Temasek Holdings

Temasek Holdings is a Singapore-based investment company founded in 1974. The firm specializes in providing debt financing and is dedicated to transforming economies, enhancing middle-income populations, and fostering emerging champions. Temasek operates across various sectors, including financial services, transportation, industrial, consumer goods, real estate, telecommunications, media, technology, and life sciences. Its strategic focus is on developing comparative advantages within these industries to support sustainable growth and innovation.

Pradyumna Agrawal

Director

Soyoun Ahn

Managing Director, Investment (Credit and Hybrid Solutions)

Gary Ang

Managing Director, Macro Strategy

Parimal Aswani

Managing Director, Technology

Ravi Balasubramanian

Managing Director, Portfolio Development, New Energy and Industrials

Siddartha Bhattacharjee

Head of Mobility and Logistics and Managing Director of Portfolio Strategy & Risk Group

Dawn Chan

Director of Investments

Yuliang Chang

Managing Director, Investment (China)

Eu Chua

Managing Director, Institutional Relations and Singapore Market

Ranjit Dandekar

Managing Director, Investment

Nagi Hamiyeh

Senior Managing Director

Reena Kanagasingam

Managing Director, Investment (Public Markets)

Ming Pey Lim

Chief of Staff, Executive Office, Deputy Chief Corporate Officer and Managing Director, Strategy Office

Paul Liu

Managing Director, Investment (Financial Services), Portfolio Strategy and Risk Group

Anuj Maheshwari

Head, Agri-Food Managing Director, Investment (Middle East and Africa)

Nicolas Meier

Managing Director, Investment (EMEA) and Director

Jingwen Miao

Managing Director, Investment (China)

Suranjan Mukherjee

Managing Director, Cross Asset Macro Portfolio and Joint Head, Public Market Investment Strategies

Ryan Rakestraw

Director

Parangam Ray

Managing Director, Organisation and People

Pierce Scranton

Managing Director, Institutional Relations and Deputy Head, North America

Shaun Seow

Managing Director, Singapore Market and Head, Community Stewardship

Jason Sun

Chief Representative, Beijing and Managing Director, Investment (China)

Belinda Tan

Managing Director, Finance (Financial Management)

Man-Keung Tang

Managing Director, Macro Strategy

Sulian Tay

Operating Partner

Karen Toh

Managing Director, Finance (Treasury)

Damien Vacherot

Director

Benoit Valentin

Senior Managing Director EMEA and Head of Private Equity Fund Investments

Rob Williams

Managing Director, Investment (EMEA)

Yibing Wu Ph.D

CEO, China

Past deals in Automotive

FAIRMAT

Series B in 2025
We are bringing new, sustainable and innovative way to recycle carbon fiber composite. Thanks to our proprietary technology, we produce a recycled material. It's a light and strong high-tech material designed to be used in industries such as mobility, consumer electronics, automotive, and sports & leisure.

Sonocharge

Venture Round in 2025
Sonocharge Energy focuses on developing advanced battery technology aimed at improving rechargeable and long-duration batteries. Their platform technology enhances battery performance, safety, and charging efficiency, addressing the growing demand for higher power density in various sectors. This innovation serves a wide range of markets, including transportation, electric vehicles, e-mobility, electric bikes, scooters, aerospace, and drones. By delivering improved energy solutions, Sonocharge aims to meet the evolving needs of industries seeking to enhance their energy applications.

Blaize

Series D in 2024
Blaize, Inc., founded in 2010 and headquartered in El Dorado Hills, California, specializes in edge AI processing solutions through its proprietary hardware architecture and low-code/no-code software platform. The company targets various industries, including automotive, retail, security, industrial automation, and healthcare, providing efficient solutions that address the challenges of edge AI processing, such as low latency and high thermal and power efficiency. Blaize's innovative approach overcomes limitations of traditional AI solutions, which are often optimized for data centers rather than edge environments. With a workforce of over 200 employees, the company has established teams in California, North Carolina, and international subsidiaries in India and the UK. Blaize has successfully raised over $200 million from a mix of strategic and financial investors, reinforcing its position as a leader in the AI-enabled edge computing market.

