Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Alibaba could potentially sell $550m of shares in the deal, which has been given approval by regulators and which will give Tata a 64% stake in return for $1.2bn.

PayPal Ventures has returned to take part in the virtual currency platform developer’s series D round, which secured it a $2.4bn post-money valuation.

The Intel, Juniper Networks, Nissho and Wipro-backed cloud security software provider has closed a round that took its total funding to $330m.

The Evonik and Continental Grain Company-backed bio-based materials producer has appointed a new CEO alongside its latest funding round.

Fidelity led a series C round for NTT Docomo-backed cloud storage services provider Wasabi that increased its valuation to $700m.

Salesforce Ventures has chipped into the online learning platform’s latest round, bringing its overall funding to about $150m.

Susquehanna International Group's SIG China subsidiary led a round for the online car dealership that included several existing backers.

Novo Seeds co-led a $61.7m round for the oncology therapy developer with Ysios Capital, following a Novo Nordisk Foundation grant.

Geothermal energy technology developer Fervo has received $28m from investors including Congruent Ventures and Helmerich & Payne.