TuSimple Holdings Inc said on Wednesday it will lay off 25% of its workforce, or nearly 350 employees, as the self-driving truck company seeks to chart a course out of the economic upheaval that has been raging throughout the year. The company said it expects to record a one-time charge of nearly $10 million to… Continue reading Self-driving truck company TuSimple to lay off 25% of workforceThe downsizing follows the dramatic removal of chief executive Xiaodi Hou in October.
Author: Deal Street Asia Online News
Toshiba’s preferred bidder JIP to seal $10.6b loan deal this week: report
Japan Industrial Partners (JIP), the preferred bidder to buy out Toshiba Corp, is set to sign a loan agreement of about 1.4 trillion yen ($10.6 billion) with lenders this week, the Yomiuri newspaper reported on Thursday. Toshiba’s shares surged on the report and were up 5% in mid-afternoon trade. The loans include a commitment line… Continue reading Toshiba’s preferred bidder JIP to seal $10.6b loan deal this week: report
Summit Video: Animoca-backer Gobi Partners sees more opportunities in Web 3.0“Web 3.0 is a new era that we’re keeping an eye on,” said Chibo Tang, man…
Hong Kong-based venture capitalist Gobi Partners, which is a backer of the NFT and blockchain gaming firm Animoca Brands, sees a lot of opportunities in the Web 3.0 and metaverse space. “Web 3.0 is a new era that we’re keeping an eye on and that we’re making selective bets. But I do believe that, as… Continue reading Summit Video: Animoca-backer Gobi Partners sees more opportunities in Web 3.0“Web 3.0 is a new era that we’re keeping an eye on,” said Chibo Tang, man…
PE giant KKR makes second investment in Korean energy firm SK E&S
In its second investment in South Korea’s SK E&S Co Ltd, global investment major KKR announced that it has acquired the energy company’s newly issued redeemable convertible preferred shares (RCPS) for an undisclosed sum. The investment extends KKR and SK E&S’s ongoing relationship and follows the PE firm’s acquisition of $ 2 billion worth of… Continue reading PE giant KKR makes second investment in Korean energy firm SK E&S
Indonesian clean energy company Suryanesia raises $2m in first external funding
Indonesian clean energy company Suryanesia announced on Thursday that it has raised $2 million in a seed round, the company’s first external financing, amid plans to expand services. Suryanesia, which currently instals and operates solar panels, is looking to foray into residential solar and add more independent power production lines such as wind power, battery… Continue reading Indonesian clean energy company Suryanesia raises $2m in first external funding
Data Vantage: ALAMI, Ayoconnect and Advance raise funding, and other updates
Sharia fintech startup ALAMI received $3.78 million this week from investors, including East Ventures (Growth Fund), AC Ventures, Quona Capital, Capria Ventures and FEBE Ventures. The latest capital injection is part of its pre-Series B financing and brings the round total to $7.56 million. The company had announced the East Ventures (Growth Fund)-led pre-Series B… Continue reading Data Vantage: ALAMI, Ayoconnect and Advance raise funding, and other updates
Over 1,000 foreign PE-VC firms invested in India in 2022 despite the funding winterThe list includes first-time investors such as KF Trust, and Singap…
The number of global institutional investors that invested in Indian startups stood at over 1,000 for the second time in a row this year. As many as 1,013 foreign PE and VC firms sealed deals in India this year, hoping to garner returns from the country’s entrepreneurial ecosystem, show data from Tracxn. While this is… Continue reading Over 1,000 foreign PE-VC firms invested in India in 2022 despite the funding winterThe list includes first-time investors such as KF Trust, and Singap…
SE Asia lures wealth as Greater China loses its sheen this year
Talent, capital and wealth have seen a movement to Singapore from Hong Kong, both of which serve as an archway to some of Asia’s biggest economies — the former to Southeast Asia and the latter to Greater China. Numerous venture capital (VC) and private equity (PE) companies have started to make their mark in Southeast… Continue reading SE Asia lures wealth as Greater China loses its sheen this year
PH salary-on-demand startup Advance scores $3.87m in fresh funding
Advance, a Philippines-based fintech startup that operates a salary-on-demand platform, has raised $3.87 million in its latest funding round led by Vietnamese venture capital investor Do Ventures, according to regulatory filings. The latest financing was also backed by Wavemaker Partners, Integra Partners, Accion Venture Lab, Kaya Founders, and Foxmont Capital Partners, among others, shows Advance’s… Continue reading PH salary-on-demand startup Advance scores $3.87m in fresh funding
Top 20 Indian startups that raised mega rounds in 2022
Braving the so-called funding winter that impacted overall deal flow in the Indian startup ecosystem, a handful of companies did manage to raise mega-rounds ($100 million and above) and survive the storm. With $1.05 billion in its kitty, edtech decacorn BYJU’s ruled the pecking order of the list of top 20 most funded companies, according… Continue reading Top 20 Indian startups that raised mega rounds in 2022