Ola Electric

Series E in 2023
Ola Electric Mobility is an Indian company that specializes in electric vehicles (EVs) and their components. Founded on May 26, 2017, by Ankit Jain and Anand Shah, the company is headquartered in Bengaluru. Ola Electric is dedicated to enhancing electric mobility by developing vertically integrated technology and manufacturing capabilities for EVs, including battery packs, motors, and vehicle frames. It operates the Ola Futurefactory, where it produces these core EV components. The company also focuses on leasing electric cars and providing shared daily mobility solutions. Additionally, Ola Electric is building charging and battery swapping networks to ensure convenient and reliable access to electric mobility. As part of its growth strategy, the company aims to capitalize on the electrification of transportation in India and explore export opportunities in select international markets.

Ola Electric

Private Equity Round in 2023
Ola Electric Mobility is an Indian company that specializes in electric vehicles (EVs) and their components. Founded on May 26, 2017, by Ankit Jain and Anand Shah, the company is headquartered in Bengaluru. Ola Electric is dedicated to enhancing electric mobility by developing vertically integrated technology and manufacturing capabilities for EVs, including battery packs, motors, and vehicle frames. It operates the Ola Futurefactory, where it produces these core EV components. The company also focuses on leasing electric cars and providing shared daily mobility solutions. Additionally, Ola Electric is building charging and battery swapping networks to ensure convenient and reliable access to electric mobility. As part of its growth strategy, the company aims to capitalize on the electrification of transportation in India and explore export opportunities in select international markets.

Mahindra Electric Automobile

Private Equity Round in 2023
Mahindra Electric Automobile operates as a four-wheeler (4W) passenger electric vehicle company.

TeraWatt Technology

Series C in 2023
TeraWatt Technology Inc., founded in 2017 and headquartered in Santa Clara, California, specializes in the design and development of lithium-ion rechargeable batteries for various electrified applications. The company focuses on producing batteries that combine energy and power density with safety, catering to the needs of industrial clients. Through advanced engineering practices and efficient production processes, TeraWatt Technology aims to provide long-lasting, safe, and reliable power alternatives, supporting a wide range of electrification initiatives. Additionally, TeraWatt has a subsidiary located in Tokyo, Japan, further expanding its reach in the global market.

Foretellix

Series C in 2023
Foretellix Ltd. is a company specializing in the development of a verification framework for Intelligent Autonomous Systems, particularly focusing on Autonomous Vehicles. Established in 2010 and headquartered in Tel Aviv, Israel, Foretellix provides innovative solutions that automate the verification of safety-critical automotive systems. The company has created a platform that enables measurable safety verification, utilizing a coverage-driven methodology that has been successfully applied in the semiconductor industry. This platform facilitates the analysis of safety-related metrics to ensure comprehensive coverage of various driving scenarios, allowing clients to confirm that their vehicles perform safely in critical situations. By addressing the challenges of verifying increasingly complex automated driving systems, Foretellix aims to reduce risks, costs, and time to market for autonomous vehicle deployment.

Ionblox

Series B in 2023
Ionblox specializes in advanced battery technology that focuses on the development of silicon-based formulations to enhance lithium-ion batteries. The company has created proprietary anodes characterized by high active silicon content and loading levels, which address common issues such as poor cycling performance and swelling. By integrating these high-capacity anodes with innovative cathode materials, Ionblox produces large format pouch cells that achieve significantly higher energy densities compared to existing commercial options. This technology is particularly beneficial for electric vehicle manufacturers seeking long-lasting, high-performance batteries.

FAIRMAT

Series A in 2022
We are bringing new, sustainable and innovative way to recycle carbon fiber composite. Thanks to our proprietary technology, we produce a recycled material. It's a light and strong high-tech material designed to be used in industries such as mobility, consumer electronics, automotive, and sports & leisure.

Brusa HyPower

Corporate Round in 2022
BRUSA HyPower is an energy conversion company focused on producing power technologies for electromobility. They manufacture a range of products including batteries, fuel cells, direct current converters, and onboard charging systems. These offerings are designed to support the transformation of electric vehicles for both on-highway and off-highway applications. By developing e-mobility systems suitable for everyday use, BRUSA HyPower aims to enhance the adoption of electric vehicles, contributing to long-term environmental and societal benefits. Their commitment to an ambitious environmental strategy underscores their role in promoting sustainable energy solutions.

