To strengthen their direct sourcing of fresh produce, Walmart and Flipkart today announced a joint strategic investment in supply chain start-up Ninjacart. Partnering with Ninjacart will help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India’s Best Price B2B cash-and-carry stores and Flipkart’s online grocery business Supermart. The investment will also support… Continue reading India: Flipkart, Walmart invest in supply chain startup Ninjacart
Author: Deal Street Asia Online News
Carsome raises $50m Series C in debt & equity from MUFG, Daiwa, others
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Asian logistics startups jostle to be ‘Uber’ of last-mile delivery
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 Asian logistics startups jostle to be ‘Uber’ of last-mile delivery
China’s Dongfeng plans partial sale of Peugeot owner PSA stake
China’s Dongfeng Motor will likely trim its stake in Peugeot owner PSA after hiring banks to study options, people close to the matter said, in a move that could ease the French carmaker’s planned merger with Fiat Chrysler (FCA). Dongfeng has a 12.2% equity stake in the French carmaker, and would have about half of that in the… Continue reading China’s Dongfeng plans partial sale of Peugeot owner PSA stake
Toyota Motor leads $50m funding in US-based startup May Mobility
May Mobility, a US-based self-driving shuttle service provider, announced on Thursday that it has raised $50 million in a Series B round led by Toyota Motor Corporation. The round also saw the participation of SPARX Group and existing investors Millennium Technology Value Partners, Cyrus Capital Partners, BMW iVentures, and Toyota AI Ventures. The corpus raised… Continue reading Toyota Motor leads $50m funding in US-based startup May Mobility
Chinese PE Qingdao Wudaokou acquires stake in Chery Group
China’s private firm Qingdao Wudaokou New Energy Industrial Fund has announced the acquisition of stakes in the units of Chinese automaker Chery Group, per a company filing on its official Weibo account on Wednesday. Qingdao Wudaokou closed the deal at about 14 billion yuan ($2 billion). Qingdao Wudaokou will acquire 30.99 per cent stake in… Continue reading Chinese PE Qingdao Wudaokou acquires stake in Chery Group
Ride-hailing firm Tada parent MVL raises $5m in expansion push
Mobility ecosystem MVL, the company behind ride-hailing firm Tada, has raised $5 million in its Series A funding round that will fuel the development of its mobility ecosystem and expansion of its existing markets. In an announcement, the Singapore-based firm said the funding round was led by South Korean venture capital firm SV Investment. Two… Continue reading Ride-hailing firm Tada parent MVL raises $5m in expansion push
PSA says China’s Baoneng potential buyer for its 50% Capsa stake
Chinese group Baoneng is on a list of possible buyers of French carmaker PSA Group’s 50% stake in Shenzhen-based Capsa, which builds cars under PSA‘s premium DS brand, a PSA spokesman said on Friday. PSA‘s board will review the planned sale of Capsa on Dec. 6, sources familiar with the situation said. On Thursday, PSA Group said it was preparing to sell its… Continue reading PSA says China’s Baoneng potential buyer for its 50% Capsa stake
India Dealbook: CarDekho buys Carmudi Philippines; FirstCry acquires Oi Playschool
India’s CarDekho has acquired auto marketplace Carmudi Philippines in a bid to expand its service offerings across Southeast Asia while FirstCry has marked its entry into education sector with the acquisition of Oi Playschool. CarDekho acquires Carmudi Philippines Sequoia-backed online auto classifieds portal CarDekho has acquired auto marketplace Carmudi Philippines to expand its service offerings… Continue reading India Dealbook: CarDekho buys Carmudi Philippines; FirstCry acquires Oi Playschool
Indian bike rental startup Bounce raises $150m led by B Capital, Accel
Bengaluru-based bike rental startup Bounce has raised $150 million in its Series D funding led by existing investors B Capital, a global technology fund led by Facebook co-founder Eduardo Saverin, and Accel Partners India. The latest round has spiked the company’s post-money valuation to $500 million, almost double what it attained in Series C round… Continue reading Indian bike rental startup Bounce raises $150m led by B Capital, Accel