Transport

The Alibaba-led series E round has proven the latest milestone for China's rapidly growing bike sharing sector as its biggest players look to move into foreign streets.

Ground transport-focused VC fund Autotech Ventures has added the car safety equipment maker to its corporate backers as it moves toward a $150m close.

Digital Garage and Beenos both invested as the online vehicle e-commerce platform increased its overall funding to $65m.

Alibaba has joined bike sharing platform Ofo's investor base, co-leading a $700m round with Hony Capital and Citic Private Equity that included Didi Chuxing.

Bicycle sharing startup Hellobike has received an undisclosed amount of funding from the electric vehicle developer, three months after closing a series B round.

The Kanematsu-backed satellite launch services startup has now raised $31m altogether and will use the capital to fund upcoming commercial and passenger launches.

China Harmony New Energy Auto Holding has spun out Independent Aftersales with $41.2m of funding, much of which came from Leaguer Auto and Aouto Investment.

Kakao has secured $437m in funding to spin out Kakao Mobility, which will operate a range of services including ride hailing app Kakao Driver.