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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.

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.

Baidu and Tencent are among the investors that will score an exit if the online auto aftersales platform goes public in a Hong Kong offering.

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

SoftBank's Vision Funds took part in a $260m series F round for online finance provider Creditas and led last-mile delivery service Paack's $225m series D.

Baidu and Geely injected the cash in their electric vehicle joint venture and the proceeds will be used for R&D and mass production of the cars.

Anhui Jiangnan Construction Investment Group helped commercial rocket developer Galactic Energy secure $200m while off-road vehicle developer Rox raised $100m in a Tencent-led round.

Boeing’s investment in the automated flying taxi developer follows a series of reverse takeovers in the sector in 2021.

As the pandemic continues to drive funding for supply chain companies, logistics robotics company Exotec raised a multimillion-dollar round at unicorn valuation.

SoftBank Vision Fund 2 helped revenue growth technology provider 6sense close a $200m series E round at a $5.2bn valuation, cash used to acquire Gree-backed sales software developer Saleswhale.