3 2 月, 2023

ION Mobility Closes US$18.7m in Series A funding; Brings TVS Motor Company on Board as Strategic Investor

Singapore, Feb 3, 2023 - (ACN Newswire via SEAPRWire.com) - ION Mobility (ION) today announced new investments of US$18.7 million in its Series A funding round. Additionally, the company also brings TVS Motor Company on board as its strategic investor, through TVS Motor's Singapore subsidiary, TVS Motor (Singapore). As part of this investment agreement, TVS Motor will provide ION with the necessary ecosystem support to be successful in the electric two-wheeler markets of Singapore and Indonesia.ION's latest fundraise and partnership with TVS Motor is to support its vision to build Southeast Asia's leading electric mobility solutions company starting with Indonesia. Other investors include AC Ventures Malaysia, Michael Sampoerna and ION's Chief Manufacturing Officer Ng Ho Sen, with existing investors such as TNB Aura, Quest Ventures, Monk's Hill Ventures, Village Global, GDP Venture and Seeds Capital also participating in the round.Founder and CEO James Chan said, "I am delighted with the vote of confidence that my team and I have received from TVS Motor via our funding round and partnership. We are excited to draw upon TVS Motor's decades of global expertise in two-wheelers to accelerate our "Mobius" M1-S production readiness, as well as the design and development of other models. We look forward to leading the charge towards an electric and sustainable two-wheeler future together."This new funding round brings the total capital raised by ION to over US$25.5 million since 2020. The company will invest the capital into Indonesia to grow its local team, operations and capabilities. This includes its sales and marketing presence, local supply chain networks, production tooling and manufacturing capabilities in Indonesia, in order to achieve at least 50% local content.Speaking on the occasion, Mr. Sudarshan Venu, Manging Director, TVS Motor Company said, "TVS Motor is committed to developing exciting products for consumers across global markets. We are thrilled to partner with ION Mobility, a full-stack EV company with a strong team of engineers and technical base in Singapore, to drive the premium electric two-wheeler growth in the region. We share a common vision and are eager to support them as a strategic investor."This announcement comes on the heels of ION Mobility's launch of its M1-S electric scooter in Jakarta in November 2022, which also saw the company sign a broad-ranging Memorandum of Understanding (MOU) with Indonesia's national grid operator PT Perusahaan Listrik Negara (PLN) to expand PLN's charging network, in addition to two-wheeler fast-charging technology research and user outreach and education. The MoU was officiated by Indonesian Minister of Industry, Agus Gumiwang Kartasasmita at the Indonesia Motorcycle Show 2022, with Singapore Ambassador to Indonesia Mr. Kwok Fook Seng also in attendance.About ION MobilityION Mobility is a tech and automotive OEM on a mission to create and deliver aspirational and sustainable mobility and energy solutions for everyone. They are committed to creating great products and seamless user experiences for their customers. Their products combine advanced hardware and software technology with human-centred design to deliver smart electric motorbikes and energy charging and storage solutions that are for everyone to use. Their vision is to be Southeast Asia's top technology company leading their region's transition towards a low-carbon economy across Southeast Asia, starting with the ION M1-S. For more information, please visit www.ionmobility.com and ionmobility.substack.com.For more information, please contact: hello@ionmobility.comAbout TVS Motor CompanyTVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in their 100-year legacy of Trust, Value, and Passion for Customers and Exactness, they take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. They are the only two-wheeler company to have received the prestigious Deming Prize. Their products lead in their respective categories in the J.D. Power IQS and APEAL surveys. They have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Their group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Their subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which they operate. For more information, please visit www.tvsmotor.com.For more information, please contact:KS Harini – ks.harini@tvsmotor.comNikita Verma – nikita.verma@tvsmotor.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

31 10 月, 2021

Golf: Canada’s Pendrith grabs three-stroke PGA Bermuda lead

MIAMI (AFP) - Canadian Taylor Pendrith reeled off four consecutive birdies on his way to a six-under par 65, seizing a three-stroke lead after Saturday's (Oct 30) third round of the US PGA Bermuda Championship. The 30-year-old newlywed from suburban Toronto, who barely practiced before the event began, stood on 17-under par 196 after 54 holes at Port Royal Golf Course in Southampton. New Zealand's Danny Lee was second on 199 after a 65 and Australian Lucas Herbert matched his career-low PGA round from Friday with a 65 to stand third on 200. Pendrith, coming off a career-low 61 on Friday that gave him a one-shot lead, stumbled early with a bogey at the fifth hole but responded with four birdies in a row starting at the par-5 seventh. He added birdies at the par-3 13th and 16th holes, sinking a 40-footer at the latter for only the fourth birdie of the day at 16, and tapped in for birdie at the par-5 17th. "It's definitely nice to get a couple late in the round," Pendrith said. "To see that 40-plus footer go in was a nice bonus." Pendrith, ranked 239th in the world, is chasing his first PGA title. He managed his best PGA finish of 11th in July at the Barbasol Championship. He expects a challenge not only from rivals but from predicted windy and rainy conditions for Sunday's final round, which was moved earlier to try and finish before the worst storms. "It's going to be tough. Anything can happen. It's going to be probably a crazy day," Pendrith said. "It's nice to be a couple ahead. I'm just going to try and grind it out and make a few pars and see what happens. I'll try and stick to what I know. It's going to be a hard day out there." Aussie, Kiwi in hunt Lee birdied the par-5 second and ran off three consecutive birdies starting at the fifth. He began the back nine with back-to-back birdies but stumbled with back-to-back bogeys at 13 and 14 before righting the ship with birdies at 15 and 17. "I haven't had this kind of week in a while," Lee said. "It's good to be back in contention. I played very well overall." South Korean-born Lee, a 31-year-old who became a New Zealand citizen in 2008, won his only PGA title at the 2015 Greenbrier Classic. Herbert, who broke the head of his driver on the range just 12 minutes before teeing off, birdied the fifth and seventh holes before taking a bogey at eight, which he followed with three birdies in a row starting at the ninth as well as birdies at 14 and 17. The 25-year-old is a two-time European Tour winner, having taken last year's Dubai Desert Classic and the Irish Open this past July. "It's definitely a big thing to have won before and know what it takes to win. I've got some experience there," Herbert said. "But Taylor is a great player. There are some good names right there. Experience is good but I'm going to have to play well to beat them." His best US PGA finish was a share of 18th at this year's Memorial tournament. More on this topic Related Story Golf: Canada's Pendrith grabs Bermuda lead after sizzling 61 Related Story Golf: Expect big stars to come and compete on Asian Tour, says chief executive