Hitachi will begin investing through the newly formed Hitachi Ventures in June, and the unit’s CEO will be ex-3M New Ventures president Stefan Gabriel.

Mobivia has exited app-based car rental service Drivy, which has been bought by US peer Getaround for $300m, creating a business with more than 5 million users.

Allianz has provided all the capital for AV8 Ventures' first fund, the VC firm being led by former executives at IBM Ventures and Qualcomm Ventures.

Commerzbank-backed Bankin' landed $22.6m in the round, which will enable the financial management app developer to hire 20 additional staff by the end of the year.

Each week the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Legal & General co-led the $32.8m series C round, which will fund the financial wellbeing platform's growth in the UK and US.

SEB has formed a venture capital vehicle, Fairpoint Capital, to invest in B2B-focused startups out of a $97m fund with ex-SEB Venture Capital president Frederick Johansson as its head.

QBE and Starr Companies-backed insurance underwriting software provider Cytora has secured $32.6m in an EQT Ventures-led round.

The wind turbine maker has bought just over 25% of Sowitec, in the process securing a three-year option to wholly acquire the solar and wind project developer.

ING Ventures led a $21.4m round that also featured PSN, increasing the personal finance management app developer's valuation to $180m.