Author: Deal Street Asia Online News

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

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