Both the number of spin-outs created and the level of funding invested should increase by 2020.

The internet company is set to open a European base in London, and sources claim it has already hired most of its initial team.

Mahindra Resorts & Holidays, part of the Mahindra Group, has purchased an 18.8% stake in Holiday Club Resorts Oy to increase its European presence in the vacation ownership industry.

Alovita aims to prevent the impaired health conditions that result from bedsores.

The UK-based fund will target startups across the globe within the fintech sector as it seeks to keep abreast of innovations in the space.

$35m is to be paid upfront, with a further $40m depending on future milestones.

Lanxness took a majority stake in Evocatal, and joined existing investors including High-Tech Gruenderfonds in backing the enzymes producer.