Autonomous driving firm Pony.ai has raised around $500 million in its latest funding round, led by an investment by Japan’s largest automaker Toyota Motor Corp, two people with direct knowledge of the matter told Reuters. Toyota’s cheque of around $400 million marks its biggest investment in an autonomous driving company with a Chinese background, the… Continue reading Self-driving startup Pony.ai raises $500m in Toyota-led funding
Author: Deal Street Asia Online News
Grab deal signals path ahead for MUFG under new chief
FILE PHOTO – People walk past a branch of Mitsubishi UFJ Financial Group’s bank of Tokyo-Mitsubishi UFJ (MUFG) in Tokyo, Japan, May 16, 2016. REUTERS/Thomas Peter/File Photo Premium The price tag for a partnership with ride-hailing startup Grab Holdings was $706 million, an unprecedented sum for a Japanese lender to invest in an overseas nonfinancial… Continue reading Grab deal signals path ahead for MUFG under new chief
China’s cash-strapped EV maker Nio in talks with Hefei on funding
Chinese cash-strapped electric vehicle (EV) maker Nio Inc said it had signed framework agreements with Hefei‘s city government on a fundraising of more than 10 billion yuan ($1.42 billion) and new manufacturing facilities. Loss-making Nio is the most prominent among dozens of Chinese electric vehicle startups vying to become the next Tesla Inc. All are hampered by dwindling demand in the world’s largest car… Continue reading China’s cash-strapped EV maker Nio in talks with Hefei on funding
Blackstone to pick up majority stake in Chinese logistics biz Ruixin
Blackstone Group has agreed to spend no less than 260 million yuan ($37 million) to acquire a majority stake in a Guangdong-based logistics management company from a wholly-owned affiliate of Chinese conglomerate Dongbai Group. The New York-based private equity major is acquiring an 80 per cent stake in Chinese logistics management business, Foshan Ruixin Logistics… Continue reading Blackstone to pick up majority stake in Chinese logistics biz Ruixin
India: Two-wheeler rental startup Vogo raises $19m led by Lightstone Fund
Bengaluru-based two-wheeler rental platform Vogo Automotive Pvt Ltd has raised $19.1 million (Rs 137 crore) in its ongoing Series C funding round led by Lightstone Fund S.A. Existing investors Matrix Partners and Kalaari Capital have also participated in the financing. According to the company’s regulatory filings sourced by Paper.vc, Lightstone Fund has invested a total… Continue reading India: Two-wheeler rental startup Vogo raises $19m led by Lightstone Fund
Indian logistics startup Porter in talks to raise $30m at $120m valuation
The round is expected to be led by Swiss investor LGT, through its impact investment platform Lightstone Aspada, the people said. Founded by Pranav Goel and Uttam Digga in 2014, Porter is known as the ‘Uber for trucks’. The platform operates as a marketplace, wherein one can order mini trucks for intra-city handling from registered… Continue reading Indian logistics startup Porter in talks to raise $30m at $120m valuation
Car-sharing startup SOCAR raises $18m from Eugene PE, KH Energy
Car-sharing platform SOCAR announced that it has raised $18 million in a Series A funding round from South Korean investors Eugene Private Equity and KH Energy, according to a report by e27. SOCAR is headquartered in South Korea, but currently operates primarily in Malaysia. The company is expected to use the fresh funding to expand… Continue reading Car-sharing startup SOCAR raises $18m from Eugene PE, KH Energy
Ion Electric in talks to raise $3m from Monk’s Hill Ventures
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 Ion Electric in talks to raise $3m from Monk’s Hill Ventures
SoftBank mulls investment in India’s Mahindra Electric Mobility
Mahindra Electric Mobility Ltd, the wholly owned subsidiary of Mahindra & Mahindra Ltd (M&M), is in talks with Japan’s Softbank and several other potential investors, including original equipment manufacturers (OEMs), for strategic investment in the automaker. According to a report in the Business Standard, Softbank may pick up a minority stake in Mahindra Electric. The… Continue reading SoftBank mulls investment in India’s Mahindra Electric Mobility
NIO’s $100m fundraise falls short for cash-needy Chinese carmaker
Shares of NIO Inc. slumped after the electric-vehicle maker announced it’s issuing convertible notes that it expects to raise $100 million, a sum that won’t be sufficient to address its cash needs. The Chinese carmaker will sell $70 million of notes to one unidentified Asian investment fund through a private placement that should close around… Continue reading NIO’s $100m fundraise falls short for cash-needy Chinese carmaker