Singapore ride-hailing giant Grab held talks to acquire payments provider 2C2P Pte and was turned down, according to people familiar with the matter, a sign of the ambitions Southeast Asia’s most valuable startup has in financial services. Grab was one of multiple possible bidders interested in 2C2P with preliminary offers ranging up to about $200… Continue reading Grab said to have discussed buying Asia payments startup 2C2P
Author: Deal Street Asia Online News
Hellobike sets up $145m e-bike battery JV with Ant Financial, CATL
Chinese bike sharing company Hellobike has joined forces with Ant Financial and CATL to invest 1 billion yuan ($144.5 million) to establish an e-bike battery joint venture, media reports cited a joint announcement. The holding percentage of each party in the joint venture was not disclosed. Hellobike’s existing platform already exchanges 500,000 rechargeable batteries for… Continue reading Hellobike sets up $145m e-bike battery JV with Ant Financial, CATL
Indonesia’s GOJEK acquires AirCTO to expand engineering base in India
Indonesia-based ride-hailing startup Go-Jek on Wednesday announced its acquisition of Bengaluru-based AirCTO, an Artificial Intelligence- based recruitment platform, for an undisclosed amount. Go-Jek will use the acquisition to open its second engineering and product development center in Gurgaon, according to the company’s statement. As part of the deal, the AirCTO team will join Go-Jek with… Continue reading Indonesia’s GOJEK acquires AirCTO to expand engineering base in India
Thyssenkrupp, Tata Steel JV hits a roadblock, rejected by EU regulators
Thyssenkrupp and Tata Steel’s plan to form a landmark joint venture was rejected by EU antitrust regulators on Tuesday, concerned that the deal would have pushed up prices and reduced competition. The European Commission said the companies, which had looked to the deal as one way to tackle overcapacity and other challenges in the steel… Continue reading Thyssenkrupp, Tata Steel JV hits a roadblock, rejected by EU regulators
SoftBank, Toyota self-driving car venture to launch in SE Asia next year
The self-driving car joint venture of SoftBank Corp and Toyota Motor plans to begin operating in Southeast Asia next year, in its first overseas foray, its chief executive said on Tuesday. Monet, which is developing an on-demand self-driving service platform, is planning to export a basic version of the system, Chief Executive Junichi Miyakawa told… Continue reading SoftBank, Toyota self-driving car venture to launch in SE Asia next year
China Merchants Capital-backed LiDAR startup Innoviz closes Series C at $170m
Innoviz Technologies, the Israel-based company that develops cutting-edge LiDAR (Light Detection and Ranging) technology, has closed its Series C funding round with an additional $38 million to bring the total series funding to $170 million. In March, the tech firm announced that it has raised $132 million in the Series C round, with Chinese investment… Continue reading China Merchants Capital-backed LiDAR startup Innoviz closes Series C at $170m
Mahindra-backed self-drive Zoomcar in merger talks with rival Drivezy
Self-drive car rental company Zoomcar and car and bike rental startup Drivezy are in preliminary talks for an equal merger, three people aware of the matter said. Zoomcar, which was started by American duo Greg Moran and David Back in 2013 in Bengaluru, is now backed by Mahindra and Mahindra Ltd (M&M). Drivezy, launched as JustRide… Continue reading Mahindra-backed self-drive Zoomcar in merger talks with rival Drivezy
SoftBank may pump up to $500m in Indian food delivery startup Swiggy
Food delivery startup Swiggy is in advanced talks to raise as much as $1 billion from investors, including $300-500 million from SoftBank Group, stealing a march on rival Zomato, which was also wooing the Japanese firm for a mega investment, four people familiar with the development said. If the deal goes through, it will be… Continue reading SoftBank may pump up to $500m in Indian food delivery startup Swiggy
China’s electric vehicle maker Bordrin Motor raises $361m from Sinochem, others
Chinese electric vehicle maker Bordrin Motor raised RMB2.5 billion ($361.85 million) in a new round of financing, led by Yin An Capital, an investment vehicle of state-owned Sinochem International Corporation, according to an announcement. The funding round also saw the participation of the company’s existing investors including Chinese private equity firm CGP Investment and Japanese… Continue reading China’s electric vehicle maker Bordrin Motor raises $361m from Sinochem, others
Unilever Ventures leads $10.5m funding in Indian grocery delivery startup Milkbasket
Unilever Ventures, the investment arm of consumer packaged goods company Unilever Plc, has led a $10.5-million investment in Gurgaon-based grocery delivery startup Milkbasket. Other investors who participated in the latest round of funding include Mayfield India, Kalaari Capital and Blume Ventures, besides a few Indian family offices. “While the industry is witnessing a number of… Continue reading Unilever Ventures leads $10.5m funding in Indian grocery delivery startup Milkbasket