Industrial

South China University of Technology spinout POI-Tech is working on industrial internet applications and will use some of the money to expand R&D activities.

The Bertelsmann-backed manufacturing software developer took its total funding past $110m with the close of the $77.3m round.

Main Sequence Ventures-backed FluroSat has joined forces with its peer Dagan and the combined business will operate from the US as Regrow.

Spacecraft manufacturer SpaceX reached a $74bn valuation, a more than sixfold increase on the $12bn it fetched when Google led a $1bn round in 2015.

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

40 North Ventures, Honeywell and Sumitomo Mitsui were among the strategic investors.

The automotive vision technology developer raised $48.9m in a round featuring Continental, Toyota AI Ventures, BMW i Ventures, Robert Bosch Venture Capital and Fluxunit – Osram Ventures.

“Before we have reached singularity developing materials faster does not provide much of an upside, as with the current regulation systems introducing them still takes a decade,” according to George Gogolev, head of Severstal Ventures, the corporate venturing unit of Russia-based industrials conglomerate Severstal.

Spacecraft manufacturer SpaceX has pushed its valuation to $74bn, a more than sixfold increase on the $12bn it fetched when Google led a $1bn round in 2015.

Prologis has participated in a series E round for the warehouse robotics technology developer, although Zebra Technologies did not return this time.

Washington University in St Louis joined a consortium of investors that provided $130m in series B financing to the commercial space station developer.