Singapore-based used car marketplace Carro has raised $25 million in fresh funding from Indonesia-listed consumer automotive company MPM Group, according to regulatory filings. Strategic investor MPM Group, a subsidiary of Indonesian conglomerate Saratoga Investama Sedaya, is engaged in automotive distribution, retail, aftermarket, insurance and transportation. Go to Source
Author: Deal Street Asia Online News
EV Growth-backed IDN Media raises $23m in Series D funding
Indonesian media startup IDN Media has raised $23 million in Series D funding backed by existing investor East Ventures, according to regulatory filings. The company’s recent filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA), accessed by DealStreetAsia – DATA VANTAGE, showed that it issued about 1.5 million Series D preferred shares to six investors at $15… Continue reading EV Growth-backed IDN Media raises $23m in Series D funding
Vietnam-focused PENM Partners resumes raising fifth fund after COVID-induced delay
Danish private equity firm PENM Partners, which is focused on the Vietnam market, is set to resume raising its fifth fund this year or early next year, after a long delay due to COVID-19, said a top executive at the firm. PENM V will seek to raise $150-200 million, Hans Christian Jacobsen, managing partner of… Continue reading Vietnam-focused PENM Partners resumes raising fifth fund after COVID-induced delay
After Nio, Xpeng, Chinese EV maker WM Motor looks to list in Hong Kong …
Money-losing electric vehicle startup WM Motor Holdings Ltd. has filed for a Hong Kong IPO to fuel its expansion, as a flood of cashed-up industry newcomers such as Baidu and Xiaomi intensify already fierce competition. With the application, filed to the Hong Kong Stock Exchange on Wednesday, WM is following in the footsteps of its larger Chinese peers Nio… Continue reading After Nio, Xpeng, Chinese EV maker WM Motor looks to list in Hong Kong …
Indonesia’s Traveloka in talks to raise over $200m from BlackRock, others
Indonesian online travel unicorn Traveloka is in talks with investment management company BlackRock and others for a funding round of more than $200 million, sources privy to the matter said. Sources have indicated that Indonesia Investment Authority (INA), the country’s newly-formed sovereign wealth fund, is also in talks to join the round. However, no final… Continue reading Indonesia’s Traveloka in talks to raise over $200m from BlackRock, others
Investors push SE Asia’s ride-hailing firms towards green mobility
Southeast Asian ride-hailing and food delivery services are racing toward eco-friendly mobility, with targets to deploy more electric and low-emission vehicles as governments and investors push for greener economies. Singapore’s Grab recently pledged to transition to low-emission vehicles to achieve carbon neutrality by 2040, the initial step being to replace its ride-hailing fleet in the… Continue reading Investors push SE Asia’s ride-hailing firms towards green mobility
Singapore-based digital assets exchange Zipmex eyes Vietnam foray
Taking a cue from the high adoption rate of crypto-currencies in Vietnam, digital assets exchange Zipmex is planning a foray into the Southeast Asian country. The startup — backed by Thailand’s Bank of Ayudhya, among other investors — currently operates in Australia, Thailand, Indonesia, and also Singapore, where it is headquartered. The roughly 1 million… Continue reading Singapore-based digital assets exchange Zipmex eyes Vietnam foray
India’s cyber rules will “create environment of fear rather than trust”, say tech firms …
Indian cybersecurity rules due to come into force later this month will create an “environment of fear rather than trust”, a body representing top tech companies has warned the government, calling for a one-year delay before the rules take effect. The Internet and Mobile Association of India (IAMAI), which represents firms including Facebook, Google, and Reliance, wrote… Continue reading India’s cyber rules will “create environment of fear rather than trust”, say tech firms …
Alibaba’s Southeast Asian arm Lazada appoints James Dong as CEO
Lazada, Alibaba’s Southeast Asian arm, appointed James Dong as chief executive officer on Friday as the Chinese e-commerce giant seeks to expand abroad in the face of tight competition at home. Dong joined Lazada in 2018 to lead its Thailand and Vietnam businesses. He was previously the head of globalization strategy and corporate development at Alibaba. In April, Reuters reported that… Continue reading Alibaba’s Southeast Asian arm Lazada appoints James Dong as CEO
Waiting period for Elon Musk’s deal has expired, says Twitter
Twitter Inc said on Friday the waiting period under the HSR Act for Elon Musk’s $44-billion acquisition of the social media firm has expired. Completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter stockholders and the receipt of applicable regulatory approvals, Twitter said. The HSR Act, or the… Continue reading Waiting period for Elon Musk’s deal has expired, says Twitter