Transport

Last week the Brazilian Trade and Investment Promotion Agency, Apex-Brasil, and Global Corporate Venturing ran once again the Corporate Venture in Brasil conference to develop corporate venture capital in Brasil.

The ride hailing platform aims to relaunch as a chauffeur service with $11.8m in funding, following a ruling in April that declared the company an illegal taxi service.

The ride hailing service's board of directors has given the go-ahead to a SoftBank investment sized between $1bn and $1.25bn at a $69bn valuation.

The Kyoto University spinout has been valued at $114.7m in a cash-and-shares deal that gives University of Tokyo Edge Capital a partial exit.

Grab joined undisclosed others to invest $15m in Drive.ai, a developer of AI software for driverless cars, bringing its total funding up to $77m.

SoftBank is reportedly set to add funding to a round that will include a $400m investment by Tencent that has already been agreed.

Deutsche Bahn and General Motors were among the existing investors as Daimler paid an undisclosed amount to acquire ride sharing platform Flinc.

On-demand ride service Grab has been revealed to have been a contributor to the $45m in series B funding bicycle rental network oBike raised in August.

China-based e-commerce firm Alibaba is set to invest $798m in logistics platform Cainiao, taking its stake from 47% to 51%