In respect of seed and venture capital (VC) funding, Heinz Oyrer posed the statement "The European market is more or less dead but the US is still open" to members of the European Entrepreneurship & Innovation @ Silicon Valley LinkedIn group.

The journey Plastic Logic has taken from a research laboratory in Cambridge, UK, to a new special economic zone just outside Moscow, Russia, via the US, Germany and a swathe of investors from all avenues and geographies says much about how technological innovation is developed and funded in a globalised world.

Two German corporate venturing units, eVenture and T-Venture, which are sponsored by local retailer Otto Group and phone operator Deutsche Telekom respectively, had backed Kaufda, which is sold to Germany-based media group Axel Springer.

DST Global - 2 will invest in later-stage companies, such as discount coupon provider Groupon in January, reported news provider Vedomosti.

Cabiedes & Partners launches $35m angel fund with backing from European publishers.

FutureE Fuel Cell Solutions gains an undisclosed amount from a T-Venture-led consortium.

News provider FusionDiginet said Tony Langham, chief executive of Lansons, would join Cubaka's board and the portfolio company would relocate to Lansons' offices but maintain its independent branding.