Consumer

Moves to strengthen corporate, government and university innovation links

Consumer-focused corporate venturers committed a record $21.59bn over 137 rounds in 2016, primarily in consumer businesses, with e-commerce platforms dominating

Steamboat Ventures, a venture capital branch of entertainment and media conglomerate Walt Disney, made its second investment in the parenting e-commerce platform.

Tencent, Microsoft and eBay provided the funding, which was formally announced alongside the acquisition of eBay's India business.

Tinnitus Treatment Solutions and food standards and sanitation company RF Biocidics are among the casualties of the $146.6m writedown, with capital being diverted to more promising subsidiaries.

Ankebox, which operates a network of charging points for mobile devices, has collected $14.4m in series A funding from Sunwoda Electronic and IDG Capital.

Microsoft, Tencent and eBay are now set to invest $1.5bn in Flipkart, which is in talks to acquire rival Snapdeal and possibly also eBay's Indian business.

Petco has purchased petcare services platform PetCoach for an undisclosed sum, providing an exit to corporate investors Comcast and Pet360.

Indian e-grocer BigBasket has entered talks with Tencent, Fosun and Amazon for a round sized between $110m and $150m that could value it at $1bn.

SoftBank, which holds 33% of Snapdeal, has reportedly rescinded an agreement to provide up to $200m in debt and is said to be negotiating a merger with its rival, Flipkart.

The two dogsitting services providers have joined forces in a bid to accelerate international expansion efforts.