January 16, 2019 Evergrande Health Industry Group Ltd said it would buy a 51 percent stake in National Electric Vehicle Sweden AB for $930 million, as the Chinese healthcare service provider continues to diversify into new energy automotive industry. Evergrande Health, a unit of property developer China Evergrande Group, said it would buy the stake in National Electric Vehicle… Continue reading China’s Evergrande Health to acquire 51% stake in Swedish EV firm for $930m
Author: Deal Street Asia Online News
SoftBank backs $44m funding in South Korean car-sharing startup SoCar
January 15, 2019 SoCar, a South Korean car-sharing company, has raised $44 million (about 50 billion won) in a new round of funding from Altos Ventures, KB Investment, Stonebridge Ventures, and SoftBank Ventures, The Investor reported. SoCar will use the fresh funding to invest in research and development to offer better mobility services through its… Continue reading SoftBank backs $44m funding in South Korean car-sharing startup SoCar
Kakao Mobility seeks to broker peace with taxi drivers protesting car-sharing service
January 15, 2019 South Korea’s Kakao Mobility on Tuesday said it would re-enter talks over its proposed car-sharing service with an open mind, and would even consider abandoning the idea, should taxi drivers who protested the service return to negotiations. The transportation unit of Kakao Corp, operator of the country’s most popular chat app, also… Continue reading Kakao Mobility seeks to broker peace with taxi drivers protesting car-sharing service
India Dealbook: Vogo, Paisadukan, Crofarm secure funding
January 15, 2019 Bike rental startup Vogo has raised $8.95 million as part of an ongoing Series B funding round while lending startup Paisadukan has secured $235,000 in its third seed funding round. In another development, Crofarm has raised $500,000 from a clutch of investors. Vogo raises $8.95m Series B Bengaluru-based bike rental startup Vogo has… Continue reading India Dealbook: Vogo, Paisadukan, Crofarm secure funding
Flipkart co-founder Sachin Bansal invests $21m in Ola, may inject more
January 14, 2019 Flipkart co-founder Sachin Bansal has invested $21 million in India’s largest cab-hailing platform Ola (ANI Technologies Pvt Ltd), marking his first investment following his ouster from Flipkart, which resulted in him selling his stake in the online retailer for nearly $1 billion. Part of a bigger round, Bansal is expected to infuse… Continue reading Flipkart co-founder Sachin Bansal invests $21m in Ola, may inject more
India: Ola’s valuation skyrockets to $5.7b after fresh funding from Steadview
January 10, 2019 Ola has regained its number two ranking in the pecking order of India’s most valuable startups, after securing $74 million in fresh funding from existing investor Steadview Capital in its latest funding round, which valued India’s leading cab-hailing service at roughly $5.7 billion. Ola, which has been in talks to raise at… Continue reading India: Ola’s valuation skyrockets to $5.7b after fresh funding from Steadview
China Digest: 360 Enterprise closes $132m Series B; LiDAR maker Benewake raises funds
January 9, 2019 China’s internet security firm 360 Enterprise Security Group has completed a $131.2-million Series B round while LiDAR-maker Benewake also announced its Series B2 financing. 360 Enterprise closes $132m Series B 360 Enterprise Security Group, a Chinese B2B internet security software provider, has closed a Series B financing round worth 900 million yuan… Continue reading China Digest: 360 Enterprise closes $132m Series B; LiDAR maker Benewake raises funds
China: SenseTime backs WeRide; Starquest leads funding for Miaoshou Doctor
January 9, 2019 Autonomous driving startup WeRide has announced fresh investments from artificial intelligence (AI) unicorn SenseTime and a subsidiary of the Agricultural Bank of China, while Starquest Capital has led a 500 million-yuan ($72.77 million) Series C+ round of financing for Miaoshou Doctor. SenseTime invests in WeRide Level 4 autonomous driving startup WeRide (formerly known… Continue reading China: SenseTime backs WeRide; Starquest leads funding for Miaoshou Doctor
Chinese EV startup Byton seeks to raise $500m to fund growth
January 8, 2019 Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly three-year-old company at more than $4 billion, two people familiar with the matter told Reuters. The latest round of fundraising comes as China’s government promotes new energy vehicles (NEVs), a category comprising battery-powered… Continue reading Chinese EV startup Byton seeks to raise $500m to fund growth
India: Cloud kitchen InnerChef raises $6.5m in pre-Series B funding round
January 8, 2019 Shared cloud kitchen platform InnerChef India Pvt. Ltd has raised $6.5 million in a pre-Series B round led by Taizo Son’s Mistletoe Inc. and Das Capital, the company said. Existing investors who participated in the round include Mohan Das Pai’s Saha Fund, and M&A Partners. The funds will be used for brand… Continue reading India: Cloud kitchen InnerChef raises $6.5m in pre-Series B funding round