Tada owner MVL to launch electric tuk-tuk business in region as it targets $134m funding round

Dubbed the ONiON T1, MVL's electric tuk-tuk is being developed with the support of leading South Korean automotive parts manufacturers. PHOTO: MVL
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SINGAPORE - Singapore-based MVL, the blockchain start-up behind zero-commission ride hailing service Tada, has started a Series C funding exercise with an eye to raise more than US$100 million (S$134 million) as it prepares to launch an electric tuk-tuk business in the region, chief executive Kay Woo told The Straits Times.

The funding exercise is expected to conclude in the fourth quarter of this year, said Mr Woo.

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