Nykaa, an India-based online cosmetics and wellness product retailer backed by conglomerates Max Group and TVS, has received an additional $9m in funding from Steadview Capital, a month after the alternative asset manager had committed $13.3m. The additional funding came as Nykaa resumed partial operations, focusing on personal care and hygiene products such as masks and hand sanitisers for the time being.
Bloomberg Beta, the early-stage investment arm of publisher Bloomberg, has contributed to pre-seed and seed rounds for US-based construction technology developer Quartz Systems. The total came to approximately $7.8m, though Quartz did not specify individual amounts. The funding was led by Baseline Ventures, while Felicis Ventures and Lemnos also participated.
RevComm, the Japan-based developer of an artificial intelligence-powered voice and cloud communication tool called Miitel, has completed the first close of its series A round at ¥800m ($7.5m), which was led by venture capital firm World Innovation Lab (WIL) through its WIL Fund II. Employment service providers En-Japan and Persol Holdings also invested, the latter through its corporate VC vehicle, Persol Innovation Fund. They were joined by web conference service V Cube. The company was selected for internet and technology conglomerate Alphabet’s Google for Startups Accelerator’s first Japan-based program in February 2020.
Australia-based agtech developer The Yield Technology Solutions has obtained A$11m ($7.1m) in funding round led by Yamaha Motor Ventures and Laboratory Silicon Valley, the strategic investment arm of carmaker Yamaha Motor, with participation from engineering company Bosch.
Canada-based character simulation software developer Ziva Dynamics has closed a $7m seed round co-led by Toyota AI Ventures, a corporate venture capital unit for the vehicle manufacturer, Grishin Robotics and Millennium Technology Value Partners’ New Horizons Fund. Ziva Dynamics was co-founded in 2015 by Jernej Barbic, an associate professor of computer science at University of Southern California, and Academy Award-winning special effects engineer James Jacobs.
Singapore-based retailer Iuiga Technologies has received $7m in a series A round led by a technology arm of diversified conglomerate Konimex, according to DealStreetAsia. The money will enable Iuiga to bolster its operations in Singapore and Indonesia as it aims to double its operations. Iugida operates both brick-and-mortar stores and e-commerce portal, and said it was particularly keen on growing in Indonesia.
Cover, a Japan-based management agency for YouTube celebrities, has collected ¥700m ($6.6m) in funding from Hakuhodo DY Ventures, Strive and SMBC Venture Capital – respective vehicles for marketing firm Hakuhodo DY, internet company Gree and financial services firm Sumitomo Mitsui Banking Corporation – as well as i-Nest Capital, Chiba Dojo, Dimension and assorted angel investors, according to The Bridge. The round included an unspecified amount of debt financing from Mizuho Bank. Cover previously raised $217,600 in seed funding from TLM, Mizuho Bank and assorted angel investors in 2017, before adding $1.8m in series A capital in 2018 from Strive (then known as Gree Ventures), animation studio Oriental Light and Magic’s corporate venturing division OLM Ventures and Mizuho Bank’s investment unit Mizuho Capital.
Tiem Factory, a Japan-based producer of a lightweight aerogel insulator called Sufa, has secured ¥670m ($6.3m) from insurer Sompo Japan Nipponkoa, aluminium building material manufacturer YKK AP and financial services firm Mitsubishi UFJ Financial Group’s Mitsubishi UFJ Capital unit. The round also included Kyoto University’s Innovation Capital arm and Mebuki Regional Revitalisation Fund, which is co-run by financial services holding company Mebuki Financial Group’s Joyo Bank and Ashikaga Bank subsidiaries. Public-private partnership Innovation Network Corporation of Japan-sponsored Universal Materials Incubator and VC firm Future Venture Capital filled out the round.
UK-based data-driven underwriting and risk analytics service Envelop Risk received approximately $6m in a series A round yesterday led by Alpha Intelligence Capital, with commitments from insurer MS Amlin and Dymon Asia Ventures. The money will allow Envelop Risk to further invest in its machine learning and data-driven underwriting activities in London and Bermuda, as well as support an expansion into additional markets.
