April 7, 2019 South Korea’s LG Chem said on Sunday that it has set up a joint venture with Vietnam’s VinFast Trading and Production to produce lithium-ion batteries for the Vietnamese carmaker’s electric scooters and electric vehicles. The two companies established their joint venture factory in the Vietnamese northern port city of Hai Phong, with an aim… Continue reading S Korea’s LG Chem sets up JV with Vietnamese car-maker VinFast
Author: Deal Street Asia Online News
Logistics startup BlackBuck raises $36m more from Accel, B Capital
April 5, 2019 Bengaluru-based online logistics startup BlackBuck has raised additional $36 million (Rs 249.78 crore) in a Series D round of funding from Accel Growth Fund and Singapore-based venture capital firm B Capital Group, which was established by Facebook co-founder Eduardo Saverin. According to the company’s filing with the Registrar of Companies (RoC) sourced… Continue reading Logistics startup BlackBuck raises $36m more from Accel, B Capital
Mahindra said to lead $500m round in self-drive car rental Zoomcar
April 3, 2019 Self-drive car rental platform Zoomcar (ZoomCar India Pvt. Ltd) is in talks to raise around $500 million in a fresh funding round led by automaker Mahindra and Mahindra Ltd, said two people aware of the development. The funding round will include a mix of debt and equity financing, the people said, requesting anonymity. An industry… Continue reading Mahindra said to lead $500m round in self-drive car rental Zoomcar
China’s Ganfeng Lithium boosts stake in Argentina project to 50%
April 2, 2019 China’s Ganfeng Lithium Co said on Monday it would spend $160 million to boost its ownership stake in an Argentina lithium project with Lithium Americas Corp, part of a plan to solidify its access to the white metal used to make electric vehicle batteries. The deal, which must still be approved by shareholders, will… Continue reading China’s Ganfeng Lithium boosts stake in Argentina project to 50%
Logistics startup TheLorry snags $5.85m Series B led by Malaysia’s FirstFloor Capital
April 2, 2019 South East Asian logistics startup TheLorry has raised $5.85 million in a Series B funding led by Malaysia-based FirstFloor Capital, according to a press release. PNB-INSPiRE Ethical Fund I, Cradle Seed Ventures, Axiata Digital Innovation Fund and existing investor, SPH Ventures, also participated in the round. Founded in September 2014, TheLorry operates… Continue reading Logistics startup TheLorry snags $5.85m Series B led by Malaysia’s FirstFloor Capital
Sequoia-backed Chinese EV startup Leap Motor seeks to raise $372m in new round
March 29, 2019 Electric vehicle start-up Leap Motor, co-founded by surveillance equipment maker Dahua Technology, is seeking to raise 2.5 billion yuan ($372 million) in its latest funding round to finance growth, three people with knowledge of the matter said. The Chinese company, backed by state-owned Shanghai Electric Group Corp and venture firm Sequoia Capital China, is… Continue reading Sequoia-backed Chinese EV startup Leap Motor seeks to raise $372m in new round
SoftBank, Toyota JV partners Honda, Hino for self-driving venture
March 28, 2019 Honda Motor Co and truck maker Hino Motors Ltd will join a joint venture of SoftBank Corp and Toyota Motor Corp that aims to develop self-driving car services, the venture said on Thursday. Under an agreement, Honda and Hino, in which Toyota owns a majority stake, would each invest around 250 million… Continue reading SoftBank, Toyota JV partners Honda, Hino for self-driving venture
Indian ride-hailing major Ola to invest $500m in self-drive venture: Report
March 28, 2019 Indian ride-hailing major Ola plans to invest $500 million to launch a self-drive service venture with an aim to broaden its portfolio of transportation solutions beyond just cabs to include scooters and electric vehicles, The Economic Times reported. The investment, which will be spread over the next couple of years, will comprise… Continue reading Indian ride-hailing major Ola to invest $500m in self-drive venture: Report
SoftBank Vision Fund to join $300m round in Chinese robotic startup Cloudminds
March 26, 2019 SoftBank Vision Fund is joining a $300 million investment in Cloudminds, helping the Chinese robotics and artificial intelligence startup ramp up production capacity with the goal of tripling its revenue this year. Cloudminds, which last raised money in 2017 at a $440 million valuation, aims to sell half a million of its… Continue reading SoftBank Vision Fund to join $300m round in Chinese robotic startup Cloudminds
India Digest: SoftBank, Amazon eye Drivezy; Vision Fund may lead Faasos round
March 25, 2019 Japanese investment conglomerate SoftBank and e-commerce giant Amazon are in talks to invest in a $100-million equity financing round in Drivezy while SoftBank, via its Vision Fund, may also lead fresh funding in Faasos SoftBank, Amazon in talks to invest in Drivezy Japanese investment conglomerate SoftBank and e-commerce giant Amazon are in… Continue reading India Digest: SoftBank, Amazon eye Drivezy; Vision Fund may lead Faasos round