June 4, 2018 Chinese automaker Protean Electric has closed a $40 million equity investment in its series E funding round led by Shenzhen-listed Weifu High-Technology Group and existing investor Oak Investment Partners. According to a press release, the funding will be utilised to support Protean’s ongoing business activities and to help establish a global licensing… Continue reading China’s automaker Protean Electric closes $40m Series E round
Author: Deal Street Asia Online News
Ant Financial backs $321m round in Hellobike as another Chinese unicorn emerges
June 4, 2018 China’s bike-sharing firm Hellobike has raised RMB2.06 billion ($321 million) in its latest funding round from Alibaba Holding Ltd’s Ant Financial, giving the startup a valuation of $1.47 billion, creating yet unicorn in China. According to a security filing by Hellobike-owner Youon Bike, Ant Financial is now the largest shareholder with a… Continue reading Ant Financial backs $321m round in Hellobike as another Chinese unicorn emerges
Scooter sharing startup Bird said to be valued at $1b in Sequoia-led round
May 30, 2018 Bird, an electric scooter-sharing startup, is raising $150 million in a funding round led by Sequoia Capital that will value the company at $1 billion, people familiar with the matter said. This is the first batch of money in this new round, and the company plans to raise more, said one of… Continue reading Scooter sharing startup Bird said to be valued at $1b in Sequoia-led round
China’s Ningbo Jifeng Auto in talks to buy German partner Grammer in $872m deal
May 29, 2018 Ningbo Jifeng Auto Parts Co. affiliates are in talks to buy out partner Grammer AG in a possible deal that could value the German maker of vehicle seats at about 750 million euros ($872 million). The German company said in a stock exchange statement Tuesday that it had received an indicative proposal… Continue reading China’s Ningbo Jifeng Auto in talks to buy German partner Grammer in $872m deal
OLX Group injects $89m into auto marketplace Frontier Car Group
May 24, 2018 Global online classified platform OLX Group has announced an investment of $89 million, through its early-stage investment arm OLX Ventures, in the C series funding round of online car marketplace Frontier Car Group (FCG), which has presence in six countries including Indonesia and Pakistan. FCG operates brands BeliMobilGue in Indonesia and CarFirst… Continue reading OLX Group injects $89m into auto marketplace Frontier Car Group
New Renault-Nissan-Mitsubishi VC fund invests first $50m in car tech startups
May 22, 2018 The Renault-Nissan-Mitsubishi alliance’s new venture capital fund has agreed five investments in four months totaling $50 million and will present another to its supervisory board next week, the fund’s head said. The alliance said in January it was setting up the fund with plans to invest as much as $1 billion over… Continue reading New Renault-Nissan-Mitsubishi VC fund invests first $50m in car tech startups
Chinese self-driving tech startup Roadstar.ai raises industry record funding of $128m
May 16, 2018 Roadstar.ai, a Shenzhen-based AI-powered self-driving technology startup founded by former Google and Tesla engineers, announced that it has raised $128 million in Series A funding round, the biggest-ever investment made into a Chinese startup in the country’s autonomous driving industry. In a statement posted on its website, Roadstar.ai said the latest funding… Continue reading Chinese self-driving tech startup Roadstar.ai raises industry record funding of $128m
Asia Digest: Baidu joins Vesper round; Hyundai CRADLE invests in Metawave
May 16, 2018 Asian investors have backed US-based startups with Baidu joining in advanced sensor developer Vesper’s Series B funding and car-maker Hyundai Motor’s corporate venture arm Hyundai CRADLE investing in Metawave Coporation. Baidu joins Vesper’s $23m Series B Boston-based advanced piezoelectric sensors developer Vesper has raised a $23 million Series B funding, led by… Continue reading Asia Digest: Baidu joins Vesper round; Hyundai CRADLE invests in Metawave
China’s FAW to invest $260m in EV startup Byton’s Series B round
May 15, 2018 Chinese state-owned carmaker FAW Group has agreed to invest around $260 million in China-backed electric car start-up Byton as part of an ongoing series-B funding round, two people with knowledge of the matter told Reuters on Tuesday. The deal was signed over the weekend in Nanjing where Byton is building its headquarters and production… Continue reading China’s FAW to invest $260m in EV startup Byton’s Series B round
Singapore: Transport management startup VersaFleet secures $2.1m funding
May 14, 2018 Singapore-based transport management startup VersaFleet is set to expand its presence across Asia and boost its artificial intelligence (AI) capabilities after securing S$2.8 million ($2.1 million) in a pre-Series A round led by Prestellar Ventures. VersaFleet’s system automates logistics operations and allocates drivers’ route plans more efficiently, saving both time and money,… Continue reading Singapore: Transport management startup VersaFleet secures $2.1m funding