The Sony Innovation Fund was set up by Japanese technology giant Sony in June 2019 in partnership with Daiwa Capital Holdings to invest in growth-stage technology companies. Zoomcar plans to deploy the capital for growth, to improve its technology and data science infrastructure, besides upgrading its IoT capability that is currently being used for its… Continue reading Self-drive rental platform Zoomcar raises $30m from Sony fund, others
Author: Deal Street Asia Online News
Asia Digest: Nest Tech VN backs Joosk Studio; SK’s Kakao Mobility launches ride-hailing service in Vietnam
Vietnam-based VC firm Nest Tech VN has led a six-figure equity investment in Myanmar’s leading animation company Joosk Studio. In a separate development, Kakao Mobility, the transportation unit of South Korea’s Kakao Corp, has launched ride-hailing services in Vietnam. Nest Tech VN invests in Joosk Studio Vietnam-based VC firm Nest Tech VN has led a… Continue reading Asia Digest: Nest Tech VN backs Joosk Studio; SK’s Kakao Mobility launches ride-hailing service in Vietnam
IFC mulls $50m loan investment in Vietnamese logistics firm ITL
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Self-driving startup AutoX closes Series pre-B round to expand footprint in China
Autonomous driving startup AutoX has raised tens of millions of U.S. dollars in a Series pre-B round of financing to expand its footprint in the Chinese market, the company confirmed to DealStreetAsia. The development was first reported by 36Kr. The investment was led by a Shenzhen-based investment fund manager, whose name can be directly translated… Continue reading Self-driving startup AutoX closes Series pre-B round to expand footprint in China
Volkswagen said to acquire 20% stake in Chinese battery maker Guoxuan
Volkswagen AG is set to take a 20% stake in Chinese electric vehicle battery maker Guoxuan High-tech Co Ltd, two sources told Reuters, as the German firm accelerates its electric push into the world’s largest auto market. The deal would mark Volkswagen’s first direct ownership in a Chinese battery maker and comes as the Wolfsburg-based… Continue reading Volkswagen said to acquire 20% stake in Chinese battery maker Guoxuan
Indonesian motorcycle platform Moladin raises pre-Series A led by East Ventures
Jakarta-based e-commerce platform for motorcycles Moladin has secured an undisclosed amount of pre-series A funding round led by East Ventures, it said in a statement. CyberAgent Capital and several other angel investors too joined the round. Moladin will deploy the proceeds to add new categories such as car sales and auto mortgage loans and to… Continue reading Indonesian motorcycle platform Moladin raises pre-Series A led by East Ventures
India: CK Birla Group’s NEI buys Slovakian auto parts maker Kinex Bearings
CK Birla group-owned National Engineering Industries Ltd (NEI) on Wednesday announced the acquisition of Slovakia-based automotive bearing manufacturer Kinex Bearings. The Delhi-based automotive component manufacturer didn’t specify the value of the transaction, which was conducted through its wholly-owned subsidiary in Europe. The transaction is in line with NEI’s strategy to augment its product portfolio and… Continue reading India: CK Birla Group’s NEI buys Slovakian auto parts maker Kinex Bearings
India Deal Monitor: Shuttl raises $8m from SIG Global and more updates
Premium Gurugram-based app-based bus aggregator Shuttl has raised about $8 million (Rs 57 crore) in its Series C funding round from SIG Global India Fund LLP. Per the company’s filings with the Registrar of Companies (RoC) sourced by paper.vc, Delaware-based SIG Global Fund has been issued 19,341 Series C compulsorily convertible cumulative preference (CCPS) in… Continue reading India Deal Monitor: Shuttl raises $8m from SIG Global and more updates
Indonesian logistics startup Waresix bags $11m Series A extension from EV Growth, Jungle Ventures
Indonesian logistics startup Waresix has secured $11 million in a Series A extension round from EV Growth and Jungle Ventures. The fresh cash injection came less than six months after Waresix announced its $14.5 million Series A financing led by EV Growth. With this, the startup has raised a total of over $27.1 million to… Continue reading Indonesian logistics startup Waresix bags $11m Series A extension from EV Growth, Jungle Ventures
China Digest: NIO Capital backs BoCloud; SkyGuard raises over $14m
Cloud computing service firm BoCloud has secured 100 million yuan ($14 million) in its Series C round led by NIO Capital while cybersecurity player SkyGuard has also raised over $14 million in its Series B+ round. NIO Capital leads $14m in cloud-based solution provider BoCloud NIO Capital, the investment arm of Chinese electric vehicle startup… Continue reading China Digest: NIO Capital backs BoCloud; SkyGuard raises over $14m