Mayor Michael Nutter announced the five startups in Philadelphia that will each receive a $25,000 grant from the Commerce Department's Startup PHL Call for Ideas to promote entrepreneurship in the city.

Citing sources, The Wall Street Journal reported that Singapore state investment firm Temasek Holdings was in advanced discussions for a "strategic" stake acquisition of Li ka-shing's health and beauty retailer Watson.

Brisbane, Australia-based diversified alternative asset manager Blue Sky Alternative Investments entered a deal to purchase Adelaide-based hedge fund Investment Science Asset Management for an undisclosed amount.

A survey done by AsiaHedge showed that Asian hedge funds were able to add assets of nearly $20 billion in 2013, representing a strong performance after three years, Reuters reported.

CitiusTech, a healthcare IT firm, was able to get an undisclosed substantial investment amount from growth equity firm General Atlantic, a statement about the funding said.

Cary, North Carolina-based cognitive systems firm Saffron Technology was able to bag $7 million for its Series B round from unnamed investors, a statement about the funding said.

Faraday secured $880,000 for its Series A funding round led by FreshTracks Capital and joined in by other investors, a statement about the funding said.

Coupa Software, a cloud-based finance solutions provider, bagged $40 million for its Series F funding round led by Meritech Capital, a statement about the funding said.

Nokia Growth Partners led the Series B round for China-based online food service platform Meican.com which raked in $10 million, a statement about the funding said.

What3words, the startup that seeks to provide three-word strings to map a location, has added $1 million to its seed financing round participated in by undisclosed investors, TechCrunch reported.