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PR Newswire

JinkoSolar’s Principal Operating Subsidiary Jinko Solar Co., Ltd Raises approximately US$ 458 Million in Preparation for its Listing on the STAR Market

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SHANGRAO, China, Oct. 30, 2020 — JinkoSolar Holding Co., Ltd. ("JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced the completion of a RMB 3.1 billion (approximately US$ 458 million) equity financing by its principal operating subsidiary Jinko Solar Co., Ltd. ("Jiangxi Jinko").

As previously announced, the equity financing was conducted to qualify Jiangxi Jinko for a listing on the Shanghai Stock Exchange’s Sci-Tech innovation board (the "STAR Market") and to raise additional capital to support its continuous expansion. Immediately after the closing, reputable Chinese third-party investors including China Industrial Bank Group, CIIT Asset Management Co., Ltd., YunShang Fund, Huaho Capital, and China Capital Management Co., Ltd., China Securities Investment Co., Ltd., together with JinkoSolar’s founders and senior management personnel, directly or through their investment arms, will collectively own approximately a 26.7% equity interest in Jiangxi Jinko.

Mr. Kangping Chen, Chief Executive Officer of JinkoSolar, commented, "The successful completion of this fundraising marks an important milestone for us and takes us one step closer to the planned listing of Jiangxi Jinko in China. It also provides us with the capital to expand our capacity and further strengthen our leading position in R&D. We are thankful for the strong support from our new investors and are committed to creating sustainable value for all our shareholders."

Following the closing of this transaction, JinkoSolar will actively prepare for the planned STAR Market listing of Jiangxi Jinko pursuant to relevant laws and regulations in China. JinkoSolar remains fully committed to its shareholders and its NYSE listing and will remain the majority and controlling shareholder of Jiangxi Jinko after its STAR Market listing.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules, as of June 30, 2020.

JinkoSolar has 7 production facilities globally, 14 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, and Australia, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, Kenya, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland, and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Ms. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: ir@jinkosolar.com

Mr. Rene Vanguestaine
Christensen
Tel: + 86 178 1749 0483
Email: rvanguestaine@ChristensenIR.com

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Related Links :

http://www.jinkosolar.com

PR Newswire

PINTEC Announces RMB400 Million Financing under Equity Transfer Agreements

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BEIJING, Oct. 27, 2020 — Pintec Technology Holdings Limited (Nasdaq: PT) ("PINTEC" or the "Company"), a leading independent technology provider enabling financial services in China, today announced that Pintec (Yinchuan) Technology Co., Ltd. (the "Transferee"), a wholly-owned subsidiary of the Company, entered into certain equity transfer agreements (the "Agreements"), pursuant to which Ningxia Fengyin Enterprise Management Consulting LLP (the "Transferor") agreed to transfer all the outstanding equity interests in Yinchuan Chuanxi Technology Co., Ltd. ("Chuanxi Technology"), to the Transferee, in exchange for a total consideration of RMB400,000,000 (the "Consideration").  The parties agreed that Chuanxi Technology shall have an aggregate of no less than RMB400,000,000 in its bank account which is available for use at a specific date to be agreed by the parties. The transactions under the Agreements were closed on October 22, 2020.

The terms of the Consideration include the following features:

  • The full Consideration must be repaid by the Transferee within 20 days after the third anniversary of the closing date as defined under the Agreements (the "Closing Date").
  • To satisfy the payment obligation for the Consideration, the Company shall issue a warrant (the "Warrant") to an entity designated by the Transferor to subscribe in a private placement, for 320,036,576 class A ordinary shares of the Company, par value US$0.000125 per share (the "Warrant Shares").
  • The number of Warrant Shares is calculated by the U.S. dollar equivalent of the Consideration divided by US$0.1857 per share, which is equivalent to US$1.30 per American depositary share (each an "ADS"), representing approximately a 25.0% premium to the 45-day volume weighted average price of the ADSs.
  • The Warrant is exercisable immediately at the par value per Warrant Share and will expire on the third anniversary of the issuance date.
  • If the Warrant is fully exercised before its expiration date, the Transferee will be released from the obligation to pay the Consideration.
  • If the Warrant is not fully exercised before its expiration date, the Transferee will be required to pay the portion of the Consideration not reflected by the Warrant Shares (to the extent exercised) within 20 days after the expiration date of the Warrant. The Transferee is also obligated to pay an annual interest of 8.75% for any unpaid portion of the Consideration on a quarterly basis.
  • In connection with this transaction, the Transferee will cause its affiliates to pledge all equity interests of a subsidiary of the Company to the Transferor or a party designated by the Transferor within 20 days of the Closing Date.

