Online used car retailer Spinny is closing a $50 million funding round with three new investors coming into an oversubscribed round, despite a wide-ranging automobile sales slump in India. The new investors include growth equity firm Norwest Venture Partners, US venture fund General Catalyst, and Fundamentum, a fund set up by Nandan Nilekaniand former Helion… Continue reading Online used car platform Spinny to raise fresh funds at $150m valuation
Author: Deal Street Asia Online News
Indian ride-hailing firm Ola begins signing up drivers in London
One day after Uber Technologies Inc.’s future in London was cast in doubt, rival Ola said it had started signing up drivers in London on Tuesday and will start service in the city within weeks. Ola had been expected to begin its London business before the end of the year, but the company now expects… Continue reading Indian ride-hailing firm Ola begins signing up drivers in London
Chinese new energy startup Neng Lian Tech raises $110m in Series C round
China’s new energy startup Neng Lian Technology has secured 774 million yuan ($110 million) in a Series C round of financing led by Joy Capital and backed by NIO Capital and Korea Investment Partners (KIP), per a company announcement. The financing comes about three months after it gathered 450 million yuan ($64 million) in a… Continue reading Chinese new energy startup Neng Lian Tech raises $110m in Series C round
Indian: Bajaj Auto invests $8m in e-bike rental startup Yulu
Indian motorcycle maker Bajaj Auto Ltd (BAL) Tuesday said it is investing $8 million in Bengaluru-based bicycle and electric scooter rental startup Yulu. Per the investment terms, Yulu will source electric two-wheelers from Bajaj. The vehicles will be co-designed and manufactured exclusively for shared micro-mobility. Besides, Bajaj will also consider facilitating the vehicle finance needs… Continue reading Indian: Bajaj Auto invests $8m in e-bike rental startup Yulu
Airtel acquihires Gurugram-based logistics platform Quikmile
Bharti Airtel on Monday said that it has acqui-hired Gurgaon-based start-up Quikmile, which focuses on building tech-enabled logistics platforms for India. The telecom major said that Quikmile’s team will now be a part of Airtel X Labs (Airtel’s digital innovation lab), which focuses on Internet of Things, Digital Engineering, Artificial Intelligence, and Machine Learning. Airtel… Continue reading Airtel acquihires Gurugram-based logistics platform Quikmile
Indian bus aggregator Shuttl raises $18m in Series C round
App-based bus aggregator Shuttl on Monday raised $18 million from SPARX Group (through its Mirai Creation Fund II) and Toyota Tsusho Corporation, as part of its Series C round of funding. Shuttl, which has been on an expansion spree from the past several months, had recently announced the launch of its technology centre in Bengaluru along with… Continue reading Indian bus aggregator Shuttl raises $18m in Series C round
China’s BAIC said to be willing to increase Daimler stake
Daimler’s main Chinese joint venture partner BAIC Group has signalled its intention to increase its stake in the German luxury car manufacturer, sources briefed on the matter said, after it built up a 5% Daimler stake in July. Officials at BAIC‘s listed company BAIC Motor Corp Ltd said at investor conferences in mid-October that “both sides are willing to increase… Continue reading China’s BAIC said to be willing to increase Daimler stake
Grab announces ride-hailing partnerships in Japan, Middle East
Grab users in Singapore, Malaysia, and the Philippines will be able to book rides using the Grab app while visiting Japan and 13 countries in the Middle East, the Southeast Asian ride-hailing unicorn announced Monday. In a statement, Grab said it has partnered with JapanTaxi in Japan and Careem in the Middle East to provide… Continue reading Grab announces ride-hailing partnerships in Japan, Middle East
Hyundai wins bid for stake in Asiana Airlines, to inject over $1.7b
South Korean builder Hyundai Development Co said on Tuesday its consortium has been picked as the preferred bidder for a controlling stake in Asiana Airlines and would inject over $1.7 billion into the debt-ridden carrier. The deal would draw a line under a tumultuous period for the country’s No.2 carrier which is saddled with 9.6… Continue reading Hyundai wins bid for stake in Asiana Airlines, to inject over $1.7b
Beyond Ventures leads $3m investment in HK-based indoor mapping platform Mapxus
Hong Kong-based venture capital firm Beyond Ventures on Tuesday announced that it has led a $3 million investment in Mapxus, an indoor mapping service provider. Mapxus solutions produce digital and panoramic indoor maps to facilitate a cross-platform indoor-positioning capability. The startup will invest the fresh capital in research and development (R&D), sales, marketing and operational… Continue reading Beyond Ventures leads $3m investment in HK-based indoor mapping platform Mapxus