January 9, 2019 Autonomous driving startup WeRide has announced fresh investments from artificial intelligence (AI) unicorn SenseTime and a subsidiary of the Agricultural Bank of China, while Starquest Capital has led a 500 million-yuan ($72.77 million) Series C+ round of financing for Miaoshou Doctor. SenseTime invests in WeRide Level 4 autonomous driving startup WeRide (formerly known… Continue reading China: SenseTime backs WeRide; Starquest leads funding for Miaoshou Doctor
Author: Deal Street Asia Online News
Chinese EV startup Byton seeks to raise $500m to fund growth
January 8, 2019 Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly three-year-old company at more than $4 billion, two people familiar with the matter told Reuters. The latest round of fundraising comes as China’s government promotes new energy vehicles (NEVs), a category comprising battery-powered… Continue reading Chinese EV startup Byton seeks to raise $500m to fund growth
India: Cloud kitchen InnerChef raises $6.5m in pre-Series B funding round
January 8, 2019 Shared cloud kitchen platform InnerChef India Pvt. Ltd has raised $6.5 million in a pre-Series B round led by Taizo Son’s Mistletoe Inc. and Das Capital, the company said. Existing investors who participated in the round include Mohan Das Pai’s Saha Fund, and M&A Partners. The funds will be used for brand… Continue reading India: Cloud kitchen InnerChef raises $6.5m in pre-Series B funding round
Grab’s Series H round tops $3b with latest investment from Tokyo Century
January 7, 2019 Japanese financial services company Tokyo Century on Monday announced an undisclosed investment in Singapore-headquartered Grab, pushing the total capital commitments received in the latter’s ongoing Series H round to above $3 billion. According to an official statement, Tokyo Century has made a capital investment in Grab’s car rental arm, Grab Rentals, in addition… Continue reading Grab’s Series H round tops $3b with latest investment from Tokyo Century
China Digest: Qualcomm Ventures backs Baicells; CDH leads Series A+ Round in iSpace
January 4, 2019 Qualcomm Ventures has led a Series B+ round in Chinese 5G solutions provider Baicells while CDH Investments has lead a Series A+ Round in iSpace. Qualcomm Ventures leads series B+ round in Baicells Qualcomm Ventures, the investment arm of US chip-maker Qualcomm Inc, has led a RMB100 million ($14.55 million) Series B+… Continue reading China Digest: Qualcomm Ventures backs Baicells; CDH leads Series A+ Round in iSpace
Sequoia China co-leads $32m Series A round in Australian LiDAR developer Baraja
January 4, 2019 Sequoia Capital China has co-led a Series A investment of $32 million in Baraja Pty, an Australian LiDAR technology developer for autonomous vehicle applications, according to an announcement. Other investors including CSIRO Innovation Fund, managed by Main Sequence Ventures, and Blackbird Ventures also participated in the round. Steven Ji, Partner, Sequoia China,… Continue reading Sequoia China co-leads $32m Series A round in Australian LiDAR developer Baraja
India’s CarDekho raises $110m funding from Sequoia, Hillhouse, others
January 3, 2019 Online auto classifieds portal CarDekho on Thursday announced that it has raised $110 million in a Series C funding round from Sequoia India, Hillhouse, CapitalG (formerly known as Google Capital), and Axis Bank. This funding is in addition to the $75 million raised in previous rounds, it said in a statement. The… Continue reading India’s CarDekho raises $110m funding from Sequoia, Hillhouse, others
Carmen Automotive secures $730k in pre-Series A round led by Silicon Solution Ventures
January 3, 2019 Singapore-based automotive data analytics company Carmen Automotive has raised S$1 million ($730,000) in a pre-Series A funding round led by Silicon Solution Ventures (SSV). SEEDS Capital also participated in this round. According to an official statement, Carmen aims to raise its Series A round in the next 12 months on the back… Continue reading Carmen Automotive secures $730k in pre-Series A round led by Silicon Solution Ventures
India Digest: Sazerac ups JDPL stake; Sachin Bansal pays advance tax; Ola to raise funds
January 3, 2019 Sazerac has acquired an additional 20 per cent stake in Indian liquor maker John Distilleries Pvt Ltd (JDPL) from private equity firm Gaja Capital. In other developments, Sachin Bansal has paid advance tax on the gains incurred from the sale of his stake in Flipkart while cab-hailing firm Ola is in the process of… Continue reading India Digest: Sazerac ups JDPL stake; Sachin Bansal pays advance tax; Ola to raise funds
China’s CITIC announces restructuring of special steel business
January 3, 2019 Hong Kong-listed Chinese conglomerate CITIC Limited on Wednesday announced that it is restructuring its special steel business by consolidating the assets under the Shenzhen-listed entity Daye Special Steel. As part of the restructuring exercise, Daye Special Steel, in which CITIC indirectly owns a 58.13 per cent stake, has signed an agreement to… Continue reading China’s CITIC announces restructuring of special steel business