March 13, 2019 Close on the heels of raising a $20-million funding round, vehicle sharing marketplace Drivezy, formerly known as JustRide, is close to raising another $100 million in equity funding. The Bengaluru-based company is raising another $400 million in asset financing, which will help it enter new markets and integrate advanced services. In November last… Continue reading Indian vehicle sharing startup Drivezy in talks to raise $100m financing
Author: Deal Street Asia Online News
Vietnam Digest: Vingroup mulls $1b private placement; SocGen exits SeaBank
March 13, 2019 Vingroup has announced its plan to conduct a private placement offering to raise $1 billion while French Société Générale Group has fully divested 20 per cent stake in Hanoi-based lender SeABank. Vingroup to issue $1b private placement Vietnam’ biggest listed firm by market value, Vingroup, has announced its plan to conduct private placement to… Continue reading Vietnam Digest: Vingroup mulls $1b private placement; SocGen exits SeaBank
India: Mahindra CIE Automotive acquires Aurangabad Electricals for $119m
March 12, 2019 Automotive components supplier Mahindra CIE Automotive Ltd has acquired Aurangabad Electricals Ltd (AEL), an aluminium die casting firm, for ₹830 crore, Mahindra CIE said in an exchange filing on Tuesday. Aluminium die casting is a process used to make smooth, defined metal parts by forcing them into a mold. The acquisition will… Continue reading India: Mahindra CIE Automotive acquires Aurangabad Electricals for $119m
China Digest: Baidu leads $450m round in Weltmeister; Orchid Asia backs Hunliji
March 11, 2019 Chinese internet group Baidu Inc has led a $450-million Series C round into Weltmeister Motor while Orchid Asia has led a $70-million round into Chinese wedding services provider Hunliji. Baidu Inc leads $450m Series C round into Weltmeister Motor Electric vehicle maker Weltmeister Motor has raised RMB 3 billion ($450 million) in a Series C round led by… Continue reading China Digest: Baidu leads $450m round in Weltmeister; Orchid Asia backs Hunliji
Tyre maker Michelin buys 88% in Indonesia’s Multistrada for $480m
March 8, 2019 French tyre maker Michelin said it had bought an 88 percent stake in Indonesian peer company PT Multistrada Arah Sarana for $480 million, strengthening its presence in a fast-growing Asian market. Michelin has been on the takeover trail, and acquired Canadian rival Camso for $1.45 billion last year. Reuters Go to Source
Tesla secures up to $521m loan from Chinese lenders for its vehicle factory
March 8, 2019 Tesla Inc. secured as much as $521 million in loans from Chinese banks to build a vehicle and battery factory in the country, putting the carmaker a step closer to producing Model 3 sedans at its first overseas plant. The loans from China Construction Bank Corp., Agricultural Bank of China Ltd., Industrial… Continue reading Tesla secures up to $521m loan from Chinese lenders for its vehicle factory
Temasek invests in US-based airspace management platform AirMap
March 6, 2019 Singapore’s Temasek Holdings has invested an undisclosed amount in California-based airspace management platform AirMap, according to a Medium post by the company’s co-founder. The Singapore state investment firm was joined by Honeywell Ventures, the venture capital arm of Honeywell, in the financing. AirMap provides unmanned aerial system (UAS) Traffic Management (UTM) solutions to… Continue reading Temasek invests in US-based airspace management platform AirMap
Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b
March 6, 2019 Ride-hailing unicorn Grab has raised $1.46 billion in fresh funding from the SoftBank Vision Fund, bringing the total amassed in its ongoing Series H to $4.5 billion, according to a statement on Wednesday. SoftBank Group Corp is an existing Grab investor. It first bought a stake in Grab for $250 million in… Continue reading Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b
China’s car trading platform Chehaoduo snags $1.5b from SoftBank Vision Fund
February 28, 2019 Chinese car trading platform Chehaoduo on Thursday announced that it has bagged $1.5 billion in fresh funding from SoftBank Vision Fund. The parent company of Guazi.com & Maodou.com allows customers to buy and sell used and new cars. Its investors include Sequoia Capital, Tencent Holdings, Bluerun Ventures, Matrix Partners and Singapore’s sovereign… Continue reading China’s car trading platform Chehaoduo snags $1.5b from SoftBank Vision Fund
ChemChina considers stake sale in Italian tyre maker Pirelli
February 27, 2019 China National Chemical Corp. is considering reducing its stake in Italian tiremaker Pirelli & C. SpA as part of a strategic review of the Chinese group’s overseas investments, according to people familiar with the matter. ChemChina, as the state-owned firm is known, is considering a number of options for its stake, including… Continue reading ChemChina considers stake sale in Italian tyre maker Pirelli