Ride-hailer TADA parent MVL bags $5m led by S Korean auto parts maker

Mass Vehicle Ledger (MVL), the company behind blockchain-based ride-hailing service TADA, on Thursday announced that it has raised $5 million in a recent funding round led by Central, a South Korean auto parts manufacturer.

With this additional financing, MVL aims to accelerate its plan to supply electric vehicles in Southeast Asia, setting its sights to distribute and sell 10,000 E-TukTuks (electric rickshaw) by 2021 in Cambodia, it said in a statement.