Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Volkswagen has co-led a $600m round for Northvolt together with Baillie Gifford and Goldman Sachs, while Scania also returned.

Joyson Electronics has farmed out a stake in its smart driving subsidiary Joy Next to investors including Baofeng Energy and Ningbo Gaofa Automotive Control System.

DMG Ventures has contributed to a $308m funding round that increased Cazoo’s overall funding to some $558m and its valuation to more than $2.5bn.

Tencent has led a round worth hundreds of millions of dollars for New Ruipeng, which is now valued at $4.4bn and also backed by Boehringer Ingelheim and Country Garden.

Delivery Hero and SoftBank-backed Rappi has picked up more than $300m from a group of investors including T. Rowe Price Associates.

Tencent joined GL Ventures and YF Capital to co-lead a $176m funding round for Taimei Technology, while SoftBank China Venture Capital also invested.

Novo and Bristol Myers-Squibb formed part of a group of new and existing backers that provided cash to Galecto, based on research from the universities of Lund and Edinburgh.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Owl Insights secured funding from Blue Venture Fund and Ascension Ventures to advance its product development and distribution.