Singapore-based credit management platform Flow has raised $6m in funding from SIG Asia, a unit of quantitative trading firm Susquehanna International Group, and SCB10X, the venture capital arm of financial services firm Siam Commercial Bank, according to E27. The round was led by DEG, a subsidiary of German development bank KfW, and also included Dymon Asia Ventures. Flow rebranded from its previous name AsiaCollect as part of the round, which followed a $4.5m round led by SIG Asia in 2018.
China-based biodegradable materials developer Ecoinno has secured $6m in a series A1 round backed by Alibaba Hong Kong Entrepreneurs Fund and Alibaba Taiwan Entrepreneurs Fund II, investment vehicles for e-commerce group Alibaba, according to DealStreetAsia. Ecoinno produces a biodegradable alternative to single-use plastics that consists entirely of natural plant fibres. The company does not appear to have disclosed details about earlier funding.
Real estate technology producer GA Technologies has led a $5.3m series A round through its GA Fund III for US-based remote worker-focused co-living service Anyplace, The Bridge has reported. Other investors in the round included internet company CyberAgent’s Fujita Fund, mobile game publisher Akatsuki’s Heart Driven Fund and Mitsui Sumitomo Insurance Venture Capital, the investment division of insurance firm Mitsui Sumitomo. The corporates were joined by VC firms Digital Base Capital and East Ventures, and individuals Jason Calacanis, Keisuke Honda and Tommy Tomishima. The company previously obtained $2.5m in a seed round in June 2019 from FundersClub, UpHonest Capital, East Ventures and Global Brain, in addition to angel investors Jason Calacanis, Keisuke Honda, Kenji Kasahara and Bora Uygun.
Tutorial, the Japan-based provider of a cloud-hosted robotic process automation system dubbed Robotic Crowd, has raised ¥552m ($5.2m) in a series A round backed by Archetype Ventures and Salesforce Ventures, the investment vehicles for marketing firm Archetype and enterprise software producer Salesforce, as well as venture capital firm DNX Ventures. The company had received $446,000 from recruitment firm DIP Corporation in September 2018, which represented its seed round according to The Bridge, and was secured as part of DIP’s AI Accelerator scheme.
Israel-based cryptographic software and hardware developer Hub Security has raised $5m in series A capital led by Axa Ventures, the corporate venturing arm of insurance provider Axa, according to TechCrunch. Equity crowdfunding platform OurCrowd also took part in the round, which will go towards an expansion of Hub Security’s headcount and technology offerings.
Swiss Post Ventures and G+J Digital Ventures, respective corporate venturing subsidiaries for mail and logistics company Swiss Post and publisher Gruner + Jahr, have participated in a CHF4m ($4.1m) series B round for Switzerland-based shopping app developer Bring Labs. Existing investors Swisscom Ventures, the corporate venture capital arm of telecommunications firm Swisscom, Swiss Founders Fund and angel consortium Investiere returned for the round, which was also backed by private investor Dominique Locher. Bring Labs collected $2.4m in a series A round in 2018 backed by Swisscom Ventures, Swiss Founders Fund and Investiere. A host of private investors and Investiere had earlier provided $1.3m in funding in 2016.
Thailand-based payment processing platform Digio has picked up $4m in a series B round backed by interbank payment services provider PCC, Beacon Venture Capital and Private Equity Trust for SME Growing Together 2, according to E27. InVent, the corporate venturing arm telecommunications firm Intouch Holdings previously supplied an undisclosed amount of series A funding in 2017.
Spain-based product information management company Sales Layer has picked €3.5m ($3.8m) in a series A round led by Sonae IM, the investment arm of conglomerate Sonae, with contributions from Go Hub, the corporate venturing division of water utility Global Omnium, and Swanlaab Venture Factory. Swanlaab previously led a $1.4m round in 2017, with participation from Global Omnium, after Plug and Play Spain had supplied $170,000 in seed funding in 2014.
Location Mind, a Japan-based artificial intelligence-equipped geolocation technology developer spun out of University of Tokyo, has raised a ¥400m ($3.7m) angel round from Mitsubishi Research Institute (MRI), the consulting subsidiary of conglomerate Mitsubishi Group, building materials supplier Yoshimei and real estate developer Marimo Holdings as well as undisclosed individual investors. It is additionally considering collaboration with MRI.
