Transport

Its technology sector is the bedrock but the innovation boost the country needs is beginning to happen.

The employee transportation manager has raised $10.2m from Colosseum Group and plans to extend its service from three cities to five.

A snapshot of the corporate-backed venturing activity in Asia-Pacific show it is the second most active region in terms of corporate-backed venture deals and exit count.

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

Legend Capital returned to lead a series A-plus round that increased automotive parts supplier Mancando's overall funding to almost $60m.

Fosun RZ Capital led a pre-series A round for autonomous driving technology developer DeepRoute, which plans to pilot a robo-taxi service for partner Dongfeng Motor Group next month.

Singapore-based used car and automotive services marketplace Carro has backed Malaysian peer MyTukar as part of a Southeast Asian expansion drive.

Summary of corporate-backed funding initiatives 2011-19

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

Automated driving systems manufacturer CalmCar collected $14m from a SAIC Motor subsidiary and Beijing Connected Vehicles Development Fund having previously been backed by BAIC and China Unicom among others.

TuSimple has secured a $120m series D extension from investors including Mando and UPS, bringing the oversubscribed Sina-led round to a $215m close.