The China-based group buying service is set to float at the top of its range today, with Tencent remaining its largest investor.

Jibo, the social robot developer backed by Samsung, Acer, Ningbo GQY, Denstu, NetPosa, KDDI and LG Uplus, is seeking an acquisition deal.

Austria-based semiconductor manufacturer AMS has agreed to buy Swisscom Ventures-backed facial recognition software provider KeyLemon for an undisclosed amount. KeyLemon’s authentication technology for voice recognition of Swiss-German dialects was integrated in the Swisscom TV 2.0 UHD set-top box after its Swisscom Ventures and Debiopharm-backed A round in 2013.

Tencent could buy $250m of shares in the offering for portfolio company Pinduoduo, which will spend the proceeds on growth and R&D.

Swisscom had been a customer of Exoscale and Stefan Kuentz, investment director at Swisscom Ventures, said: "To support the company's international expansion journey, we are glad to have found A1 Digital as the new majority owner and partner that has the reach to unlock multiple new markets"

Ookami, the Japan-based owner of social sports news and entertainment app Player, has raised an undisclosed amount of series B funding from NTT Docomo Ventures, Mizuho Capital, Asahi Medialab Ventures and Asics Ventures, subsidiaries of mobile network operator NTT Docomo, financial services firm Mizuho Bank, media company Asahi Shimbu and apparel producer Asics, The Bridge […]

Efficient Drivetrains, which had amassed $17.5m in capital, makes drivetrain systems for electric and hybrid-powered automotive vehicles based on research from UC Davis.

Avexis, which is commercialising research from Ohio State University and Nationwide Children's Hospital, has been acquired by Novartis for $8.7bn.

Best Buy-backed biometric sensor developer Valencell has secured a series E round led by Sonion, while existing shareholders such as Gii returned.

New spinout RFC Power believes it has found a more cost-effective solution for large-capacity flow batteries used for power grid balancing and standalone plants.

The ride hailing firm has launched Grab Ventures, which is set to make eight to 10 investments over the next two years, and established an accelerator called Velocity.

Cross-border e-commerce platform Xiaohongshu has raised funding in an Alibaba-led round that included Tencent, valuing it at more than $3bn.

Walmart invested in the e-commerce platform at a $20.8bn valuation, allowing SoftBank, Naspers and eBay to achieve billion-dollar returns.

The Tokyo Electric and Chubu Electric-backed renewable energy provider is targeting an initial $386m, though share sales could take the offering to $1bn.

Sector focus: Consumer

Livongo has paid an undisclosed amount to acquire Cambia Health Solutions-backed weight and health management platform Retrofit.

Tencent has reportedly led a $3bn funding round for e-commerce company Pinduoduo at a $15bn valuation, having previously backed a $110m round in 2016.

The communal living space provider, which counts Lowe's Ventures and Comcast Catalyst Fund among its early investors, has raised series A capital from backers including Raiffeisen.

James Mawson identifies issues raised at the World Incubation Summit and calls for input ahead of GUV's updated review of university venture funds to be published at GUV:Fusion in London in May.

Sector focus: Services