American Express Ventures and Citi Ventures have exited flight insurance software developer Freebird in an acquisition by Capital One.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

The Alibaba, Xiaomi, Foxconn, UCar and Duowan-backed smart electric carmaker has floated in the US through an offering valuing it in excess of $21bn.

GMAg provided $15m in convertible note financing that will be put towards the Winnebago-backed electrification equipment maker's ongoing series C round.

Volvo Cars, Corning and Cornes-backed lidar technology developer Luminar is merging with a special purpose acquisition vehicle to form a company with an expected $3.4bn valuation.

Proeza Ventures, took part in the first disclosed round for the electric truckmaker, a strategic partner and subsdiary of fellow Proeza subsidiary Metalsa.

The electric powertrain and power module producer raised $21.8m in a Legend Capital-led round that also featured Lenovo Capital.

Mitsubishi, MS&AD and existing investor SoftBank Ventures Asia took part in a round that followed the car trading platform's $90m series B last year.

The smart electric carmaker, which has raised a reported $2.5bn from investors including Alibaba, Foxconn, UCar and Xiaomi, has set a placeholder target of $100m.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.