Mr. Steven Sim, Chief Financial Officer of PINTEC, stated, "We are pleased to have successfully completed this financing even under the current challenging environment, and we appreciate the investors’ confidence in our business innovation. This transaction supports our strategic transformation, and the funds are intended for investment and acquisition in digital technology services, as well as general corporate purposes. We will continue to optimize our industry-leading tools and provide best-of-class solutions to digitally empower the way our partners conduct business in the financial markets. Finally, the cash injection from this transaction will further solidify our liquidity position, strengthen our balance sheet, and enhance our financial flexibility."

About PINTEC

PINTEC is a leading independent technology platform enabling financial services in China. By connecting business and financial partners, PINTEC enables them to provide financial services to end users efficiently and effectively. The Company offers its partners a full suite of customized solutions, ranging from digital retail lending, digital business lending, robotic process automation, to wealth management and insurance products. Leveraging its scalable and reliable technology infrastructure, PINTEC serves a wide range of industry verticals covering online travel, e-commerce, telecommunications, online education, SaaS platforms, financial technology, internet search, and online classifieds and listings, as well as various types of financial partners including banks, brokers, insurance companies, investment funds and trusts, consumer finance companies and other similar institutions. For more information, please visit ir.pintec.com.

About Chuanxi Technology

Chuanxi Technology is a limited liability company incorporated under the laws of the People’s Republic of China on September 27, 2020, and a wholly-owned subsidiary of Ningxia Fengyin Enterprise Management Consulting LLP. Although Chuanxi Technology does not currently engage in any business activities, it is registered to engage in consulting services for various sectors including information technology, education, etc.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the quotations from management in this announcement, as well as PINTEC’s strategic and operational plans, contain forward-looking statements. PINTEC may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, the Company’s limited operating history, regulatory uncertainties relating to online consumer finance in China, the Company’s reliance on Jimu Group for a significant portion of its funding and the need to further diversify its financial partners, the Company’s reliance on a limited number of business partners, the impact of current or future PRC laws or regulations on wealth management financial products, publicity regarding the consumer finance industry and the evolving regulatory environment governing this industry in China, and the Company’s ability to meet the standards necessary to maintain the listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For investor and media inquiries, please contact:
Joyce Tang
Pintec Technology Holdings Ltd.
Phone: +86 (10)  8564-3600
E-mail: ir@pintec.com

Related Links :

https://ir.pintec.com/

PR Newswire

Warburg Pincus to invest $95MN (INR 700 CR) in Home First – One of India’s leading affordable housing finance companies

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MUMBAI, India, Oct. 9, 2020 — US based private equity firm Warburg Pincus LLC ("Warburg Pincus"), through it’s affiliate Orange Clove Investments BV, has entered into an agreement to invest about $95 MN (INR 700 Cr) in Home First Finance Company India Ltd ("Home First") on October 2, 2020. The announcement came in today from the leading global private equity firm focused on growth investing. The investment of approximately INR 700 crore is a combination of primary fund raise and secondary sales by existing shareholders. Warburg Pincus joins existing marquee PE firm shareholders True North and Bessemer Venture Partners.

Home First is a technology driven, affordable housing finance company providing home loans to customers from low- and middle-income segments, who are building or buying their first homes. Over the last 10 years, Home First has sanctioned home loans across India to more than 50,000 customers in 60 districts, covering 11 states and 1 union territory. As of March 31, 2020, Home First had an AUM of $480 Mn (INR 3618 Cr) with a Net worth of $124 Mn (INR 933 Cr) and GNPA of 0.87%

This investment is a huge vote of confidence for the Indian affordable housing segment in general and more specifically for the performance of Home First even in the face of this worldwide crisis.

