It’s the epitome of a closed circuit: the utility helping power one of Southeast Asia’s biggest cities is building electric cars, batteries and charging stations for the nascent market, and then supplying the juice to keep them all running. Thailand billionaire Somphote Ahunai envisions his Energy Absolute Pcl as a titan of EVs even though… Continue reading Billionaire behind Energy Absolute is seeking to build the Tesla of Thailand
Author: Deal Street Asia Online News
Indonesia Digest: East Ventures backs Feedloop; Automo nabs seed funding
Indonesian early-stage VC East Ventures has invested in the seed round of marketing SaaS company Feedloop while online automobile marketplace Automo has closed a seed funding round of $145,000 from angel investors. Saas startup Feedloop secures seed funding from East Ventures Marketing SaaS company Feedloop has secured an unspecified amount of seed funding round from… Continue reading Indonesia Digest: East Ventures backs Feedloop; Automo nabs seed funding
India Digest: Bajaj Auto eyes Yulu; IAN exits Spinny
Bajaj Auto is in advanced talks to pick up a stake in electric scooter rental startup Yulu while IAN said it has successfully exited its investment in Spinny, a used car buying and selling platform. Bajaj Auto mulls investing in Yulu Bajaj Auto is in advanced talks to pick up a stake for an investment… Continue reading India Digest: Bajaj Auto eyes Yulu; IAN exits Spinny
Most SoftBank Vision Fund investors want to join second fund, says Son
Most investors in SoftBank Group Corp’s $100 billion Vision Fund want to join the group’s forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday, adding discussions would begin soon. The entrepreneur said in May a second fund would launch “soon”, with SoftBank likely to be the only investor initially. Raising further funds… Continue reading Most SoftBank Vision Fund investors want to join second fund, says Son
Ola-backed Vogo bags funding from former Myntra CEO, others
Ride-hailing firm Ola-backed scooter rental platform Vogo Automotive Pvt. Ltd. on Tuesday said that it has raised an undisclosed amount in funding from former Myntra CEO Ananth Narayanan, serial entrepreneurs K Ganesh and Srini Anumolu, as well as Manish Vij, the founder of SVG Media. The announcement comes a day after its close competitor, Bounce,… Continue reading Ola-backed Vogo bags funding from former Myntra CEO, others
India Digest: Mahindra puts $4.3m in Gamaya; NinjaCart seeks funding from Amazon
Mahindra & Mahindra’s Farm Equipment Sector (FES) said it is investing $4.3 million in Switzerland-based agri-tech firm Gamaya SA while NinjaCart is in talks with Amazon for funding. Mahindra invests $4.3m in Gamaya Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the $20.7 billion Mahindra Group, on Friday announced that it is investing… Continue reading India Digest: Mahindra puts $4.3m in Gamaya; NinjaCart seeks funding from Amazon
Grab said to have discussed buying Asia payments startup 2C2P
Singapore ride-hailing giant Grab held talks to acquire payments provider 2C2P Pte and was turned down, according to people familiar with the matter, a sign of the ambitions Southeast Asia’s most valuable startup has in financial services. Grab was one of multiple possible bidders interested in 2C2P with preliminary offers ranging up to about $200… Continue reading Grab said to have discussed buying Asia payments startup 2C2P
Hellobike sets up $145m e-bike battery JV with Ant Financial, CATL
Chinese bike sharing company Hellobike has joined forces with Ant Financial and CATL to invest 1 billion yuan ($144.5 million) to establish an e-bike battery joint venture, media reports cited a joint announcement. The holding percentage of each party in the joint venture was not disclosed. Hellobike’s existing platform already exchanges 500,000 rechargeable batteries for… Continue reading Hellobike sets up $145m e-bike battery JV with Ant Financial, CATL
Indonesia’s GOJEK acquires AirCTO to expand engineering base in India
Indonesia-based ride-hailing startup Go-Jek on Wednesday announced its acquisition of Bengaluru-based AirCTO, an Artificial Intelligence- based recruitment platform, for an undisclosed amount. Go-Jek will use the acquisition to open its second engineering and product development center in Gurgaon, according to the company’s statement. As part of the deal, the AirCTO team will join Go-Jek with… Continue reading Indonesia’s GOJEK acquires AirCTO to expand engineering base in India
Thyssenkrupp, Tata Steel JV hits a roadblock, rejected by EU regulators
Thyssenkrupp and Tata Steel’s plan to form a landmark joint venture was rejected by EU antitrust regulators on Tuesday, concerned that the deal would have pushed up prices and reduced competition. The European Commission said the companies, which had looked to the deal as one way to tackle overcapacity and other challenges in the steel… Continue reading Thyssenkrupp, Tata Steel JV hits a roadblock, rejected by EU regulators