Author: Deal Street Asia Online News

China Digest: Xiaomi plans to invest in Black Sesame; Hillhouse backs Yrobot

Chinese smartphone major Xiaomi is reportedly looking to invest in Black Sesame Technologies while Yrobot has closed its Series A round.  Xiaomi plans to invest in Black Sesame Chinese global electronics giant Xiaomi Corporation is considering joining the 1.5 billion yuan ($231 million) funding round for Shanghai-headquartered AI and autonomous driving chipmaker Black Sesame Technologies… Continue reading China Digest: Xiaomi plans to invest in Black Sesame; Hillhouse backs Yrobot

Asia Digest: Australia’s Archistar secures $6m, Kakao acquires VC-backed Zigzag

Australian property intelligence platform Archistar has raised $6 million in funding for expansion, while South Korea’s Kakao Corporation has acquired VC-backed local fashion marketplace Zigzag. Aussie proptech startup Archistar raises $6m Australian property intelligence platform Archistar announced raising $6 million in funding co-anchored by private investment fund Skip Capital and existing investor AirTree Ventures. Launched… Continue reading Asia Digest: Australia’s Archistar secures $6m, Kakao acquires VC-backed Zigzag

Self-driving truck maker TuSimple valued at $8.5b in Nasdaq debut …

Shares of TuSimple Holdings Inc made a lackluster U.S. stock market debut on Thursday, giving the self-driving truck maker a market capitalization of $8.5 billion. TuSimple shares opened at $40.25, marginally higher than their initial public offering (IPO) price of $40 per share. The San Diego, California-based company sold about 27 million shares in its IPO… Continue reading Self-driving truck maker TuSimple valued at $8.5b in Nasdaq debut …

Geely’s EV unit Polestar raises $550m in external funding

Sweden’s Polestar, the electric car maker controlled by Volvo and its parent, the Chinese automaker Geely, has raised $550 million in external funding, the company said on Thursday. The financing is Polestar‘s first external funding and comes amid a year of sustained sales and share price growth for electric vehicle (EV) makers such as Tesla Inc and Nio Inc.… Continue reading Geely’s EV unit Polestar raises $550m in external funding

Vingroup eyes $60b valuation for car unit in potential US IPO

Vingroup JSC, Vietnam’s largest conglomerate, is considering a U.S. initial public offering (IPO) of its car unit that could value VinFast at about $60 billion, two people familiar with the matter said on Monday. Vingroup, which was founded in 1993 in Ukraine, is working with Credit Suisse Hong Kong for the potential offering on the New… Continue reading Vingroup eyes $60b valuation for car unit in potential US IPO

India: Used car retailing startup Spinny snags $65m led by General Catalyst

Gurugram-based used car retailing platform Spinny on Thursday announced that it has raised $65 million in Series C funding led by Silicon Valley-based venture capital firm General Catalyst – an early backer of Airbnb, Stripe, Snapchat, Vroom, Cazoo, among others. Other new investors in the round include Feroz Dewan’s Arena Holdings, and Think Investments. The… Continue reading India: Used car retailing startup Spinny snags $65m led by General Catalyst

Singapore ride-hailing firm MVLLABS raises $15m Series B, launches first EV for SE Asia …

MVLLABS Pte Ltd, the company behind the zero-commission, blockchain-based ride-hailing service TADA, has raised $15 million in a Series B round led by the South Korean automotive parts manufacturer CENTRAL, an existing investor. The round also saw participation from Singapore-based TRIVE Ventures. In 2018, MVLLABS launched TADA in Singapore. Subsequently, the company expanded to Vietnam… Continue reading Singapore ride-hailing firm MVLLABS raises $15m Series B, launches first EV for SE Asia …

Chinese self-driving startup Momenta raises $500m from SAIC, Toyota, others

Chinese autonomous driving startup Momenta said on Friday it has received $500 million from SAIC Motor, Toyota Motor and auto parts supplier Bosch, as the global auto industry pursues the autonomous future. Other investors in the funding round include Daimler AG, Temasek, Yunfeng Capital and Tencent, Momenta said in a statement. It did not disclose… Continue reading Chinese self-driving startup Momenta raises $500m from SAIC, Toyota, others