360 Security and CATL helped Hozon Auto close a $1.5bn series D while Origin Energy and Tokyo Gas backed a $550m round for Octopus Energy.

Reverse mergers

Satellite operator Eutelsat agreed yesterday to merge with portfolio company OneWeb, the UK-based developer of a satellite internet system. Eutelsat owned 22.9% of the company as of October 2021 and OneWeb’s other investors include satellite services provider Hughes Network Systems, telecommunications and internet group SoftBank and Hanwha Systems, a smart technology subsidiary of conglomerate Hanwha. OneWeb’s backers will get 230 million newly issued Eutelsat shares that will represent 50% of the enlarged share capital.

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.