Taiwanese electric scooter maker Gogoro, which is partly backed by Singapore state investor Temasek, said on Thursday that it will go public through a merger with a blank-check company in a deal that sets its enterprise value at $2.35 billion. Gogoro – which has been pushing to expand overseas – will merge with Poema Global Holdings Corp,… Continue reading Taiwanese electric scooter maker Gogoro to go public via $2.35b SPAC deal
Author: Deal Street Asia Online News
Xpeng Heitech seeks to deliver flying cars to customers in 2024
Xpeng Heitech, a flying car startup backed by electric vehicle maker Xpeng Inc, said on Wednesday that it would deliver flying cars to customers in 2024. The startup, founded in 2013 and funded by Xpeng and Xpeng‘s Chief Executive He Xiaopeng, now employs 400 people and will expand workforce to have 700 people by the end of this year, company’s founder Zhao Deli told World New Energy Vehicle Congress. Xpeng Heitech’s model… Continue reading Xpeng Heitech seeks to deliver flying cars to customers in 2024
Chinese EV maker Xpeng says it may consider acquisitions to expand capacity …
Chinese electric vehicle maker Xpeng Inc would consider acquiring less successful rivals to expand production capacity in the future, company President Brian Gu told reporters during a conference call. Xpeng is building two new factories in China. At the same time, the Chinese government is signaling it wants to see consolidation in the Chinese electric vehicle sector to… Continue reading Chinese EV maker Xpeng says it may consider acquisitions to expand capacity …
Cash-strapped Evergrande warns of growing default risks as pressures mount
Cash-strapped property group China Evergrande Group said on Tuesday it has engaged advisers to examine its financial options and warned of default risks amid plunging property sales, sending its stock and bond prices sharply lower. The real estate giant has been scrambling to raise funds it needs to pay lenders and suppliers, with regulators and financial markets worried that any… Continue reading Cash-strapped Evergrande warns of growing default risks as pressures mount
Self-driving startup DeepRoute.ai nets over $300m Series B from Alibaba, others …
Self-driving technology developer DeepRoute.ai announced on Tuesday the completion of a Series B funding round at over $300 million, as the startup continues its commitment to advancing urban logistics and popularising robotaxis. The oversubscribed round was led by Chinese e-commerce giant Alibaba Group, with participation from Asia-based growth capital investor Jeneration Capital and a fund… Continue reading Self-driving startup DeepRoute.ai nets over $300m Series B from Alibaba, others …
German-Chinese startup Agile Robots raises $220m led by SoftBank Vision Fund 2 …
German-Chinese startup Agile Robots said on Thursday that it had raised $220 million from investors led by the SoftBank Vision Fund 2 and would invest the proceeds in expanding its production and sales operations. The investment round valued Agile Robots, which has dual headquarters in Munich and Beijing, at more than $1 billion – adding… Continue reading German-Chinese startup Agile Robots raises $220m led by SoftBank Vision Fund 2 …
Asia Digest: Blockchain firm SubQuery raises $9m; AirBolt closes $1.5m seed round …
New Zealand-based blockchain startup SubQuery bagged $9 million in a funding round, while the Australian smart lock creator AirBolt has raised $1.5 million. New Zealand blockchain startup SubQuery raises $9m SubQuery, a New Zealand-based startup that aggregates data for decentralised app developers on the Polkadot protocol, has bagged $9 million in a round co-led by… Continue reading Asia Digest: Blockchain firm SubQuery raises $9m; AirBolt closes $1.5m seed round …
Bangladesh’s B2B commerce startup ShopUp announces $75m round led by Valar Ventures
Bangladesh-based business-to-business (B2B) commerce startup ShopUp on Tuesday announced it has raised $75 million in a Series B round led by Valar Ventures. DealStreetAsia had first reported the details of the funding round, including the lead investor and other backers, last week. ShopUp, which is focused on digitalising mom-and-pop shops in the country, raised funds… Continue reading Bangladesh’s B2B commerce startup ShopUp announces $75m round led by Valar Ventures
Asia Digest: Loan platform Jeff App, Pakistan’s Truck It In bag funds in extension rounds …
Loan brokerage platform Jeff App has raised $1.5 million and plans to expand its business outside of Vietnam. Meanwhile, Pakistan-based Truck It In has completed its pre-seed round at $4.5 million. Fintech startup Jeff App nets $1.5m for SE Asia expansion Jeff App, a Latvian loan brokerage platform that has operations in Vietnam, has bagged… Continue reading Asia Digest: Loan platform Jeff App, Pakistan’s Truck It In bag funds in extension rounds …
Didi’s ride-hailing rival Cao Cao Mobility raises $600m to fund expansion
Geely’s Cao Cao Mobility said on Monday that it had raised 3.8 billion yuan ($589 million) to fund expansion, amid competition to grab market share from China’s embattled ride-hailing leader Didi Global Inc. Cao Cao‘s funding round comes as New York-listed Didi faces a cybersecurity investigation by Chinese authorities. Along with other ride-hailing companies, including Meituan’s, Cao Cao is offering promotions to… Continue reading Didi’s ride-hailing rival Cao Cao Mobility raises $600m to fund expansion