Transportation
Integral makes partial exit from Japan’s Skymark
Japanese private equity firm Integral Corporation has sold most of its remaining position in Skymark Airlines, the budget air carrier it took public in December last year.
Navegar leads Series C for Singapore's Inteluck
Philippines private equity firm Navegar has led a USD 34m Series C round for Singapore-based supply chain technology provider Inteluck with support from East Ventures.
Korea's STIC to exit biofuels player to PE-backed consortium
Korea’s STIC Investments has agreed to sell biofuels producer Daekyung Oil & Transportation to a consortium backed by SK Group, Korea Development Bank (KDB), and Eugene Private Equity.
Japanese autonomous trucking start-up raises $24m
T2, a Japanese autonomous driving start-up that focuses on trucking, has raised JPY 3.5bn (USD 24.1m) in Series A funding from a combination of financial and strategic investors.
China carpooling player Dida revives Hong Kong IPO bid
Dida, a PE-backed Chinese car-pooling and ride-hailing platform, has filed to list in Hong Kong – for the fourth time in three years. There are records of lapsed registrations from 2020, 2021, and earlier in 2023.
Japan's PowerX raises $32m Series B
PowerX, a Japanese start-up developing a “battery tanker” for shipping stored renewable electricity across oceans, has raised a USD 32m Series B round featuring US-based Translink Capital.
PE-linked SPAC to merge with China ride-hailing business
A special purpose acquisition company (SPAC) led by two Chinese private equity investors has agreed to merge with local ride-hailing business Wanshun Technology Industrial Group in a deal that values the target at approximately USD 300m.
Malaysia's Vynn achieves first close on second VC fund
Malaysia-based early-stage investor Vynn Capital has reached a first close of unspecified size on its second fund, with strong support from corporates and family offices in Southeast Asia.
China ride-hailing platform T3 gets $140m Series A extension
T3 Go, a Chinese ride-hailing platform looking to challenge incumbent market leader Didi Chuxing, has raised more than CNY 1bn (USD 140m) in an extended Series A round of funding.
Eurazeo draws on Asian support for $448m smart city fund
France-based GP Eurazeo won support from several Asian institutional investors for its latest smart city fund, which has closed on EUR 400m (USD 445m). The vehicle is also expected to deploy significantly in the region.
China autonomous driving player HoloMatic raises $42m
HoloMatic, a Chinese autonomous driving start-up, has raised CNY300m (USD 42m) in Series C funding led by GAC Capital and state-owned Guangdong Technology Financial Group.
Fund focus: Australia’s Next thrives under the radar
Next Capital claims to have relatively free rein in Australia’s underpenetrated lower middle market. Dedication to the opportunity set underpinned a painless fundraising process for its latest vehicle
India's LetsTransport gets $25m Series D
Bertelsmann India Investments has led a USD 25m Series D round for LetsTransport, a platform that aims to integrate independent truckers into the mainstream economy.
Deal focus: Aerofugia wins support for eVTOL tilt
China’s Tsinghua Holdings Capital (TH Capital) regards eVTOL as the best way to leverage electrification of the skies. Aerofugia became a preferred target by virtue of its Geely ties and commitment to tilt-rotor technology
Geely's China eVTOL unit gets Series A funding
Aerofugia, a subsidiary of Chinese automaker Geely that focuses on electric vertical take-off and landing (eVTOL) vehicles, has raised a Series A round of CNY 100m (USD 13.8m) led by Tsinghua Holdings Capital.
Japan's Terra Motors raises $28m
Japanese electric vehicle (EV) start-up Terra Motors has raised JPY 40bn (USD 28m) in Series C funding featuring Silicon Valley-based Pegasus Tech Ventures.
China UAV developer United Aircraft raises $167m
United Aircraft, a Chinese start-up specialising in unmanned aerial vehicles (UAVs), has raised CNY 1.2bn (USD 167m) in Series D funding from several local investors.
GGV, Soul Capital lead Series B for China's Yunmanman
Yunmanman, a cold-chain logistics start-up incubated by trucking platform Manbang, has raised a Series B round of several hundred million renminbi led by GGV Capital and Soul Capital. Xiang He Capital also took part.
Uber leads $20m round for India’s Everest Fleet
Uber has led a USD 20m round for India’s Everest Fleet, an existing VC-backed partner in the local taxi management service space that is transitioning into electric vehicles.
Deal focus: Chalo thinks beyond the bus stop
India bus-tracking app Chalo is helping fleet operators eliminate fraud and improve efficiency while giving passengers greater visibility on services. It is keen to scale – geographically and vertically
Avataar leads $45m round for India's Chalo
Avataar Venture Partners, an India-based investor in growth-stage B2B technology and software-as-a-service (SaaS) companies, has led a USD 45m funding round for bus tracking app Chalo.
CLSA exits Japan parking lot operator to Advantage
CLSA Capital Partners (CLSA CP) has agreed to sell Japanese coin-operated parking lot business Ecolocity to Advantage Partners for an undisclosed sum.
India EV player BluSmart raises $42m
India’s BluSmart, an integrated electric vehicle (EV) ride-hailing and charging business, has raised USD 42m in a funding round featuring BP Ventures.
Japan e-scooter maker raises $33.7m
Japanese e-scooter maker and urban shared micro-mobility developer Luup has raised a JPY 4.5bn round led by local VC firm Spiral Capital.