WM Motors and Uber reached an agreement of intent, EX5 may be exported to Europe; Relativity Space announced that it has received US$500 million in Series D financing, which will be used for the industrialization of Mars
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And, Southeast Asia’s largest online maternity and baby platform theAsianparent completed tens of millions of US dollars in Series C financing; e-commerce giant Flipkart’s PhonePe and the Indian power sector launched an online electricity payment service; autonomous driving startup Gatik completed a US$25 million Series A financing, and Cooperated with Canadian retail giant Loblaw.
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Globalization of Chinese Enterprises
Weimar Motors and Uber have reached an agreement of intent, and EX5 may be exported to Europe. According to Sina Technology News, Weimar has signed an agreement of intent with Uber, and Weimar EX5 will be exported to more than ten European countries, including the UK, as an optional vehicle for Uber drivers. Supported by policies to reduce carbon emissions, these countries have relatively large subsidies for electric vehicles. It is reported that Weimar Motors needs to complete the modification of the vehicle first and obtain the export license after it meets the local standards.
TheAsianparent, Southeast Asia's largest online maternal and child platform, completed tens of millions of US dollars in Series C financing. According to e27 reports, theAsianparent recently announced that it has completed tens of millions of dollars in Series C financing. The latest investor to join is SCB 10X, a venture capital arm of Commercial Bank of Thailand. Previous investors include Fosun Ruizheng Capital, JD.com, ATM Capital and other institutions. theAsianparent was founded in 2009 and is committed to creating a mother and child social and parenting platform exclusively for Asian parents. Headquartered in Singapore, its business has now expanded to 13 countries and regions, with more than 30 million users.
New Wave and Emissary Capital set up a US$50 million fund for start-ups in ASEAN countries. According to e27, New Wave, a subsidiary of IP E-Game Ventures, Inc. in the Philippines, has signed an agreement with Malaysian venture capital firm Emissary Capital to set up a US$50 million fund for start-ups in ASEAN countries.
Indonesian online credit platform Kredivo completed USD 100 million debt financing. According to a report from Deal street Asia, Indonesian digital lending platform Kredivo announced today that it has received up to US$100 million in debt financing from Victory Park Capital. Kredivo is one of FinAccel's brands, which provides e-commerce consumers with a "buy first and pay later" service. Users can get a credit line between US$100 and US$2,200 on the app. It was founded in 2016 and is currently one of the largest credit platforms in Indonesia.
PhonePe, a subsidiary of e-commerce giant Flipkart, cooperated with the Indian power sector to launch an online payment service for electricity bills. According to YourStory report, Flipkart's mobile payment company PhonePe recently stated that it has reached cooperation with 73 Indian power departments, and currently 250 million PhonePe users can pay for electricity through their mobile phones. PhonePe was founded in 2015 and entered the financial services field in 2017. Users can safely buy 24 carats of gold on its platform. Since then, PhonePe has launched fund and insurance products and launched the Switch platform, where its customers can directly use more than 260 apps to place orders. It is reported that at the end of 2019, PhonePe's valuation has exceeded 10 billion US dollars.
Cashfree, an Indian fintech start-up, received US$35 million in Series B financing. According to KrASIA, Cashfree today announced that it has received a US$35.3 million investment from Apis Growth Fund II, a private equity fund owned by Apis Partners in London, as part of its ongoing Series B financing. Founded in Bangalore in 2015, Cashfree is an online payment technology company that currently provides supplier payment, salary payment, batch refunds, expense reimbursement, loyalty and reward services to more than 50,000 customers. It is reported that the new funds will be used for infrastructure research and development, expansion of new markets, launch of new products and strategic acquisitions.
PolicyBazaar, the insurtech unicorn of India, is negotiating new financing of US$50 million. According to Inc42, PolicyBazaar, a digital insurance service provider, is negotiating a new round of financing with Alpha Wave Incubation in New York. In July of this year, PolicyBazaar received a US$130 million investment from the SoftBank Vision Fund. PolicyBazaar was established in 2008 and its parent company is ETechAces Marketing and Consulting. It currently mainly supports users to conduct online insurance price comparison, insurance purchase and renewal services. Through comparative analysis of product prices, quality and key benefits, as well as comparison of insurance products and solution-driven customer service, we can provide customers with more accurate information.
Imperial, the largest logistics service provider in Africa, announced that it has completed its strategic investment in Lori Systems and reached an African regional business partnership. According to 36Kr news, logistics service provider Imperial announced that it has completed its strategic investment in Lori Systems and will carry out logistics informatization cooperation in the African region. Lori Systems is Africa's leading cargo transportation letter information platform, providing end to end visibility through the full chain of systematic services, successfully fragmented logistics market in Africa to improve the efficiency of freight industry. This strategic cooperation will help Lori secure its advantages in the East and West African markets and help it expand into the South African market. It is reported that this is the first time that a logistics strategic partnership of this scale and scope has appeared in Africa.
Europe and America
Relativity Space announced that it has received $500 million in Series D financing, which will be used for the industrialization of Mars. According to TechCrunch, 3D printing rocket technology startup Relativity Space announced today that it has completed a $500 million Series D financing, and the company has so far received approximately $700 million in investment. Relativity Space was founded in Seattle in 2015, hoping to print the entire rocket and reduce the time from rocket production to launch to 60 days. It is reported that SpaceX launched its first 3D printed component main oxidizer valve body as early as 2014, but the idea of 3D printing the entire rocket is still amazing. Relativity Space plans to launch the first fully 3D printed rocket next year.
Autonomous driving startup Gatik completed a US$25 million Series A financing and reached a partnership with Canadian retail giant Loblaw. According to a cnBeta report, Gatik, a self-driving startup focusing on "middle mile", has just completed a US$25 million Series A financing and announced that it will cooperate with retail giant Loblaw to expand its business to Canada. Previously, Gatik has reached a cooperation with Wal-Mart to pilot the use of autonomous vehicles in Bentonville, Arkansas, for its grocery pickup and delivery. It is reported that starting from January 2021, Gatik's self-driving van will deliver goods to Loblaw stores in the Toronto area.
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