Sectors

The number of crypto and token funding rounds is still climbing but the overall volume of capital in these deals has fallen sharply.

Allianz X helped digital insurance provider Coalition raise $250m while protein synthesis technology developer Nuclera hiked an E Ink-backed series B round to $58m.

The oil industry services company promoted Gawade to executive director.

Repsol and the ESG investor will look for other investors to help back the “double transition” with the new fund as the oil major also rebrands its other investment vehicle.

Corporates are still investing in startups but valuations have fallen dramatically. Some areas such as China and healthcare have been hit hard.

Stellar Solutions venture associate Noah Feingold will reprise a similar role at the newly formed venture firm.

Rajeev Misra will step back from his role at the Japanese investment company, following a spate of recent departures.

Volkswagen and Ingka Group helped Northvolt secure over $1bn while Dai-ichi Life has led a $120m series C for YuLife.

Q&A with Peter Ortez, senior associate, Munich Re Ventures

KT and Kakao Ventures were part of AI chip developer Rebellions’ $72.8m series A round while Nvent helped provide $35.8m for cooling system provider Iceotope.

Cambridge Enterprise has put cash into CardiaTec Biosciences in a pre-seed round that marks the inaugural deal for Laidlaw Scholars Ventures.