Narendra Ostawal, MD, Warburg Pincus said, "Home First has had a remarkable journey to become a leading affordable housing finance company in a relatively short span of 10 years. It is helmed by a very talented team and robust operating processes that continue to steer the company to do well through the pandemic and to leverage the growth potential of the affordable segment. Warburg Pincus looks forward to the partnership with True North and towards backing Manoj and the management team in its next phase of expansion."

Divya Sehgal, Partner, True North said, "We are proud of the way the company has utilised technology to its advantage, adopting a digital first approach in navigating Covid-19. We welcome Warburg Pincus and look forward to partnering with them in the upcoming journey of Home First."

"Home First is excited to partner with Warburg Pincus in this new phase of its journey.. True North has been a great support as we scaled from a small to a mid-sized company. Our shared passion for tech, belief in sustainable growth and strong governance has seen us thrive through several disruptive events," said Manoj Viswanathan, CEO, Home First.

To know more about Warburg Pincus & Home First click here

Note:

Currency

Exchange rate as on March 31, 2020 (INR)

Exchange rate as on October 1, 2020 (INR)

1 USD

75.3859

73.3834

(Source for 1 USD: www.fbil.org and www.rbi.org.in). Rate as on October 1,2020 is considered since October 2 was a public holiday.

Disclaimer:

Home First Finance Company India Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offer of its equity shares and has filed a draft red herring prospectus dated November 28, 2019 ("DRHP") with the Securities and Exchange Board of India on November 29, 2019. The DRHP is available on the website of the SEBI at www.sebi.gov.in, the respective websites of the book running lead managers, i.e., Axis Capital Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited at www.axiscapital.co.in, https://www.creditsuisse.com/in/en/investmentbanking/regionalpresence/asiapacific/india/ipo.html, www.icicisecurities.com and http://investmentbank.kotak.com, respectively, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of BSE Limited at www.bseindia.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the DRHP. Potential investors should not rely on the DRHP for any investment decision.

The Equity Shares of Home First have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act), pursuant to the private placement exemption set out in Section 4(a) of the U.S. Securities Act. Neither this release nor information on the website of Home First constitutes or forms a part of any offer to sell or solicitation of an offer to purchase or subscribe for such Equity Shares in the United States or elsewhere where such offer, solicitation or sale would be unlawful.

Logo: https://techent.tv/wp-content/uploads/2020/10/warburg-pincus-to-invest-95mn-inr-700-cr-in-home-first-one-of-indias-leading-affordable-housing-finance-companies.jpg

 

PR Newswire

Humane(R) Inc., Completes Series A Funding Round

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Sam Altman and Lachy Groom lead Humane® Inc. Series A to build the next computing platform

SAN FRANCISCO, Sept. 25, 2020 –Humane® Inc., today announced that it has raised a $30 million Series A round led by Sam Altman and Lachy Groom. This round will enable the company to continue its mission to deliver the next shift between humans and computing.

"It’s time for a change," said Humane co-founders Imran Chaudhri and Bethany Bongiorno. "We are building a different type of company and a new platform for a new era. Pioneering new paradigms takes passion and ambition, we’re thrilled to partner with Sam and Lachy to help deliver on our vision."

"We have deep conviction that what Humane is building is the future," said Sam Altman and Lachy Groom. "New computing platforms don’t come along very often and what the team has created is genuinely amazing. Humane has a real chance at a revolution and we are both incredibly excited to partner with them over the coming decades." 

Also participating in the round were Marc Benioff, Valia Ventures, Plexo Capital, Kindred Ventures and others. This diverse set of investors brings a unique blend of technological, operational, and global expertise that will help the Humane team in its mission to deliver a new platform for the next era of computing.

About Humane 
Humane is a technology company that creates and sells consumer hardware, software, and services that feel familiar, natural and humane. Humane is the next shift between humans and computing, the best human experience ever. 

To learn more about Humane, please visit https://hu.ma.ne/ and follow us on Twitter @Humane

HUMANE and the hu.ma.ne logo are trademarks of Humane Inc.

