Letin, a Chinese new energy vehicle (NEV) manufacturer also known as “Levdeo,” announced on Monday that it has secured 3.2 billion yuan ($447.2 million) in a Series A round of financing to expand the business in China and worldwide. The lesser-known Chinese NEV company raised the Series A round from lead investor Weicheng West Investment… Continue reading China’s Letin raises $447m in Series A round to expand NEV sales
Author: Deal Street Asia Online News
JD.com to cut salaries of senior executives by 10-20% next year
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Crypto exchange FTX’s total cash balance at $1.24b
Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, had a total cash balance of $1.24 billion as of Nov. 20, according to a court filing on Monday. FTX will see a drop in its cash flow by $20 million to $459 million by Dec. 23, from $479 million as of Nov. 25,… Continue reading Crypto exchange FTX’s total cash balance at $1.24b
Faraday Future warns it may not be able to deliver FF 91 luxury electric carThe EV startup said it had $32m in cash as of the quarter that ended Sept….
Faraday Future Intelligent Electric said on Monday it had “substantial doubt” about its ability to continue as a going concern, adding that it is uncertain when it can complete first deliveries of its FF 91 luxury electric car. The company had earlier planned to start deliveries of the car in the fourth quarter of this year. Faraday Future,… Continue reading Faraday Future warns it may not be able to deliver FF 91 luxury electric carThe EV startup said it had $32m in cash as of the quarter that ended Sept….
Strong Q3 suggests GoTo is on firm footing in ride towards profitabilityGoTo has advanced its group contribution margin breakeven timeline by one or t…
Indonesia-listed technology group PT GoTo Gojek Tokopedia Tbk reported positive third-quarter results on Monday by beating its own guidance despite incentive reductions for users and growing macroeconomic pressure. GoTo’s Q3 loss of 6.8 trillion rupiah ($432 million) notwithstanding, the group showed growth in its transactions, revenue, and key profitability metrics in the period. Go to… Continue reading Strong Q3 suggests GoTo is on firm footing in ride towards profitabilityGoTo has advanced its group contribution margin breakeven timeline by one or t…
FMO proposes $25m investment in SG energy company BE C&I Solutions
Dutch development bank FMO has proposed a $25 million investment in BE C&I Solutions Holdings Limited, a Singapore-based distributed energy business that develops, builds and operates solar PV rooftop and ground mount installations for commercial and industrial (C&I) customers in emerging markets, according to a disclosure. The company, earlier known as Berkeley Energy Commercial &… Continue reading FMO proposes $25m investment in SG energy company BE C&I Solutions
Yoma to buy Telenor’s stake in Myanmar’s Wave Money for $40m, down from $53m
Yoma MFS Holdings, a subsidiary of Singapore-listed Yoma Strategic, is acquiring a 51% stake in Digital Money Myanmar (Wave Money), a digital payment service provider, for $40 million, according to a disclosure. Yoma will acquire the controlling stake from Norwegian telecom firm Telenor, a joint venture partner of Yoma Strategic in Wave Money. Both Telenor… Continue reading Yoma to buy Telenor’s stake in Myanmar’s Wave Money for $40m, down from $53m
Crypto exchange Binance placed on Singapore’s Investor Alert List following complaintsMAS warned that dealing in any cryptocurrency, on any platform, …
Cryptocurrency exchange Binance was investigated by Singapore’s Commercial Affairs Department (CAD), following several complaints between January and August 2021. Subsequently, it was placed on the city-state’s Investor Alert List (IAL), the Monetary Authority of Singapore (MAS) said in a statement on Monday. The statement was issued in response to the “questions and misconceptions that have… Continue reading Crypto exchange Binance placed on Singapore’s Investor Alert List following complaintsMAS warned that dealing in any cryptocurrency, on any platform, …
Schneider Electric-backed SE Ventures launches $500m climate-tech fund
Global venture capital fund SE Ventures, backed by French energy management company Schneider Electric, has announced a €500-million (around $500 million) Fund II on Monday, establishing it as one of the largest VCs focusing on climate and industrial technology. Following a 2018 Fund I to bring SE Ventures to €1 billion of committed capital, Fund… Continue reading Schneider Electric-backed SE Ventures launches $500m climate-tech fund
Greater China Digest: Circle picks up stake in CYBAVO; Grace Laser bags fundingADDX was an investor in CYBAVO’s $4m pre-Series A round in August 2021.
Circle has picked up a stake in Taiwan’s CYBAVO from Singapore’s ADDX while while laser equipment maker Grace Laser has snapped almost $28 million in a funding round. Circle acquires ADDX’s stake in CYBAVO Singaporean private market exchange ADDX has sold its stake in Taiwan-based CYBAVO to crypto finance company Circle, the parent company of… Continue reading Greater China Digest: Circle picks up stake in CYBAVO; Grace Laser bags fundingADDX was an investor in CYBAVO’s $4m pre-Series A round in August 2021.