The underwater drone developer, a spinout of University of Tsukuba, raised the funding in a Beyond Next Ventures-led round that included several corporates.

Amazon Alexa Fund has exited Dragon Innovation through an acquisition of undisclosed size by design and supply chain services firm Avnet.

Smart commercial lighting developer Digital Lumens, which has raised about $60m from investors including Nokia, is reportedly set to be bought for a mid-sized eight-digit sum.

Robotic arm developer Tianjin YangTian Technology raised the money in a pre-series A round led by strategic investor Lenovo Capital and Incubator Group.

University of Minnesota has revealed it launched 18 spinouts during the past financial year, putting the total number at 119.

Hong Kong X Technology Fund was established to support participants in an accelerator co-founded by professors from HKUST and University of Hong Kong.