Author: Deal Street Asia Online News

Yandex, Uber JV to buy Vezet’s Russian assets in expansion push

Russian internet company Yandex NV said on Monday its ride-sharing and food delivery joint venture with Uber had agreed to buy intellectual property and local call centres from Vezet group as it plans further expansion in the country. Yandex and Uber Technologies Inc combined their taxi businesses across Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan in 2017… Continue reading Yandex, Uber JV to buy Vezet’s Russian assets in expansion push

China’s Didi Chuxing to open its app to third-party ride-hailing firms

China’s biggest ride-hailing company Didi Chuxing will allow users of its smartphone app to access services provided by apps of three domestic auto firms and others, in a push to generate more orders. Didi said in a statement on Monday it has opened its ride-hailing platform to third parties including those of FAW Group, Dongfeng Motor and Guangzhou… Continue reading China’s Didi Chuxing to open its app to third-party ride-hailing firms

Apple vendor Japan Display secures bailout after funding shortfall

Japan Display Inc said on Friday that a group led by Chinese investment firm Harvest Group had formally secured additional funding for a previously announced 80 billion yen ($738 million) bailout plan for the screen maker. Harvest would increase its investment, included a $100 million investment from a JDI customer, Japan Display said. A source… Continue reading Apple vendor Japan Display secures bailout after funding shortfall

GOJEK set to spruce up financial services, food delivery in Thailand

Indonesian ride-hailing app Go–Jek will offer more financial services and expand its Thai food delivery business following an investment from Thailand‘s top lender, an executive said on Thursday. Siam Commercial Bank Pcl said it made a “significant investment” in Go–Jek‘s Series F funding round. The company raised around $1 billion earlier this year. It is valued at up to $10 billion, according to sources.… Continue reading GOJEK set to spruce up financial services, food delivery in Thailand

India: Cycle sharing platform Yulu in talks to raise funds from Xiaomi arm, Shunwei, others

Bengaluru-based cycle sharing platform Yulu, which offers electric cycles and bicycles on hire for last-mile commute, is in advanced talks to raise a Series A round of ₹100 crore ($15 million) from Chinese investors, including Shunwei Capital, Xiaomi’s venture capital arm, and ex-InMobi chief business officer Atul Satija, according to three people aware of the development.… Continue reading India: Cycle sharing platform Yulu in talks to raise funds from Xiaomi arm, Shunwei, others

Warburg-backed logistics robotics startup Geek+ snags $150m Series C1 round

Chinese logistics robotics startup Geek+ has closed a $150 million Series C1 round, led by GGV Capital and US-based hedge fund D1 Capital Partners, according to an announcement on Wednesday. The round, which is reportedly the largest in the logistics robot industry – also saw participation of its existing investors including Warburg Pincus, a US-based… Continue reading Warburg-backed logistics robotics startup Geek+ snags $150m Series C1 round

India Dealbook: Cornerstone backs two B2B startups; PURE EV gets funding

B2B tech startups, Wigzo and IntelligenceNode Consulting, and IIT Hyderabad-incubated PURE EV are among the latest startups that have raised funding. Cornerstone Venture backs B2B startups Cornerstone Venture Partners, established by former Reliance Industries executives, has invested $1 million each in two early-stage B2B tech startups, Wigzo and IntelligenceNode Consulting. The VC firm, founded by… Continue reading India Dealbook: Cornerstone backs two B2B startups; PURE EV gets funding

GOJEK said to have secured investment from Thailand’s Siam Commercial Bank

Ride-hailing giant Go-Jek has secured an investment from Siam Commercial Bank Pcl, the Thai lender that counts King Maha Vajiralongkorn as its biggest shareholder, according to people familiar with the matter. It’s unclear how much Thailand’s biggest bank is investing in Go-Jek, the people said, who asked not to be identified because the matter is… Continue reading GOJEK said to have secured investment from Thailand’s Siam Commercial Bank