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
Author: Deal Street Asia Online News
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
Chinese ride-hailing giant Didi Chuxing rakes in $500m for autonomous driving unit
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
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