Toyota Motor Corp and SoftBank Group Corp said they would team up to develop new transport services, adding to a slew of deals aimed at sharing costs and securing expertise in technologies which promise to drastically change the way people use cars.
The partnership between Japan’s top automaker and tech firm shows that even the biggest, well-funded players fear being left behind in the race to develop self-driving and connected cars.
The companies said in a statement they will form a new joint venture would be called MONET, short for mobility network, that will start with 2 billion yen (US$17.5 million) in capital. SoftBank will hold a 50.25 percent stake with Toyota owning the rest.
SoftBank Vision Fund may put US$200-250M in Delhivery [The Economic Times]
SoftBank Vision Fund is in talks to invest US$200-250 million in e-commerce-focused logistics player Delhivery, two people familiar with the development said.
The US$100-billion fund started by SoftBank’s Japanese billionaire founder, Masayoshi Son, is evaluating Delhivery at a post-money valuation of around US$1.2 billion, which will take the seven-year-old company to the unicorn club.
“They have been evaluating Delhivery seriously for the past few months but a transaction is not final yet,” said one of the people.
World’s first hydrogen-electric passenger plane to take off in 2025 [The Star]
The world’s first regional passenger plane powered by hydrogen-electric power is set to take to the skies as early as 2025, paving the way for a new generation of zero-emissions air travel.
Designed to fly up to four passengers for distances between 500km to 5,000km, the Element One is described as a quiet, ultra-light, zero carbon aircraft “several orders of magnitude better” than battery-electric aircrafts.
The plane merges hydrogen fuel cell technology with a distributed electric aircraft propulsion design.
A prototype of the aircraft is set to launch in 2025.
Korea Investment Partners invests in TEMCO [press release]
TEMCO, a Korean startup preparing supply chain-based on bitcoin (RSK), has said it has secured funding from VC firm Korea Investment Partners (KIP).
TEMCO aims to disrupt the supply chain management system. By utilising bitcoin smart contracts blockchain technology, it aims to build the next generation of supply chain management systems.
TEMCO will start its US$19 million token sale soon. Users can participate in the token sale white list in October 2018 and pre-sale near November 2018.
Collective Works sells its co-working platform to The Work Project Kingdom [press release]
Singapore-based coworking operator Collective Works has sold its co-working platform to The Work Project Kingdom, a new joint venture between CapitaLand and The Work Project.
With six years in the market, Collective Works launched the co-working space in the CBD in 2016. The firm has attracted tenants such as global venture capital firm 500 Startups as well as Rockefeller Foundation-backed NGOs, ING Bank and a number of marketing, business services and data science companies.
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