TeraWatt Technology

Series B in 2022
TeraWatt Technology Inc., founded in 2017 and headquartered in Santa Clara, California, specializes in the design and development of lithium-ion rechargeable batteries for various electrified applications. The company focuses on producing batteries that combine energy and power density with safety, catering to the needs of industrial clients. Through advanced engineering practices and efficient production processes, TeraWatt Technology aims to provide long-lasting, safe, and reliable power alternatives, supporting a wide range of electrification initiatives. Additionally, TeraWatt has a subsidiary located in Tokyo, Japan, further expanding its reach in the global market.

Whale

Series C in 2022
Whale provides an omnichannel marketing platform that transforms marketing operations, digitalizes store operations and unifies offline & online brand experiences leveraging AI + IoT + Big Data to “Connect Brands with Customer”. Founded in 2017, Whale has since empowered 1000+ global FMCG, F&B, Fashion and Automotive brands including P&G, Unilever, Starbucks, UNIQLO, ARMANI, Watsons, Xiaomi, Midea, Lotus, POP MART etc. with over 150,000 stores across APAC, enabling brands to embrace the full potential of digital transformation. Equipped with AI capabilities, patented ReID technology and enterprise-grade security, Whale platforms comprising of Space Data Platform (SDP), Whale Marketing Cloud (WMC), Whale Open Platform (WOP) and Whale Analytics, serve as the end-to-end digitalization engine that enables brands to seamlessly engage with each customer. Whale is backed by Temasek Holding, NIO Capital, Source Code Capital, Linear Capital, Alpha Commune, BAI Capital and The Jiangmen, with 6 offices across Singapore, Hangzhou, Shanghai, Beijing and Shenzhen.

AutoBrains

Series C in 2022
AutoBrains is a developer of a visual intelligence platform designed to enhance the safety and effectiveness of autonomous driving services. The platform leverages advanced artificial intelligence, employing signature-based representation structures and unsupervised learning methodologies to create a detailed understanding of the vehicle's surroundings. This technology supports various applications, including advanced driver assistance systems and vehicle localization, ultimately aiming to improve car safety and reduce casualties on global roadways. With a foundation of over 200 patents, AutoBrains' self-learning technology represents a significant advancement in automotive visual intelligence.

Ola Electric

Series C in 2021
Ola Electric Mobility is an Indian company that specializes in electric vehicles (EVs) and their components. Founded on May 26, 2017, by Ankit Jain and Anand Shah, the company is headquartered in Bengaluru. Ola Electric is dedicated to enhancing electric mobility by developing vertically integrated technology and manufacturing capabilities for EVs, including battery packs, motors, and vehicle frames. It operates the Ola Futurefactory, where it produces these core EV components. The company also focuses on leasing electric cars and providing shared daily mobility solutions. Additionally, Ola Electric is building charging and battery swapping networks to ensure convenient and reliable access to electric mobility. As part of its growth strategy, the company aims to capitalize on the electrification of transportation in India and explore export opportunities in select international markets.

Carro

Series C in 2021
Carro is an automotive marketplace that offers a full-stack service for all aspects of car ownership. It challenges the traditional way of buying and selling of cars through a proprietary pricing algorithm. Carro also provides a range of services that offer everything a car owner needs throughout their car ownership journeys such as an in-house financing solution warranty options and Singapore’s first on-demand roadside recovery platform. The company was founded in 2015 and is headquartered in Singapore.

AutoBrains

Series C in 2021
AutoBrains is a developer of a visual intelligence platform designed to enhance the safety and effectiveness of autonomous driving services. The platform leverages advanced artificial intelligence, employing signature-based representation structures and unsupervised learning methodologies to create a detailed understanding of the vehicle's surroundings. This technology supports various applications, including advanced driver assistance systems and vehicle localization, ultimately aiming to improve car safety and reduce casualties on global roadways. With a foundation of over 200 patents, AutoBrains' self-learning technology represents a significant advancement in automotive visual intelligence.

Whale

Series B in 2021
Whale provides an omnichannel marketing platform that transforms marketing operations, digitalizes store operations and unifies offline & online brand experiences leveraging AI + IoT + Big Data to “Connect Brands with Customer”. Founded in 2017, Whale has since empowered 1000+ global FMCG, F&B, Fashion and Automotive brands including P&G, Unilever, Starbucks, UNIQLO, ARMANI, Watsons, Xiaomi, Midea, Lotus, POP MART etc. with over 150,000 stores across APAC, enabling brands to embrace the full potential of digital transformation. Equipped with AI capabilities, patented ReID technology and enterprise-grade security, Whale platforms comprising of Space Data Platform (SDP), Whale Marketing Cloud (WMC), Whale Open Platform (WOP) and Whale Analytics, serve as the end-to-end digitalization engine that enables brands to seamlessly engage with each customer. Whale is backed by Temasek Holding, NIO Capital, Source Code Capital, Linear Capital, Alpha Commune, BAI Capital and The Jiangmen, with 6 offices across Singapore, Hangzhou, Shanghai, Beijing and Shenzhen.

