EV firms put pedal to the metal

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Hello readers,

As someone who’s on the younger side – or at least I like to think so – I’m acutely aware of the environmental catastrophes awaiting me in the coming decades due to climate change.

I’m not one to splurge money on a car, and I know that electric vehicles have significant hurdles to overcome before they make inroads. But I do think that EV development should at least steer us in the right direction.

It’s always nice to see a sector that can offer large-scale benefits to get the funding it needs, and the star of the week is none other than the EV industry.

You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.

Let’s dive into the biggest deals and M&As that recently took place.

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The biggest deals by country

🇸🇬 Lazada, the Singapore-based ecommerce major, has raised US$845 million in late-stage funding from Alibaba.

🇨🇳 China-based Farizon Auto, which manufactures electric and hybrid trucks, has secured a US$600 million series A round. Investors include Boyu Capital, Yuexiu Industrial Fund, United Clean Energy, and Linjiang Industry Group.

🇮🇳 RenewBuy, an India-based comparison platform for motor insurance, has raised US$40 million in series D money from Dai-ichi Life Group.

🇮🇩 Maka Motors, an Indonesian maker of electric motorcycles. It raised a US$37.6 million seed round from AC Ventures, AlfaCorp, Beenext, East Ventures, Kinesys Group, M Venture Partners, Northstar Group, and Openspace Ventures, among others.

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M&As

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Startups that are raising funds

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Killer pitch decks

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Exclusive listicles

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