February 27, 2019 Chinese artificial intelligence firm Horizon Robotics has secured a $600-million Series B financing jointly led by SK China, SK Hynix and several automotive groups. The funding round values Horizon Robotics at $3 billion, the company said in a statement. The investment was joined by China Oceanwide Group’s Oceanwide Capital, CMBC Capital, CLSA’s CSOBOR Fund, Oceanpine… Continue reading China’s Horizon Robotics bags $600m Series B financing
Author: Deal Street Asia Online News
JD arm, Dongfeng Motor among six firms to invest $354m in China Railway unit
February 15, 2019 China’s national railway operator has sold a 15 percent stake in one of its units for 2.37 billion yuan ($349.9 million) to a group of six firms including JD.com’s logistics arm and Dongfeng Motor, in the latest implementation of the country’s mixed-ownership reforms. Beijing has been trying to bring private-sector investment and… Continue reading JD arm, Dongfeng Motor among six firms to invest $354m in China Railway unit
Japan’s Nissan forms JV to set up Algerian car assembly plant
February 13, 2019 Japan’s second-largest automaker Nissan Motor Co has signed a joint venture agreement with an Algerian private partner to build a car assembly plant at a cost of $160 million, the company said on Wednesday. The plant, near the western city of Oran, is due to start production in the first half of… Continue reading Japan’s Nissan forms JV to set up Algerian car assembly plant
US autonomous truck startup TuSimple raises $95m led by China’s Sina
February 13, 2019 US self-driving truck startup TuSimple said it has raised $95 million in a funding round led by Chinese internet giant Sina Corp, which values the three-year-old firm at $1 billion. The fresh funds, investors of which also include Hong Kong-based investment firm Composite Capital, will be used to expand its commercial fleet… Continue reading US autonomous truck startup TuSimple raises $95m led by China’s Sina
Japanese self-drive cars map developer to acquire US rival Ushr
February 13, 2019 Japanese map platform developer Dynamic Map Platform plans to acquire Detroit-based Ushr for nearly 20 billion yen ($181.1 million) in a bid to cement a stronger position in the burgeoning self driving cars market, the Nikkei newspaper said. Dynamic Map Platform would acquire U.S. map startup Ushr as it seeks a stronger… Continue reading Japanese self-drive cars map developer to acquire US rival Ushr
Indonesian used car startup BeliMobilGue.co.id bags $10m Series A
February 12, 2019 Indonesian car marketplace BeliMobilGue.co.id has closed a $10-million Series A round led by parent company Frontier Car Group, with participation from new and existing investors, including Jardines-owned PT Toyota Tunas Indonesia. The investment comes a year after the company’s previous funding round and will help it further expand into key Indonesian cities,… Continue reading Indonesian used car startup BeliMobilGue.co.id bags $10m Series A
Driverless delivery startup Nuro gets $940m from SoftBank Vision Fund
February 11, 2019 Autonomous technology startup Nuro said on Monday it raised $940 million from SoftBank Group Corp, which valued the Silicon Valley-based company at $2.7 billion. Nuro was co-founded in 2016 by two former engineers of Google’s self-driving car project, Dave Ferguson and Jiajun Zhu. The funding by SoftBank came through its $100-billion Vision… Continue reading Driverless delivery startup Nuro gets $940m from SoftBank Vision Fund
Vietnamese logistics startup LOGIVAN raises $5.5m from Alpha JWC, others
February 11, 2019 LOGIVAN, a Vietnamese web platform that connects truckers with shipping capacity, has raised $5.5 million from two angel investors and venture capital firm Alpha JWC, it announced on Monday. David Su, a founding managing partner at Matrix Partners China, is one of the angel investors to have backed the latest funding. LOGIVAN plans… Continue reading Vietnamese logistics startup LOGIVAN raises $5.5m from Alpha JWC, others
French tiremaker Michelin acquires Indonesian peer Multistrada for $439m
February 6, 2019 French tire manufacturer Michelin has agreed to acquire Indonesian counterpart Multistrada Arah Sarana for $439 million to strengthen its presence in Southeast Asia’s largest market. In an official statement, Michelin said it will acquire 80 per cent of Jakarta-based Multistrada. It is understood that the company plans to launch a tender offer to… Continue reading French tiremaker Michelin acquires Indonesian peer Multistrada for $439m
SoftBank Vision Fund said to be in talks to invest $1.5b in Chinese used car site Guazi
February 2, 2019 The SoftBank-led Vision Fund is in talks to invest up to $1.5 billion in Chinese used car trading platform Guazi.com, two people with knowledge of the matter said. That would mark the latest Chinese deal by the mammoth $100 billion investment fund as it looks to expand in the world’s No.2 economy,… Continue reading SoftBank Vision Fund said to be in talks to invest $1.5b in Chinese used car site Guazi