Transport

Gene sequencing corporate spinoff MGI Tech closed a $1bn series B round backed by IDG Capital and CPE Capital. The company offers an array of products, some of which have been used for Covid-19 detection and forms part of the promising space of genetics tech.

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

The Arm-backed Hopu-Arm Innovation Fund led a series C1 round for the autonmous driving software developer, whose existing backers include Baidu Ventures.

The oil and metals producer’s accelerator program has announced five startups for its second edition and hosted the demo day online.

Tsinghua-founded autonomous driving software company Idriverplus has secured Hopu-Arm Innovation Fund for its series C1 round.

Jim Aota has moved up to CEO at Yamaha Motor Ventures and Laboratory Silicon Valley, replacing George Kellerman who has moved to Toyota.

Naya Capital has returned to reinvest nearly $110m in the Daimler and Didi-backed on-demand ride provider, valuing it just shy of $1.9bn.

The trucking management software provider secured $42m in a round led by Prologis Ventures that also featured new strategic partner Daimler.

Poste Italiane has taken part in a $27.2m round for the last-mile delivery service having already launched a strategic partnership in January.

US-based construction services provider Katerra received $200m in funding from the SoftBank Vision Fund I, the vehicle formed by telecoms conglomerate SoftBank.

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