Chinese group Baoneng is on a list of possible buyers of French carmaker PSA Group’s 50% stake in Shenzhen-based Capsa, which builds cars under PSA‘s premium DS brand, a PSA spokesman said on Friday. PSA‘s board will review the planned sale of Capsa on Dec. 6, sources familiar with the situation said. On Thursday, PSA Group said it was preparing to sell its… Continue reading PSA says China’s Baoneng potential buyer for its 50% Capsa stake
Author: Deal Street Asia Online News
India Dealbook: CarDekho buys Carmudi Philippines; FirstCry acquires Oi Playschool
India’s CarDekho has acquired auto marketplace Carmudi Philippines in a bid to expand its service offerings across Southeast Asia while FirstCry has marked its entry into education sector with the acquisition of Oi Playschool. CarDekho acquires Carmudi Philippines Sequoia-backed online auto classifieds portal CarDekho has acquired auto marketplace Carmudi Philippines to expand its service offerings… Continue reading India Dealbook: CarDekho buys Carmudi Philippines; FirstCry acquires Oi Playschool
Indian bike rental startup Bounce raises $150m led by B Capital, Accel
Bengaluru-based bike rental startup Bounce has raised $150 million in its Series D funding led by existing investors B Capital, a global technology fund led by Facebook co-founder Eduardo Saverin, and Accel Partners India. The latest round has spiked the company’s post-money valuation to $500 million, almost double what it attained in Series C round… Continue reading Indian bike rental startup Bounce raises $150m led by B Capital, Accel
Logistics startup BlackBuck nabs $7.8m funding from Trifecta Capital
Online logistics solutions provider BlackBuck has raised about $7.8 million (Rs 56 crore) in a mix of debt and equity funding from venture debt fund Trifecta Capital. According to the company’s filing with the Registrar of Companies (RoC) sourced by paper.vc, Blackbuck’s board has approved issuing 322 Series D compulsorily convertible preference shares (CCPS) and… Continue reading Logistics startup BlackBuck nabs $7.8m funding from Trifecta Capital
Online used car platform Spinny to raise fresh funds at $150m valuation
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
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