It’s notable to see five large deals involving Tencent in the week after its financial results showed the power of its investment holding company model for growth. Ke.com, a real estate services marketplace spun off from Lianjia, is in the process of raising $800m in a series D round led that is being led by Tencent.… Continue reading Editorial: Tencent’s big week after its annual results
Month: March 2019
Corporate venturing deal net: 25-29 March 2019
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Hyalex extricates $33m in series A
DSM Venturing helped extend the cartilage replacement technology startup’s series A round, augmenting a $16m first close featuring Johnson & Johnson.
Big Deal: Lyft raises $2.34bn in upscaled IPO
The Alphabet, Rakuten, Alibaba, Didi Chuxing, GM, Jaguar Land Rover, Magna and Icahn Enterprises-backed ride hailing service floated at the top of its range at a reported $24.3bn valuation.
Dingdang discloses $89m in series B funding
Dingdang Medicine Express has secured further funding from repeat backer SoftBank China Venture Capital, while a healthcare fund backed by Sinopharm also took part in the round.
Leap to reach for $372m in new round
The electric car developer plans to follow a $288m Shanghai Electric and CRRC-backed round in November with more than $370m in new funding.
Volta charges up $180m fund with corporate help
Equinox, Exelon, Albemarle and Hanon Systems have helped establish a battery technology fund called Volta Energy Technologies which is supported by a research agreement with Argonne National Laboratory.
Mobvoi looks to mobilise $100m in funding
Voice interface technology developer Mobvoi, backed by Alphabet and Volkswagen, is looking to raise $100m at a $1bn valuation before seeking an initial public offering in Shanghai.
Yipinshengxian consumes $298m in Tencent-led round
The fresh food retail chain plans to use the proceeds from the Tencent-led series B round, which included Meituan Dianping’s Longzhu Capital unit, to expand to 1,000 stores this year.
Baiwang invoices corporates for series A funding
Alibaba and Tencent have reportedly supplied $77m in funding for Baiwang, though the electronic billing software producer has disputed the size of the round.
Lola books in $37m for series C round
GV joined a batch of Lola’s existing investors, increasing the personalised travel booking service’s overall funding to more than $80m.
MiningLamp lights way to $297m series D
Tencent has returned to lead a $297m series D round for big data technology producer MiningLamp, having co-led its $159m series C a year ago.
Kyriba to score $160m in acquisition deal
Bridgepoint could take a majority stake in Kyriba in a deal that would allow HSBC, Mitsubishi UFJ Financial Group, Bred Banque Populaire, Mizuho Bank and American Express to exit.
Casper cashes in with $100m of funding
The mattress provider, which is reportedly preparing to go public, has secured $100m in funding from investors including existing backer Target.