Innoviz Technologies, the Israel-based company that develops cutting-edge LiDAR (Light Detection and Ranging) technology, has closed its Series C funding round with an additional $38 million to bring the total series funding to $170 million. In March, the tech firm announced that it has raised $132 million in the Series C round, with Chinese investment… Continue reading China Merchants Capital-backed LiDAR startup Innoviz closes Series C at $170m
Author: Deal Street Asia Online News
Mahindra-backed self-drive Zoomcar in merger talks with rival Drivezy
Self-drive car rental company Zoomcar and car and bike rental startup Drivezy are in preliminary talks for an equal merger, three people aware of the matter said. Zoomcar, which was started by American duo Greg Moran and David Back in 2013 in Bengaluru, is now backed by Mahindra and Mahindra Ltd (M&M). Drivezy, launched as JustRide… Continue reading Mahindra-backed self-drive Zoomcar in merger talks with rival Drivezy
SoftBank may pump up to $500m in Indian food delivery startup Swiggy
Food delivery startup Swiggy is in advanced talks to raise as much as $1 billion from investors, including $300-500 million from SoftBank Group, stealing a march on rival Zomato, which was also wooing the Japanese firm for a mega investment, four people familiar with the development said. If the deal goes through, it will be… Continue reading SoftBank may pump up to $500m in Indian food delivery startup Swiggy
China’s electric vehicle maker Bordrin Motor raises $361m from Sinochem, others
Chinese electric vehicle maker Bordrin Motor raised RMB2.5 billion ($361.85 million) in a new round of financing, led by Yin An Capital, an investment vehicle of state-owned Sinochem International Corporation, according to an announcement. The funding round also saw the participation of the company’s existing investors including Chinese private equity firm CGP Investment and Japanese… Continue reading China’s electric vehicle maker Bordrin Motor raises $361m from Sinochem, others
Unilever Ventures leads $10.5m funding in Indian grocery delivery startup Milkbasket
Unilever Ventures, the investment arm of consumer packaged goods company Unilever Plc, has led a $10.5-million investment in Gurgaon-based grocery delivery startup Milkbasket. Other investors who participated in the latest round of funding include Mayfield India, Kalaari Capital and Blume Ventures, besides a few Indian family offices. “While the industry is witnessing a number of… Continue reading Unilever Ventures leads $10.5m funding in Indian grocery delivery startup Milkbasket
Chinese robot developer Robosen raises $14.5m in Series A funding
Robosen, a Chinese manufacturer of intelligent auto-transforming robot, has raised Rmb100 million ($14.5 million) in its Series A funding round, led by CMB International Capital Corporation (CMBI), an investment unit of China Merchants Bank. In a statement, Robosen, founded in 2011 in Beijing, said the funding round also saw participation of Hu Yu, the co-founder… Continue reading Chinese robot developer Robosen raises $14.5m in Series A funding
Amazon keen to buy prepaid brand Boost from T-Mobile, Sprint
Amazon.com Inc is interested in buying prepaid cellphone wireless service Boost Mobile from U.S. carriers T-Mobile US Inc and Sprint Corp, two sources familiar with the matter said on Thursday. Amazon is considering buying Boost – currently one of Sprint’s prepaid brands – mainly because the deal would allow it to use the new T-Mobile’s wireless… Continue reading Amazon keen to buy prepaid brand Boost from T-Mobile, Sprint
Vietnam’s ride-hailing firm BE partners VPBank to launch payments services
BE Group, the local rival of Grab and GOJEK in Vietnam, has launched its digital financial services in partnership with Vietnamese lender VPBank. beFinancial will integrate VPBank’s services into the be app to become a platform that comprises ride-hailing, payments, loyalty and reward and other online financial services for drivers and local SMEs. Earlier in… Continue reading Vietnam’s ride-hailing firm BE partners VPBank to launch payments services
SoftBank’s Vision Fund plans to borrow $4b against Uber equity stake
SoftBank Group Corp.’s Vision Fund plans to borrow about $4 billion against its equity stakes in Uber Technologies Inc. and other startups, according to a report in the Financial Times. The fund is discussing the loan with banks including Goldman Sachs Group Inc. and would use as collateral its holdings in Guardant Health Inc. and… Continue reading SoftBank’s Vision Fund plans to borrow $4b against Uber equity stake
Nissan CEO sees no major downside to $35b FCA-Renault merger
Nissan sees no major downside to partnering with a combined Renault and Fiat Chrysler (FCA), it said on Wednesday in a lukewarm endorsement of the proposed $35 billion tie-up, which would complicate an already uneasy alliance. The leaders of Nissan Motor Co, France’s Renault SA and junior partner Mitsubishi Motors Corp gathered at Nissan‘s headquarters in Yokohama for a scheduled alliance meeting which was overshadowed… Continue reading Nissan CEO sees no major downside to $35b FCA-Renault merger