China's Didi Chuxing said on Friday it had completed a fundraising round of over US$500 million for its autonomous driving subsidiary that was led by SoftBank Group's Vision Fund 2.
The ridehailing giant said in a statement the round marked the first time Didi's autonomous driving business had brought in external funding since it became a standalone unit last year and was also the single largest fundraising round in China's self-driving sector.Didi said it would use the capital to invest further in the research and development of autonomous driving technology as well as testing, and accelerate the deployment of autonomous driving services.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More than S$360 million paid out to self-employed workers under COVID-19 income relief schemeSINGAPORE: More than S$360 million is being paid out to eligible self-employed workers under the first tranche of the Self-Employed Person Income ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Formula 1: FIA agree to budget cap of US$145m for 2021PARIS: Spending by Formula One teams will be capped at US$145 million in 2021 with a subsequent limit of US$135 million by 2023, it was announced ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SoftBank Vision Fund head's pay doubled last year despite massive lossesSoftBank Vision Fund's head, Rajeev Misra, saw his total pay for the past business year more than double to roughly $15 million, even as the fund's underperformance pushed SoftBank to a record operating loss of some $13 billion. The figure was second only to renumeration for SoftBank Group Corp
Source: YahooSG - 🏆 3. / 71 Read more »
McLaren Group first quarter figures reveal impact of COVID-19 hitFormula One team owners McLaren saw group revenues reverse from 284 million pounds (US$348.13 million) to 109 million in the first quarter of 2020 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
GIC leads US$250m funding round in US food science firm ApeelAPEEL Sciences, a US firm developing technology to tackle food waste, has raised US$250 million in a funding round led by Singapore’s GIC, taking its valuation to over US$1 billion. The funding round was also joined by US-based investors Viking Global Investors, Upfront Ventures, Tao Capital Partners and Rock Creek Group. Crunchbase reported that the round brings Apeel’s total funds raised to date to US$360.1 million. Celebrities Oprah Winfrey and Katy Perry also entered the round as “minority, non-participatory investors to support the company's mission in making sustainable food systems a reality for all”, Apeel said in a statement on Tuesday. 'We are proud to team up with GIC to help create a better future with less waste. Food waste is an invisible tax imposed on everyone who participates in the food system,” Apeel’s chief executive James Rogers said in the statement. Founded in 2012, Apeel specialises in extending the shelf life of produce by creating a barrier out of edible plant materials - a little extra 'peel' - that would slow down the rate of spoilage. The company kicked off with a grant from the Bill & Melinda Gates Foundation. From strawberries to peppers, every fruit and vegetable has a protective peel or skin that nature uses to keep it fresh. This year, Apeel is targeting to save 20 million pieces of fruit from going to waste at retail stores, while also extending the shelf-life of produce in the home. The firm claims that US retailers that use its technology have experienced a 50 per cent reduction in shrink, and a 5 per cent to 10 per cent growth in dollar sales. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
US taxpayers' virus relief went to firms that avoided US taxLast month Zagg Inc, a Utah-based company that makes mobile device accessories, received more than US$9.4 million in cash from a US government ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »