automobiles
CDB invests $242m in VC-backed eHi Car Services
China Development Bank (CDB) has agreed to provide RMB1.5 billion ($242 million) to eHi Car Services, China’s second-largest automotive rental services provider, which is backed by several VC investors.
China auto after-sales services platform raises $60m Series C
Diandian Yangche, a VC-backed mobile app that focuses on automotive after-sales services in China, has raised a $60 million Series C round of funding from undisclosed investors.
SAIF commits $5m in Series A funding to India's Zoomo
SAIF Partners has led a $5 million Series A round of funding for YoungMonk Technologies, the start-up behind peer-to-peer (P2P) used car marketplace Zoomo.
Deal focus: Qiming sees Tuhu as agent of disruption
When it comes to using technology to disrupt China’s auto industry, private equity and venture capital funding appears to have targeted almost every corner of the space.
Hong Kong's Nest forms accelerator with Nissan
Infiniti, the luxury car unit of Japanese automaker Nissan, has teamed up with Hong Kong-based incubator Nest to launch a platform that will support start-ups developing smart city solutions.
Warburg Pincus makes partial exit from China Auto Rental
Warburg Pincus has completed a partial exit from China Auto Rental (CAR), raising HK$3.1 billion ($401 million) and reducing its stake in the company to 11%.
Deal focus: CLSA tools up with Astro Products deal
Two years ago CLSA Capital Partners made its maiden investment from Sunrise Capital II, a $210 million Japan-focused fund that launched 16 months earlier. The company was BCN, a used car auction site operator based in Saitama prefecture, which CLSA acquired...
Tiger Global joins $134m placement for China's eHi
Tiger Global has joined hedge fund SRS Partners in a $134 million stock placement for Chinese car rental service eHi Car Services.
Greenland to take controlling stake in KKR-backed Rundong Auto
China's Greenland Holding Group will buy a controlling stake in KKR-backed Chinese car dealership Rundong Auto for HKD1.55 billion ($200 million).
Actis agrees exit from India's Phoenix Lamps
Private equity firm Actis has reached an agreement to exit its stake in Indian automotive lighting manufacturer Phoenix Lamps to cable maker Suprajit Engineering.
Unison sells Asahi Tec casting assets to India's Amtek Auto
Asahi Tec, a Japanese auto-parts supplier controlled by Unison Capital, has agreed to sell a portfolio of companies covering casting and forging to India's Amtek Auto.
India's BuyingIQ bought by VC-backed CarDekho
Price comparison portal BuyingIQ has been bought for an undisclosed sum by Girnar Software, parent company of auto marketplace CarDekho, which is supported by Hillhouse Capital and Sequoia Capital.
Keytone leads $20m round for China auto service site
Keytone Ventures has led a $20 million Series A round of funding for Chemayi, a Chinese auto after-sales service platform.
Valiant backs Mahindra-owned used car trading platform
Indian used car trading platform Mahindra First Choice Wheels (MFCWL) has raised $15 million from Valiant Capital Management, a San Francisco-based hedge fund. It will take a minority stake in the business.
KKR joins $170m round for China used car trading platform
KKR has teamed up with search giant Baidu and US-based hedge fund sponsor Coatue to invest $170 million in Uxin, a Chinese online used car auction company best known for B2B platform Youxinpai.
Alibaba, SAIC Motor launch $160m internet car fund
Chinese e-commerce giant Alibaba Group and SAIC Motor, the country's largest automaker, have launched a RMB1 billion ($160 million) fund to invest in the development of internet-enabled cars.
China car-washing app raises $20m from Ping An VC
Ping An Ventures, a venture capital arm under Ping An Insurance, has provided $20 million in Series A funding for Exc118.com, a Chinese car-washing service mobile app.
Baird Capital backs China used car auction platform
Baird Capital has agreed to lead a Series A round of funding for Carsing, a Shanghai-based used car auction platform. FLAG Squadron Capital and Delta Capital are also contributing to the round.
Lightspeed invests $12m in China car after-sales platform
Lightspeed China Partners has committed $12 million to Yikuaixiu.com, a Beijing-based automotive after-sales service platform, in a Series A round of funding.
Renren backs China used car platform Cheyipai
Chinese social networking platform Renren has led $110 million Series D round of funding for Cheyipai, a Chinese second-hand car trading platform.
Gobi, ABC lead $6m Series A for China's AutoBot
Gobi Partners and ABC Capital have led a $6 million Series A round for Chinese start-up AutoBot, which makes diagnostic tools for cars.
Hillhouse leads Series B for India auto portal CarDekho
Hillhouse Capital has led a Series B round of funding worth $50 million for GirnarSoft, owner and operator of India-based automobile trading platform and information portal CarDekho.
India Value Fund completes partial exit from Mahindra CIE
India Value Fund Advisors (IVFA) has completed a partial exit from Mahindra CIE Automotive, selling a third of its stake for about INR1.3 billion ($21 million).
JD, Tencent invest $1.55b in Chinese online auto platform
Chinese online retailer JD.com and its investor Tencent Holdings have formed strategic partnership with Bitauto, committing $1.55 billion in the auto e-commerce operator and its investment unit.