Transport

The ride hailing service has sold its Uber Elevate subsidiary to urban aircraft developer and portfolio company Joby alongside a new $75m investment.

The company priced an upsized IPO nearly doubling its valuation six months ago. It is part of a the food delivery space which was given a boost by the pandemic.

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

Burda Principal Investments helped the automotive e-commerce marketplace increase its funding to $107m altogether.

Honda has led a series A round for automotive e-commerce software provider Modal, an existing strategic partner and a graduate of its accelerator.

Schneider Electric Ventures has scored an exit having backed the EV fleet services provider's seed round in February 2019.

Venture firm Target Global has hired Christian Noske, previously head of corporate venturing partnership Alliance Ventures, as its latest partner.

Uber's autonomous driving spinoff, which had raised $1bn from SoftBank Vision Fund, Toyota and Denso, is merging with self-driving technology producer Aurora.

Denso and LG Technology Ventures have returned with series C capital to support the mobility technology developer's technology and international growth.

Cloud-based enterprise software producer Salesforce agreed to acquire Slack, the US-based publicly listed communication platform which previously counted telecoms firm SoftBank, internet conglomerate Alphabet and media group Comcast among its backers.

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