Spinouts are in line to receive a share of the government funding to advance quantum applications spanning computing, imaging, sensors and communications.

The venture capital firm’s inaugural early-stage fund, Crane I, has reached its $90m hard cap with contributions from LPs including MassMutual Ventures, with which it has established a strategic alliance.

Volkswagen, BMW and Folksam were among the investors in a $1bn round for lithium-ion battery developer Northvolt that will support work on its first factory.

Erganeo is the new moniker for regional tech transfer office Satt IDF Innov, which has invested $30.5m over the past seven years and is adopting an increasingly deep tech-led focus.

National Grid Partners invested in sound recognition technology developer Audio Analytic's $12m series B round, which will fund product development.

French regional TTOs Satt Conectus, Satt Nord and Satt Sayens hope to source skilled business leaders and management for their pipeline of deep tech spinouts.

Cambridge Innovation Capital backed sound recognition technology developer Audio Analytic's $12m series B round, having previously also supported a $5.5m series A in 2017.

Cancer therapy developer ADC has attracted $76m to extend its series E round, after AstraZeneca supported a $200m initial tranche in 2017.

Demand Analytics and Ideo-backed InFarm has landed $100m to expand its modular urban farms to retailers in the UK, US and Japan.

Eriez is now the largest shareholder in Cardiff University-founded power fault protection technology spinout FaultCurrent, having previously invested a seven-figure sum.