Kompeito, a Japan-headquartered operator of office vegetable-based food delivery service Office de Yasai, has raised ¥400m ($3.7m) from insurance provider Nippon Life’s Nissay Capital unit, as well as financial services firms Hiroshima Bank and Shizuoka Bank’ Hiroshima Venture Capital and Shizuoka Capital vehicles. State-owned Japan Finance Corporation and VC firm iSGS Investment Works filled out the investors. The company had secured $1.4m from Nissay Capital, shipbuilding and shipping group Tsuneishi’s Tsuneishi Capital Partners unit, VC fund NOS Ventures and individuals including Kiyohiro Sugashita and Masaru Tange in 2017. Agricultural cooperative federation JA Zen-Noh provided an undisclosed amount for the company in 2016 after mayonnaise producer Kewpie Corporation had injected $425,000 in 2014.
India-based furniture rental service Rentomojo has raised Rs245m ($3.2m) in series C funding from Chiratae Ventures, Accel Partners, BCIP Venture Associates, Bain Capital and angel investor Renaud Laplanche, according to Inc42. Rentomojo previously collected $3.9m in series C capital from consumer electronics provider Samsung, through its Samsung Venture Investments Corporation subsidiary, and Mitsui Sumitomo Insurance Venture Capital, a subsidiary of insurer Mitsui Sumitomo, in August 2019. by GMO Venture Partners – part of internet company GMO – as well as existing backers Accel, Chiratae Ventures and Bain Capital Ventures had injected approximately $11.1m into the round in May last year.
US-based enterprise knowledge graph platform Stardog has received $3m in a series B extension featuring Presidio Ventures, the corporate venture capital arm of diversified conglomerate Sumitomo. The round, which now stands at $11.4m, also included Contour Venture Partners and Dcode Capital. Stardog secured an initial $9m tranche in October 2019 led by venture capital firm Tenfore, with contributions from Grotech Ventures, Boulder Ventures and Core Capital. It had previously collected $9m in series A funding over two tranches in 2017 and 2018 from Tenfore, Grotech, Boulder and Core.
Vietnam-based automated recruitment platform JobHopin has closed a $2.5m series A round, according to TechCrunch, bringing the company’s total funding to $3m from investors including executive search firm Mynavi, according to TechCrunch. The company’s backers also include consultancy NKC Asia, Sema Translink, KK Fund, Edulab Capital Partners and Canaan Capital. JobHopin has not further clarified which investors participated in the series A round or when it secured its earlier funding.
Japan-based medical question-and-answer platform operator Antaa has raised ¥230m ($2.1m) from investors including Nissay Capital, Mitsui Sumitomo Insurance Capital and SMBC Venture Capital – on behalf of insurers Nippon Life and Mitsui Sumitomo, as well as financial services firm Sumitomo Mitsui Banking Corporation. Startup studio XTech Ventures and assorted private investors filled out the round, which took the company’s overall funding to $2.8m.
Entropica Labs, a Singapore-based quantum computing software architecture developer based on National University of Singapore (NUS) technology, has secured $1.8m of seed funding led by deep tech-focused venture firm Elev8, DealStreetAsia reported yesterday. Government-owned investment firm SGInnovate participated alongside IT network services provider TIS, family office Lim Teck Lee Group, V1 Capital and Entrepreneur First. The fresh capital will go to building Entropica’s technical team and refining its quantum software framework with the aim of making the technology accessible for applications such as optimisation problems and statistical learning. Tommaso Demarie and Ewan Munro, both alumni of NUS’s Centre for Quantum Technologies, were among Entropica’s founding team, which joined Entrepreneur First’s accelerator in mid-2018.
Digital Alloys, a US-based hard metal parts printing technology spun out of additive manufacturing business NVBots, itself a spinout of Massachusetts of Institute of Technology, has raised $1.1m of a targeted $1.2m series B round, according to a regulatory filing. Founded in 2017, Digital Alloys supplies a 3D printing system called Joule Printing for manufacturing hard metal parts. The technology is a closed-loop control system, meaning it automatically regulates certain processes, and is billed as low-cost and swift to complete. Welding product maker Lincoln Electric and Boeing HorizonX Ventures, the corporate venturing unit for aerospace firm Boeing, both backed Digital Alloys’ earlier $12.9m series B round in mid-2018 that was led by G20 Ventures with further funding from venture firm Khosla Ventures, after Khosla had led a $5m series A the previous year backed by unnamed investors.
Hospital Compliance Management Japan (HCMJ), the Japan-based operator of smart hospital visitor check-in system Monitaro, has received ¥120m ($1.1m) in a round led by VC firm Scrum Ventures that featured Capital Medica Ventures, the corporate venturing subsidiary of care provider Capital Medica. The company had participated in the second cohort of education services provider Globis’s G-Startup accelerator in February 2020.
Any, the Japan-based developer of software-as-a-service tool Qast, has closed a pre-series A round at ¥80m ($746,000) featuring cybersecurity technology provider Hennge. It had raised the initial $603,000 tranche last month from VC firms Global Brain and Gazelle Capital.
Spyne, an India-based artificial intelligence-powered image editing software developer, has attracted $593,000 in pre-series A funding led by angel investor platform AngelList with participation of internet group Smile and assorted private investors, according to Inc42. Smile previously led a seed round of undisclosed size in August 2019, with contributions from unnamed private investors.
Japan-based pet food supplier Honest Food has raised ¥60m ($559,000) in funding from startup studio XTech Ventures and seed-stage venture fund Basepartners. The company previously collected $237,000 from digital marketing firms Thinqlo and Engagement Commerce Lab (also known as Kokyaku-Jikan), and angel investors including Kōhei Matsumoto in August 2019.
Acute Medical Innovation (AMI), a Japan-based stethoscope developer that is currently carrying out Covid-19 remote auscultation project, has raised additional funds of ¥30m ($280,000) from financial services firm Higo Bank’s Higin Capital unit and Dogan Beta, the VC subsidiary of investment and consulting services firm Dogan, taking the current round to $4.8m. The money will be used to train artificial intelligence engineers in the Kyushu region of Japan, where the company is located. The initial $4.5m tranche took place last month and featured robotics technology producer Cyberdyne and its VC subsidiary, CEJ Capital, as well as RealTech Fund, which is sponsored by corporates Euglena, Leave a Nest and SMBC. Higin Capital and RealTech Fund had already backed AMI’s August 2018 round of undisclosed size.
Japan-based modern art marketplace Tricera has raised a pre-series A round of undisclosed size from DK Gate, a joint venture backed by Digital Garage and publisher Kodansha, as well as Fuji Startup Ventures, a corporate venturing vehicle for media company Fuji TV, Globe Advisors, on behalf of nonprofit Globe Group, and assorted individual investors. The round took Tricera’s overall funding to ¥145m ($1.4m at current exchange rates). It had secured a $371,000 seed round from Monex Ventures, the corporate venturing arm of financial exchange operator Monex, and angel investor Ryōsuke Matsumoto in September 2019.
Spiber, a Japan-based synthetic silk products developer spun out of Keio University, has secured an undisclosed amount from textile trader Toyoshima & Co as part of a joint research agreement on spun yarn and textile development. Spiber previously revealed more than $260m in total funding, including $44m in a round led by public-private partnership Cool Japan Fund in 2018. Its earlier investors include Keio University, insurance provider Dai-ichi Life, sportswear manufacturer Goldwin and venture firm Jafco Ventures.
Seibu Shinkin Capital, an investment vehicle for financial services firm Seibu Shinkin, has injected additional funding of undisclosed amount in KYC Consulting, a Japan-based legal technology developer. The company had received an earlier tranche in March 2020 from Monex Ventures, the corporate venturing arm of financial exchange operator Monex, and angel investor network Angel Bridge. Angel Bridge had already established a financial partnership with KYCC in July 2018, which improved KYCC’s Risk Analyze, a platform that helps accelerate and streamline the due diligence process.
Healthcare New Frontier Fund, formed by care provider Capital Medica’s Capital Medica Ventures unit, has invested an undisclosed amount of seed funding in Knock on the Door, the Japan-based operator of epilepsy patient support platform called Nanacara. The funding will be used to drive growth.
