Chinese ride-hailing giant Didi Chuxing announced on Friday that its autonomous driving subsidiary has raked in $500 million in what is the firm’s first external funding round since Didi created the subsidiary in 2016. Led by SoftBank’s Vision Fund 2 and claimed to be the largest fundraising round in China’s autonomous driving sector, the transaction… Continue reading Chinese ride-hailing giant Didi Chuxing rakes in $500m for autonomous driving unit
Author: Deal Street Asia Online News
SoftBank-backed Ola Electric acquires Dutch scooter company Etergo
A unit of SoftBank Group-backed Indian ride-hailing company Ola will buy Amsterdam-based electric scooter company Etergo as part of its plan to locally build electric vehicles (EVs), the company said on Wednesday. Ola Electric did not disclose the amount it was paying to acquire Etergo, which was last valued at around 84 million euros ($92… Continue reading SoftBank-backed Ola Electric acquires Dutch scooter company Etergo
Chinese automaker BYD’s semiconductor unit raises $265m ahead of separate listing
BYD Semiconductor, a subsidiary of Chinese electric carmaker BYD, has entered into an investment agreement to raise 1.9 billion yuan ($265 million) from investors like Sequoia Capital China at a pre-money valuation of 7.5 billion yuan ($1.05 billion). According to a filing with the Hong Kong Stock Exchange (HKEX) on Tuesday, BYD Semiconductor will sell… Continue reading Chinese automaker BYD’s semiconductor unit raises $265m ahead of separate listing
India: Euler Motors raises $2.67m as part of Series A funding
The other investors in this round include Blume Ventures, Singapore based Jetty Ventures India Investments, and Udaan’s co-founder Sujeet Kumar. The funds will be used to launch its commercial EVs in key regions of the country and develop infrastructure for the smooth adoption of EVs, the company said in a statement. This is the first… Continue reading India: Euler Motors raises $2.67m as part of Series A funding
Southeast Asian ride-hailer TADA announces extended Series A funding
MVLLABS (MVL), the parent company of zero-commission ride-hailing operator TADA, has announced the completion of a Series A extension round led by Shinhan Bank, one of South Korea’s largest commercial banks by assets. Other investors, including Samkee Automotive, an international die-casting specialist, and iloom, a South Korean home living and furniture brand, also participated in… Continue reading Southeast Asian ride-hailer TADA announces extended Series A funding
Indonesian logistics startup Shipper said to have raised up to $20m from Naspers, others
Premium Indonesian logistics startup Shipper is said to have raised up to $20 million in its Series A round from South Africa-headquartered global internet group Naspers and return backers Lightspeed Venture Partners, Insignia Ventures Partners, and AC Ventures, according to two people closely involved with the deal. Go to Source
Car trader Chehaoduo nets $200m from SoftBank Vision Fund, Sequoia China
Chinese online car trading platform Chehaoduo Group announced on Wednesday that it has raised another $200 million from SoftBank’s $100-billion debut Vision Fund and Sequoia Capital China, in an extended Series D round of financing following the previous $1.5-billion tranche in February 2019. “The addition of funding has endorsed Chehaoduo’s risk-resistance capacity under the impact… Continue reading Car trader Chehaoduo nets $200m from SoftBank Vision Fund, Sequoia China
Chinese self-driving truck startup Inceptio raises $100m from GLP, others
China’s Inceptio Technology, a startup developing self-driving trucks, has raised $100 million in its latest funding round from logistics firm GLP, its key strategic investor G7 and other investors, two sources familiar with the matter told Reuters. The proceeds from its series A funding round will be used to further develop its technologies and to start commercial… Continue reading Chinese self-driving truck startup Inceptio raises $100m from GLP, others
India: Logistics startup FarEye raising $24.5m from Microsoft’s M12, others
Tech-enabled logistics management startup FarEye, operated by RoboticWares Pvt. Ltd, is raising about $24.5 million in its Series D funding round led by Microsoft’s corporate venture fund M12. According to the company’s filings with the Registrar of Companies (RoC) sourced by Paper.vc, M12 will subscribe to 40,866 compulsorily convertible preference shares (CCPS) of RoboticWares for… Continue reading India: Logistics startup FarEye raising $24.5m from Microsoft’s M12, others
Taiwan’s solid-state battery unicorn ProLogium nets nearly $100m
Premium Taiwan-based ProLogium Technology has closed nearly $100 million in a Series D round of financing, speeding up the company’s target to realize the mass production and delivery of solid-state battery packages for electric vehicles (EV) in 2021. Go to Source