Author: Deal Street Asia Online News

Warburg-backed logistics robotics startup Geek+ snags $150m Series C1 round

Chinese logistics robotics startup Geek+ has closed a $150 million Series C1 round, led by GGV Capital and US-based hedge fund D1 Capital Partners, according to an announcement on Wednesday. The round, which is reportedly the largest in the logistics robot industry – also saw participation of its existing investors including Warburg Pincus, a US-based… Continue reading Warburg-backed logistics robotics startup Geek+ snags $150m Series C1 round

India Dealbook: Cornerstone backs two B2B startups; PURE EV gets funding

B2B tech startups, Wigzo and IntelligenceNode Consulting, and IIT Hyderabad-incubated PURE EV are among the latest startups that have raised funding. Cornerstone Venture backs B2B startups Cornerstone Venture Partners, established by former Reliance Industries executives, has invested $1 million each in two early-stage B2B tech startups, Wigzo and IntelligenceNode Consulting. The VC firm, founded by… Continue reading India Dealbook: Cornerstone backs two B2B startups; PURE EV gets funding

GOJEK said to have secured investment from Thailand’s Siam Commercial Bank

Ride-hailing giant Go-Jek has secured an investment from Siam Commercial Bank Pcl, the Thai lender that counts King Maha Vajiralongkorn as its biggest shareholder, according to people familiar with the matter. It’s unclear how much Thailand’s biggest bank is investing in Go-Jek, the people said, who asked not to be identified because the matter is… Continue reading GOJEK said to have secured investment from Thailand’s Siam Commercial Bank

Chinese tech giant Baidu partners Geely, Toyota in self-driving push

China’s top search engine operator Baidu Inc has joined hands with Zhejiang Geely Holding Group and Japan’s Toyota Motor Corp to cooperate on areas related to artificial intelligence (AI) amid a push for self-driving cars. Under their partnership, Geely and Toyota have joined Apollo, an autonomous driving platform by Baidu. Baidu will provide Apollo Minibus,… Continue reading Chinese tech giant Baidu partners Geely, Toyota in self-driving push

Indonesian trucking startup Ritase raises $8.5m Series A led by Golden Gate

Indonesian trucking services platform Ritase has closed a Series A funding round of $8.5 million led by Golden Gate Ventures to propel its growth and expand into new markets. Other investors that participated in the round are Jafco Asia and ZWC Ventures, as well as existing backers including Insignia Ventures, Beenext and Skystar Capital, Ritase… Continue reading Indonesian trucking startup Ritase raises $8.5m Series A led by Golden Gate

Applied Materials to acquire Japan’s Kokusai Electric for $2.2b in cash deal

Applied Materials Inc, the world’s biggest supplier of chipmaking equipment, said on Monday it would buy Japanese peer Kokusai Electric for $2.2 billion in cash from global investment firm KKR & Co Inc. The move comes amid rising competition for providing cutting-edge semiconductors for use in fifth-generation (5G) telecommunications equipment. The deal would push the U.S. company’s share of the chipmaking… Continue reading Applied Materials to acquire Japan’s Kokusai Electric for $2.2b in cash deal

E-commerce giant Flipkart to replace 40% of its delivery vans with EVs

Walmart Inc’s Indian unit Flipkart said late Thursday it plans to replace nearly 40% of its current fleet of delivery vans with electric vehicles (EVs) by March 2020, as part of its efforts to cut down on its carbon footprint. The Bengaluru-based ecommerce company said it will start with deploying 160 vans by 2019-end. Some of these EVs are already plying in the country’s capital of New Delhi. Flipkart has amped up its focus on… Continue reading E-commerce giant Flipkart to replace 40% of its delivery vans with EVs

Five Japanese automakers to invest 2% each in SoftBank-Toyota self-driving car venture

Five Japanese automakers including Suzuki Motor Corp and Mazda Motor Corp on Friday said they would each invest 2% in the on-demand, self-driving car service venture set up by SoftBank Corp and Toyota Motor Corp. Suzuki, Mazda, Subaru Corp, Isuzu Motors Ltd and Toyota‘s compact car unit Daihatsu will each invest 57.1 million yen ($530,620) in the venture – dubbed Monet – in return for a… Continue reading Five Japanese automakers to invest 2% each in SoftBank-Toyota self-driving car venture

Toyota to invest $2b in developing electric vehicles in Indonesia

Toyota Motor Corp plans to invest $2 billion to develop electric vehicles (EVs) in Indonesia over the next four years, starting with hybrid vehicles, Indonesia’s coordinating ministry for maritime affairs said. “From 2019 to 2023, we will progressively increase our investment to 28.3 trillion rupiah ($2 billion),” Toyota president Akio Toyoda was quoted as saying in a… Continue reading Toyota to invest $2b in developing electric vehicles in Indonesia