Consumer

360 Security and CATL helped Hozon Auto close a $1.5bn series D while Origin Energy and Tokyo Gas backed a $550m round for Octopus Energy.

Amid a general downturn, spinouts have been faring much better than the startup world at large.

Novartis and Cigna Ventures were part of Cleerly’s $192m series C round while Aptos Labs secured $150m from investors including FTX, Circle and Jump Trading.

BAI Capital is the second Asian venture affiliate of the media group to close a huge fund in the past month, having brought on limited partners including internet and insurance groups.

The dollar valuation of corporate-backed deals in the energy sector dropped sharply in Q2. Cleantech deals are the only exception.

There has never been a better time for corporates to invest in this sector, says Meghan Sharp, Global head of Decarbonization Partners.

But there are other benefits for both sides, researchers find.

SAIC Motor’s Shang Qi Capital vehicle led RT Advanced Materials’ $740m series D round while Contentsquare pulled in $600m from investors including SoftBank Vision Fund 2.

The professional golfing body has joined forces with sport-focused firm Elysian Park Ventures to launch strategic fund EP Golf Ventures.

Eli Lilly and Illumina took part in liquid biopsy developer Delfi Diagnostics' $225m series B round while Sompo, Yamaha Motor and Bridgestone invested $87.8m in driverless vehicle software provider Tier IV.