Fortum has invested $5.5m in Exeger Sweden in return for a 5% stake in the solar technology producer.

The tidal turbine company secured funding from investors including Farinia and IWF Group as it aims to expand internationally.

The biotech developer, an Oxford University spinout, has hired securities brokerage Stifel to assist in its initial public offering.

Foxconn has led the round through its European investment arm Ginko Ventures, while the corporate also invested directly alongside a consortium that included Renault and Sharp.

The biopharmaceutical developer, a spinout from medical device company Q-Med, is entering the third phase of testing a drug to prevent kidney failure.

BMW iVentures is establishing a $530m fund as it moves its headquarters from New York to Palo Alto to be closer to potential investees and drive an international expansion.