Logo – https://mma.prnasia.com/media2/1281254/Humane_Logo.jpg?p=medium600  

Related Links :

https://hu.ma.ne/

PR Newswire

Ingdan Innovations Introduces New Strategic Investors, RMB166 million Raised for the Blue Ocean of China’s Chips Market

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HONG KONG, Sept. 11, 2020 — Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ”Group”)) is pleased to announce the Company’s non-wholly owned subsidiary Comtech Industrial Technology (Shenzhen) Company Limited ("Comtech Industrial"), a technical service platform engaged in chip sales under the name of "Ingdan Innovations", has reached respective subscription agreements with a total of eight strategic investors, following the introduction of the leading strategic investor Guangdong Finance Fund Management Co., Ltd. ("Guangdong Finance Fund Management") in August 2020. The investment supports Ingdan Innovations‘ rapid development in the trillion-RMB domestic chip market, and will accelerate to the resumption of high growth for the Company’s business.

Pursuant to the strategic investment agreements, the eight investors agreed to inject capital into Comtech Industrial in the aggregate amount of up to RMB165.8 million, for an aggregate equity interest of up to 6.46% of Comtech Industrial. After the transaction, the Company’s shareholding in Comtech Industrial will decrease from 75% to around 70%. Comtech Industrial will continue to be a subsidiary of the Company and the financial results of Comtech Industrial will continue to be consolidated into those of the Group.

Ingdan Innovations is the Group’s technical service platform engaged in chips sales. Ingdan Innovations leverages its network of over 50% of global IC suppliers and top domestic chip companies, and provides chips sales services to over 100 global high-end chip suppliers and tens of thousands of smart hardware companies.

Mr. Jeffrey Kang, CEO of Cogobuy Group, said, "Benefitting from the rapid development of 5G industries and the infrastructure, Cogobuy recorded strong performance in both profit and revenue in the first half of 2020 and brought on Guangdong Finance Fund Management, which belongs to Guangdong’s largest provincial integrated financial platform as Ingdan Innovations’ first leading strategic investor. Since then, the group successfully introduced eight strategic investors to invest Ingdan Innovations and raised additional capitals for daily operation. Going forward, we expect to introduce more investors into Ingdan Innovations. The new capital will enable Cogobuy to capture the strong demand for high-end chips, driven by the large-scale expansion of 5G industries, artificial intelligence, Internet of Things, and other new infrastructure in China, indirectly increase our chip sales and market shares and maintain the Group’s high growth to prepare for the next momentum."

About Cogobuy Group

Cogobuy Group, a technology service company focusing on serving global chip industry and AIoT ecosystem, is headquartered in Shenzhen, with offices and branches across major cities in China, including Hong Kong, Shanghai, Beijing, Wuhan, Chengdu, Nanjing, Hangzhou, and Xi’an, as well as overseas branches in U.S., Singapore, Israel, and Japan. The Group was composed by Ingdan Innovations, a technical service platform serving chip industry, and "Ingfin Services", integrated the Company’s proprietary products, financing, and other enterprise services, forming a new "Ingdan Innovations + Ingfin Services" dual business model. For further information, please refer to the Company’s website at http://www.cogobuy.com/

For investor and media enquiries

Please contact Ms. Novam Ng at ir@cogobuy.com.

PR Newswire

Indonesian Logistics Tech Startup Waresix Closes c.US$100 Million Fundraising

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Summary

  • Waresix seeks to digitally transform the US$55 billion Indonesian trucking and warehousing sector.
  • Amid the COVID-19 pandemic, Waresix has scaled up rapidly to support the distribution of essential goods to over 100 cities across Indonesia and to provide logistics services to primary sectors.
  • As the world’s largest archipelago, distribution of goods is a major pain point in Indonesia. Waresix offers unique solutions to address distribution challenges, in line with the government’s aim to reduce the country’s logistics costs to 19% of GDP.

JAKARTA, Indonesia, Sept. 10, 2020 — Waresix, Indonesia’s leading logistics tech platform, today announced that it has concluded its Series B fundraising, and over the last year raised c.US$100 million from existing investors EV Growth and Jungle Ventures, and new investors, including SoftBank Ventures Asia, EMTEK Group, Pavilion Capital and Redbadge Pacific.

