Amazon.com Inc said on Tuesday it will launch a $2 billion venture capital fund that will focus on technology investments to reduce the impact of climate change and support sustainable development. The Climate Pledge Fund will invest in companies across industries such as transportation and logistics, energy, storage and utilization, manufacturing and materials, and food… Continue reading Amazon pledges $2b venture capital fund to invest in clean energy
Author: Deal Street Asia Online News
India: Bike taxi app Rapido launches logistics service for businesses
Bike taxi startup Rapido has launched ‘Rapido Store’, a new inter-city logistics service for businesses to deliver products at consumers’ doorsteps. The service can be availed by both offline and online businesses, and is currently operational in Bengaluru, and Vijayawada with plans to launch in new cities soon, the startup said. Rapido Store will help… Continue reading India: Bike taxi app Rapido launches logistics service for businesses
S Korea’s SsangYong Motor picks manager to sell Mahindra’s stake in India
South Korea’s SsangYong Motor has picked a manager to sell a stake held by India’s Mahindra and Mahindra, a spokesman at SsangYong said on Friday. SsangYong is looking for a new investor and has picked Samsung Securities, which is working with its global strategic partner Rothschild, to tap the market for interest, South Korean media reported earlier on Friday. The spokesman declined to name the adviser. Samsung Securities declined… Continue reading S Korea’s SsangYong Motor picks manager to sell Mahindra’s stake in India
Japan’s SoftBank invests in startup Splyt in hunt for super app
Japanese telco Softbank Corp said on Thursday it led a $19.5 million funding round in startup Splyt, which helps app operators integrate mobility options with other services, as it seeks to build its own super app. Japanese tech firms have lagged peers such as Tencent Holdings, with its WeChat app, in creating super apps, which offer access to a range of services via a single interface. SoftBank will… Continue reading Japan’s SoftBank invests in startup Splyt in hunt for super app
Chinese AI chip startup Biren bags $155m from Qiming, IDG, others
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 Chinese AI chip startup Biren bags $155m from Qiming, IDG, others
India: Logistics startup LetsTransport snags funding from Stride Ventures
Logistics start up LetsTransport on Monday raised ₹10 crore from Stride Ventures, a leading venture debt fund. The start-up will use the funds to scale up their operations and network so as to help streamline urban logistics for enterprises in the current times. Stride will be a strategic partner in LetsTransport’s journey with their customized… Continue reading India: Logistics startup LetsTransport snags funding from Stride Ventures
China Evergrande buys out Swedish new-energy car tech specialist
A promotional footage on a property development of China Evergrande Group is shown at a news conference in Hong Kong. Photo: Reuters Premium Real estate giant China Evergrande Group is purchasing the remaining 17.6% that it doesn’t already own of a Swedish new-energy car technology specialist for $380 million, as its drive to diversify beyond its core… Continue reading China Evergrande buys out Swedish new-energy car tech specialist
China Digest: Auto parts supplier Mancando bags $57m; IoT chip developer XINYI raises $28m
Huaxing Growth Capital Fund has led a Series B funding round of nearly 400 million yuan ($57 million) in B2B auto parts supplier Mancando, while Internet of Things (IoT) chip maker XINYI Information Technology has raised nearly 200 million yuan ($28 million) in a Series A+ round of financing. New Economy Fund leads $57m round in… Continue reading China Digest: Auto parts supplier Mancando bags $57m; IoT chip developer XINYI raises $28m
Chinese automaker Geely unit Xiaolinggou closes $97m in Series A round
Xiaolinggou, a new energy vehicle (NEV) rental unit of Chinese automaker Geely, has closed nearly 688 million yuan ($97 million) in a Series A round of financing as the parent company ramps up efforts to adopt a new rental model amid continued decline in China’s NEV sales since late 2019. The venture completed the initial… Continue reading Chinese automaker Geely unit Xiaolinggou closes $97m in Series A round
China’s Didi Chuxing CEO says ride sharing orders recover to pre-pandemic levels
Didi Chuxing, China’s biggest ride-hailing company which counts SoftBank as a backer, saw its ride sharing orders in China this month recover to levels seen over the same period a year earlier, its founder and Chief Executive Cheng Wei said. Didi‘s peak daily ride sharing orders surpassed 30 million, Cheng said in a statement on Saturday,… Continue reading China’s Didi Chuxing CEO says ride sharing orders recover to pre-pandemic levels