Transportation
PE-backed Grab to buy Uber's Southeast Asia operation
Grab, a private equity-backed ride-hailing platform headquartered in Singapore, has agreed to acquire the Southeast Asia operations of global rival Uber. It follows a similar arrangement struck two years ago between Didi Chuxing and Uber in China.
Alibaba leads $866m round for China's Ofo
Chinese bike-sharing start-up Ofo has raised $866 million in a new funding round – comprising equity and debt – led by existing investor Alibaba Group. It is said to be the largest round raised by a bike-sharing company to date.
Indonesia's Go-Jek secures $1.5b Series E round
Indonesian ride-hailing and delivery platform Go-Jek has closed its Series E round at $1.5 billion with contributions from the likes of Tencent Holdings, JD.com, Meituan-Dianping, Google, Temasek Holdings, BlackRock, and Samsung Venture Investment.
Indonesia's Go-Jek scales up with Series E round
Indonesian ride-hailing and delivery platform Go-Jek is set to achieve a post-deal valuation of more than $5 billion through a funding round that was expected to reach $1.5 billion but has seen the addition of several strategic backers.
EDBI joins $100m Series B for flying taxi start-up
Singapore’s EDBI has joined a group of venture investors in a $200 million Series B round for US-based Joby Aviation, a developer of electric vertical take-off and landing (eVTOL) aircraft envisioned for use as taxis.
Baidu Ventures makes $318m first close on AI fund
Baidu Ventures, an independent VC firm set up by Chinese internet player Baidu, has achieved a first close of more than RMB2 billion ($318 million) on its second renminbi-denominated fund that focuses on artificial intelligence (AI).
Southeast Asia logistics firm Ninja Van secures Series C
Ninja Van, a Singapore-headquartered last-mile logistics services provider with regional presence, has completed a Series C round of funding.
Hyundai joins round for Southeast Asia's Grab
South Korean automaker Hyundai has joined the latest funding round for Southeast Asia-based ride-hailing platform Grab. The move comes five months after Toyota also backed the company.
AVCJ Awards 2017: Deal of the Year - Late Stage Technology: Ofo
Ofo and Mobike dominate China’s bike-sharing industry, having raised billions in funding. Investors in Ofo believe they are backing the more sustainable model
SoftBank, Mubadala in $4b round for China's Didi Chuxing
Chinese ride-hailing app operator Didi Chuxing, which has received substantial PE and VC backing, has raised $4 billion in a new round of funding from investors including SoftBank Group and Abu Dhabi sovereign wealth fund Mubadala.
Bain consortium buys Maldives seaplane operator from Blackstone - update
Bain Capital Private Equity has teamed up with two Chinese partners to acquire Trans Maldivian Airways (TMA), the world’s largest seaplane operator, from The Blackstone Group.
Deal focus: An EV ecosystem play
WM Motor Technology's recent Series B round makes it one of the best-funded electric vehicle start-ups in China. The company has ambitions to build an EV ecosystem
Cathay Capital launches $227m China automobile fund
Cathay Capital Private Equity has launched a RMB1.5 billion ($227 million) China automobile sector fund with cornerstone investments from Yangtze River Industry Fund and French auto supplier Valeo.
Baidu Capital leads round for China's WM Motor
Baidu Capital, a VC firm backed by Chinese search engine Baidu, has led a round of funding for WM Motor Technology, a Chinese electric vehicle manufacturer.
China bike-sharing operator Hellobike raises $350m
Chinese bike-sharing operator Hellobike has raised $350 million in a Series D round of funding from several investors including Alibaba Group’s Ant Financial and Chengwei Capital.
Singapore's VC-backed Ascenz sold to trade buyer
Singapore-headquartered Ascenz, a provider of performance solutions for ships, has been acquired by French engineering company Gaztransport & Technigaz (GTT), facilitating an exit for investors including Red Dot Ventures.
Chinese autonomous truck start-up TuSimple gets $55m
Chinese self-driving truck technology developer TuSimple has raised a $55 million Series C round led by Hong Kong-based hedge fund Composite Capital, with participation from Sina and Zhiping Capital.
China's Segway & Ninebot raises $100m Series C
China-based electric scooter manufacturer Segway & Ninebot Group - previously known as Ninebot - has raised a $100 million Series C round from the Chinese state-backed SDIC Fund and a fund owned by China Mobile.
Southeast Asia's Grab gets $700m in debt funding
Southeast Asian ride-hailing app operator Grab has secured debt facilities of up to $700 million from leading global and regional banks.
Deal focus: Lalamove seeks edge in last-mile delivery
Shunwei Capital has led a $100 million round for Hong Kong-based delivery start-up Lalamove with a view to supporting its expansion in the competitive mainland China market
Hong Kong's Lalamove raises $100m Series C
Hong Kong-based delivery start-up Lalamove - also known as Huolala in mainland China - has completed a $100 million Series C round of funding led by Chinese VC firm Shunwei Capital.
Tencent invests $400m in India's Ola
Chinese internet giant Tencent Holdings has invested $400 million in Indian ride-hailing operator Ola, valuing the business at approximately $4.1 billion.
Temasek in $300m round for Taiwan scooter maker
Singapore’s Temasek Holdings has joined a $300 million funding round for Taiwan-based electric scooter manufacturer Gogoro.
Toyota invests in Southeast Asia's Grab
Toyota Tsusho, a division of Japanese automotive giant Toyota Group, has joined the latest funding round for Southeast Asian ride-hailing app operator Grab.