The round is expected to be led by Swiss investor LGT, through its impact investment platform Lightstone Aspada, the people said. Founded by Pranav Goel and Uttam Digga in 2014, Porter is known as the ‘Uber for trucks’. The platform operates as a marketplace, wherein one can order mini trucks for intra-city handling from registered… Continue reading Indian logistics startup Porter in talks to raise $30m at $120m valuation
Author: Deal Street Asia Online News
Car-sharing startup SOCAR raises $18m from Eugene PE, KH Energy
Car-sharing platform SOCAR announced that it has raised $18 million in a Series A funding round from South Korean investors Eugene Private Equity and KH Energy, according to a report by e27. SOCAR is headquartered in South Korea, but currently operates primarily in Malaysia. The company is expected to use the fresh funding to expand… Continue reading Car-sharing startup SOCAR raises $18m from Eugene PE, KH Energy
Ion Electric in talks to raise $3m from Monk’s Hill Ventures
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 Ion Electric in talks to raise $3m from Monk’s Hill Ventures
SoftBank mulls investment in India’s Mahindra Electric Mobility
Mahindra Electric Mobility Ltd, the wholly owned subsidiary of Mahindra & Mahindra Ltd (M&M), is in talks with Japan’s Softbank and several other potential investors, including original equipment manufacturers (OEMs), for strategic investment in the automaker. According to a report in the Business Standard, Softbank may pick up a minority stake in Mahindra Electric. The… Continue reading SoftBank mulls investment in India’s Mahindra Electric Mobility
NIO’s $100m fundraise falls short for cash-needy Chinese carmaker
Shares of NIO Inc. slumped after the electric-vehicle maker announced it’s issuing convertible notes that it expects to raise $100 million, a sum that won’t be sufficient to address its cash needs. The Chinese carmaker will sell $70 million of notes to one unidentified Asian investment fund through a private placement that should close around… Continue reading NIO’s $100m fundraise falls short for cash-needy Chinese carmaker
Asia Digest: Moovby raises $500k; SSTL launches to shape SG’s space frontier
Malaysia’s first peer-to-peer (P2P) car-sharing platform Moovby announced that it has secured $500,000 from angel investors and strategic partners. In a separate development, Singapore Space and Technology Limited (SSTL) has officially been launched to develop the country’s space and related high technology industries. Malaysia’s P2P car-sharing platform Moovby raises $500k Malaysia’s first peer-to-peer (P2P) car-sharing… Continue reading Asia Digest: Moovby raises $500k; SSTL launches to shape SG’s space frontier
After bumpy SE Asia ride, e-scooter startup Neuron Mobility chases growth in Australia, NZ
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 After bumpy SE Asia ride, e-scooter startup Neuron Mobility chases growth in Australia, NZ
Japan’s Nidec set to focus on electric vehicle powertrains to treble sales
Japan’s Nidec Corp plans to more than treble its revenue over the next five years by focusing on electric vehicle powertrains and buying specialists in motor technologies, two people familiar with the matter told Reuters. The world’s leading maker of precision motors which supplies parts for Apple’s iPhones is expected to detail its plans as soon as Tuesday when it will… Continue reading Japan’s Nidec set to focus on electric vehicle powertrains to treble sales
Japan’s TDK Ventures invests in air mobility firm AutoFlightX
TDK Ventures, the corporate venture arm of Japanese electronics firm TDK Corporation, has invested an undisclosed amount in AutoFlightX, an electric air mobility company headquartered in Munich, Germany and with R&D centres in Shanghai and Shenzhen. AutoFlightX, which started in February 2018, is involved in the development, production, sales, and operation of electric vertical take-off… Continue reading Japan’s TDK Ventures invests in air mobility firm AutoFlightX
MNC Group-affiliate IATA to acquire majority stake in ride-hailer Anterin
Publicly-listed Indonesia Transport & Infrastructure (IATA) is planning to acquire a majority stake in homegrown ride-hailing company Anterin for an unspecified amount, the former announced on Wednesday. In a filing to the Indonesia Stock Exchange, IATA, which is affiliated with local media conglomerate MNC, said it has signed a binding term sheet to acquire Anterin… Continue reading MNC Group-affiliate IATA to acquire majority stake in ride-hailer Anterin