Innovusion

Series B in 2021
Innovusion, Inc. is a developer of advanced image grade LiDAR sensor systems tailored for level 4 and 5 autonomous vehicles and advanced driver-assistance systems (ADAS). Founded in 2016 and based in Sunnyvale, California, the company focuses on delivering high-performance perception solutions that combine range, resolution, and hardware-accelerated sensor fusion. Their compact sensor systems are designed for ease of integration and cost-effectiveness, making them suitable for demanding applications in the autonomous driving market. Innovusion's innovative technology positions it as a key player in the rapidly evolving landscape of autonomous transportation.

Blaize

Series D in 2021
Blaize, Inc., founded in 2010 and headquartered in El Dorado Hills, California, specializes in edge AI processing solutions through its proprietary hardware architecture and low-code/no-code software platform. The company targets various industries, including automotive, retail, security, industrial automation, and healthcare, providing efficient solutions that address the challenges of edge AI processing, such as low latency and high thermal and power efficiency. Blaize's innovative approach overcomes limitations of traditional AI solutions, which are often optimized for data centers rather than edge environments. With a workforce of over 200 employees, the company has established teams in California, North Carolina, and international subsidiaries in India and the UK. Blaize has successfully raised over $200 million from a mix of strategic and financial investors, reinforcing its position as a leader in the AI-enabled edge computing market.

Ola

Private Equity Round in 2021
Ola operates a mobile technology platform that integrates city transportation for customers and driver partners in India. Its mobile application allows its customers to book a range of cabs, auto-rickshaws, bikes, and shuttle buses. Ola's mobile application allows customers to book city taxi, outstation travel, car rental, and corporate travel services. Its mobile application is available on Windows, Android, and iOS platforms. Ankit Bhati and Bhavish Aggarwal founded Ola on December 1, 2010. It has its headquarters with additional offices in Bengaluru in India.

Innovusion

Series B in 2021
Innovusion, Inc. is a developer of advanced image grade LiDAR sensor systems tailored for level 4 and 5 autonomous vehicles and advanced driver-assistance systems (ADAS). Founded in 2016 and based in Sunnyvale, California, the company focuses on delivering high-performance perception solutions that combine range, resolution, and hardware-accelerated sensor fusion. Their compact sensor systems are designed for ease of integration and cost-effectiveness, making them suitable for demanding applications in the autonomous driving market. Innovusion's innovative technology positions it as a key player in the rapidly evolving landscape of autonomous transportation.

CarTrade

Series H in 2020
CarTrade is a prominent online automotive marketplace in India, facilitating the buying and selling of new and used vehicles. The company operates a multi-channel platform featuring several brands, including CarWale, BikeWale, and Shriram Automall. CarTrade connects various stakeholders in the automotive sector, such as vehicle buyers, sellers, dealers, and original equipment manufacturers (OEMs). Through a network that spans over 80 cities and involves more than 1,200 dealers, CarTrade conducts car auctions, empowering customers to find suitable vehicles at competitive prices. The platform also offers a range of services that support automotive transactions, including marketing, financing, and other related activities, enhancing the overall experience for its users.

Carbon

Series E in 2019
Carbon, Inc. is a technology company based in Redwood City, California, that specializes in advanced digital manufacturing solutions. Founded in 2013, Carbon designs and manufactures a range of products, including its proprietary Digital Light Synthesis technology, which utilizes digital light projection and programmable liquid resins to create high-quality parts with superior mechanical properties and surface finishes. The company also offers SpeedCell, a connected manufacturing system that facilitates the consistent production of end-use parts at scale, along with automated solutions like the Smart Part Washer. Carbon provides various materials, such as rigid and flexible polyurethanes, cyanate esters, and epoxies, serving diverse industries including automotive, consumer products, dental, industrial, and life sciences. By leveraging its Continuous Liquid Interface Production Technology, Carbon enables manufacturers to pursue innovative business models, including mass customization and on-demand inventory, while reducing tooling costs and accelerating time to market.

