Transport

Ola has acquired Times Internet-backed public transportation app developer Ridlr in an all-stock deal reportedly worth almost $50m.

The corporate has agreed to acquire Mobike, backed by Tencent, for $2.7bn.

The file storage cloud platform Dropbox floated above the original range it had set in an oversubscribed IPO which valued it at over $8bn.

Managing director Sherwin Prior is leaving GM's corporate venturing unit after more than seven years to set up his own transport-focused VC fund.

Existing investor Legend Capital returned for an eight-figure series A round that will fund the electric bicycle sharing service's expansion.

Groupe ADP and existing investor Airbus Ventures kicked in funds as the transport management platform boosted its total funding to more than $16m.

The Cronus Bike-backed bicycle sharing service is set to declare bankruptcy, leaving both investors and users out of pocket.

The short-range air transport service has completed a round backed by its new strategic partner, Airbus Helicopters.

Uber will acquire a 27.5% stake in Grab as part of a deal where the latter will get its local operations, as a small number of players tighten control of the sector worldwide.