Waresix Team at Waresix Office
Waresix Team at Waresix Office

Waresix is the leading logistics tech platform in Indonesia in the trucking and warehousing segments. Trucking services, which form the majority of Waresix’s business, is focused on first-mile and mid-mile intercity shipments. Waresix’s deep operational involvement as a provider of managed services enables it to identify key value and efficiency-generating solutions for its clients beyond passive demand and supply matching. Waresix’s solutions, including consolidation, back-haul optimization and hub-and-spoke distribution, can achieve 50% higher truck utilization than traditional shippers, and have contributed towards Waresix rapid scaling, while generating positive net income. Waresix has been profitable on a net income basis since June 2019.

Waresix now serves more than 250 marquee corporate clients from diverse industries, including clients within the commodities, fast-moving consumer goods, industrial consumables, infrastructure, and retail sectors. Notable customers include Unilever, Indofood, Siam Cement Group, Wings, JD.ID and numerous other MNCs. Waresix’s logistics ecosystem spans over 40,000 trucks and 375 warehouses in more than 100 cities and towns across Indonesia. Waresix’s integration with key logistics facilities, such as Indonesia’s National Ports, has allowed the company to expand its reach beyond Java and Sumatra, to all of Indonesia’s main islands.

Waresix Truck
Waresix Truck

Waresix has been developing a unified operating system-like platform for its partners, with the goal of improving partners’ daily operations pertaining to their vendors and customers. The platform further provides a compact, single view of partners’ consignments across transport channels and transit warehouses. Waresix’s platform distinguishes itself from other logistics companies that primarily focus on building passive load-board and listings, to match supply and demand. Waresix continues to tackle core logistical challenges by going beyond matching supply with demand through cultivating a managed-service ecosystem. This has positioned Waresix to address challenges and generate enduring solutions faced by its demand and supply partners.

Despite disruptions brought in by the COVID-19 pandemic, the company has continued to achieve remarkable results, with rapid growth in its first-mile and mid-mile trucking services while supporting the efficient flow of essential goods and the livelihoods of thousands of truck drivers across the country.

At its core, Waresix believes that logistics, being a major bottleneck in the fast-growing Indonesian economy, provides ample opportunity for innovation within the e-trucking sector. Furthermore, the Indonesian government continues to invest in the country’s physical infrastructure, which serves as further sector catalysts. With technology and a customer-first mindset deeply embedded in Waresix’s DNA, Waresix is well-placed to propel efficiency within Indonesia’s complex logistics ecosystem.

Andree Susanto, CEO of Waresix, said, "We are excited to on-board a group of high-quality long-term investors and partners that have committed to support Waresix in our journey to be the new engine for trade and commerce growth in Indonesia. The capital will be invested to develop the most robust logistics technology infrastructure in South East Asia, and further build out our world-class team to help us seize a large market opportunity."

Edwin Wibowo, CFO of Waresix said, "We are not just driven by technology, but also driven by a passion to solve real problems, and innovating via technology. We have proven this in the last two years, which is why our clients love us and our business has continued to scale until today."

About Waresix

Waresix is a tech-enabled platform offering logistics services and solutions to customers in a more efficient and economic manner. It connects shippers and businesses with available transporters, trucks and warehouse space across Indonesia, providing better transparency, quality of service, and improving income for asset owners. Its expansive ecosystem now reaches over 40,000 trucks and 375 warehouse operators across the archipelago.

The archipelagic makeup of Indonesia has resulted in one of the highest logistics costs in Asia, accounting for nearly a quarter of the country’s US$1 trillion gross domestic product (GDP). This high logistics cost not only hampers Indonesia’s industrial competitiveness but also adds to Indonesian SME’s cost of doing business. Waresix seeks to address challenges and generate enduring solutions for its supply and demand partners in the US$240 billion Indonesian logistics market.

You can read more about us at waresix.com

Photo – https://photos.prnasia.com/prnh/20200910/2912421-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200910/2912421-1-b?lang=0

Related Links :

http://waresix.com

PR Newswire

FarEye Raises USD 37.5 Mn In Series D Funding To Expand Its Delivery Logistics Platform Used By DHL & Amway

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  • The Fundamentum Partnership & KB Global Platform Fund Invest In FarEye 
  • FarEye accelerates its global expansion as enterprises move towards customer-centric supply chains  

SINGAPORE, Aug. 21, 2020 — FarEye, a leading logistics SaaS platform for predictive visibility, today announced that it has raised additional USD 13 Mn as an extension to its Series D investment led by The Fundamentum Partnership, the growth-capital fund for mid-stage technology companies in India backed by Nandan Nilekani and Sanjeev Aggarwal and KB Global Platform Fund, one of the leading investment firm of Korea. The investment will accelerate FarEye’s global expansion to address the steepening digital curve for logistics transformation. The need is being further accelerated by enterprises and end consumers demanding a high level of transparency, faster and more convenient delivery experiences. There is also an increased need for flexible supply chains to meet these demands.

