Author: Deal Street Asia Online News

India’s TVS in talks to buy British motorcycle brand Norton

The 122-year-old Norton Motorcycles ran out of cash in January and failed to pay taxes. Norton’s last owner, Stuart Garner, with business interests in real estate and hospitality, had acquired the legacy brand in 2008. “Norton is in the liquidation stage currently and the administration in the UK plans to sell off the brand, its… Continue reading India’s TVS in talks to buy British motorcycle brand Norton

SE Asian logistics startup Inteluck raises over $5m from MindWorks, Lalamove

Southeast Asian third-party logistics player Inteluck has raised $5 million in a pre-Series B round of financing led by Hong Kong-based venture capital firm MindWorks Capital, according to a company statement on Tuesday. Other investors in the round included on-demand logistics provider Lalamove and return backer Infinity Venture Partners. The deal marks the first strategic… Continue reading SE Asian logistics startup Inteluck raises over $5m from MindWorks, Lalamove

Alibaba to buy at least 10% stake in Chinese courier Yunda

Alibaba Group Holding Ltd plans to buy at least 10% of Yunda Holding Co Ltd, marking the e-commerce giant’s fifth investment in a large courier, two people with knowledge of the matter told Reuters. Alibaba is looking to buy the stake from Yunda’s controlling shareholders – founding couple Nie Tengyun and Chen Liying – who… Continue reading Alibaba to buy at least 10% stake in Chinese courier Yunda

China’s BAIC, Didi plan car leasing service amid sales slowdown

Chinese automaker BAIC Group and ride-hailing service provider Didi Chuxing plan to team up with other industry players to lease BAIC’s cars to customers amid concerns about ride hailing and vehicle sharing eating into car sales. The companies, which have a joint venture to develop “next-generation connected-car systems”, will partner with electric vehicle (EV) battery… Continue reading China’s BAIC, Didi plan car leasing service amid sales slowdown

Indonesia’s Kargo Technologies bags investment from Coca Cola’s VC arm Amatil X

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 Indonesia’s Kargo Technologies bags investment from Coca Cola’s VC arm Amatil X

China Digest: Self-driving firm Neolix raises $29m; VDN Cloud closes $14m

Neolix Technologies, a startup that delivers level 4 autonomous driving vehicles, has received nearly 200 million yuan ($29 million) in a Series A+ round, while edge computing-based cloud service provider VDN Cloud has closed almost 100 million yuan ($14 million) in a Series A+ round. CHJ leads $29m Series A+ round in self-driving startup Neolix… Continue reading China Digest: Self-driving firm Neolix raises $29m; VDN Cloud closes $14m

Mahindra Comviva divests stake in TerraPay to IFC, Prime Ventures, Partech

Mobility solutions provider Mahindra Comviva, a subsidiary of Tech Mahindra Ltd, Tuesday announced that it has divested its stake in mobile payments switch TerraPay to a consortium of global investors for an undisclosed amount. TerraPay was incubated by Comviva in 2015. “Prime Ventures and Partech Partners are co-investing in TerraPay, along with International Finance Corporation… Continue reading Mahindra Comviva divests stake in TerraPay to IFC, Prime Ventures, Partech

Tata Motors to exit car retail business Concorde Motors

Tata Motors Ltd (TML) is gradually exiting its passenger car retail business–Concorde Motors India Ltd–as part of its strategy to pare costs by moving out of non-core assets and businesses to navigate through the economic downturn in the country. Concorde Motors, which has been a 100% subsidiary of Tata Motors since 3 July, 1999, reported… Continue reading Tata Motors to exit car retail business Concorde Motors

Bus ticketing firm redBus forays into car, bike pooling segment in Delhi

rPool, a shared mobility service, will cater only to office goers in Delhi to avail and offer rides in their personal cars and bikes, while commuting between home and their workplace. The service can be accessed suing the redBus mobile app. Last year, the company had launched such services in Bengaluru, Hyderabad and Pune. “It… Continue reading Bus ticketing firm redBus forays into car, bike pooling segment in Delhi