Author: Deal Street Asia Online News

EV startup Simple Energy raises $21m funding and 19 other India deals

Premium Bengaluru-based electric vehicle startup Simple Energy has raised $21 million (Rs 155 crore) in a pre-series investment round, it said in an announcement. The oversubscribed funding round was driven by the company’s current investors and board members, Manish Bharti of UiPath and Raghunath Subramanian, non-executive chairman, UiPath India, respectively, the startup said in a… Continue reading EV startup Simple Energy raises $21m funding and 19 other India deals

AV startup MooVita scores fresh funding and other SE Asia deals

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading AV startup MooVita scores fresh funding and other SE Asia deals

Indian EV maker Euler Motors raises additional $10m

Source: Euler Motors website Euler Motors has raised an additional $10 million led by the Delhi-based QRG Investments and Holdings today. Euler Motors also plans to further raise $50 million in its Series B round in the coming year. The company plans to utilise these funds to scale up and strengthen its production capacity to deliver… Continue reading Indian EV maker Euler Motors raises additional $10m

China Evergrande sells entire stake in streaming firm HengTen for $273m

Cash-strapped developer China Evergrande Group said on Thursday it is selling its entire stake in film and television streaming company HengTen Network Holdings for HK$2.13 billion ($273.5 million). Evergrande, the world’s most indebted developer, said it would realise a loss of HK$8.5 billion from the sale of its stake in HengTen, in which Chinese gaming and social media giant Tencent Holdings holds around a 20% share. The Shenzhen-based real… Continue reading China Evergrande sells entire stake in streaming firm HengTen for $273m

Vietnam’s Vinfast plans US listing in a couple of years, says CEO …

Vietnamese automaker VinFast plans to list on the U.S. stock market within the next couple of years, its chief executive told Reuters, joining a growing list of electric vehicle startups taking advantage of investor excitement to raise money. VinFast, established in 2017 as part of Vingroup JSC, the largest conglomerate in the Communist-ruled country, also… Continue reading Vietnam’s Vinfast plans US listing in a couple of years, says CEO …

As Evergrande scrambles to pay debts, its chief’s luxury assets come into focus

As developer China Evergrande Group scrambles to meet its debt obligations, its founder is freeing up funds from luxury assets including art, calligraphy and two high-end homes, according to filings and a person with knowledge of the matter. Chinese authorities have told Evergrande chairman Hui Ka Yan, 63, to use some of his personal wealth to help pay bondholders,… Continue reading As Evergrande scrambles to pay debts, its chief’s luxury assets come into focus

Grab’s Q3 net loss widens to $988m, revenue down by 9%

Singapore-headquartered ride-hailing and deliveries company Grab on Thursday said it has reported a net loss of $988 million in the third quarter of this year, up 59% from a net loss of $621 million in the same period last year, according to its report on the third-quarter earnings. The company said its Q3 losses widened… Continue reading Grab’s Q3 net loss widens to $988m, revenue down by 9%

India: Zoomcar raises $92m led by US-based SternAegis Ventures

SternAegis acted as the exclusive placement agent for this offering and ThinkEquity acted as a special advisor. Zoomcar intends to use the proceeds from this financing to grow its car-sharing marketplace in India and markets across Asia and the MENA region. It said it will continue to invest in its advanced engineering and data science… Continue reading India: Zoomcar raises $92m led by US-based SternAegis Ventures

Vietnam’s VinFast to make over $200m capital investment in California

Vietnamese automaker VinFast said on Friday it will make over $200 million in capital investments and place its U.S. headquarter in California as part of its plan to expand operation in North America. VinFast, the automobile arm of Vietnam’s largest conglomerate Vingroup, became the country’s first fully fledged domestic car manufacturer when its gasoline-powered models… Continue reading Vietnam’s VinFast to make over $200m capital investment in California