<article><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>Scooterson has raised a $1.75 million seed round led by Arsat Industry that will see it open an R&amp;D facility in Singapore, while ACK Group has led an investment in US-based Reviver Auto.</p>
<h3>Scooterson to open R&amp;D centre in Singapore, raises $1.75m seed round</h3>
<p>California-based personal mobility developer <a href="http://dealstreetasia.com/tag/scooterson" target="_blank" rel="noopener"><span style="color: #000080;"><strong>Scooterson</strong></span></a> has closed a $1.75 million seed investment led by <a href="http://www.arsat.ro" target="_blank" rel="noopener"><span style="color: #000080;"><strong>Arsat Industry</strong></span></a> and will open an R&amp;D centre in Singapore.</p></article>

<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>Scooterson has raised a $1.75 million seed round led by Arsat Industry that will see it open an R&amp;D facility in Singapore, while ACK Group has led an investment in US-based Reviver Auto.</p>
<h3>Scooterson to open R&amp;D centre in Singapore, raises $1.75m seed round</h3>
<p>California-based personal mobility developer <a href="http://dealstreetasia.com/tag/scooterson" target="_blank" rel="noopener"><span style="color: #000080;"><strong>Scooterson</strong></span></a> has closed a $1.75 million seed investment led by <a href="http://www.arsat.ro" target="_blank" rel="noopener"><span style="color: #000080;"><strong>Arsat Industry</strong></span></a> and will open an R&amp;D centre in Singapore.</p>
<p>Investment proceeds from the round will go towards financing the production of its AI-powered and Internet-connected electric scooter, as well as the expansion of its team. The seed investment will see the firm establish manufacturing facilities and engage in talent acquisition, with a focus on engineers for the R&amp;D team in its Singapore office.</p>
<p><strong>DEALSTREETASIA</strong> had <span style="color: #000080;"><a style="color: #000080;" href="https://www.dealstreetasia.com/stories/scooterson-commitment-700k-seed-80175/" target="_blank" rel="noopener"><strong>reported</strong></a></span> in August 2017 that the firm had secured $700,000 in commitments for its seed round.</p>
<p>The lead investor of the round, Arsat Industry &#8211; which has facilities near Arad in Romania &#8211; manufactures components for the aerospace industry clients like Airbus, GE and Rolls Royce.</p>
<p>The firm&#8217;s co-founders are Mihnea de Vries, Deepansh Jain and Flavius Balaj. Jain saw his startup, Shifu App, <a href="https://techcrunch.com/2016/01/04/paytm-shifu/" target="_blank" rel="noopener"><span style="color: #000080;"><strong>acquired for $8 million in 2016</strong></span></a> by Alibaba-backed Paytm, an Indian mobile wallet and e-commerce firm. Meanwhile, de Vries and Balaj both possess deep backgrounds in technology entrepreneurship and business development.</p>
</div>
<h3>ACK Group leads $11.1m investment in Reviver Auto</h3>
<p>California-based <span style="color: #000080;"><strong><a style="color: #000080;" href="https://reviverauto.com/" target="_blank" rel="noopener">Reviver Auto</a></strong></span>, which is the developer of a digital licence plate, has secured $11.1 million in funding. Australia&#8217;s <span style="color: #000080;"><strong><a style="color: #000080;" href="http://www.austock.com" target="_blank" rel="noopener">Austock Group (ACK Group)</a></strong></span> led the round with participation from other investors that included WRV<strong> </strong>and a number of strategic individual investors.</p>
<p>The ACK Group is a pooled development fund (PDF) listed on the Australian Securities Exchange (ASX) that specialises in providing development capital to financial sector businesses. Ernst Leib, current Reviver Auto board member and former CEO and President of Mercedes Benz USA, Canada and Australia, also invested in the round.</p>
<p>The investment accelerates the development of the Reviver Auto platform and its patented technology, including RConnect, a platform that manages the RPlate’s functionality.</p>
<div class="column">
<p><strong>Also Read:</strong></p>
<p><strong><a href="https://www.dealstreetasia.com/stories/japans-money-forward-makes-first-overseas-investment-indonesian-startup-sleekr-90326/"><span style="color: #ff0000;">Japan’s Money Forward makes first overseas investment in Indonesian startup Sleekr</span></a></strong></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-vc-pi-ventures-second-close-fund-90308/">India: Tech-focused VC pi Ventures marks second close of maiden fund at $25m</a></strong></span></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapore-tnb-ventures-tnb-aura-fund-1-reaches-first-close-89918/">Singapore: TNB Aura Fund 1 reaches first close, targets hard cap of $22.5m</a></strong></span></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapores-bm-mobility-offers-acquire-malaysias-electric-car-sharing-firm-uniride-90097/">Singapore’s BM Mobility offers to buy Malaysia’s electric car-sharing firm UNiRIDE</a> </strong></span></p>
</div>
</div>
</div>
</div>


APAC Digest: Scooterson to set up SG centre post fundraise; ACK backs Reviver Auto

Scooterson to open R&D centre in Singapore, raises $1.75m seed round

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

APAC Digest: Scooterson to set up SG centre post fundraise; ACK backs Reviver Auto

Scooterson to open R&D centre in Singapore, raises $1.75m seed round

Create an account to continue reading this premium story for free

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief