IT

Uber will acquire a 27.5% stake in Grab as part of a deal where the latter will get its local operations, as a small number of players tighten control of the sector worldwide.

William Kilmer has joined C5 Capital as managing partner, reuniting with Marcos Battisti, a colleague from his Intel Capital days.

Qualcomm, Huayi Brothers and Foxconn are set to exit the light-field imaging technology developer in a deal reportedly worth between $25m and $40m.

Ultimately, those unwilling or unable to compete at the top end of creating market-leading companies risk effectively bringing a knife to a gun fight - they can win sometimes in some areas, but the chances might be against them.

Naspers, which invested $32m in the internet group in 2001, three years before its IPO, will reduce its stake from 33.2% to 31.2%.

Existing investor Salesforce invested another $100m in a private placement, as the file storage platform floated above its range at an $8bn+ valuation.

OSU spinout Agility Robotics has raised $8m for robotic legs that are set to enhance the usefulness of robots for military or courier purposes.

Artificial intelligence software provider Digital Reasoning boosted its overall funding to $127m with a BNP Paribas-led round featuring HCA, Nasdaq, Square and Barclays.

Google-backed AI fund Gradient Ventures has hired Muzzammil Zaveri, a former member of Tencent's Silicon Valley team, from an investor role at venture firm KPCB.

Mythic, an AI chip developer that emerged out of UM, has closed a $40m round led by SoftBank Ventures that included another corporate venturing unit, Lockheed Martin Ventures.