November 9, 2018 Singapore’s largest taxi operator ComfortDelGro announced that it is setting up a $100-million corporate venture capital fund to focus on incubation and investments in mobility technologies and solutions that complement the company’s land transport business. The fund – ComfortDelGro Capital Partners (CCP) – will invest in startups that plug technology gaps, and… Continue reading SG’s ComfortDelGro to set up $100m VC fund to invest in mobility startups
Author: Deal Street Asia Online News
Mubadala’s venture arm leads $60m round for US logistics startup Turvo
November 9, 2018 Abu Dhabi state fund Mubadala Investment Company, through its venture capital arm Mubadala Ventures, has led a $60-million funding round for California-based logistics platform Turvo, according to an announcement. The Series B funding round also saw participation from new investors G2VP and Next47, the Siemens-backed global venture firm. Existing investors Activant Capital, Felicis… Continue reading Mubadala’s venture arm leads $60m round for US logistics startup Turvo
Grab secures $50m funding from KASIKORNBANK, marks entry of payments biz in Thailand
November 8, 2018 Ride-hailing major Grab announced that it has raised an $50 million strategic investment from Thailand-based KASIKORNBANK (KBank), at the same time, marking the entry of its payment arm into the Thai market, it said in an announcement today. According to the startup, Grab Financial has secured an e-money licence in Thailand, and… Continue reading Grab secures $50m funding from KASIKORNBANK, marks entry of payments biz in Thailand
Liberty House to acquire three more European steel plants from ArcelorMittal
November 4, 2018 Liberty House Group, a UK-based company owned by India-born British businessman Sanjeev Gupta, has signed an agreement to acquire three more steel plants in Europe from global steel giant ArcelorMittal. Under the agreement, Liberty House intends to buy the Flemalle and Tilleur sites near Liege, Belgium and the Dudelange, Luxembourg facility, according to an… Continue reading Liberty House to acquire three more European steel plants from ArcelorMittal
Hyundai, Yield Capital launch $100m hydrogen energy-focused VC
November 1, 2018 South Korea’s Hyundai Motor Company has teamed up with Beijing-Tsinghua Industrial R&D Institute (BTIRDI), a Chinese engineering institute, to jointly raise around $100 million for a fund that invests in hydrogen energy startups. Hyundai Motor and Yield Capital, an investment unit under BTIRDI, will manage Hydrogen Energy Industry Fund, which will support… Continue reading Hyundai, Yield Capital launch $100m hydrogen energy-focused VC
Grab snags $200m funding from US travel firm Booking Holdings
October 29, 2018 Singapore-based ride-hailing major Grab has raised $200 million funding from Booking.com parent company, Booking Holdings, said the startup in an announcement on Monday. As part of the deal, brands under NASDAQ-listed Booking Holdings will soon be offering on-demand transport services through their apps, powered by Grab, and Grab users will be able… Continue reading Grab snags $200m funding from US travel firm Booking Holdings
Chinese EV startup Faraday gets nod to raise up to $500m post arbitration
October 26, 2018 Chinese electric vehicle firm Faraday Future can seek financing from sources other than Evergrande Health, according to an interim ruling by a Hong Kong arbitration court in a dispute between the startup and its main investor. The ruling, however, caps the amount of financing at $500 million and stipulates that any fresh… Continue reading Chinese EV startup Faraday gets nod to raise up to $500m post arbitration
Faurecia to buy car navigation unit Clarion from Hitachi for $710m
October 25, 2018 French car parts maker Faurecia SA is set to buy a majority stake in Japanese car navigation system maker Clarion Co from Hitachi Ltd for around 80 billion yen ($710 million), the Nikkei reported on Thursday. The report said Hitachi agreed to sell most of its stake to Faurecia, making the French… Continue reading Faurecia to buy car navigation unit Clarion from Hitachi for $710m
Tata Motors mulls alliance with Ola, Uber with new shared mobility platform
October 17, 2018 Tata Motors Ltd has created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions, said two people aware of the development. Named Mobility Innovations Hub, the new department is headed by Pankaj Jhunja, formerly with Tata Technologies, said the people… Continue reading Tata Motors mulls alliance with Ola, Uber with new shared mobility platform
Flipkart’s Sachin Bansal looks to invest $100m in Ola – Report
October 11, 2018 Months after his exit from e-commerce major Flipkart, co-founder Sachin Bansal is planning to invest up to $100 million in Indian ride-hailing firm Ola, said a report in The Economic Times quoting sources. It was recently also reported that South African internet conglomerate Naspers LLC was in talks to invest in ANI… Continue reading Flipkart’s Sachin Bansal looks to invest $100m in Ola – Report