Japanese telco Softbank Corp said on Thursday it led a $19.5 million funding round in startup Splyt, which helps app operators integrate mobility options with other services, as it seeks to build its own super app. Japanese tech firms have lagged peers such as Tencent Holdings, with its WeChat app, in creating super apps, which offer access to a range of services via a single interface. SoftBank will… Continue reading Japan’s SoftBank invests in startup Splyt in hunt for super app
Author: Deal Street Asia Online News
Chinese AI chip startup Biren bags $155m from Qiming, IDG, 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 Chinese AI chip startup Biren bags $155m from Qiming, IDG, others
India: Logistics startup LetsTransport snags funding from Stride Ventures
Logistics start up LetsTransport on Monday raised ₹10 crore from Stride Ventures, a leading venture debt fund. The start-up will use the funds to scale up their operations and network so as to help streamline urban logistics for enterprises in the current times. Stride will be a strategic partner in LetsTransport’s journey with their customized… Continue reading India: Logistics startup LetsTransport snags funding from Stride Ventures
China Evergrande buys out Swedish new-energy car tech specialist
A promotional footage on a property development of China Evergrande Group is shown at a news conference in Hong Kong. Photo: Reuters Premium Real estate giant China Evergrande Group is purchasing the remaining 17.6% that it doesn’t already own of a Swedish new-energy car technology specialist for $380 million, as its drive to diversify beyond its core… Continue reading China Evergrande buys out Swedish new-energy car tech specialist
China Digest: Auto parts supplier Mancando bags $57m; IoT chip developer XINYI raises $28m
Huaxing Growth Capital Fund has led a Series B funding round of nearly 400 million yuan ($57 million) in B2B auto parts supplier Mancando, while Internet of Things (IoT) chip maker XINYI Information Technology has raised nearly 200 million yuan ($28 million) in a Series A+ round of financing. New Economy Fund leads $57m round in… Continue reading China Digest: Auto parts supplier Mancando bags $57m; IoT chip developer XINYI raises $28m
Chinese automaker Geely unit Xiaolinggou closes $97m in Series A round
Xiaolinggou, a new energy vehicle (NEV) rental unit of Chinese automaker Geely, has closed nearly 688 million yuan ($97 million) in a Series A round of financing as the parent company ramps up efforts to adopt a new rental model amid continued decline in China’s NEV sales since late 2019. The venture completed the initial… Continue reading Chinese automaker Geely unit Xiaolinggou closes $97m in Series A round
China’s Didi Chuxing CEO says ride sharing orders recover to pre-pandemic levels
Didi Chuxing, China’s biggest ride-hailing company which counts SoftBank as a backer, saw its ride sharing orders in China this month recover to levels seen over the same period a year earlier, its founder and Chief Executive Cheng Wei said. Didi‘s peak daily ride sharing orders surpassed 30 million, Cheng said in a statement on Saturday,… Continue reading China’s Didi Chuxing CEO says ride sharing orders recover to pre-pandemic levels
Singapore car-sharing player Smove files for liquidation
Singapore-based car-sharing player Smove has voluntarily entered liquidation, according to a regulatory filing by the company. The development was first reported by the Straits Times. A filing with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) confirmed the move. A call to Smove’s customer service line went unanswered and the company didn’t immediately respond to DealStreetAsia’s… Continue reading Singapore car-sharing player Smove files for liquidation
India: CarTrade said to be raising $42.8m in Series H Round
Online auto classifieds platform CarTrade, operated by MXC Solution Private Ltd,is raising Rs 321.7 crore from investors including Mauritius-based Highdell Investment, per a report by INC42. This marks the Series H round of funding for the Mumbai-headquartered company, the report added. The company, backed by Warburg Pincus, JP Morgan, Temasek, March Capital and Epiphany ventures,… Continue reading India: CarTrade said to be raising $42.8m in Series H Round
Indonesian decacorn Gojek snags funding from Facebook, PayPal
Southeast Asian ride-hailing decacorn Gojek has secured an unspecified amount of investment from Facebook and PayPal as part of its Series F funding round. Gojek’s existing backers Google and Tencent have also topped their investments in the company, according to an official statement. The latest capital injection has brought the company’s Series F round to… Continue reading Indonesian decacorn Gojek snags funding from Facebook, PayPal