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
Author: Deal Street Asia Online News
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
Fresh from Series A round, Singapore’s Neuron Mobility forays into NZ
Singapore-based e-scooter startup Neuron Mobility has launched its distinctive orange e-scooters in Auckland, marking its foray into New Zealand, barely a month after raising its Series A round. Neuron Mobility raised $18.5 million in Series A funding from GSR Ventures, Square Peg Capital and other investors in December 2019. Existing investors SeedPlus and SEEDS Capital… Continue reading Fresh from Series A round, Singapore’s Neuron Mobility forays into NZ
Bounce raises $97m funding led by B Capital, gets valued at $450m
App-based two-wheeler rental startup Bounce, run by Wickedride Adventure Services Pvt. Ltd, has raised ₹692.39 crore ($97 million) in a Series D round led by Facebook co-founder Eduardo Saverin’s venture capital fund B Capital, according to documents sourced from business intelligence platform Paper.vc. Its existing investors, including Sequoia Capital, Accel Partners India and Chiratae Partners,… Continue reading Bounce raises $97m funding led by B Capital, gets valued at $450m
Bosch, Lightspeed China lead $173m funding in 3D-sensor firm Hesai
China’s 3D-sensors (LiDAR) provider Hesai Technology on Tuesday announced that it has secured a total of $173 million in its Series C round of financing jointly led by German’s global leading supplier of technology and services Bosch Group, and existing investor Lightspeed China Partners. ON Semiconductor, Qiming Venture Partners, Detong Capital and Axiom Asia Private… Continue reading Bosch, Lightspeed China lead $173m funding in 3D-sensor firm Hesai
China’s NIO Capital raises over $200m for debut USD fund
NIO Capital, the investment arm of Chinese electric vehicle startup Nio Inc, has closed its debut USD-denominated fund at over $200 million to support early and middle-stage companies in the automobile, energy and logistics fields. The new fund, dubbed “Eve ONE L.P.,” attracted capital injections from sovereign wealth funds, funds of funds (FOFs), multinational… Continue reading China’s NIO Capital raises over $200m for debut USD fund
Car services startup GoMechanic snags funding from Chiratae, Sequoia
Gurugram-based vehicle service and repair startup GoMechanic has raised ₹105 crore in a Series-B funding led by Chiratae Ventures and Sequoia Capital with Orios Venture Partners also participating in the fundraise. GoMechanic’s current investors include Sequoia Capital, Orios Ventures Partners, Snapdeal founders Kunal Bahl and Rohit Bansal, and angel investor Dhianu Das. It had raised… Continue reading Car services startup GoMechanic snags funding from Chiratae, Sequoia
India Dealbook: Koito to buy partner in lighting JV; PeopleStrong acquires Qilo
Japan’s Koito Manufacturing Co Ltd is acquiring 29.9 per cent stake from its partner Lucas-TVS group in India Japan Lighting Pvt Ltd (IJL) for Rs 148.5 crore. In another development, PeopleStrong announced that it has acquired SaaS performance management company Qilo. Koito to buy partner’s stake in lighting JV Japanese automotive lighting equipment maker Koito… Continue reading India Dealbook: Koito to buy partner in lighting JV; PeopleStrong acquires Qilo