Author: Deal Street Asia Online News

India unveils InvIT road map for national highways

NHAI’s InvIT offer, expected in the months ahead, is part of the government’s plans to tap alternative sources of financing to boost public spending in the roads and infrastructure sector amid declining private sector interest in the build, operate and transfer model, where the entire initial cost is borne by them. In addition to the… Continue reading India unveils InvIT road map for national highways

US-based electric scooter startup Bird extends latest funding round by $75m

Electric scooter startup Bird said on Monday it had raised an additional $75 million in its Series D funding round, bringing the total to $350 million. The California-based company also said it would acquire European peer Circ, without disclosing financial details of the deal. Bird in October raised $275 million in the Series D funding round led by Canadian pension fund CDPQ and Sequoia… Continue reading US-based electric scooter startup Bird extends latest funding round by $75m

Indian parking app Park+ raises $11m led by Sequoia, Matrix Partners

Park+, a startup focused on digitising parking across India, has raised $11 million in a funding round co-led by venture capital firms Sequoia Capital and Matrix Partners India, per an announcement. The funding round also saw participation from MakeMyTrip founder Deep Kalra and cofounder Rajesh Magow, BookMyShow founder and CEO Ashish Hemrajani, CRED founder Kunal… Continue reading Indian parking app Park+ raises $11m led by Sequoia, Matrix Partners

Chinese automaker BYD plans to inject $51m into BYD-Daimler EV JV

Chinese automobile manufacturer BYD announced on Wednesday that it has agreed to inject 350 million yuan ($51 million) in cash into Denza, an equally owned joint venture between BYD and Germany’s Daimler AG that specialises in luxury electric vehicles. Shenzhen-based BYD, which is backed by U.S. billionaire Warren Buffet, is making the investment through its… Continue reading Chinese automaker BYD plans to inject $51m into BYD-Daimler EV JV

Self-drive rental platform Zoomcar raises $30m from Sony fund, others

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

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

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