September 19, 2018 Ho Chi Minh City-based logistics startup EcoTruck has raised a $1.7 million pre-Series A funding from South Korean and Vietnamese investors, an executive with the company confirmed to DEALSTREETASIA. Backers include Access Ventures, Nextrans and FuturePlay from Korea, and Viet Capital Ventures – a newly established Vietnamese firm associated with IDG Ventures… Continue reading Vietnamese logistics startup EcoTruck secures $1.7m pre-Series A funding
Author: Deal Street Asia Online News
Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp
August 14, 2018 Vogo, a scooter and bike sharing start-up, has raised $6-7 million in a Series A funding round led by ANI Technologies Pvt. Ltd and Hero MotoCorp chairman Pawan Munjal, according to a person familiar with the matter. Existing investors Matrix Partners India, Stellaris Venture and angel investors also participated in the funding… Continue reading Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp
MY Digest: BM Mobility launches service in KL; Axis REIT buys industrial asset
August 8, 2018 SGX-listed BM Mobility Ltd has launched its own brand of electric bike-sharing service Revgo in Malaysia while Bursa-listed Axis REIT has acquired an industrial facility for RM18.5 million ($4.5 million) in Negeri Sembilan, Malaysia. BM Mobility launches bike-sharing service in KL SGX-listed BM Mobility Ltd has launched its own brand of electric… Continue reading MY Digest: BM Mobility launches service in KL; Axis REIT buys industrial asset
French carpooling firm BlaBlaCar acquires Russia’s BeepCar
August 7, 2018 French carpooling platform BlaBlaCar has acquired Russian counterpart BeepCar from internet company Mail.Ru Group, according to an official statement. Financial terms of the acquisition were not disclosed. BlaBlaCar and Mail.Ru also announced a new partnership, which will see the French startup committing to further promote carpooling through Mail.Ru Group platforms, which include… Continue reading French carpooling firm BlaBlaCar acquires Russia’s BeepCar
Car rental startup Zoomcar raises $3.6m debt funding from Trifecta
August 6, 2018 Self-drive car rental start-up Zoomcar India Pvt. Ltd has raised $3.6 million (Rs 25 crore) in debt funding from Trifecta Capital, said a report in Yourstory quoting filings with Registrar of Companies (RoC). The development comes almost six months after the Bengaluru-headquartered startup closed a $40-million Series C funding round led by automobile… Continue reading Car rental startup Zoomcar raises $3.6m debt funding from Trifecta
Bus aggregator ZipGo in talks to raise funding from Essel Group
August 6, 2018 Bus aggregator ZipGo Technologies Pvt. Ltd is in advanced talks to raise $50 million from Essel Group, a person familiar with the matter said. ZipGo wants fresh capital to grow its presence in India from the current 10 cities, the person who didn’t wish to be named told Mint. The Bengaluru-based company… Continue reading Bus aggregator ZipGo in talks to raise funding from Essel Group
China’s DiDi, Ant Financial said to consider joint $2b Ofo buyout
August 3, 2018 Chinese ride-hailing giant Didi Chuxing and Alibaba’s Ant Financial are in talks with bike-sharing startup Ofo for a joint buyout offer that could value Ofo at up to $2 billion, according to a source with direct knowledge of the discussions. A deal would mark the latest stage of consolidation in China’s once-booming bike-sharing industry, where… Continue reading China’s DiDi, Ant Financial said to consider joint $2b Ofo buyout
China’s Ningbo Jifeng succeeds with revised takeover offer for Germany’s Grammer
July 23, 2018 The family behind Chinese car parts maker Ningbo Jifeng said on Monday that its revised takeover offer for German peer Grammer has been successful. The Wang family, majority shareholder of Ningbo Jifeng, said that 37.7 percent of the Grammer shares had been tendered, meeting a lowered acceptance threshold of 36 percent. The German automotive… Continue reading China’s Ningbo Jifeng succeeds with revised takeover offer for Germany’s Grammer
Magna-BAIC deal raises prospects for an ‘automotive Foxconn’ in China
July 23, 2018 In China, where the future of the car is looking more and more electric, newcomers to the auto industry are looking for partners to help them build their vehicles. Enter Canadian auto supplier Magna International which aims to spearhead a shift to contract vehicle manufacturing through its new partnership with state-owned Chinese… Continue reading Magna-BAIC deal raises prospects for an ‘automotive Foxconn’ in China
Tata Motors renews talks to sell stake in engineering unit
July 23, 2018 Tata Motors Ltd., the owner of Jaguar Land Rover, has restarted talks on the sale of a stake in its engineering unit just months after a deal with Warburg Pincus was called off, people with knowledge of the matter said. The carmaker has started preliminary discussions with a private equity firm that… Continue reading Tata Motors renews talks to sell stake in engineering unit