Blaize

Series C in 2018
Blaize, Inc., founded in 2010 and headquartered in El Dorado Hills, California, specializes in edge AI processing solutions through its proprietary hardware architecture and low-code/no-code software platform. The company targets various industries, including automotive, retail, security, industrial automation, and healthcare, providing efficient solutions that address the challenges of edge AI processing, such as low latency and high thermal and power efficiency. Blaize's innovative approach overcomes limitations of traditional AI solutions, which are often optimized for data centers rather than edge environments. With a workforce of over 200 employees, the company has established teams in California, North Carolina, and international subsidiaries in India and the UK. Blaize has successfully raised over $200 million from a mix of strategic and financial investors, reinforcing its position as a leader in the AI-enabled edge computing market.

Ola

Secondary Market in 2018
Ola operates a mobile technology platform that integrates city transportation for customers and driver partners in India. Its mobile application allows its customers to book a range of cabs, auto-rickshaws, bikes, and shuttle buses. Ola's mobile application allows customers to book city taxi, outstation travel, car rental, and corporate travel services. Its mobile application is available on Windows, Android, and iOS platforms. Ankit Bhati and Bhavish Aggarwal founded Ola on December 1, 2010. It has its headquarters with additional offices in Bengaluru in India.

CarTrade

Series F in 2017
CarTrade is a prominent online automotive marketplace in India, facilitating the buying and selling of new and used vehicles. The company operates a multi-channel platform featuring several brands, including CarWale, BikeWale, and Shriram Automall. CarTrade connects various stakeholders in the automotive sector, such as vehicle buyers, sellers, dealers, and original equipment manufacturers (OEMs). Through a network that spans over 80 cities and involves more than 1,200 dealers, CarTrade conducts car auctions, empowering customers to find suitable vehicles at competitive prices. The platform also offers a range of services that support automotive transactions, including marketing, financing, and other related activities, enhancing the overall experience for its users.

Nio

Series B in 2016
Nio is a Chinese electric vehicle manufacturer that designs, manufactures, and sells premium smart electric vehicles globally. Founded in 2014, Nio offers a range of SUVs with varying seating capacities, along with innovative charging solutions such as battery swapping services and mobile charging trucks. The company also provides value-added services like insurance packages, maintenance, and roadside assistance. Nio collaborates with industry leaders for autonomous driving technologies and manufactures its vehicles through strategic partnerships. As of 2023, Nio has sold over 160,000 electric vehicles in China alone, capturing approximately 2% of the market share for new energy passenger vehicles.

CarTrade

Series E in 2016
CarTrade is a prominent online automotive marketplace in India, facilitating the buying and selling of new and used vehicles. The company operates a multi-channel platform featuring several brands, including CarWale, BikeWale, and Shriram Automall. CarTrade connects various stakeholders in the automotive sector, such as vehicle buyers, sellers, dealers, and original equipment manufacturers (OEMs). Through a network that spans over 80 cities and involves more than 1,200 dealers, CarTrade conducts car auctions, empowering customers to find suitable vehicles at competitive prices. The platform also offers a range of services that support automotive transactions, including marketing, financing, and other related activities, enhancing the overall experience for its users.

Whale

Whale provides an omnichannel marketing platform that transforms marketing operations, digitalizes store operations and unifies offline & online brand experiences leveraging AI + IoT + Big Data to “Connect Brands with Customer”. Founded in 2017, Whale has since empowered 1000+ global FMCG, F&B, Fashion and Automotive brands including P&G, Unilever, Starbucks, UNIQLO, ARMANI, Watsons, Xiaomi, Midea, Lotus, POP MART etc. with over 150,000 stores across APAC, enabling brands to embrace the full potential of digital transformation. Equipped with AI capabilities, patented ReID technology and enterprise-grade security, Whale platforms comprising of Space Data Platform (SDP), Whale Marketing Cloud (WMC), Whale Open Platform (WOP) and Whale Analytics, serve as the end-to-end digitalization engine that enables brands to seamlessly engage with each customer. Whale is backed by Temasek Holding, NIO Capital, Source Code Capital, Linear Capital, Alpha Commune, BAI Capital and The Jiangmen, with 6 offices across Singapore, Hangzhou, Shanghai, Beijing and Shenzhen.
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