Author: Deal Street Asia Online News

Chinese electric vehicle maker Leap Motor raises $290m in funding

November 22, 2018 Hangzhou-based electric vehicle maker Leap Motor has raised RMB2 billion ($290 million) for its ongoing Series A round led by Shanghai Electric Group, it said in an announcement on November 21. The startup aims to raise RMB2.5 billion ($360 million) by the end of the year. Other investors that joined the round… Continue reading Chinese electric vehicle maker Leap Motor raises $290m in funding

VW-backed ride-hailing app Gett seeks buyers to compete with bigger rivals

November 19, 2018 Gett Inc., the ride-hailing app valued at more than $1 billion and backed by Volkswagen AG, is looking for buyers in a bid to compete with larger rivals, people familiar with the matter said. The Israeli tech company has approached potential bidders including other car-hire firms, the people said, asking not to… Continue reading VW-backed ride-hailing app Gett seeks buyers to compete with bigger rivals

SG’s ComfortDelGro to set up $100m VC fund to invest in mobility startups

November 9, 2018 Singapore’s largest taxi operator ComfortDelGro announced that it is setting up a $100-million corporate venture capital fund to focus on incubation and investments in mobility technologies and solutions that complement the company’s land transport business. The fund – ComfortDelGro Capital Partners (CCP) – will invest in startups that plug technology gaps, and… Continue reading SG’s ComfortDelGro to set up $100m VC fund to invest in mobility startups

Mubadala’s venture arm leads $60m round for US logistics startup Turvo

November 9, 2018 Abu Dhabi state fund Mubadala Investment Company, through its venture capital arm Mubadala Ventures, has led a $60-million funding round for California-based logistics platform Turvo, according to an announcement. The Series B funding round also saw participation from new investors G2VP and Next47, the Siemens-backed global venture firm. Existing investors Activant Capital, Felicis… Continue reading Mubadala’s venture arm leads $60m round for US logistics startup Turvo

Grab secures $50m funding from KASIKORNBANK, marks entry of payments biz in Thailand

November 8, 2018 Ride-hailing major Grab announced that it has raised an $50 million strategic investment from Thailand-based KASIKORNBANK (KBank), at the same time, marking the entry of its payment arm into the Thai market, it said in an announcement today. According to the startup, Grab Financial has secured an e-money licence in Thailand, and… Continue reading Grab secures $50m funding from KASIKORNBANK, marks entry of payments biz in Thailand

Liberty House to acquire three more European steel plants from ArcelorMittal

November 4, 2018 Liberty House Group, a UK-based company owned by India-born British businessman Sanjeev Gupta, has signed an agreement to acquire three more steel plants in Europe from global steel giant ArcelorMittal. Under the agreement, Liberty House intends to buy the Flemalle and Tilleur sites near Liege, Belgium and the Dudelange, Luxembourg facility, according to an… Continue reading Liberty House to acquire three more European steel plants from ArcelorMittal

Hyundai, Yield Capital launch $100m hydrogen energy-focused VC

November 1, 2018 South Korea’s Hyundai Motor Company has teamed up with Beijing-Tsinghua Industrial R&D Institute (BTIRDI), a Chinese engineering institute, to jointly raise around $100 million for a fund that invests in hydrogen energy startups. Hyundai Motor and Yield Capital, an investment unit under BTIRDI, will manage Hydrogen Energy Industry Fund, which will support… Continue reading Hyundai, Yield Capital launch $100m hydrogen energy-focused VC

Grab snags $200m funding from US travel firm Booking Holdings

October 29, 2018 Singapore-based ride-hailing major Grab has raised $200 million funding from Booking.com parent company, Booking Holdings, said the startup in an announcement on Monday. As part of the deal, brands under NASDAQ-listed Booking Holdings will soon be offering on-demand transport services through their apps, powered by Grab, and Grab users will be able… Continue reading Grab snags $200m funding from US travel firm Booking Holdings

Chinese EV startup Faraday gets nod to raise up to $500m post arbitration

October 26, 2018 Chinese electric vehicle firm Faraday Future can seek financing from sources other than Evergrande Health, according to an interim ruling by a Hong Kong arbitration court in a dispute between the startup and its main investor. The ruling, however, caps the amount of financing at $500 million and stipulates that any fresh… Continue reading Chinese EV startup Faraday gets nod to raise up to $500m post arbitration