Transportation
Singapore micromobility startup Beam secures $93M in Series B funding led by Affirma Capital
Beam announced Friday a Series B funding round of $93 million led by Singapore-based private equity firm Affirma Capital. The round also saw participation from Sequoia Capital India, Hana Ventures, ICT Capital, EDBI, AC Ventures, RTP Global, and Momentum Venture Capital, among others. Funds raised will be used to bring Beam’s shared micromobility vehicles…
AirAsia changes name to Capital A to reflect new core strategy
Malaysia's AirAsia Group Berhad has announced a name change for the group holding company to become Capital A Berhad, to reflect the group’s new core business strategy as an investment holding company with a portfolio of synergistic travel and lifestyle businesses, which have rapidly transformed the AirAsia brand into much more than just an airline.. By…
Taiwan’s Gogoro inks two partnerships to establish an open electric mobility and battery swapping ecosystem in Indonesia
Gogoro Inc announced the two new strategic initiatives that drive momentum in Indonesia. It has partnered Hon Hai (Foxconn), Indonesia Battery Corporation (IBC) and Indika Energy to jointly develop a sustainable electric vehicle ecosystem in Indonesia that establishes the foundation for an open industry. It has also expanded its partnership with Electrum,…
Indonesian used car platform Moladin raises $42M in Series A funding led by Sequoia Capital India and Northstar Group
Moladin has raised a $42 million Series A investment round led by Sequoia Capital India and Northstar Group. The investment, which is one of Southeast Asia’s largest Series A funding rounds, will allow Moladin to solidify its position as Indonesia’s leading used car platform. The round also includes participation from East Ventures, Global Founders Capital,…
Indian electric commercial vehicle startup EVage raises $28M seed round led by RedBlue Capital
EVage has raised $28 million seed round led by US-based venture capital firm RedBlue Capital. This is among the largest seed rounds for any Indian start-up and will allow EVage to complete its production-ready factory outside of Delhi in financial year 2022 to 2023 and scale up production.
[Updated] Malaysia’s AirAsia classified as financially distressed company
AirAsia triggered the financial distress criteria, known as PN17 back in July 2020. This came after its external auditor flagged significant uncertainties that cast doubt on its ability to continue as a going concern.
Malaysia unicorn Carsome raises $290M in Series E financing
Carsome Group announced the completion of its $290 million Series E round, increasing the company’s valuation to approximately $1.7 billion. The latest financing round was jointly led by Qatar Investment Authority, 65 Equity Partners and Seatown Private Capital Master Fund. The round also saw strong participation from investors such as Mediatek, Sunway,…
Malaysia-based Carsome raises $300M from Temasek-backed funds, QIA – report
Carsome, Malaysia's first tech unicorn, is said to be planning for an initial public offering in the US later this year.
Zoomcar launches first ever car sharing marketplace in Philippines, allowing Filipino private car owners to monetize their vehicles
Zoomcar has launched Zoomcar Host - the Philippines’ first ever car sharing marketplace, allowing vehicle owners to generate income by sharing their car on the Zoomcar platform. With Zoomcar Host, Filipinos can rent out their vehicles from a six-hour to six-month periods and generate additional income when not in use.
