January 24, 2019 BP said on Thursday it had invested in Chinese start-up PowerShare, which links electric vehicle drivers to charging points and helps power suppliers balance distribution. The PowerShare application, which is used in cities such as Shanghai, will help manage growing pressure on power grids as electric vehicles (EVs) usage surges in the… Continue reading BP Ventures invests in Chinese EV charging platform PowerShare
Author: Deal Street Asia Online News
GoMechanic raises up to $4.9m in funding round led by Sequoia Capital
January 23, 2019 Automobile repair and service solution startup GoMechanic has raised ₹30-35 crore ($4-$4.9 million) in a Series A round led by Sequoia Capital, said three people aware of the development, requesting anonymity. Last August, GoMechanic, run by Targetone Innovations Pvt. Ltd, raised an undisclosed amount in seed funding from early-stage venture capital fund Orios… Continue reading GoMechanic raises up to $4.9m in funding round led by Sequoia Capital
TomTom to sell Telematics unit to Japan’s Bridgestone for $1.03b
January 22, 2019 TomTom, the Dutch navigation and digital maps company, said on Tuesday it has agreed to sell its Telematics, or the fleet management business, to Japan’s Bridgestone for 910 million euros (£802.5 million or $1.03 billion). The company will return 750 million euros of that to shareholders via a capital repayment and share… Continue reading TomTom to sell Telematics unit to Japan’s Bridgestone for $1.03b
India Digest: Mytrah Mobility, Hitachi Payment, Dena Bank in the news
January 22, 2019 Mytrah Mobility has bagged $1b financing from UN-backed Green Climate Fund, while Hitachi Payment Services is acquiring 26 per cent stake in SBI Payment Services. Also, Dena Bank is selling 14 of its prime properties. Mytrah Mobility gets $1b funding from UN-backed Green Climate Fund UN-backed Green Climate Fund (GCF) will be channelising funds… Continue reading India Digest: Mytrah Mobility, Hitachi Payment, Dena Bank in the news
APAC Dealbook: Alliance backs Tekion; Motorist.sg snags funds
January 21, 2019 The corporate venture capital fund of Renault-Nissan-Mitsubishi Alliance has backed automotive retail platform Tekion while Singapore’s auto concierge platform Motorist.sg secures seed funding. Alliance Ventures backs platform for automotive retail Tekion Alliance Ventures, the corporate venture capital fund of Renault-Nissan-Mitsubishi Alliance, has announced an investment in Tekion, a US-based platform for automotive retail, according to… Continue reading APAC Dealbook: Alliance backs Tekion; Motorist.sg snags funds
Lime, Bird said to raise millions in new funding at far lower valuation
January 20, 2019 Two electric scooter startups, fresh off raising hundreds of millions of dollars last year, are now raising hundreds of millions more, according to multiple people familiar with the details. But the latest hard-fought deal terms for Lime and Bird Rides Inc. both peg the companies’ worth at far less than the lofty… Continue reading Lime, Bird said to raise millions in new funding at far lower valuation
India Digest: Emirati tycoon eyes Leela hotels; Kotak, Karvy Data bid for Ricoh
January 16, 2019 Emirati business tycoon Rashid Al-Habtoor has offered to acquire Leela Hotels, while Kotak Investment Advisors and Karvy Data Management Services have submitted bids for debt-laden Ricoh India. Emirati tycoon offers to acquire Leela hotels Emirati business tycoon Rashid Al-Habtoor has reportedly offered to acquire India’s Leela Group of Hotels with an equity infusion of about $600… Continue reading India Digest: Emirati tycoon eyes Leela hotels; Kotak, Karvy Data bid for Ricoh
China’s Evergrande Health to acquire 51% stake in Swedish EV firm for $930m
January 16, 2019 Evergrande Health Industry Group Ltd said it would buy a 51 percent stake in National Electric Vehicle Sweden AB for $930 million, as the Chinese healthcare service provider continues to diversify into new energy automotive industry. Evergrande Health, a unit of property developer China Evergrande Group, said it would buy the stake in National Electric Vehicle… Continue reading China’s Evergrande Health to acquire 51% stake in Swedish EV firm for $930m
SoftBank backs $44m funding in South Korean car-sharing startup SoCar
January 15, 2019 SoCar, a South Korean car-sharing company, has raised $44 million (about 50 billion won) in a new round of funding from Altos Ventures, KB Investment, Stonebridge Ventures, and SoftBank Ventures, The Investor reported. SoCar will use the fresh funding to invest in research and development to offer better mobility services through its… Continue reading SoftBank backs $44m funding in South Korean car-sharing startup SoCar
Kakao Mobility seeks to broker peace with taxi drivers protesting car-sharing service
January 15, 2019 South Korea’s Kakao Mobility on Tuesday said it would re-enter talks over its proposed car-sharing service with an open mind, and would even consider abandoning the idea, should taxi drivers who protested the service return to negotiations. The transportation unit of Kakao Corp, operator of the country’s most popular chat app, also… Continue reading Kakao Mobility seeks to broker peace with taxi drivers protesting car-sharing service