Singapore-based bike-sharing startup SG Bike has inked a $1.85-million (S$2.54 million) deal to acquire Chinese startup Mobike’s license to operate 25,000 shared bikes in the city-state, according to a stock exchange disclosure last week. The SGX announcement was made by Singapore-based urban planning and civil engineering company ISOTeam, which owns 51 per cent of SG… Continue reading SG Bike to buy Mobike’s Singapore licence for $1.85m
Author: Deal Street Asia Online News
Bounce nears closing $200m round led Accel, B Capital, others: Report
Indian bike rental startup Bounce is close to finalising a $200-million funding round from existing and new investors, TechCircle reported. Existing investors Accel US and B Capital Group, a global technology fund led by Facebook co-founder Eduardo Saverin, are expected to contribute a large chunk of the amount while a US-based venture capital firm may… Continue reading Bounce nears closing $200m round led Accel, B Capital, others: Report
SoftBank co-leads $17.6m investment in Brazilian used car platform Volanty
Brazil’s digital used car portal Volanty has received an infusion of 70 million reais ($17.6 million) from venture capital funds led by Japan’s SoftBank and Kaszek of Argentina. The funds, which were also joined by Monashees Capital+ and Canary, are betting on a fast-growing market for second-hand cars that has a turnover of 400 billion… Continue reading SoftBank co-leads $17.6m investment in Brazilian used car platform Volanty
Asia Digest: PH’s VESL wins ‘She Loves Tech’ competition; Baidu to deploy robo-taxis in China
Manila-based fintech trade finance startup VESL has won the ‘She Loves Tech’ competition that is the world’s largest startup platform for women and technology. In a separate development, tech giant Baidu and car maker Hongqi are working together to deploy as many as 10 robo-taxis in Changsa in China. Manila’s VESL wins ‘She Loves Tech’… Continue reading Asia Digest: PH’s VESL wins ‘She Loves Tech’ competition; Baidu to deploy robo-taxis in China
Vietnam’s ride-hailing firm Be Group launches delivery services to take on Grab, Go-Viet
Vietnam’s ride-hailing firm Be Group is set to expand its operations and ramp up its technological ecosystem with the launch two delivery services, beExpress for its business customers and beDelivery for individuals, per an announcement. beExpress is a delivery and postal service that’s primarily aimed at e-commerce enterprises. It currently runs in partnership with Lazada… Continue reading Vietnam’s ride-hailing firm Be Group launches delivery services to take on Grab, Go-Viet
Ride-hailing giant Uber partners Sun Mobilty to deploy e-autos in India
Chetan Maini-led Sun Mobilty and ride hailing application Uber Technologies on Wednesday announced their partnership to deploy electric three-wheelers across select cities in India. As part of the arrangement, Sun Mobility will offer its energy infrastructure platform, which includes swappable smart batteries and quick interchange stations to select original equipment manufacturers (OEMs) for building electric… Continue reading Ride-hailing giant Uber partners Sun Mobilty to deploy e-autos in India
Alibaba, Tencent-backed ride-hailing app T3 Chuxing goes live in China
A new competitor in the ride-hailing market has emerged to challenge the pole position held by long-time player Didi Chuxing – T3 Chuxing. T3 Chuxing was unveiled by its operator Nanjing Lingxing Technology Company Limited in Nanjing on Monday, according to a statement by the startup. Its mobile app went online on July 17 and… Continue reading Alibaba, Tencent-backed ride-hailing app T3 Chuxing goes live in China
Japan’s Mitsui invests $14m in electric mobility service firm SmartE
Treasure Vase Ventures Pvt. Ltd, the parent of SmartE, one of India’s largest electric mobility service provider, has raised ₹100 crore in series B funding from Japan’s Mitsui and Co. Delhi-based SmartE, which operates a fleet of more than 1,000 electric rickshaws in Delhi NCR, will use the funds to expand into new markets. Goldie… Continue reading Japan’s Mitsui invests $14m in electric mobility service firm SmartE
India Digest: Cars24 sued over pending dues; BAC Acquisitions eyes Essel MF
Cars24, an online marketplace for buying and selling used cars, has been slapped with legal notices over non-payment of dues. In another development, BAC Acquisitions (BACQ) is in talks with Essel group to buy its mutual fund business. Cars24 faces legal action over non-payment of dues Gurugram-based Cars24, an online marketplace for buying and selling… Continue reading India Digest: Cars24 sued over pending dues; BAC Acquisitions eyes Essel MF
Japan’s Kansai Paint, others, in talks to buy stake in US car-paint maker
Axalta Coating Systems Ltd., the car-paint maker exploring a sale, has drawn preliminary interest from rival companies, according to people familiar with the matter. Kansai Paint Co. Ltd. and PPG Industries Inc. are among firms considering making offers, said the people, who asked to not be identified because the matter isn’t public. The Philadelphia-based company is in… Continue reading Japan’s Kansai Paint, others, in talks to buy stake in US car-paint maker