February 11, 2019 Autonomous technology startup Nuro said on Monday it raised $940 million from SoftBank Group Corp, which valued the Silicon Valley-based company at $2.7 billion. Nuro was co-founded in 2016 by two former engineers of Google’s self-driving car project, Dave Ferguson and Jiajun Zhu. The funding by SoftBank came through its $100-billion Vision… Continue reading Driverless delivery startup Nuro gets $940m from SoftBank Vision Fund
Author: Deal Street Asia Online News
Vietnamese logistics startup LOGIVAN raises $5.5m from Alpha JWC, others
February 11, 2019 LOGIVAN, a Vietnamese web platform that connects truckers with shipping capacity, has raised $5.5 million from two angel investors and venture capital firm Alpha JWC, it announced on Monday. David Su, a founding managing partner at Matrix Partners China, is one of the angel investors to have backed the latest funding. LOGIVAN plans… Continue reading Vietnamese logistics startup LOGIVAN raises $5.5m from Alpha JWC, others
French tiremaker Michelin acquires Indonesian peer Multistrada for $439m
February 6, 2019 French tire manufacturer Michelin has agreed to acquire Indonesian counterpart Multistrada Arah Sarana for $439 million to strengthen its presence in Southeast Asia’s largest market. In an official statement, Michelin said it will acquire 80 per cent of Jakarta-based Multistrada. It is understood that the company plans to launch a tender offer to… Continue reading French tiremaker Michelin acquires Indonesian peer Multistrada for $439m
SoftBank Vision Fund said to be in talks to invest $1.5b in Chinese used car site Guazi
February 2, 2019 The SoftBank-led Vision Fund is in talks to invest up to $1.5 billion in Chinese used car trading platform Guazi.com, two people with knowledge of the matter said. That would mark the latest Chinese deal by the mammoth $100 billion investment fund as it looks to expand in the world’s No.2 economy,… Continue reading SoftBank Vision Fund said to be in talks to invest $1.5b in Chinese used car site Guazi
Minda Industries acquires telematics hardware biz of KPIT Engineering
January 30, 2019 Automotive parts supplier Minda Industries Ltd., has acquired the location-tracking (telematics) hardware business of KPIT Engineering, which provides IT consulting and product engineering services to automakers, it said in a stock exchange filing. Minda makes automobile components, including horns, air filtration systems, seatbelts and speakers. It has 58 manufacturing plants globally, with… Continue reading Minda Industries acquires telematics hardware biz of KPIT Engineering
SG ride-hailing app Ryde secures investment from Nomad X
January 29, 2019 Singapore ride-hailing app Ryde has raised an undisclosed sum from investment firm Nomad X, according to a Business Times report. Ryde has also appointed Nomad X’s director and chief investment officer, Tan Suan Jin, as its chairman. The fundraising proceeds will be used to expand operations, execute new features, boost payments systems, and… Continue reading SG ride-hailing app Ryde secures investment from Nomad X
Grab to launch shuttle bus services in Yangon this year
January 29, 2019 Southeast Asia’s technology company Grab will expand its offerings in Myanmar by launching bus services in Yangon, as part of its 2019 plan to improve user experience in the frontier country. ‘GrabShuttle’ is among the four new ride-hailing services that Grab plans to introduce in 2019, according to an announcement. The bus… Continue reading Grab to launch shuttle bus services in Yangon this year
Allianz said to make headway in talks to acquire Malaysian auto insurer
January 29, 2019 Allianz Malaysia Bhd. has been chosen to progress in talks to acquire Malaysia’s second-biggest car insurer after edging out Japanese rival Mitsui Sumitomo Insurance Co., people with knowledge of the matter said. AmGeneral Insurance Bhd.’s owners have decided to enter detailed discussions with Allianz on a potential deal, according to the people,… Continue reading Allianz said to make headway in talks to acquire Malaysian auto insurer
India Digest: Ola cuts Foodpanda budget; IDFC’s road assets sale; SMILE Microfin owners eye exit
January 28, 2019 Ola has slashed its budget for Foodpanda, while Canadian pension funds and NIIF are in talks to acquire seven road assets of IDFC. Also, Developing World Markets is again looking to sell its 67 per cent in SMILE microfinance. Ola slashes Foodpanda budget Indian ride-hailing major Ola has reportedly more than halved its… Continue reading India Digest: Ola cuts Foodpanda budget; IDFC’s road assets sale; SMILE Microfin owners eye exit
Didi Chuxing, Beijing Electric form JV for new energy vehicle, AI projects
January 28, 2019 China’s Didi Chuxing said on Monday it had set up a joint venture (JV) with Beijing Electric Vehicle Co., a unit of Chinese carmaker BAIC, which will work on new energy vehicle and artificial intelligence projects. The JV, BAIC-Xiaoju New Energy Auto Technology Co. Ltd, aims to develop “next-generation connected-car systems”, Didi,… Continue reading Didi Chuxing, Beijing Electric form JV for new energy vehicle, AI projects