Author: Deal Street Asia Online News

Didi, Hellobike refill war chest as competition in mobility sector heats up

Chinese ride-hailing giant Didi Chuxing is reportedly raising $2 billion from investors while bike-sharing firm Hellobike secured $400 million in an Ant Financial-led funding round as part of efforts to beef up their war chest as competition in the sector escalates. According to a report by The Wall Street Journal, Beijing-based Didi plans to sell… Continue reading Didi, Hellobike refill war chest as competition in mobility sector heats up

Drivezy crosses $4m in monthly GMV, launches franchise business

Bengaluru-based car and bike hire company Drivezy India Travels Pvt. Ltd has crossed monthly gross merchandise volume (GMV) of $4 million (about ₹27 crore), according to a top company executive. The company’s fleet comprises 15,000 bikes and 4,000 cars. “We net around 22% of the $4-million monthly GMV,” said Drivezy’s chief executive Ashwarya Singh over… Continue reading Drivezy crosses $4m in monthly GMV, launches franchise business

Indonesia Digest: GOJEK introduces insurance feature; Blibli launches streaming app

GOJEK has introduced a new insurance platform dubbed Go-Sure while e-commerce site Blibli has launched a live streaming app. GOJEK introduces insurance feature Go-Sure  Ride-hailing unicorn GOJEK has introduced a new insurance feature, Go-Sure, in partnership with insurance technology startup PasarPolis. Go-Sure feature is still in Beta stage and is not yet available to all… Continue reading Indonesia Digest: GOJEK introduces insurance feature; Blibli launches streaming app

AU’s Carbar raises $16.8m from IAG, private investors to grow car subscriptions

Australian car subscription platform Carbar raised $16.8 million from IAG, the country’s largest general insurer, and private investors. Founded in 2016, Carbar is Australia’s first car subscription platform, catering to customers seeking alternative modes of vehicle ownership. The deal saw IAG taking a majority stake in the company. According to a statement, Carbar plans to… Continue reading AU’s Carbar raises $16.8m from IAG, private investors to grow car subscriptions

Yandex, Uber JV to buy Vezet’s Russian assets in expansion push

Russian internet company Yandex NV said on Monday its ride-sharing and food delivery joint venture with Uber had agreed to buy intellectual property and local call centres from Vezet group as it plans further expansion in the country. Yandex and Uber Technologies Inc combined their taxi businesses across Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan in 2017… Continue reading Yandex, Uber JV to buy Vezet’s Russian assets in expansion push

China’s Didi Chuxing to open its app to third-party ride-hailing firms

China’s biggest ride-hailing company Didi Chuxing will allow users of its smartphone app to access services provided by apps of three domestic auto firms and others, in a push to generate more orders. Didi said in a statement on Monday it has opened its ride-hailing platform to third parties including those of FAW Group, Dongfeng Motor and Guangzhou… Continue reading China’s Didi Chuxing to open its app to third-party ride-hailing firms

Apple vendor Japan Display secures bailout after funding shortfall

Japan Display Inc said on Friday that a group led by Chinese investment firm Harvest Group had formally secured additional funding for a previously announced 80 billion yen ($738 million) bailout plan for the screen maker. Harvest would increase its investment, included a $100 million investment from a JDI customer, Japan Display said. A source… Continue reading Apple vendor Japan Display secures bailout after funding shortfall

GOJEK set to spruce up financial services, food delivery in Thailand

Indonesian ride-hailing app Go–Jek will offer more financial services and expand its Thai food delivery business following an investment from Thailand‘s top lender, an executive said on Thursday. Siam Commercial Bank Pcl said it made a “significant investment” in Go–Jek‘s Series F funding round. The company raised around $1 billion earlier this year. It is valued at up to $10 billion, according to sources.… Continue reading GOJEK set to spruce up financial services, food delivery in Thailand

India: Cycle sharing platform Yulu in talks to raise funds from Xiaomi arm, Shunwei, others

Bengaluru-based cycle sharing platform Yulu, which offers electric cycles and bicycles on hire for last-mile commute, is in advanced talks to raise a Series A round of ₹100 crore ($15 million) from Chinese investors, including Shunwei Capital, Xiaomi’s venture capital arm, and ex-InMobi chief business officer Atul Satija, according to three people aware of the development.… Continue reading India: Cycle sharing platform Yulu in talks to raise funds from Xiaomi arm, Shunwei, others