The ride hailing platform aims to relaunch as a chauffeur service with $11.8m in funding, following a ruling in April that declared the company an illegal taxi service.

On-demand delivery platform Glovo has confirmed a $35.2m series B round co-led by Rakuten Capital that took its total funding to approximately $43m.

Palleon Pharmaceuticals has launched with $47.6m in series A funding to commercialise cancer therapies based on technology developed at Stanford and Dundee universities.

The Foxconn-backed municipal waste management software provider has raised $12m in a round led by Lifeline Ventures that boosted its total funding to more than $30m.

The biotech spinout will use the cash to fund clinical development and proof-of-concept for its lead candidate targeting influenza by 2018 and 2019.

Evotec has invested $17.7m in Exscientia, becoming the first strategic shareholder in the drug discovery spinout, which is based on research at University of Dundee.

Nucana, a Scottish Investment Bank-backed cancer treatment developer, and Nightstar Therapeutics, an Oxford spinout focused on retinal gene therapies, have entered the public market.

Glovo has raised series B capital from a consortium that included Rakuten, enabling the delivery network operator to bolster its international expansion efforts.