Touchstone Innovations has doubled down in its efforts to prevent a hostile takeover by rival IP Group, saying the updated offer continues to undervalue the firm.

The social VR platform, which had raised almost $16m from investors including Tencent, Comcast and Alphabet, will close after failing to raise more funding.

The bankrupt saltwater electrolyte battery developer had raised $190m in financing since it was spun out from Carnegie Mellon eight years ago, but was bought for less than $9.2m.

The bankrupt saltwater electrolyte battery developer had raised $190m in financing from investors including Shell, Total and Exelon but was bought for less than $9.2m.

Twitter-backed music streaming service SoundCloud is reportedly in advanced talks to sell a majority stake to the two to alleviate financial struggles.

Dermatology product developer and JLabs graduate Sienna Biopharmaceuticals floated at the middle of its range having raised $86m in venture funding.

The e-commerce platform, backed by investors including SoftBank, Intel and Alibaba, has decided against a $950m sale and elected to instead restructure.

The American Express and Deloitte-backed cloud financial management software developer has agreed to an acquisition by enterprise software producer Sage.

E-commerce marketplace Flipkart has had a bid of between $900m and $950m accepted from the board of corporate-backed rival Snapdeal that now needs only shareholder approval.