United Arab Emirates-based AUM Ventures has launched a $30-million debut venture capital fund targeting tech-enabled, innovation-backed and consumer-focused Indian startups. The firm has received an anchor commitment from a prominent Dubai-based family office and is targeting global family offices/HNIs to subscribe to the fund, AUM Ventures founding partner Chetan Mehta told DealStreetAsia. To date, AUM… Continue reading UAE based AUM Ventures launches $30m India-focused fund
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Lyft is recycling its e-bike and scooter batteries with ex-Tesla founder’s firm
/ The companies will work together to collect, process, and recycle the batteries from Lyft’s shared micromobility operations, which includes popular systems like Citi Bike in New York City. Photo by: Lindsey Nicholson / UCG / Universal Images Group via Getty Images Lyft is partnering with Redwood Materials, a battery recycling company founded by a… Continue reading Lyft is recycling its e-bike and scooter batteries with ex-Tesla founder’s firm
Tuesday’s top tech news: Twitter rebuilds
Filed under: After cutting two-thirds of its workforce, Elon Musk’s Twitter is ready to hire. By Verge Staff 3 updates since Nov 21, 2022, 3:15 PM UTC RSS Follow this stream Illustration by Laura Normand / The Verge Since Elon Musk took control of Twitter, the overriding theme has been job cuts. Thousands were fired… Continue reading Tuesday’s top tech news: Twitter rebuilds
Asia Digest: PAG, Gaw Capital among Global Switch bidders; CoverGo raises $15mKKR, EQT, Gaw Capital, PAG, and Stonepeak are among the bidders selected…
Asian buyout forms PAG and Gaw Capital are among the bidders finalised UK-based data centre company Global Switch Holdings. Separately, insurance SaaS platform CoverGo has raised $15 million in Series A funding round. KKR, EQT in race for Global Switch Private equity firms including EQT and are among bidders shortlisted to buy data centre company Global Switch… Continue reading Asia Digest: PAG, Gaw Capital among Global Switch bidders; CoverGo raises $15mKKR, EQT, Gaw Capital, PAG, and Stonepeak are among the bidders selected…
Indonesia’s SIRCLO sacks 8% staff, citing unfavourable economic conditions
Indonesian e-commerce enabler SIRCLO has laid off 160 employees, or 8% of its staff, as part of efforts to adapt to unfavourable macroeconomic conditions, the company announced on Tuesday. The announcement comes amid a string of layoffs at tech startups across Indonesia and the rest of Southeast Asia as economic headwinds impacted their growth and… Continue reading Indonesia’s SIRCLO sacks 8% staff, citing unfavourable economic conditions
IFC weighs $40m senior loan for Bangladeshi lender Dutch Bangla Bank
World Bank Group member International Finance Corporation (IFC) has proposed to extend up to $40 million in senior unsecured loans to Dutch Bangla Bank Limited (DBBL), one of the largest banks in Bangladesh. In a disclosure, IFC said the proposed investment is a 3-year senior unsecured loan with an annual amortizing and an unfunded facility… Continue reading IFC weighs $40m senior loan for Bangladeshi lender Dutch Bangla Bank
GLP’s China logistics Fund IV hits $1.2b in first close
GLP, a global real estate logistics giant, has notched up $1.2 billion for the initial closing of its fourth China value-add logistics fund, accounting for 46% of its $2.6-billion fund size. Sponsoring GLP China Value-Add Partners IV (GLP CVA IV) were GLP’s long-term institutional investment partners, including APG Asset Management, the investment vehicle of an… Continue reading GLP’s China logistics Fund IV hits $1.2b in first close
Mazda to invest $11b by 2030 to electrify its vehicles, boost battery production
Japan’s Mazda Motor Corp. will invest about $10.58 billion to electrify its vehicles, including boosting production of battery EVs, and aims to increase their share in the company’s overall global car sales by 2030. Mazda’s senior managing executive officer Akira Koga said the investment would be made along with its “partners”, without elaborating, and will… Continue reading Mazda to invest $11b by 2030 to electrify its vehicles, boost battery production
Musk antagonist George Hotz hired to fix Twitter search — he’s got 12 weeks
/ The former iPhone hacker and self-driving car developer wants to fix Twitter’s search and get rid of the login prompt. So he’s accepted a 12 week ‘internship.’ Hotz demonstrating his former company’s advanced driver assistance technology.Photo by Michael Zelenko / The Verge George Hotz, the noted iPhone hacker who was reported to have once… Continue reading Musk antagonist George Hotz hired to fix Twitter search — he’s got 12 weeks
Leta, a Kenyan supply chain and logistics SaaS provider, raises $3M to scale in Africa
Leta, a Kenyan B2B supply chain and logistics SaaS provider launched last year to optimize fleet management, is looking for growth opportunities in West Africa, even as it scales operations in its existing five markets. Leta’s proprietary route and load optimization technology is designed to boost efficiency in the delivery of goods to customers, and… Continue reading Leta, a Kenyan supply chain and logistics SaaS provider, raises $3M to scale in Africa