Japan-based smart padlock service provider Keyes has raised an undisclosed amount of funding from natural gas producer Saibu Gas’s SG Incubate. The round came after internet company Digital Garage’s DG Ventures unit and internet-of-things incubator AbbaLab Startup Fund provided an undisclosed sum in December 2019. The company conducted a six-week-long verification process with Seibu Gas early this year to test the smart padlock service at the latter’s facilities.
Sora, a Japan-based pricing data technology developer that runs pricing comparison tool MagicPrice, has secured funding of undisclosed size from Kintetsu Venture Partners, a venture capital subsidiary of rail operator Kintetsu Group. The deal entails a business collaboration with Kintetsu group companies, with Sora providing access to its technology. Sora previously raised an undisclosed sum from Globis Capital Partners, the corporate venturing arm of education services provider Globis, in September 2019, which took its total funding at the time to ¥300m ($2.8m). UB Ventures, the corporate venturing arm of business intelligence provider Uzabase, supplied an undisclosed amount of series A funding for the company in May 2019. Sora had raised $1.5m from investors including financial services firm Fukuoka Bank’s FFG Venture Business Partners unit for the initial series A tranche in 2018.
Indonesia-based end-to-end home retail and services provider Dekoruma has attracted an undisclosed amount of pre-series C capital from OCBC NISP Ventura, the venture capital arm of financial services firm Bank OCBC NISP, as well as InterVest Star SEA Growth Fund, Foundamental and unnamed existing backers, according to DealStreetAsia. AddVentures, the corporate venturing arm of building materials producer Siam Cement Group, previously contributed to a multi-million dollar series B round of undisclosed size that was led by e-commerce firm Global Digital Niaga in 2018. Skystar Capital, Beenext and Convergence also took part in the series B round.
Singapore-based insurance technology developer CXA Group has received an undisclosed sum from human resources firm Humanica and HSBC Life, a life insurance subsidiary of financial services firm HSBC, DealStreetAsia reported on Wednesday. Humanica made its investment as part of a strategic partnership to integrate each other’s platforms in Thailand, marking CXA’s expansion into the country. Humanica was also among the backers of a $25m round for CXA in May 2019, that additionally featured corporates Singapore Telecommunications, Telkom Indonesia, Sumitomo, Muang Thai Life Assurance, HSBC and IMC.
Transect, a US-based software-as-a-service platform for industries such as energy to identify and plan for environmental risk, has secured an undisclosed amount of funding led by Blue Bear Capital, with participation from existing investors Holt Ventures, the corporate venturing arm of industrial equipment manufacturer Holt Cat, and private investor Gary Horn. Although Holt Ventures was identified as a returning shareholder, details about its earlier involvement could not be ascertained.
Charmeuse Technologies, the India-based operator of a technology platform for textile compannies called Vastra App, has received an undisclosed amount of angel funding from apparel company Blackberry and led by a group of investors affiliated with angel consortium LetsVenture, according to TechCircle. The money will drive customer acquisition as well as product development as the company aims to grow to 5,000 clients.
Vietnam-based multi-channel sales and management platform Sapo Technology has picked up a seven-digit series A round led by Smilegate Investment, with participation from Teko Ventures, the venture capital arm of financial, online travel, retail and mobility group VNLife, according to DealStreetAsia. Sapo previously received an undisclosed amount of funding from CyberAgent Capital, the investment unit of internet company CyberAgent, in 2014, before securing an undisclosed amount from Teko Ventures in 2018.
Lily MedTech, a Japan-based startup spun out of Tokyo University that develops a breast cancer testing device, has raised an undisclosed amount of series C round from pharmaceuticals distributor Alfresa Corporation, which followed its ¥930m ($8.6m) series B round in September 2019 also backed by Alfresa, along with Aflac Ventures, the investment arm of medical insurance provider Aflac, and Mitsubishi Research Institute, a think tank formed by diversified conglomerate Mitsubishi Group. Lily MedTech obtained $3.3m in a series A round in 2018 from healthcare provider Capital Medica’s corporate venturing unit Capital Medica Ventures, leasing services provider Fuyo General Leasing and financial services firm Mitsubishi UFJ Financial’s investment arm Mitsubishi UFJ Capital as well as Beyond Next Ventures and Japan Research and Development Agency.
– Additional reporting by Liwen-Edison Fu and Callum Cyrus
