China’s Kasco, also known as KH Automobile Technology (Zhejiang KHAT), which produces air suspension system for passenger vehicles, has notched RMB 510 million ($72.4 million) in a Series B led by China Venture Capital, a joint venture between CRRC Corp and Guochuang Investment Fund Manager, Source Code Capital, and Shenzhen Capital Group. The round, participated… Continue reading China’s auto parts maker Kasco snaps $72m in a Series B round
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Kotak Investment Advisors raises $500m from ADIA for India-focused, $1b real estate fund
Kotak Investment Advisors Ltd (KIAL), the alternative assets arm of Kotak Mahindra Group, which is backed by one of Asia’s richest bankers Uday Kotak, on Tuesday said it has secured $500 million from a subsidiary of Abu Dhabi Investment Authority (ADIA) for its new $1 billion real estate fund. With the new fund, Kotak aims… Continue reading Kotak Investment Advisors raises $500m from ADIA for India-focused, $1b real estate fund
BasiGo to kick-off EV assembly in Kenya after $6.6M funding
BasiGo will begin assembling electric buses in Kenya from next month, ramping up its production of public transport vehicles (PSVs) as it targets to deliver 100 units by end of next year. The startup plans to deliver 15 of the 100 buses, manufactured using parts from China’s EV maker BYD Automotive, in January next year,… Continue reading BasiGo to kick-off EV assembly in Kenya after $6.6M funding
Helbiz sees losses in mobility revenue, slight gains in streaming
Helbiz’s third quarter earnings show a company that’s burning cash, not making revenue gains and losing riders year over year. However, Helbiz’s burgeoning sports streaming service did realize some small gains. The micromobility SPAC reported its Q3 earnings Monday, the same day as its only public market competitor, Bird. Neither company is performing well operationally… Continue reading Helbiz sees losses in mobility revenue, slight gains in streaming
Twitter fired employees who publicly called out Elon Musk
At least three Twitter employees who survived the mass layoffs that cut the company’s workforce in half have been fired after calling out their new boss on the platform. One of them is Eric Frohnhoefer, who responded to Elon Musk’s tweet apologizing for Twitter being slow in many countries. “App is doing >1000 poorly batched… Continue reading Twitter fired employees who publicly called out Elon Musk
Asia Digest: Dubai’s Silkhaus raises seed round; Velocity Ventures backs NZ’s CarbonClickSilkhaus plans to expand to South Asia, Southeast Asia, and t…
Dubai-based platform for short-term rentals Silkhaus has raised $7.75 million, while Singapore-based venture capital firm Velocity Ventures has invested an undisclosed sum in New Zealand’s enviro-tech company CarbonClick. Dubai-based Silkhaus raises $7.75m seed round Dubai-based Silkhaus, a platform for short-term rentals, has raised $7.75 million in a seed funding round to expand to South Asia,… Continue reading Asia Digest: Dubai’s Silkhaus raises seed round; Velocity Ventures backs NZ’s CarbonClickSilkhaus plans to expand to South Asia, Southeast Asia, and t…
India’s Foods & Inns raises $26m from Florintree Digital, Lotus Family Trust, others
Foods & Inns Limited, one of India’s largest fruit and vegetable pulpers, has raised about $26 million (Rs210 crores) in growth capital from investors including Florintree Digital LLP, Lotus Family Trust, and Aeon Trading, it announced on Tuesday. The financing round was also joined by Silver Stallion Ltd., VSS Iron & Minerals Pvt. Ltd., and… Continue reading India’s Foods & Inns raises $26m from Florintree Digital, Lotus Family Trust, others
Sinovation Ventures raises $203m so far for fifth flagship venture fund
Sinovation Ventures, the Chinese venture capital firm founded by former Google executive Kai-Fu Lee, has so far raised $203 million for its fifth flagship venture vehicle, Sinovation Fund V, its filing with the US Securities and Exchange Commission (SEC) showed. SEC filings typically represent only the capital raised from investors in the US. Go to… Continue reading Sinovation Ventures raises $203m so far for fifth flagship venture fund
Australia’s Vow scores $49.2m Series A, plans to bring cultured meat to Singapore
Australian alternative protein company Vow has announced raising $49.2 million in a Series A funding round co-anchored by venture capital investors Blackbird and Prosperity7 Ventures. Toyota Ventures, HostPlus Super, NGS Super, and Pavilion Capital also participated in the funding round that comes almost two years after Vow raised $6 million in seed funding, backed by… Continue reading Australia’s Vow scores $49.2m Series A, plans to bring cultured meat to Singapore
Elon Musk: ‘I have Tesla covered too’ as he sleeps at Twitter HQ
Tesla investors are starting to get increasingly concerned that Elon Musk’s focus on Twitter is taking him away from the automaker as its stock is falling. The CEO tried to reassure shareholders saying that he has ‘Tesla covered’, but he also said that he is sleeping at Twitter’s headquarters “until the social media is fixed”.… Continue reading Elon Musk: ‘I have Tesla covered too’ as he sleeps at Twitter HQ