Bykea, a ride-hailing and parcel delivery startup based in Pakistan, has raised $13 million for its Series B round led by Prosus Ventures, according to a company statement. This is understood to be Prosus Ventures’s first investment in Pakistan. The round was also joined by existing investors Middle East Venture Partners (MEVP) and Sarmayacar, bringing… Continue reading Pakistan’s Bykea raises $13m Series B led by Prosus Ventures
Author: Deal Street Asia Online News
SG’s Neuron Mobility raises $12m Series A+ from existing backers
Singapore-headquartered electric scooter startup Neuron Mobility has raised $12 million in a Series A+ funding round co-led by returning Australian venture capital firm Square Peg, and GSR Ventures, according to an announcement. This new round brings the company’s total Series A funding to $30.5 million. Last December, Neuron Mobility raised $18.5 million in its Series… Continue reading SG’s Neuron Mobility raises $12m Series A+ from existing backers
China’s Evergrande reaches deal with some investors to ease cash crunch
China Evergrande Group reached a deal on Tuesday with investors holding 86.3 billion yuan ($12.66 billion) of its unit to not ask the debt-laden property developer to repurchase their holdings. Concerns have mounted in recent days that the country’s second-biggest property developer was headed for a major cash crush if it could not get government approval for… Continue reading China’s Evergrande reaches deal with some investors to ease cash crunch
Chinese FAW Group’s talks to acquire Italian truck major Iveco now on hold
Chinese state-owned carmaker FAW Group held talks to acquire Italian truck group Iveco earlier this year but these have now been put on hold, two people close to the matter said. FAW made a preliminary offer in July, valuing Iveco at a bit more than 3 billion euros ($3.5 billion), one of the sources said. The source said… Continue reading Chinese FAW Group’s talks to acquire Italian truck major Iveco now on hold
Chinese smart car supplier PATEO in talks to raise $147m ahead of STAR listing
Chinese smart vehicle supplier Shanghai PATEO Electronic Equipment Manufacturing Co is in talks with 22 potential investors to raise 1 billion yuan ($147 million) before its listing on the STAR market, a company spokesman told Reuters. The Shanghai-based company raised 700 million yuan in its latest funding round in April at a 4.6 billion yuan valuation. Its… Continue reading Chinese smart car supplier PATEO in talks to raise $147m ahead of STAR listing
Chinese EV maker Xpeng, its CEO invest in air taxi startup
Chinese electric vehicle (EV) maker Xpeng Inc said on Saturday that along with its CEO, He Xiaopeng, it has invested in air taxi startup Xpeng Heitech, as the global auto industry explores future mobility. Air taxis are vertical take-off and landing (VTOL) aircraft that use electric motors instead of jet engines. Designed to avoid the need for long runways, they have rotating wings and, in some cases, rotors in… Continue reading Chinese EV maker Xpeng, its CEO invest in air taxi startup
China’s CATL, GLP create joint venture to apply new energy in logistics
GLP has signed an agreement with Contemporary Amperex Technology Ltd (CATL), a Chinese battery provider which supplies firms like Tesla, to create a joint venture (JV) that will deploy new energy to advance sustainability in logistics and transportation, said the companies in a statement on Thursday. The JV will explore a range of opportunities including… Continue reading China’s CATL, GLP create joint venture to apply new energy in logistics
Uber unit Careem sees speedier-than-expected recovery
Uber Technologies Inc-owned Middle East business Careem is seeing its ride service recover more quickly than expected from the coronavirus crisis, while its delivery business is larger than before the pandemic. Careem, which mainly operates in the Middle East, had originally forecast that its ride service would recover at the end of 2021, but now expects it to rebound earlier in the year with some… Continue reading Uber unit Careem sees speedier-than-expected recovery
Chinese EV charging operator Star Charge nabs $125m co-led by Schneider, CICC
Star Charge, an integrated solution provider for electric vehicle (EV) charging, has raised 855 million yuan ($125 million) in its Series A round jointly led by French global energy and automation digital solution developer Schneider Electric and Chinese CICC Capital’s sub-fund. The round also saw the participation of China Construction Bank’s Hong Kong-based investment arm… Continue reading Chinese EV charging operator Star Charge nabs $125m co-led by Schneider, CICC
India’s Ola Electric looks to locally assemble its upcoming electric two-wheelers
Ola Electric is expected to launch its electric two-wheelers in the European market, with production already live in the Netherlands. SoftBank-backed Ola Electric is currently in the process of finalising the structure of manufacturing units in India, and it is looking to reduce dependence on the global supply chain by setting up a fully indigenous… Continue reading India’s Ola Electric looks to locally assemble its upcoming electric two-wheelers