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
Author: Deal Street Asia Online News
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 …
China’s battery-swap solutions provider Aulton raises $232m …
Shanghai-based battery swap solutions provider Aulton New Energy Automotive Technology has pocketed 1.5 billion yuan ($232 million) in a Series B round of financing, it said in a WeChat post on Wednesday. Government-led funds Guangzhou Financial Holdings and Guangzhou Geth Holdings, alongside state-backed Sinopec Capital’s sub-fund Enze Capital jointly led the fresh round. Other investors… Continue reading China’s battery-swap solutions provider Aulton raises $232m …
India’s Ola Electric raises $200m round led by Falcon Edge, Softbank, others
Ola Electric, India’s leading electric vehicles manufacturer, today announced that it has raised over $200 million in a funding round, led by Falcon Edge, Softbank and others. The latest funding round took the company’s valuation to $3 billion. Ola Electric, the EV arm of the ride-hailing startup Ola, said, the current round will help it… Continue reading India’s Ola Electric raises $200m round led by Falcon Edge, Softbank, others
BP Ventures invests $25m in Indian EV ride-hailing startup BluSmart …
BP Ventures, the venture capital firm of energy major BP, has invested $13 million in integrated EV ride-hailing and charging company BluSmart. It is BP Ventures’ first direct investment in India. It led a $25 million Series A round that also saw support from Mayfield India Fund, 9Unicorns, and Survam Partners, alongside other existing investors.… Continue reading BP Ventures invests $25m in Indian EV ride-hailing startup BluSmart …
Chinese battery maker CATL to acquire Canada’s Millennial Lithium …
Canada’s Millennial Lithium Corp said late Tuesday Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL) has agreed to buy the miner for C$376.8 million ($297.3 million), after outbidding compatriot Ganfeng Lithium. CATL had proposed an offer of C$3.85 per share in cash earlier this month, Argentina-focused Millennial Lithium said, outbidding the C$3.60 per share offer made in… Continue reading Chinese battery maker CATL to acquire Canada’s Millennial Lithium …
China Evergrande to sell $1.5b stake in Shengjing Bank to state firm
Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group said on Wednesday it plans to sell a 9.99 billion yuan ($1.5 billion) stake in Shengjing Bank Co Ltd to a state-owned asset management company. Shengjing Bank, one of the main lenders to Evergrande, had demanded that all net proceeds from the disposal be used to settle the… Continue reading China Evergrande to sell $1.5b stake in Shengjing Bank to state firm
Bosch launches Boyuan Capital, hits first close of China-focused RMB fund
Boyuan Capital, set up by global engineering and technology giant Bosch for technology bets in China, has launched its RMB-denominated fund seeking to raise as much as 1 billion yuan ($155 million), per a company statement on Monday. The vehicle, named Bosch China Growth Fund I, has reached the first close from limited partners including… Continue reading Bosch launches Boyuan Capital, hits first close of China-focused RMB fund