FarEye works with its enterprise customers to provide higher control on their supply chains and offer a superior delivery experience to their end customers. The company’s technology platform digitizes the way enterprises dispatch, execute, track, and optimize the movement of goods, enabling enterprises to lower logistics costs while delighting end consumers.

"The support and trust of our investors, customers, and partners underpin our deep desire to make logistics better for brands, their customers, and the environment. We are seeing a surge in the need for real-time visibility in logistics for businesses to build customer-centric supply chains. With recently raised funds, we will continue to invest in the best talent in the Americas, Europe, and APAC to support our hyper-growth in these regions. With a vision to make FarEye one of the most customer-centric organizations globally, we aim to make every delivery delightful for the consumers," said Kushal Nahata, CEO, FarEye.

Commenting on the investment Sanjeev Aggarwal, Co-founder of Fundamentum, said, "Investment in the logistics space is essential for the economic growth of any nation. FarEye has captured the pulse of this industry and has all the ingredients to head towards global leadership. I believe in the founders and the team has the clarity of vision. We are excited to partner with FarEye in its journey to create a global technology leader in the logistics space."

This is the second time this year that FarEye has been able to raise funds to support its hyper-growth in global markets, making it a total of USD 51 Mn investment so far. In April, FarEye had raised USD 24.5 Million in Series D from M12 (Microsoft’s venture fund) with participation from Eight Roads Ventures, Honeywell Ventures, and existing investor SAIF Partners.

With a clear mandate to establish Singapore as their hub for international expansion, FarEye recently named Singapore-based ex-Blue Yonder Veteran Amit Bagga as its Chief Revenue Officer. His appointment comes as FarEye undertakes aggressive plans for global expansion. Bagga has established FarEye’s field headquarters in Singapore with investments in sales, solutions, services, and customer success teams, and continues to accelerate investments in the company’s expansion into Europe and the Americas.

"Logistics is the backbone of any given economy, and yet it has been a difficult space to innovate.  We are excited to partner with FarEye as it paves the way for its enterprise customers such as DHL and Walmart to gain flexibility as well as visibility in logistics by providing the easy-to-use platform to manage all moving parts. The newly raised capital will allow the team to deliver additional value to its enterprise customers by bringing in more global talents who will ultimately contribute to the advancement of the platform’s predictive capabilities and customer services. We look forward to FarEye’s contribution to its enterprise customers around the globe both during and post the current pandemic as seamless logistics has never been more vital to their business. We have been deeply impressed with FarEye’s response during the pandemic as a global leader in the logistics SaaS space," said Chunsoo Kim, Managing Director (Head of Global Investment Group) at KB Investment.

About FarEye- https://www.getfareye.com/

CONTACT:
Ms. Komal Puri
komal.puri@getfareye.com

Logo: https://techent.tv/wp-content/uploads/2020/08/fareye-raises-usd-37-5-mn-in-series-d-funding-to-expand-its-delivery-logistics-platform-used-by-dhl-amway.jpg

Related Links :

https://www.getfareye.com/

PR Newswire

Chili Piper Raises $18 Million to Connect Remote Sales Teams to Customers Instantly

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Inbound Revenue Acceleration solution streamlines interactions between B2B buyers and sellers through real-time calendaring and inbox capabilities

SAN FRANCISCO, Aug. 19, 2020 — Chili Piper, the leader in Inbound Revenue Acceleration, today announced that it has raised $18 Million in Series A funding led by Base10 Partners with participation from Gradient Ventures, Google’s AI-focused venture fund. TJ Nahigian, General Partner at Base10, will join the company’s Board of Directors. With this new capital, Chili Piper plans to invest in product capabilities to enable remote sales teams to work more effectively and respond to buyer behavior instantly. The company also plans to expand its sales and marketing efforts to address the $100B+ CRM market and serve customers worldwide.

