The seven programs, formed between two University of Maryland institutions, UMB and UMCP, include a commercialisation vehicle for high-potential spinouts.

Childcare service provider UrbanSitter took its overall funding to $40m with a round led by the corporate-affiliated Advance Venture Partners.

GV-backed online travel marketplace Secret Escapes has collected $111m in equity and debt financing from investors including Singapore state-owned Temasek.

On-demand delivery platform Glovo has confirmed a $35.2m series B round co-led by Rakuten Capital that took its total funding to approximately $43m.

The private equity firm has acquired a majority stake in online property marketplace Ten-X at a $1.6bn valuation, $400m more than when CapitalG invested in 2014.

The Foxconn-backed municipal waste management software provider has raised $12m in a round led by Lifeline Ventures that boosted its total funding to more than $30m.

Glovo has raised series B capital from a consortium that included Rakuten, enabling the delivery network operator to bolster its international expansion efforts.