IT

Kingsoft’s cloud services subsidiary priced shares at the middle of the range but upsized the offering to raise $510m, with shares soaring 27% on the first day of trading.

The firm, whose previous backers have included Alibaba, Baidu and Tencent, has received an initial $110m for its fourth venture fund from a host of corporates.

Sunshine Insurance has led a $60m series C-plus round for the bookkeeping software developer that also attracted existing shareholder Xiaomi.

The SoftBank Vision Fund I, the $100bn investment vehicle of telecoms conglomerate SoftBank, and VC firm Sequoia Capital China have committed an additional $200m to China-based automotive e-commerce platform Chehaoduo, bringing its series D round to $1.7bn

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

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Tencent has returned for a series B round raised by the semiconductor technology developer, having also participated in a $43.4m funding round last year.

UC Berkeley-aligned generalised robotics software developer Covariant previously collected funding from Samsung Q Fund while it still operated in stealth mode.

GV has returned for an $87m series D round for Cockroach Labs, having already participated in all of the database technology developer’s previous rounds.

Two years after Telstra Ventures led a $43m series D round for Cumulus Networks, Nvidia has agreed to purchase the data centre networking technology provider.

Intel Capital-backed GigaSpaces increased its funding total to $60m with a round set to drive growth of its transactional data orchestration platform.