Founded in 2016 by a husband and wife duo, Alina and Nicolas Vandenberghe, Chili Piper started solving the frustrations of calendaring or scheduling between sales representatives and potential customers, and has evolved into a full suite of solutions to connect inbound opportunities to sellers instantly. Chili Piper Meetings synchronizes buyer and seller calendars allowing appointments to be booked instantly with ease — keeping reps busy and buyers on track to close. It also enables buyers to be connected to available reps via voice or video instantly ensuring a continuous buyer experience and journey.

"Our product suite at Chili Piper is the beginning of a major evolution in how people connect with customers. Since Salesforce moved customer data to the Cloud, we are connecting cloud collaboration to sales force automation–we call this Instant Inbound," said Nicolas Vandenberghe, CEO and co-founder of Chili Piper. "We are excited to partner with both Base10 and Gradient, both experts in automation and AI, to further invest in our goal to connect buyers and sellers instantly."

"While software has eaten the world, automation is the practice of putting that software into the hands of the next generation of workers. Chili Piper perfectly fits our thesis around leveraging software and cloud solutions to automate tedious tasks," said TJ Nahigian, General Partner at Base10 Partners. "We see the next generation of sellers demanding solutions to instantly connect them to buyers and shortening the time to close. In a more remote working world, we’re always connected and our go-to-market software solutions should take advantage of this new phenomenon."

Customers of Chili Piper include Fortune 500 enterprises such as Intuit and Hewlett Packard and startups such as Zenefits and Monday.com. These customers leverage Chili Piper’s instant inbound solution daily across thousands of sales representatives.

"Salesforce.com has failed to meet the needs of the modern seller. Inputting data into Salesforce is difficult, tedious, and feels archaic," said Darian Shirazi, General Partner at Gradient Ventures. "Chili Piper’s Instant Inbound solution transforms the modern seller experience allowing reps to instantly book meetings with customers, input sales activity directly through GSuite, and focus on closing deals without switching between your CRM and inbox. We’re excited to partner with Nicolas and Alina on their journey to make the buyer’s journey instantly gratifying."

About Chili Piper

Founded in 2016, Chili Piper is the leader in Inbound Revenue Acceleration, with a mission to reinvent the system of action for revenue teams – their calendar and inbox. Chili Piper automates the antiquated processes in scheduling and email that cause unnecessary friction and drop-off in the sales process – resulting in increased productivity and conversion rates throughout the funnel.

Companies like Square, Twilio, QuickBooks Intuit, Spotify, and Forrester use Chili Piper to create an amazing experience for their leads, while converting double the amount of leads into held meetings. Chili Piper is a fully distributed company leveraging global talent with employees in 40 cities across 15 countries. To learn more, visit https://www.chilipiper.com/

About Base10 Partners

Base10 is a San Francisco-based early-stage venture firm investing in Automation for the Real Economy. Founded by Adeyemi Ajao and TJ Nahigian, the firm invests in technology companies that are bringing automation to sectors of the Real Economy, including industrial logistics, consumer logistics, restaurants, financial services, and sales & customer service. Portfolio companies include ThePillClub, Virtual Kitchen Company, Acquire, PopMenu, and others. Connect via base10.vc.

About Gradient Ventures

Gradient Ventures is Google’s AI-focused venture fund – investing in and connecting early-stage startups with Google’s resources, innovation, and technical leadership in artificial intelligence. The fund focuses on helping founders navigate the challenges in developing new technology products, allowing companies to take advantage of the latest techniques so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit www.gradient.com.

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Related Links :

https://www.chilipiper.com

PR Newswire

ReneSola Power Secures US$12 Million Bridge Financing

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STAMFORD, Conn., July 24, 2020 — ReneSola Ltd (NYSE: SOL) (“ReneSola Power” or the “Company”), a leading fully-integrated solar project developer today announced that it successfully closed a bridge financing with Eiffel Energy Transition Fund to finance the construction of ReneSola Power’s 19 MW solar projects in Poland.

