Author: Deal Street Asia Online News

Indian actor Deepika Padukone’s family office invests in e-taxi startup Blu Smart

Actor Deepika Padukone’s family office has invested in Blu Smart- an electric taxi startup, as part of an angel round of $3 million, the startup said on Monday. While Padukone has invested via Ka Enterprises, other investors include JITO Angel Network, Bajaj Capital managing director Sanjiv Bajaj and Rajat Gupta, the now-disgraced former managing director… Continue reading Indian actor Deepika Padukone’s family office invests in e-taxi startup Blu Smart

Indonesian logistics startup Shipper raises $5m seed funding from Y Combinator, others

Indonesian logistics startup Shipper has secured a $5-million seed funding round from Y Combinator, Lightspeed Venture Partners, Floodgate, Insignia Ventures Partners, and Convergence Ventures, according to a TechCrunch report. The fresh capital will be used for hiring and customer acquisition, the report said. Shipper works by picking up a package and helping customers find the… Continue reading Indonesian logistics startup Shipper raises $5m seed funding from Y Combinator, others

ASX-listed iCar Asia acquires classifieds platform Carmudi Indonesia for $3m

ASX-listed automotive marketplace iCar Asia is acquiring the operations of rival Carmudi Indonesia for $3 million, according to an announcement. The deal, which is expected to be completed on 15 Oct 2019, will be paid from cash reserves in two parts – a payment of $2 million will be doled out on completion and another… Continue reading ASX-listed iCar Asia acquires classifieds platform Carmudi Indonesia for $3m

SG’s Carro enters Malaysia with $30m investment in myTukar

Carro, a Singapore-based automotive marketplace backed by SoftBank Ventures Asia, EDBI and B Capital Group, has forayed into Malaysia with a $30-million investment in myTukar, a local car bidding platform. The company said this is the first of two planned acquisitions in Malaysia, the home market of competitor Carsome. Carro had in August announced the… Continue reading SG’s Carro enters Malaysia with $30m investment in myTukar

Self-driving startup AutoX snags $100m led by Chinese state-owned Dongfeng Motor

AutoX, an autonomous driving firm dual-headquartered in Hong Kong and California, has closed a $100 million Series A round led by Chinese state-owned Dongfeng Motor, which will help the startup build its fleet and expand the technical team. Dongfeng Motor injected tens of millions of US dollars in the investment. Silicon Valley-based incubator Plug and… Continue reading Self-driving startup AutoX snags $100m led by Chinese state-owned Dongfeng Motor

Tencent bids for Chinese car comparison site Bitauto

Tencent Holdings Ltd and private equity partner Hammer Capital have offered $16 per share to buy out the other shareholders in Chinese car comparison website Bitauto Holdings Ltd, valuing the company at just under $1.2 billion. The offer from the Chinese e-commerce giant came at a premium of 16.4% to Bitauto’s Thursday close and is… Continue reading Tencent bids for Chinese car comparison site Bitauto

Chinese startup Full Truck Alliance breaks even en route to IPO

China’s Uber-for-trucks startup Full Truck Alliance said it’s weighing an initial public offering after breaking even from May, defying a sector-wide downturn. The company, which is backed by SoftBank Group Corp. and Tencent Holdings Ltd., said its improved financial performance dovetailed with its decision not to follow through on a plan to raise as much as $1… Continue reading Chinese startup Full Truck Alliance breaks even en route to IPO

Hedge fund Steadview in talks to lead $50m round in 2-wheeler rental startup Vogo

Hedge fund Steadview Capital is in talks to lead a $50 million funding round in two-wheeler rental startup Vogo, said two people aware of the matter. Existing investors such as venture capital firms Matrix Partners, Stellaris Venture Partners and Kalaari Capital are also expected to participate in the round, said the people cited above, who requested anonymity as the talks… Continue reading Hedge fund Steadview in talks to lead $50m round in 2-wheeler rental startup Vogo

China’s search engine giant Baidu to invest $202m in AI firm Neusoft

A man using a laptop computer walks past an illuminated sign for Baidu Inc. at the Baidu Technology Park in Beijing, China, on Friday, Nov. 25, 2016. Photographer: Bloomberg/Bloomberg China’s search engine giant Baidu said on Tuesday it will invest 1.44 billion yuan (164.03 million pounds) in artificial intelligence firm Neusoft Holdings, with a view… Continue reading China’s search engine giant Baidu to invest $202m in AI firm Neusoft