Malaysia-headquartered online car sales platform iCar Asia has received a takeover proposal from NYSE-listed Chinese peer Autohome Inc at the price of A$0.5 ($0.35) per share. The development confirms DealStreetAsia’s report in September that the Catcha Group affiliate was up for sale. If successful in its bid, Autohome will acquire around 450 million iCar Asia… Continue reading Malaysia’s iCar gets over $150m takeover offer from China’s Autohome
Author: Deal Street Asia Online News
Meal kit delivery firm Blue Apron ends strategic review process after business uptick
Meal-kit delivery company Blue Apron Holdings Inc said on Thursday its board has concluded a review of its strategic options, after raising cash and seeing an improvement in its business during the COVID-19 pandemic. New York-based Blue Apron, which went public in 2017, said in February it is considering options including going private and a sale of the company or… Continue reading Meal kit delivery firm Blue Apron ends strategic review process after business uptick
Geely-backed intelligent auto developer ECARX nets $194m Series A led by Baidu
Chinese Internet search giant Baidu has led a 1.3-billion-yuan ($194 million) Series A funding round in ECARX, an intelligent auto solutions provider backed by automaker Geely. The new investment, which valued ECARX at over 10 billion yuan ($1.5 billion), also saw participation from investment firm SIG China, investment bank Lighthouse Capital, the exclusive financial adviser… Continue reading Geely-backed intelligent auto developer ECARX nets $194m Series A led by Baidu
Chinese ride-hailing firm Shouqi Yueche raises Series C funding
Ride-hailing platform Shouqi Yueche has raised ‘hundreds of millions of US dollars’ in its Series C funding round from a clutch of investors, per local media reports. The names of the investors have not been disclosed. The company last raised as much as 700 million yuan ($105 million) in its Series B+ funding round in November… Continue reading Chinese ride-hailing firm Shouqi Yueche raises Series C funding
SG Digest: Ion Mobility grabs $3.3m seed; Kamet Capital backs Tramés
Singapore-based electric motorbike startup Ion Mobility has secured $3.3 million in a seed round while supply chain technology startup Tramés has raised funding led by multi-family office Kamet Capital Partners. Ion Mobility secures $3.3m seed round Singapore-based smart electric motorbike startup Ion Mobility has secured $3.3 million in a seed round to launch products across… Continue reading SG Digest: Ion Mobility grabs $3.3m seed; Kamet Capital backs Tramés
Uber to invest over $150m in JV with SK Telecom’s mobility business
Uber Technologies said on Friday that it will invest over $150 million into a joint venture and partnership with South Korea’s SK Telecom Co Ltd, which is proposing to split off its mobility business. SK Telecom planned to split off its mobility business unit and launch T Map Mobility, while Uber would invest over $100… Continue reading Uber to invest over $150m in JV with SK Telecom’s mobility business
Indian electric motorcycle startup Ultraviolette plans to raise up to $75m
“The funds raised would be invested in getting the prototype bikes into production over the next three quarters, scale up operations, expand the team and also further invest in the R&D of in-house developed lithium-ion battery technology,” said one of the three, requesting anonymity. Part of the funds will be raised via equity and a… Continue reading Indian electric motorcycle startup Ultraviolette plans to raise up to $75m
Vietnam’s Vingroup eyes export of VSmart-branded 5G devices next year
Vietnamese conglomerate Vingroup said on Thursday it aimed to sell its VSmart-branded 5G devices to North American markets next year. The Hanoi-based company, the first in Vietnam to produce 5G smartphones, said it will export about 1.5-2 million devices to the US under outsourcing contracts starting this year, before exporting its own brand’s 5G equipments… Continue reading Vietnam’s Vingroup eyes export of VSmart-branded 5G devices next year
Luxury brands Louis Vuitton, Volvo tap Line chat app to connect with Thai consumers
Luxury fashion and auto brands in Thailand have turned to selling their products on Japanese chat app Line amid the coronavirus pandemic, tapping the country’s growing appetite for social commerce, a top executive said on Thursday. Brands like Louis Vuitton, Chanel, and Volvo were among those that opened official accounts on the messaging app, which… Continue reading Luxury brands Louis Vuitton, Volvo tap Line chat app to connect with Thai consumers
India: Subscription management startup Chargebee raises $55m led by Insight
Chennai and San Francisco-headquartered subscription management platform Chargebee has raised $55 million in its Series F funding led by Insight Partners, per an announcement. Existing investors Tiger Global and Steadview Capital also participated in the financing, bringing the company’s total funding to $105 million to date. With this investment, Chargebee will enhance its product and… Continue reading India: Subscription management startup Chargebee raises $55m led by Insight