June 20, 2018 Chinese conglomerate Fosun International has agreed to acquire Germany-based automated and flexible production systems provider FFT GmbH & Co. KGaA (FFT) for a still undisclosed amount. In a statement, Fosun said it will acquire FFT from ATON GmbH, a German family-owned private investment firm, through the funds managed by Fosun, giving FFT… Continue reading Fosun agrees to buy German production systems firm FFT
Author: Deal Street Asia Online News
China Digest: Used car platform Cheduoduo, co-work space startup Distrii raise funds
June 14, 2018 Chinese startups Cheduoduo, a used-car platform, and co-working space operator Distrii have closed $17.7 million Series A investment and $23 million Series A+ funding round, respectively. China Growth Capital leads used-car platform Cheduoduo $17.7m Series A Beijing-based used-car trading platform Cheduoduo has secured $17.7 million in a Series A round led by… Continue reading China Digest: Used car platform Cheduoduo, co-work space startup Distrii raise funds
Tencent-backed used car auction platform Tiantian Paiche secures $100m
June 7, 2018 Tiantian Paiche, a Shanghai-based used car online platform that counts Tencent among its early backers, has raised $100 million from Autohome, an online portal for automobile consumers in China. On its Wechat account, the company said Autohome was the sole investor in the corporate round. The investor has also obtained the right… Continue reading Tencent-backed used car auction platform Tiantian Paiche secures $100m
Gobi-backed Chinese used car auction platform Chezhibao raises $125m
June 7, 2018 Fresh from raising $100 million in its Series C in March, Chinese used-car online auction startup Chezhibao Information Technology announced that it has closed its Series D funding round with a total of Rmb800 million ($125 million) in investments. The company, which operates the business-to-consumer car trading platform Chezhibao.com, said the latest… Continue reading Gobi-backed Chinese used car auction platform Chezhibao raises $125m
Scooter startup Lime to raise $250m in Google-led round at $1b valuation
June 6, 2018 Lime, the bike and scooter sharing company, is raising about $250 million in a funding round led by Google Ventures, according to a person familiar with the deal, who asked not to be identified because the information isn’t public. The deal values Lime at about $1 billion, the person said. Bird, its main rival,… Continue reading Scooter startup Lime to raise $250m in Google-led round at $1b valuation
China’s automaker Protean Electric closes $40m Series E round
June 4, 2018 Chinese automaker Protean Electric has closed a $40 million equity investment in its series E funding round led by Shenzhen-listed Weifu High-Technology Group and existing investor Oak Investment Partners. According to a press release, the funding will be utilised to support Protean’s ongoing business activities and to help establish a global licensing… Continue reading China’s automaker Protean Electric closes $40m Series E round
Ant Financial backs $321m round in Hellobike as another Chinese unicorn emerges
June 4, 2018 China’s bike-sharing firm Hellobike has raised RMB2.06 billion ($321 million) in its latest funding round from Alibaba Holding Ltd’s Ant Financial, giving the startup a valuation of $1.47 billion, creating yet unicorn in China. According to a security filing by Hellobike-owner Youon Bike, Ant Financial is now the largest shareholder with a… Continue reading Ant Financial backs $321m round in Hellobike as another Chinese unicorn emerges
Scooter sharing startup Bird said to be valued at $1b in Sequoia-led round
May 30, 2018 Bird, an electric scooter-sharing startup, is raising $150 million in a funding round led by Sequoia Capital that will value the company at $1 billion, people familiar with the matter said. This is the first batch of money in this new round, and the company plans to raise more, said one of… Continue reading Scooter sharing startup Bird said to be valued at $1b in Sequoia-led round
China’s Ningbo Jifeng Auto in talks to buy German partner Grammer in $872m deal
May 29, 2018 Ningbo Jifeng Auto Parts Co. affiliates are in talks to buy out partner Grammer AG in a possible deal that could value the German maker of vehicle seats at about 750 million euros ($872 million). The German company said in a stock exchange statement Tuesday that it had received an indicative proposal… Continue reading China’s Ningbo Jifeng Auto in talks to buy German partner Grammer in $872m deal
OLX Group injects $89m into auto marketplace Frontier Car Group
May 24, 2018 Global online classified platform OLX Group has announced an investment of $89 million, through its early-stage investment arm OLX Ventures, in the C series funding round of online car marketplace Frontier Car Group (FCG), which has presence in six countries including Indonesia and Pakistan. FCG operates brands BeliMobilGue in Indonesia and CarFirst… Continue reading OLX Group injects $89m into auto marketplace Frontier Car Group