AutoX, an autonomous driving firm dual-headquartered in Hong Kong and California, has closed a $100 million Series A round led by Chinese state-owned Dongfeng Motor, which will help the startup build its fleet and expand the technical team. Dongfeng Motor injected tens of millions of US dollars in the investment. Silicon Valley-based incubator Plug and… Continue reading Self-driving startup AutoX snags $100m led by Chinese state-owned Dongfeng Motor
Author: Deal Street Asia Online News
Tencent bids for Chinese car comparison site Bitauto
Tencent Holdings Ltd and private equity partner Hammer Capital have offered $16 per share to buy out the other shareholders in Chinese car comparison website Bitauto Holdings Ltd, valuing the company at just under $1.2 billion. The offer from the Chinese e-commerce giant came at a premium of 16.4% to Bitauto’s Thursday close and is… Continue reading Tencent bids for Chinese car comparison site Bitauto
Chinese startup Full Truck Alliance breaks even en route to IPO
China’s Uber-for-trucks startup Full Truck Alliance said it’s weighing an initial public offering after breaking even from May, defying a sector-wide downturn. The company, which is backed by SoftBank Group Corp. and Tencent Holdings Ltd., said its improved financial performance dovetailed with its decision not to follow through on a plan to raise as much as $1… Continue reading Chinese startup Full Truck Alliance breaks even en route to IPO
Hedge fund Steadview in talks to lead $50m round in 2-wheeler rental startup Vogo
Hedge fund Steadview Capital is in talks to lead a $50 million funding round in two-wheeler rental startup Vogo, said two people aware of the matter. Existing investors such as venture capital firms Matrix Partners, Stellaris Venture Partners and Kalaari Capital are also expected to participate in the round, said the people cited above, who requested anonymity as the talks… Continue reading Hedge fund Steadview in talks to lead $50m round in 2-wheeler rental startup Vogo
China’s search engine giant Baidu to invest $202m in AI firm Neusoft
A man using a laptop computer walks past an illuminated sign for Baidu Inc. at the Baidu Technology Park in Beijing, China, on Friday, Nov. 25, 2016. Photographer: Bloomberg/Bloomberg China’s search engine giant Baidu said on Tuesday it will invest 1.44 billion yuan (164.03 million pounds) in artificial intelligence firm Neusoft Holdings, with a view… Continue reading China’s search engine giant Baidu to invest $202m in AI firm Neusoft
Indonesian logistics startup Paxel said to have raised $10m led by co-founder
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China’s CATL acquires stake in Australian lithium miner PilbaraMinerals
Chinese battery firm CATL has taken a stake in Australian lithium miner PilbaraMinerals, both companies said on Wednesday, after a supply glut hammered the sector and forced Pilbara to raise equity to fund working capital. CATL, one of China’s leading electric-vehicle battery makers, has bought an 8.5% stake in Pilbara as part of a A$91.5 million ($61.8 million) capital… Continue reading China’s CATL acquires stake in Australian lithium miner PilbaraMinerals
China Digest: Qiming invests $30m in Huimei; AutoX to deploy robo-taxis in Shanghai
Qiming has invested $30m in Huimei Technology, a Chinese medical AI solutions player, while AutoX and Shanghai authorities have announced a partnership to pilot the real-world use case of the country’s driverless future. Qiming invests $30m in Huimei Technology Huimei Technology, a Chinese artificial intelligence (AI)-powered medical solutions provider, has raised $30 million in a… Continue reading China Digest: Qiming invests $30m in Huimei; AutoX to deploy robo-taxis in Shanghai
India: Bike taxi startup Rapido raises $55.5m funding led by WestBridge
Bike taxi startup Rapido has raised around ₹400 crore in a round led by WestBridge Capital. New investors that have participated in this round include Alibaba’s BAce Capital and Shunwei Capital, along with existing investor Nexus, according to regulatory filings with the MCA, sourced from Paper.vc. This investment continues to mark the trend of investor… Continue reading India: Bike taxi startup Rapido raises $55.5m funding led by WestBridge
Tata Motors defers planned fundraise of up to $1.5b
Tata Motors Ltd has indefinitely deferred a planned fundraise of up to $1.5 billion in foreign currency loans after failing to garner sufficient interest from potential lenders, two people directly aware of the development said, requesting anonymity. The funds were to be raised by a Singapore-based entity of Tata Motors to refinance existing loans of Tata Motors… Continue reading Tata Motors defers planned fundraise of up to $1.5b