February 7, 2018 China’s Didi Chuxing is teaming up with 12 automakers including the Renault-Nissan-Mitsubishi alliance to build an electric-vehicle-sharing network in the world’s largest auto market. Didi, the dominant ride-hailing company in China, launched its car-sharing platform Wednesday, the Chinese startup said in a statement. China surpassed the U.S. as the top market for… Continue reading China’s Didi Chuxing partners 12 automakers to build EV-sharing network
Author: Deal Street Asia Online News
China Digest: Gay dating app Blued, new energy vehicle firm SKIO secure funding
Chinese technology companies continue to secure funding from venture capital and private equity firms. The latest recipients are gay dating app Blued and new energy vehicle firm SKIO Matrix. Blued secures $100m in Series D Beijing-headquartered Blued, one of the world’s largest social network and dating apps for the LGBT community, has closed its Series… Continue reading China Digest: Gay dating app Blued, new energy vehicle firm SKIO secure funding
APAC Dealbook: Grab-Samsung tech collaboration; Indonesia’s OKHOME raises $300k
Grab has partnered with Samsung to improve services for both drivers and passengers, while on-demand home cleaning service OKHOME has received $300,000 in a seed funding round from South Korean venture capital firms. Grab teams up with Samsung Southeast Asia’s ride-hailing company Grab has signed a multi-year MoU with electronics giant Samsung to collaborate on a wide… Continue reading APAC Dealbook: Grab-Samsung tech collaboration; Indonesia’s OKHOME raises $300k
China Digest: Sequoia Capital backs LeapMotor, FinTell; Kingsoft Cloud raises $200m
January 29, 2018 Chinese startups LeapMotor and FinTell received fresh funds from Sequoia Capital China while Kingsoft Cloud secured $200 million Series D+ from FutureX Capital and Kingsoft Corporation. Sequoia Capital China backs fundraising in LeapMotor, FinTell Hangzhou-based Chinese electric vehicle startup Leapmotor has successfully completed its Pre-A funding round, raising $62 million from Sequoia… Continue reading China Digest: Sequoia Capital backs LeapMotor, FinTell; Kingsoft Cloud raises $200m
Alibaba, Foxconn invest $350m in Chinese electric car startup Xiaopeng
January 29, 2018 Chinese e-commerce giant Alibaba Group Holding Ltd. and Foxconn Technology Group led a new fundraising round by electric carmaker Xiaopeng Motors, investing 2.2 billion yuan ($350 million) in the startup as a push toward battery-powered vehicles intensifies. The latest funding puts the total investment in Xiaopeng at 5 billion yuan, according to… Continue reading Alibaba, Foxconn invest $350m in Chinese electric car startup Xiaopeng
Mobike said to have raised $1b after failed merger talks with rival Ofo
January 25, 2018 Bike-sharing startup Mobike has stuffed its coffers with additional funds that it can use to further gain control of the booming bike-sharing sector, after talks of a merger with key rival Ofo were abandoned. A Caixin Global report said the dockless Shanghai-headquartered bike-sharing company secured close to $1 billion in its latest… Continue reading Mobike said to have raised $1b after failed merger talks with rival Ofo
India: CarTrade acquires majority stake in Shriram Automall for $24.5m
January 24, 2018 Online automobile classified platform CarTrade, operated by MXC Solution Private Ltd, is acquiring a majority stake in Shriram Automall India Ltd (SAMIL) for nearly $24.5 million to create India’s largest used vehicle platform. CarTrade will acquire shares in SAMIL from Shriram Transport Finance Company Limited (STFC), the latter said in a BSE… Continue reading India: CarTrade acquires majority stake in Shriram Automall for $24.5m
Car classifieds startup Carmudi secures $10m to expand SE Asia ops
January 23, 2018 Carmudi, a Rocket Internet-backed online car classifieds startup, has recently secured about $10 million in funding from a range of investors, including Tengelmann Ventures, according to an Inquirer report on Tuesday. The latest financing round will be used to grow existing listings and to build new technology, with the bulk of the… Continue reading Car classifieds startup Carmudi secures $10m to expand SE Asia ops
APAC Digest: Dely, BeliMobilGue.co.id and GTRIIP raise funding
January 23, 2018 In multiple investments in the region, Tokyo-based culinary media firm Dely has raised $30.25 million in venture funding while Indonesian user car marketplace BeliMobilGue.co.id has secured a $3.7 million pre-Series A. Meanwhile, AI & biometrics software startup GTRIIP has secured a seven-figure sum Series A funding round. Dely closes $30.25m venture round Japanese startup Dely, which… Continue reading APAC Digest: Dely, BeliMobilGue.co.id and GTRIIP raise funding
China’s Leshi seeks equity stakes in shareholder Jia Yueting’s car businesses
January 23, 2018 China’s Leshi Internet Information & Technology said on Tuesday it is seeking equity stakes in the car businesses of its largest shareholder Jia Yueting for the debts they owe. Leshi told an investor briefing it was trying to resolve debt owed by Jia and his companies by seeking equity stakes in his… Continue reading China’s Leshi seeks equity stakes in shareholder Jia Yueting’s car businesses