April 30, 2018 EcoFlow, a battery startup company based in San Francisco and China, has raised over $4 million Series A from Delia Capital, SCUD Group, Guangzhou Penghui Energy and Chunjia Assets, the company announced on April 27. EcoFlow said it will use the proceeds to expand R&D and sales, further deploy energy storage products, and… Continue reading Battery startup EcoFlow raises over $4m Series A from Chinese investors
Author: Deal Street Asia Online News
China’s BAIC Motor to raise $422m via share sale for working capital
April 25, 2018 BAIC Motor Corporation Ltd said on Wednesday it planned to sell new shares for HK$3.3 billion ($422 million) to replenish funds for working capital. The automaker said it would sell 420 million shares or 5.2 percent of its enlargedshare capital to third party investors. They will be sold at HK$7.89 apiece, or… Continue reading China’s BAIC Motor to raise $422m via share sale for working capital
Go-Jek, Singapore’s ComfortDelGro said to be in talks for potential collaboration
April 24, 2018 Indonesia’s ride-hailing giant Go-Jek has held talks with Singapore’s largest taxi operator, ComfortDelGro, for a potential collaboration between the two companies, according to report by TechCrunch. Should Comfort agree to team up with Go-Jek, it would replace the partnership it had with Uber sealed in December, which has effectively been annulled following… Continue reading Go-Jek, Singapore’s ComfortDelGro said to be in talks for potential collaboration
NIO Capital nears completing first round of $500m auto fund to tap new tech
April 22, 2018 NIO Capital, the investment firm backed by Chinese electric-vehicle startup NIO, is close to completing the first round of its $500 million offshore fund that will put money in new automotive technologies, according to people with direct knowledge of the matter. The company is discussing with sovereign-wealth funds, energy and insurance companies… Continue reading NIO Capital nears completing first round of $500m auto fund to tap new tech
China’s state-owned FAW Group to invest in electric vehicle startup Byton
April 20, 2018 China’s state-owned automaker FAW Group agreed to invest a “significant amount of money” in Chinese-funded electric vehicle startup Byton, the startup’s co-founder and chief executive, Carsten Breitfeld, said on Friday. Byton would not disclose the scale of FAW’s investment, but Breitfeld, a former BMW executive, said FAW’s stake in Byton “will be… Continue reading China’s state-owned FAW Group to invest in electric vehicle startup Byton
Singapore taxi firm ComfortDelGro acquires London’s Dial-a-Cab for $1.7m
April 19, 2018 Singapore-headquartered ComfortDelGro has acquired London taxi circuit operator Dial-a-Cab for £1.2 million ($1.7 million) as part of its expansion in the United Kingdom. In a disclosure to the Singapore Exchange on Thursday, ComfortDelGro said the acquisition will be carried out by its wholly-owned subsidiary in the UK, CityFleet Networks Limited. The acquisition will… Continue reading Singapore taxi firm ComfortDelGro acquires London’s Dial-a-Cab for $1.7m
India: Scooter rental startup Vogo in talks to raise funds from Ola, VC firms
April 17, 2018 Scooter rental start-up Vogo Automotive Pvt. Ltd is in advanced talks to raise Rs40-45 crore from cab hailing platform Ola and venture capital firms Stellaris Ventures Partners and Matrix Partners, three people aware of the discussions said. As part of the proposed deal, Ola (ANI Technologies Pvt. Ltd) will lead the round,… Continue reading India: Scooter rental startup Vogo in talks to raise funds from Ola, VC firms
Japan: Mirai Creation Fund invests in financial robo-adviser WealthNavi
February 5, 2018 WealthNavi, provider of Japan’s biggest financial robo-adviser service, has raised fresh funds from Mirai Creation Investment Limited Partnership (Mirai Creation Fund) to further develop and improve its robo-adviser and asset management application. In a disclosure to the JASDAQ Securities Exchange on Monday, Sparx Group Co, operator and co-founder of Mirai Creation Fund,… Continue reading Japan: Mirai Creation Fund invests in financial robo-adviser WealthNavi
Singapore taxi firm ComfortDelGro to acquire AZ Bus charter assets for $10.25m
April 11, 2018 Singapore’s largest taxi operator ComfortDelGro has announced that it will acquire the private bus chartering assets of AZ Bus Pte Ltd for $10.25 million as it seeks to consolidate its position in the industry. In a statement, ComfortDelGro said, the acquisition will be conducted by its bus operation arm ComfortDelGro Bus Pte Ltd.… Continue reading Singapore taxi firm ComfortDelGro to acquire AZ Bus charter assets for $10.25m
China: Alibaba-backed Xiaopeng Motors to raise $2.7b this year
April 10, 2018 Xiaopeng Motors, which counts Alibaba Group Holding Ltd. and Foxconn Technology Group among its investors, plans to raise 17 billion yuan ($2.7 billion) in funds this year as the Chinese car startup seeks to take on rivals in the world’s biggest market for electric vehicles. The company plans to start pre-sales of… Continue reading China: Alibaba-backed Xiaopeng Motors to raise $2.7b this year