Pakistan-based last-mile delivery provider Rider has bagged $2.3 million in a seed funding round; while South Korean travel platform Yanolja will acquire 70% stake in the country’s e-commerce pioneer, Interpark, for about $250 million. Pakistan’s Rider bags $2.3m seed funding Pakistan’s last-mile delivery provider Rider has bagged $2.3 million in a seed funding round led… Continue reading Asia Digest: Pakistan’s Rider bags $2.3m; S Korea’s Yanolja buys Interpark
Author: Deal Street Asia Online News
XPeng’s Xiaopeng Heitech secures over $500m in Series A co-led by IDG …
Xiaopeng Heitech, a subsidiary of China’s leading electric vehicle (EV) manufacturer XPeng Motor, has raked in over $500 million in its Series A round. The parent company XPeng alongside IDG Capital and 5Y Capital has co-led the fresh round, while other investors include Sequoia Capital China, GGV Capital, Eastern Bell Capital, Hillhouse Capital’s GL Ventures… Continue reading XPeng’s Xiaopeng Heitech secures over $500m in Series A co-led by IDG …
Asia Digest: SG’s Fat Projects Acquisition raises $100m; K Car mops up $285m in IPO
SG-based SPAC firm Fat Projects Acquisition Corp has announced the closing of its $100-million IPO while K Car, a South Korean automotive marketplace fully owned by private equity firm Hahn & Company, has raised $285 million in its IPO. SG’s Fat Projects Acquisition raises $100m IPO Singapore-headquartered investment and venture studio Fat Projects Acquisition Corp… Continue reading Asia Digest: SG’s Fat Projects Acquisition raises $100m; K Car mops up $285m in IPO
Vietnamese carmaker Vinfast eyes start of US deliveries in late 2022
Vietnamese automaker Vinfast will begin taking pre-orders in the U.S. market for its VF e35 and e36 electric SUVs in the first half of 2022 and expects to begin delivering them by the end of the year, global Chief Executive Michael Lohscheller said. “It’s still early to make any sales predictions, but VinFast will unveil two of our latest… Continue reading Vietnamese carmaker Vinfast eyes start of US deliveries in late 2022
CarDekho is eyeing a public listing in the next 18 months, says CEO Jain
The plans for the initial public offering (IPO) are currently being discussed by the company’s board, said Amit Jain, co-founder and chief executive at CarDekho. “We will now begin the processes and compliance from a regulatory perspective for the IPO. Markets are always favourable to a good company. At present, our business lines of selling… Continue reading CarDekho is eyeing a public listing in the next 18 months, says CEO Jain
Tata Motors raises $1b from TPG, ADQ for electric vehicle business
Indian automaker Tata Motors has raised about $1 billion from private equity firm TPG’s Rise Climate Fund and Abu Dhabi state holding company ADQ to expand its electric vehicle business, the company said on Tuesday. Tata Motors will form a separate electric vehicle unit in which TPG and ADQ will hold between 11% and 15%, valuing the new entity at… Continue reading Tata Motors raises $1b from TPG, ADQ for electric vehicle business
Automotive industry-focused software firm NeuSAR bags $101m led by CMG-SDIC
NeuSAR, a unit of the Chinese software major Neusoft Corporation, announced on Monday that it has closed its maiden round of financing, raising 650 million yuan ($101 million). State-backed CMG-SDIC Capital led the round with participation from automotive industry-focused Virtue Capital. CMG-SDIC Capital picked up a 9.3% stake in NeuSAR for an investment of 600 million… Continue reading Automotive industry-focused software firm NeuSAR bags $101m led by CMG-SDIC
Chinese miner Zijin to acquire Canada’s Neo Lithium in $737m deal
China’s Zijin Mining Group Co Ltd will buy Canada’s Neo Lithium Corp for C$918.7 million ($737.14 million)the companies said on Friday. Zijin has agreed to buy Argentina-focused lithium company, Neo Lithium at a price of C$6.50 per share in cash, the companies said in a joint statement. The offer represents a premium of over 18% to Neo Lithium‘s last close of C$5.49 on Friday. Neo Lithium said… Continue reading Chinese miner Zijin to acquire Canada’s Neo Lithium in $737m deal
China’s WM Motor to raise $500m in Series D funding amid clouds over STAR Market IPO
Chinese electric vehicle (EV) brand WM Motor is close to raising about $500 million in new funding, even as the firm faces a bumpy ride in its efforts to go public on Shanghai’s Nasdaq-style STAR Market. In a statement on Tuesday, WM Motor said that it expected to secure over $300 million in a Series… Continue reading China’s WM Motor to raise $500m in Series D funding amid clouds over STAR Market IPO
India: Ola acquires GeoSpoc to develop next-generation location technology …
Ola, India’s largest mobility platform, on Tuesday, said it has acquired GeoSpoc, a leading geospatial services provider in India. Making the announcement on a blog post, Bhavish Aggarwal, co- founder and CEO, Ola said, “Dhruva and his team of Geospatial scientists and engineers will be joining Ola to develop technologies which will make mobility universally… Continue reading India: Ola acquires GeoSpoc to develop next-generation location technology …