 

This new facility provides an injection of 10.64 million euros (US$12.1 million) of new capital.  It is the second bridge financing that Eiffel Energy Transition Fund has provided to ReneSola Power to support its project development and execution efforts in Poland and Hungary.

Mr. Yumin Liu, ReneSola Power Chief Executive Officer, commented, “We are excited to once again partner with Eiffel Energy Transition Fund. This new facility demonstrates their confidence in our ability to successfully develop and build projects in various target markets.  Despite ongoing challenging macro conditions related to COVID-19, we have begun construction of the 19 MW solar projects in Poland.  We are very pleased with our progress, and look forward to further supporting solar deployment in the years ahead.”

Mr. Pierre-Antoine Machelon, fund manager of Eiffel Energy Transition, said, “We are very pleased to build on our initial partnership with ReneSola Power to help expedite growth in the Polish market, and contribute to the acceleration of the renewable energy transition across the region. The strong engagement of ReneSola Power, coupled with the quality of the processes being put in place locally, were key in the selection of these projects.”

Mr. Josef Kastner, CEO of ReneSola Power Europe, commented, “We have successfully developed solar projects in Poland and have sold over 81 MW of projects in the last four years.  Poland remains a key market for ReneSola Power, and we are committed to our strategy to further expand our business and become a major player in Poland and other European markets.”

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

About Eiffel Energy Transition

Eiffel Energy Transition Fund S.L.P. is a specialized €350m fund reserved for professional investors. It provides flexible bridge financing for renewable energy and energy efficiency projects across Europe. The fund has already financed over 1,000 projects, representing more than 1GW of green energy capacity. Eiffel Energy Transition is managed by Eiffel Investment Group and is sponsored by the European Investment Bank, the French environmental agency (ADEME) as well as mutual insurance companies and first rank banks.

About Eiffel Investment Group

Eiffel Investment Group is an asset management firm and a leader in business financing. The group addresses the funding needs of European SMEs and midcaps across their entire capital structure: credit (liquid credit, private debt), equity (listed shares, private equity, convertible bonds). Eiffel Investment Group manages more than 2 billion euros for major European institutional investors and 25,000 private clients.

 

Related Links :

http://www.renesolapower.com

PR Newswire

Pudu Robotics Raised over $15M Series B Financing with Meituan as the Exclusive Investor

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SHENZHEN, China, July 9, 2020 — On July 1, 2020, Pudu Robotics, an indoor delivery robot provider, officially announced the completion of B round financing of more than $15M with Meituan as the exclusive investor. Zhang Tao, CEO of Pudu Robotics, said the fund would be mainly used to develop products, expand sales, explore new usage scenarios and expand overseas market.

Pudu Robotics is a top-notch intelligent indoor delivery robot provider in China. The company focuses on the R&D, design and production of robots and offers a number of popular delivery robots, including PuduBot (food delivery robot), BellaBot (food delivery robot), HoloBot (building delivery robot), HolaBot (dish-return robot), and GazeBot (multi-scene delivery robot). Its first mass-produced robot PuduBot has been widely used in extensive scenarios, including restaurants, hotels, office buildings, hospitals, Internet cafes and Karaoke, with customers in 200+ cities in more than 20 countries. In 2019, Pudu Robotics maintained rapid business growth and remained the leading food delivery robot provider.

Pudu Robotics all series of products.
Pudu Robotics all series of products.

Pudu Robotics possesses the core technologies of low-speed automatic driving, robotics motor and motion control. Its R&D team has developed a number of proprietary technologies. Up to now, the company has applied for several hundreds of core patents, with key patents accounting for more than 60% of the total. Its food delivery robot PuduBot won the German Red Dot Award 2017″Best of the Best”, one of the world’s most prestigious awards in the design industry.

Meituan adheres to a corporate mission of “We help people eat better, live better.” The company focuses on local services including catering and provides a full range of services to businesses through supply-side digitization to accelerate the online transformation of the service industry. This round of investment in Pudu Robotics will allow both sides to combine their strengths in their respective fields and collaborate to promote the exploration of services to humans daily life and the delivery robot industry.

Pudu Robotics and Meituan also have future plans for cooperation and exchange in the field of robotics and catering service digitization.

Photo – https://photos.prnasia.com/prnh/20200708/2851824-1?lang=0