The series A round comes after the China-based company was founded two years ago.

Google Ventures backs RelayRides for a second time, after first investing in the company last December.

Godrej Group-backed Omnivore Capital seals its maiden transaction and approaches a first close on its fund at R60 crore ($13.2m)

Wouter Jonk, managing director of SET Venture Partners, an independent firm with local utility Delta as a limited partner, has become a board member of NGenTec.

Yvette Go, investment manager at SET, said: "O-Flexx's proprietary thermo-electric solution is absolutely unique. What makes the technology significant is that it opens up markets where electricity generation from waste heat was never feasible before."

Germany-based power utility RWE Innogy's corporate venturing unit has bought 20% of Sweden-based Airec, which makes heat exchangers for gases.