Malaysia’s first peer-to-peer (P2P) car-sharing platform Moovby announced that it has secured $500,000 from angel investors and strategic partners. In a separate development, Singapore Space and Technology Limited (SSTL) has officially been launched to develop the country’s space and related high technology industries. Malaysia’s P2P car-sharing platform Moovby raises $500k Malaysia’s first peer-to-peer (P2P) car-sharing… Continue reading Asia Digest: Moovby raises $500k; SSTL launches to shape SG’s space frontier
Author: Deal Street Asia Online News
After bumpy SE Asia ride, e-scooter startup Neuron Mobility chases growth in Australia, NZ
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 After bumpy SE Asia ride, e-scooter startup Neuron Mobility chases growth in Australia, NZ
Japan’s Nidec set to focus on electric vehicle powertrains to treble sales
Japan’s Nidec Corp plans to more than treble its revenue over the next five years by focusing on electric vehicle powertrains and buying specialists in motor technologies, two people familiar with the matter told Reuters. The world’s leading maker of precision motors which supplies parts for Apple’s iPhones is expected to detail its plans as soon as Tuesday when it will… Continue reading Japan’s Nidec set to focus on electric vehicle powertrains to treble sales
Japan’s TDK Ventures invests in air mobility firm AutoFlightX
TDK Ventures, the corporate venture arm of Japanese electronics firm TDK Corporation, has invested an undisclosed amount in AutoFlightX, an electric air mobility company headquartered in Munich, Germany and with R&D centres in Shanghai and Shenzhen. AutoFlightX, which started in February 2018, is involved in the development, production, sales, and operation of electric vertical take-off… Continue reading Japan’s TDK Ventures invests in air mobility firm AutoFlightX
MNC Group-affiliate IATA to acquire majority stake in ride-hailer Anterin
Publicly-listed Indonesia Transport & Infrastructure (IATA) is planning to acquire a majority stake in homegrown ride-hailing company Anterin for an unspecified amount, the former announced on Wednesday. In a filing to the Indonesia Stock Exchange, IATA, which is affiliated with local media conglomerate MNC, said it has signed a binding term sheet to acquire Anterin… Continue reading MNC Group-affiliate IATA to acquire majority stake in ride-hailer Anterin
India unveils InvIT road map for national highways
NHAI’s InvIT offer, expected in the months ahead, is part of the government’s plans to tap alternative sources of financing to boost public spending in the roads and infrastructure sector amid declining private sector interest in the build, operate and transfer model, where the entire initial cost is borne by them. In addition to the… Continue reading India unveils InvIT road map for national highways
US-based electric scooter startup Bird extends latest funding round by $75m
Electric scooter startup Bird said on Monday it had raised an additional $75 million in its Series D funding round, bringing the total to $350 million. The California-based company also said it would acquire European peer Circ, without disclosing financial details of the deal. Bird in October raised $275 million in the Series D funding round led by Canadian pension fund CDPQ and Sequoia… Continue reading US-based electric scooter startup Bird extends latest funding round by $75m
Indian parking app Park+ raises $11m led by Sequoia, Matrix Partners
Park+, a startup focused on digitising parking across India, has raised $11 million in a funding round co-led by venture capital firms Sequoia Capital and Matrix Partners India, per an announcement. The funding round also saw participation from MakeMyTrip founder Deep Kalra and cofounder Rajesh Magow, BookMyShow founder and CEO Ashish Hemrajani, CRED founder Kunal… Continue reading Indian parking app Park+ raises $11m led by Sequoia, Matrix Partners
Chinese automaker BYD plans to inject $51m into BYD-Daimler EV JV
Chinese automobile manufacturer BYD announced on Wednesday that it has agreed to inject 350 million yuan ($51 million) in cash into Denza, an equally owned joint venture between BYD and Germany’s Daimler AG that specialises in luxury electric vehicles. Shenzhen-based BYD, which is backed by U.S. billionaire Warren Buffet, is making the investment through its… Continue reading Chinese automaker BYD plans to inject $51m into BYD-Daimler EV JV
Self-drive rental platform Zoomcar raises $30m from Sony fund, others
The Sony Innovation Fund was set up by Japanese technology giant Sony in June 2019 in partnership with Daiwa Capital Holdings to invest in growth-stage technology companies. Zoomcar plans to deploy the capital for growth, to improve its technology and data science infrastructure, besides upgrading its IoT capability that is currently being used for its… Continue reading Self-drive rental platform Zoomcar raises $30m from Sony fund, others