Transport

Bluegogo is handing over its bicycle sharing operations to rival Biker, having halted rentals amid a growing consumer backlash.

The limousine ride-sharing service has secured $106m in a series B+ round co-led by Baidu and Nio, following an $88m series B in July.

If it is shown that a different funding structure to just venture capital is helpful in AI then implications could cascade to other industries.

Five companies backed by internet company Tencent raised large amounts in their initial public offerings (IPOs) over the past few months. It appears to be a bout of IPO exits that may not ended yet.

Medical technology developer Smart Xingtong has contributed to a $58m round for Bluegogo, which will use the funds to continue its international expansion.

The Alstom, Solvay and Schneider Electric-sponsored venture firm has closed new financing, bringing the total under its management to about $590m.

BitAuto's e-commerce and financing spinout, which counts Tencent, Baidu and JD.com as investors, floated at the top of its range.

The BMW and Workday-backed carpooling platform has revealed two funding rounds that raised a total of $31m between them.