Polestar attracts partner for $20bn reverse merger
Volvo Cars and Geely's electric car spinoff is set to secure a Nasdaq Capital Market listing by joining forces with Gores Guggenheim.
Black Sesame nears $2bn valuation
Xiaomi has led two rounds for the autonomous driving technology developer including a series C, the latter deal valuing it at almost $2bn.
Daily Deal Round Up: September 22, 2021
UOB Venture Management led a $30m round for social commerce platform developer Evermos while Advanced Farm Technologies and Nex each bagged $25m.
Cars24 gears up with $450m series F
Exor Seeds and Tencent participated in an equity and debt round for the used car marketplace operator that was co-led by SoftBank Vision Fund 2, valuing it at $1.84bn.
Gogoro rides to $2.35bn reverse merger
Foxconn and GoTo Group are contributing to a $250m PIPE deal for the Engie, Panasonic and Sumitomo-backed electric scooter system provider’s reverse takeover.
SoCar Malaysia spins to $55m series B
Sime Darby has taken part in the latest round for the ride sharing platform developer’s Malaysian subsidiary, helping to lift its total funding to $73m.
New Carzone drives through $200m series D
Alibaba joined new and returning investors to back the aftermarket vehicle services provider, reportedly lifting its valuation to roughly $1.5bn.
Alibaba goes Deeproute in series B round
Alibaba and Fosun were among the investors that helped the autonomous driving technology provider close a $300m round.

Other News

Daily Deal Round Up: September 13, 2021
UPS is buying delivery service Roadie having helped it raise $62m while heart disease treatment developer Nectero Medical secured $19.5m in a Boston Scientific-led round.
Cars24 drives to $259m
Tencent was among the investors in a round which valued the automotive e-commerce platform developer at $1.75bn.
Corporates swoop in for Skydweller’s $40m series A
Palantir and Leonardo have helped solar-powered aircraft technology developer Skydweller fill out its oversubscribed series A funding round.
Volkswagen races to launch corporate venturing fund
The carmaker intends to allocate $356m to the vehicle, which will invest in early-stage companies in addition to decarbonisation schemes.
Tritium takes in Cigna investment
Cigna has returned to invest $29.5m in electric vehicle charging technology developer Tritium ahead of its $1.2bn reverse merger later this year.
Daily Deal Round Up: September 3, 2021
Versanis Bio secured $70 to commercialise a treatment licensed from Novartis, while Salesforce, Intel, Orange, Nike and Alphabet all celebrated exits.

Editor's Picks

Rivian recharges with $2.5bn
The electric truck developer has closed a round co-led by Amazon and Ford Motor Company, pushing its overall funding past the $10bn mark.
Didi crashes on to NYSE in $4.4bn IPO
SoftBank, Uber and Tencent are the largest external shareholders of the on-demand ride service, which has floated in an upsized $4.44bn offering.
Xpeng drives to dual-listed IPO
The EV manufacturer, backed by Alibaba, Duowan, Foxconn, UCar and Xiaomi, has filed to float in Hong Kong, and will potentially raise almost $2bn.
Carro drives through $360m series C round
SoftBank Vision Fund 2 and MSIG are among the investors that have backed the used car marketplace’s latest round, valuing it at more than $1bn post-money.
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