The corporate venturing divisions of the two pharmaceutical companies have invested in Mission Therapeutics, a company spun off from Cambridge University research.

Prior to founding Crowdtap in October 2009, Brandon Evans was chief strategy officer and managing partner of Mr Youth, where he created social marketing strategies for Pepsi, Microsoft and P&G.

The series A round comes after the China-based company was founded two years ago.

Lucid Commerce has reportedly raised at least $15.5m in venture funding in the past three years.

Cinchcast, a four-year old company backed by Kraft Group, takes its total funds raised past $10m.

The corporate venturing unit of chipmaker Intel also reportedly plans to invest $500m this year.

Yvette Go, investment manager at SET, said: "With MicroShade, PhotoSolar has a great product in hand."

Yvette Go, investment manager at SET, said: "O-Flexx's proprietary thermo-electric solution is absolutely unique. What makes the technology significant is that it opens up markets where electricity generation from waste heat was never feasible before."