Transport

Alisports, the sports affiliate of China-based e-commerce firm Alibaba, received $190m from China Taiping Insurance, while announcing an acquisition of its own.

The UMCP jet propulsion spinout has become the third company to secure the backing of University System of Maryland's Momentum Fund.

Prior to joining GM Ventures, Sheffer was executive director of chassis purchasing at US-based car maker General Motors.

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.