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

Graphic from Scooterson social media.

Scooterson has raised a $1.75 million seed round led by Arsat Industry that will see it open an R&D facility in Singapore, while ACK Group has led an investment in US-based Reviver Auto.

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

California-based personal mobility developer Scooterson has closed a $1.75 million seed investment led by Arsat Industry and will open an R&D centre in Singapore.

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&D team in its Singapore office.

DEALSTREETASIA had reported in August 2017 that the firm had secured $700,000 in commitments for its seed round.

The lead investor of the round, Arsat Industry – which has facilities near Arad in Romania – manufactures components for the aerospace industry clients like Airbus, GE and Rolls Royce.

The firm’s co-founders are Mihnea de Vries, Deepansh Jain and Flavius Balaj. Jain saw his startup, Shifu App, acquired for $8 million in 2016 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.

ACK Group leads $11.1m investment in Reviver Auto

California-based Reviver Auto, which is the developer of a digital licence plate, has secured $11.1 million in funding. Australia’s Austock Group (ACK Group) led the round with participation from other investors that included WRV and a number of strategic individual investors.

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.

The investment accelerates the development of the Reviver Auto platform and its patented technology, including RConnect, a platform that manages the RPlate’s functionality.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.