IT

Sector report: finance

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CSAA-backed digital home insurer Kin Insurance has backed out of a reverse merger while The Sandbox has committed $50m to a metaverse startup accelerator.

Hitachi's corporate venturing unit is lining up its next fund months after launching its sophomore vehicle, according to Stefan Gabriel.

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

CapitalG was among the investors in the digital asset transfer service’s latest round, which boosted its overall funding to $1bn and valued it at $8bn.

Despite being the first year spent entirely during the pandemic, 2021 underlined the strengths of the ecosystem with spinouts raising nearly $39.2bn.

Baidu and Geely committed $400m to Jidu, their joint venture from the hot electric vehicle space. The proceeds from this latest transaction will go to R&D and mass production of cars.

Cisco had agreed to back Jon Sakoda, founder of Decibel and a former GCV Rising Stars award winner.

Corporate-backed IoT technology producer Sigfox has filed for bankruptcy protection, possibly a casualty of a wider clustering of venture capital investment.

SoftBank Vision Fund 2 helped blockchain technology provider Blockdaemon close a $207m series C round while Qualcomm-backed audio equipment brand BoAt is targeting $246m in its flotation.