the three, requesting anonymity. Part of the funds will be raised via equity and a… Continue reading Indian electric motorcycle startup Ultraviolette plans to raise up to $75m
Author: Deal Street Asia Online News
Vietnam’s Vingroup eyes export of VSmart-branded 5G devices next year
Vietnamese conglomerate Vingroup said on Thursday it aimed to sell its VSmart-branded 5G devices to North American markets next year. The Hanoi-based company, the first in Vietnam to produce 5G smartphones, said it will export about 1.5-2 million devices to the US under outsourcing contracts starting this year, before exporting its own brand’s 5G equipments… Continue reading Vietnam’s Vingroup eyes export of VSmart-branded 5G devices next year
Luxury brands Louis Vuitton, Volvo tap Line chat app to connect with Thai consumers
Luxury fashion and auto brands in Thailand have turned to selling their products on Japanese chat app Line amid the coronavirus pandemic, tapping the country’s growing appetite for social commerce, a top executive said on Thursday. Brands like Louis Vuitton, Chanel, and Volvo were among those that opened official accounts on the messaging app, which… Continue reading Luxury brands Louis Vuitton, Volvo tap Line chat app to connect with Thai consumers
India: Subscription management startup Chargebee raises $55m led by Insight
Chennai and San Francisco-headquartered subscription management platform Chargebee has raised $55 million in its Series F funding led by Insight Partners, per an announcement. Existing investors Tiger Global and Steadview Capital also participated in the financing, bringing the company’s total funding to $105 million to date. With this investment, Chargebee will enhance its product and… Continue reading India: Subscription management startup Chargebee raises $55m led by Insight
Pakistan’s Bykea raises $13m Series B led by Prosus Ventures
Bykea, a ride-hailing and parcel delivery startup based in Pakistan, has raised $13 million for its Series B round led by Prosus Ventures, according to a company statement. This is understood to be Prosus Ventures’s first investment in Pakistan. The round was also joined by existing investors Middle East Venture Partners (MEVP) and Sarmayacar, bringing… Continue reading Pakistan’s Bykea raises $13m Series B led by Prosus Ventures
SG’s Neuron Mobility raises $12m Series A+ from existing backers
Singapore-headquartered electric scooter startup Neuron Mobility has raised $12 million in a Series A+ funding round co-led by returning Australian venture capital firm Square Peg, and GSR Ventures, according to an announcement. This new round brings the company’s total Series A funding to $30.5 million. Last December, Neuron Mobility raised $18.5 million in its Series… Continue reading SG’s Neuron Mobility raises $12m Series A+ from existing backers
China’s Evergrande reaches deal with some investors to ease cash crunch
China Evergrande Group reached a deal on Tuesday with investors holding 86.3 billion yuan ($12.66 billion) of its unit to not ask the debt-laden property developer to repurchase their holdings. Concerns have mounted in recent days that the country’s second-biggest property developer was headed for a major cash crush if it could not get government approval for… Continue reading China’s Evergrande reaches deal with some investors to ease cash crunch
Chinese FAW Group’s talks to acquire Italian truck major Iveco now on hold
Chinese state-owned carmaker FAW Group held talks to acquire Italian truck group Iveco earlier this year but these have now been put on hold, two people close to the matter said. FAW made a preliminary offer in July, valuing Iveco at a bit more than 3 billion euros ($3.5 billion), one of the sources said. The source said… Continue reading Chinese FAW Group’s talks to acquire Italian truck major Iveco now on hold
Chinese smart car supplier PATEO in talks to raise $147m ahead of STAR listing
Chinese smart vehicle supplier Shanghai PATEO Electronic Equipment Manufacturing Co is in talks with 22 potential investors to raise 1 billion yuan ($147 million) before its listing on the STAR market, a company spokesman told Reuters. The Shanghai-based company raised 700 million yuan in its latest funding round in April at a 4.6 billion yuan valuation. Its… Continue reading Chinese smart car supplier PATEO in talks to raise $147m ahead of STAR listing
Chinese EV maker Xpeng, its CEO invest in air taxi startup
Chinese electric vehicle (EV) maker Xpeng Inc said on Saturday that along with its CEO, He Xiaopeng, it has invested in air taxi startup Xpeng Heitech, as the global auto industry explores future mobility. Air taxis are vertical take-off and landing (VTOL) aircraft that use electric motors instead of jet engines. Designed to avoid the need for long runways, they have rotating wings and, in some cases, rotors in… Continue reading Chinese EV maker Xpeng, its CEO invest in air taxi startup