Etergo, which was acquired by Ola Electric in May, will launch the App Scooter in the European market this year and in Asia next year, with India being first on the list, said one of the persons mentioned above on the condition of anonymity. The Bhavish Aggarwal-led Ola Electric is expected to locally source and manufacture… Continue reading India’s Ola Electric speeds up two-wheeler EV launch
Author: Deal Street Asia Online News
India: BluSmart Mobility raises $7m from Inflection Point Ventures, others
Delhi NCR-based all-electric ride hailing platform BluSmart Mobility Pvt Ltd has raised $7 million or ₹51 crore in pre-series A funding from multiple investors including Inflection Point Ventures, Venture Catalysts, Survam Partners, Mumbai Angels, Chhatisgarh Investments Ltd., JITO Angels, Lets Venture Fund and Kaplavriksh Fund, the company said on Monday. The company, which is also… Continue reading India: BluSmart Mobility raises $7m from Inflection Point Ventures, others
Japanese flying car developer SkyDrive raises $37m in Series B
Japan’s flying car developer SkyDrive has raised 3.9 billion yen (approximately $37 million) in its Series B funding round from a group of investors including Development Bank of Japan and Itochu Corporation, according to an announcement. STRIVE, formerly known as Gree Ventures, also participated in this round along with Obayashi Corporation, NEC Corporation, Eneos Innovation… Continue reading Japanese flying car developer SkyDrive raises $37m in Series B
Vietnam motorbike marketplace OKXE raises $5.5m in Series A funding
Vietnam-based OKXE.vn, an online marketplace for motorcycles, has raised $5.5 million in a Series A funding round led by South Korean venture capital firm Partners Investment. The round was backed by South Korean investors including IMM Investment Corp, KB Investment, Korea Omega Investment Corp, HB Investment, and SB Partners, OKXE founder and CEO Wooseok Kim… Continue reading Vietnam motorbike marketplace OKXE raises $5.5m in Series A funding
India: CarDekho plans to invest $20m in used car business in FY21
The Girnar Software Pvt Ltd-owned venture, also a leading vehicle search platform, plans to open 250 franchise stores this year and ramp up this network to over 1,000 retail locations by 2022. The franchise outlets would be branded CarDekho Trustmark stores. Used cars are seeing a surge in demand as buyers are increasingly opting for… Continue reading India: CarDekho plans to invest $20m in used car business in FY21
Evergrande sells $3b property management unit stake ahead of possible IPO
The property developer said last month it was considering a spin-off and separate listing for the unit, which is called Mangrove 3 Ltd. The introduction of strategic investors will enhance the corporate profile of the business and support its growth, it said in a filing late on Thursday. Fourteen investors bought into the deal, including… Continue reading Evergrande sells $3b property management unit stake ahead of possible IPO
India: Vehicle rental firm Zoomcar launches telematics software for fleet owners
Zoomcar’s new product launch focused on the business-to-business (B2B) segment comes at a time when mobility startups have been struggling to make money since the demand for public commute and vehicle rentals have reduced by at least 50% in the last few months. Due to the fall in demand, vehicle-sharing startups such as Bounce, VOGO,… Continue reading India: Vehicle rental firm Zoomcar launches telematics software for fleet owners
SG’s Carro raises $11m from Mitsubishi, MS&AD Ventures, others
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading SG’s Carro raises $11m from Mitsubishi, MS&AD Ventures, others
India: Spinny, Myntra in M&A news
Used car retailing platform Spinny, backed by Fundamentum Partnership, SAIF Partners and Accel, among others, has acquired smaller rival Truebil. In a separate development, fashion- and apparel-focussed e-commerce firm Myntra has acquired Bollywood actor Deepika Padukone’s stake in the All About You brand. Spinny acquires smaller rival Truebil Used car retailing platform Spinny, backed by… Continue reading India: Spinny, Myntra in M&A news
Ride-hailer TADA parent MVL bags $5m led by S Korean auto parts maker
Mass Vehicle Ledger (MVL), the company behind blockchain-based ride-hailing service TADA, on Thursday announced that it has raised $5 million in a recent funding round led by Central, a South Korean auto parts manufacturer. With this additional financing, MVL aims to accelerate its plan to supply electric vehicles in Southeast Asia, setting its sights to… Continue reading Ride-hailer TADA parent MVL bags $5m led by S Korean auto parts maker