Startups creating defence technologies like drones, AI and hypersonics are in demand. But can they work well with big defence contractors?

Blockchain technology provider Venom Foundation is joining Iceberg Capital on a $1bn fund while BioNTech is paying $440m for portfolio company InstaDeep.

Kelun Pharmaceutical spinoff Kelun Biotech raised $581m in a round also featuring Merck & Co, while KreditBee hiked its MUFG-backed series D to $180m.

USAA, Samsung and UEM chipped in as Lumotive raised $13m, while Printpack and Braskem are exiting Nexus Circular in a $150m acquisition.

China Mobile and Hexie Health Insurance co-led Moore Threads’ $215m series B round while Eicher Motors provided $37.4m for Stark Future.

Mitsubishi UFJ Financial provided $200m for Akulaku while various Chinese corporates participated in Freetech’s $100m series B round.

Meituan led a $100m series C round for Qitan Tech while IAG Firemark Ventures led a $54m series D for TicToc.

Microsoft, Porsche and Molicel helped Group14 close a $614m series C round while Salesforce was among the investors in Mews’ $185m series C.

PragmatIC Semiconductor closed a $125m Saudi Aramco-backed series C round while Manulife provided $100m in funding for EDF spinoff PowerFlex.

State Power Investment Corporation spinoff State Fuel Cell Technology Corporation raised $648m while Mercedes Benz spinoff RepairSmith is being bought for $190m.

McCain Foods participated in a $150m round for GoodLeaf Farms while Shinsegae, YBM and SoftBank helped lift Mathpresso’s series C to $70m.

Keurig Dr Pepper paid over $860m for a 30% stake in Nutrabolt while corporate-backed Snapdeal cancelled a long-awaited IPO.

SoftBank contributed to a $700m round for sports memorablia retailer Fanatics while Drata, ShopBack and First Mode each notched up $200m.

GSK, Johnson and Johnson and Asahi Kasei helped take Pulmocide’s series C round to $144m while Slingshot raised nearly $41m from investors including Lockheed Martin.