Author: Deal Street Asia Online News

India: Tata Sons may raise $1b to finance a fresh equity infusion into group firms

The board of the Tata group holding company discussed possible avenues for the fund-raise at its meeting on Friday, the people cited above said on condition of anonymity. “The board discussed various fund-raise options available, and is likely to soon take a final decision in this regard,“ said the first of the two people, adding,… Continue reading India: Tata Sons may raise $1b to finance a fresh equity infusion into group firms

China Digest: Fosun-backed Stroke Care raises funding; UMU nets $14m

Stroke Care has garnered ‘tens of millions of USD dollars’ in a Series C round of financing from Sherpa Healthcare Partners and Lyfe Capital, while UMU Technology has bagged 100 million yuan ($14 million) in a Series B round from Gaocheng Capital. Fosun-backed Stroke Care closes Series C round funding  Shanghai-headquartered biotech firm Stroke Care… Continue reading China Digest: Fosun-backed Stroke Care raises funding; UMU nets $14m

Uber said to have held talks to raise $500m for freight unit

Uber Technologies Inc. is in talks with investors interested in taking a stake in its Uber Freight division, according to people with knowledge of the matter. The San Francisco-based company, led by Dara Khosrowshahi, held discussions to raise $500 million in a funding round that would give its freight business a standalone valuation of about… Continue reading Uber said to have held talks to raise $500m for freight unit

US-based Navistar buys stake in TuSimple to develop self-driving trucks

Truck maker Navistar International Corp has bought a minority stake in TuSimple and aims to co-develop self–driving trucks by 2024 with the technology company as it rolls out a national U.S. autonomous freight network, the two companies said on Wednesday. Self–driving technology for freight trucks has attracted investor attention as it should be easier and cheaper to roll out than in self–driving cars and robotaxis, while providing… Continue reading US-based Navistar buys stake in TuSimple to develop self-driving trucks

Chinese energy service platform Newlink raises $129m led by CICC Capital

Chinese energy services platform has garnered as much as 900 million yuan ($129 million) in a Series D round of financing led by China International Capital Corporation’s private equity arm CICC Capital.  With this, the total capital raised by Newlink has reached over 2.4 billion yuan ($343 million).  The group claims that it is the… Continue reading Chinese energy service platform Newlink raises $129m led by CICC Capital

Chinese autonomous vehicle company WeRide starts driverless testing

WeRide, a Chinese autonomous vehicle startup, said on Friday it has become the first autonomous company to start fully driverless vehicle testing in China, as the world’s biggest auto market accelerates the development of autonomous technologies. Three-year-old WeRide, backed by Nissan, Renault and Mitsubishi, said in a statement that it started tests on Wednesday on… Continue reading Chinese autonomous vehicle company WeRide starts driverless testing

Amazon plans at least $100m to retain Zoox talent after $1.3b deal

Amazon.com Inc plans to create at least $100 million in stock awards to retain the 900-plus employees of Zoox, the self-driving car startup it offered to buy last month, and can walk away from the deal if large numbers of them turn down job offers from the technology giant. Amazon, which is aggressively expanding into self-driving technology, announced June 26 it had agreed to… Continue reading Amazon plans at least $100m to retain Zoox talent after $1.3b deal

India: Cars24 Financial Services raises first debt funding

Cars24 Financial Services Pvt Ltd, a subsidiary of Cars24 Services Pvt Ltd, has raised its first debt funding of ₹10 crore from Vivriti Capital Pvt Ltd. The capital will be utilised to lend to small dealers and consumers across 50 cities where Cars 24 operates. Launched in 2019 with an aim to provide seamless and instant… Continue reading India: Cars24 Financial Services raises first debt funding