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

The appliance and electronics retailer has spun off an e-commerce and retail services arm with external funding valuing it at $3.8bn.

Rock Springs has led a round that will drive R&D and recruitment at AI drug design company Genesis Therapeutics, which emerged out of Stanford.

Walmart is leading a $700m round being raised by financial services app developer PhonePe at a $5.5bn valuation as it is spun off by Flipkart.

Johns Hopkins and Pitt-linked digital pathology platform Proscia has increased its funding total to $35m with a series B round involving Hitachi Ventures.

Goodyear, Union Pacific, CN Rail, US Xpress, Kroger, The Traton Group and Navistar contributed to a round taking the smart truck developer's total funding to $648m.

The series C round was led by SoftBank Vision Fund 2 and backed by GLP Capital Partners, GV and Volvo Group Venture Capital at a $500m valuation.

The challenger bank's Orange and Stripe-backed series G has been boosted by new funding at the same $1.57bn valuation.

State-owned banks and investment firms are behind the latest funding round for the Cisco, Country Garden and Greenland Holdings-backed big data technology provider.

Digital pathology technology developer Proscia has boosted its total funding to $35m with a series B round featuring Hitachi Ventures.