Pharmaceutical company Daiichi Sankyo made a $10m pledge yesterday to Hatch Biofund 1, a US-based venture capital fund formed by non-profit medical research organisation Baruch S. Blumberg Institute. Hatch Biofund has a $50m target for its close, and Daiichi Sankyo’s commitment was made in connection with a collaboration agreement with life sciences incubator Pennsylvania Biotechnology Center.
Japan-headquartered crowdfunding platform operator ReadyFor secured ¥1bn ($9.1m) in series B funding on Monday from investors including Globis Capital Partners, Salesforce Ventures, Mitsubishi UFJ Innovation Partners, Nanto Capital Partners and Aozora Corporate Investment, vehicles for education services provider Globis, enterprise software producer Salesforce and financial services firms Mitsubishi UFJ Financial Group, Nanto Bank and Aozora Bank respectively. The round also featured Venture Labo Investment and JIC Venture Growth Investments, and it came after ReadyFor raised $3.8m in early 2019.
Growth equity firm Tybourne Capital Management provided an undisclosed amount of series D funding on Monday for Paidy, a Japan-based consumer finance provider backed by trading firm Itochu and payment services providers Visa and PayPal. Paidy had raised a total of $281m in debt and equity financing as of April 2020, when it closed a $191m series C round featuring Visa, Itochu, PayPal subsidiary PayPal Ventures, Tybourne, Goldman Sachs, Soros Capital Management and JS Capital Management.
SuperRare, the US-based operator of a digital art marketplace focusing on non-fungible tokens, raised $9m on Tuesday in a series A round featuring art advertising agency AndArt Agency and electronics producer Samsung, which invested through Samsung Next. The round was co-led by Velvet Sea Ventures and 1confirmation and included Version1, Collaborative Fund, Shrug Capital, Third Kind, The LAO and various angel investors.
Dash Living, a Singapore-based provider of serviced apartments, has received more than $8.8m in series A funding from investors including real estate developer Grosvenor Asia Pacific, e27 reported on Monday. The round included Gobi Partners, Taronga Ventures, Clearmind Capital, Mindworks Ventures and unnamed angel investors. It came in the wake of a $10m pre-series A round in October 2019 that was led by Mindworks and backed by Clearmind Capital.
DJO, a medical technology subsidiary of industrial equipment maker Colfax Corporation, invested an undisclosed amount in US-based surgical navigation technology developer Insight Medical Systems on Tuesday as part of a funding round indicated by a securities filing to be $8m in size. It had previously secured $260,000 in debt financing in 2017 according to a regulatory filing.
Digital financial services startup SadaPay has secured $7.2m from investors including financial services provider Raptor Group in a seed round that is the largest ever raised by a Pakistan-based company, Menabytes reported yesterday. Kingsway Capital led the round, which also featured angel investors including Pierpaolo Barbieri, Brian McGrath, Ilan Stern and Andrew Wan.
Now Money, a United Arab Emirates-based financial services provider focusing on migrant workers, raised $7m from investors including financial services firm Commercial Bank of Dubai on Monday, according to Wamda, another participant in the round. It was led by Anthemis Exponential Ventures and also featured Knuru Capital, DIFC FinTech Fund, Accion Venture Lab, Greenhouse Capital and Hambro Perks Oryx Fund. The company had secured an undisclosed amount of seed capital in 2016 and almost $1.5m from Accion Venture Lab, Newid Capital, Myrisoph Capital, Wain and unnamed angel investors in 2017.
Nested, a UK-based developer of technology for estate agents, has received £5m ($6.9m) from media group Axel Springer, Balderton Capital and Northzone, TechCrunch reported yesterday. Formerly known as Nextday, the company raised $1.6m in seed funding from Passion Capital, Global Founders Capital (GFC), Alex Samwer and Paul Forster in 2016, $9.9m in a March 2017 series A featuring Passion Capital and GFC, $47.5m in a GFC-led round seven months later, and $25.9m in equity funding from Balderton and Northzone alongside $129m in debt financing, in 2018.
PureStake, the US-headquartered creator of smart contract platform Moonbeam, closed a $6m funding round on Tuesday featuring Binance Labs and Coinbase Ventures, on behalf of cryptocurrency exchanges Binance and Coinbase respectively. CoinFund led the round, which included ParaFi, Fenbushi Capital, IOSG Ventures and unnamed participants in PureStake’s September 2020 seed round, when it raised $1.4m from crypto exchange operator Bitcoin.com, Hypersphere Ventures, Arrington XRP Capital, HashKey, KR1 and Du Capital.
Japan-based online mortgage provider Mortgage Financial Solutions secured ¥650m ($5.9m) from unnamed private investors yesterday to take its total funding to about $22m. The latest capital will be added to the $6m it raised for its latest round last month, from Itochu Technology Ventures, Deepcore, Shinsei Corporate Investment and Chugin Lease, on behalf of trading group Itochu, telecommunications and internet group SoftBank and financial services firms Shinsei Bank and Chugoku Bank, in addition to Nippon Venture Capital and debt financing from Sumitomo Mitsui Banking Corporation.
US-based decentralised data software developer Cere Network has raised $5m from investors including crypto exchange operators ZB and Gate.io as well as Republic Labs, Woodstock Fund, JRR Capital, Ledger Prime and G1 Ventures, VentureBeat reported on Monday. The company has now secured $10m in total, including $300,000 from investors including Binance Labs and Neo Global Capital – on behalf of cryptocurrency exchange Binance and decentralised app platform developer Neo – and Arrington XRP Capital in June 2019, and $3.5m from Binance Labs, Fenbushi Capital, Neo Global Capital, Arrington XRP, Kenetic Capital, Alphabit Fund, Block VC, Kosmos Capital, LD Capital, Monday Capital, Pre Angel Fund and Republic Labs two months later.
Ehime Venture Fund 2013 and Ehime Regional Revitalisation Investment Limited Partnership supplied an undisclosed amount for Japan-based cancer testing services provider Hirotsu Bioscience on Monday on behalf of financial services firm Ehime Bank. Hirotsu received an undisclosed sum from financial services firm Shinkin Bank’s Shinkin Capital unit in 2017 and added $12.7m from printing services firm Toppan’s Toppan Forms subsidiary, scientific equipment producer As One, conglomerate Avex, broadcaster Nippon Broadcasting System, automotive services group Ichinen Holdings, medical laboratory services provider HU Group Holdings, financial services firm Iyo Bank’s Iyo Venture Fund V and Ehime Venture Fund in 2018.
Nissay Capital, the corporate venturing arm of insurance firm Nippon Life, invested ¥530m ($4.8m) in Global Trust Networks (GTN), the Japan-based operator of a software platform that helps foreigners in the country with their day-to-day life, on Tuesday. GTN had raised $5.5m from four investors including retailer Marui Group and Shinsei Capital, the VC subsidiary of financial services firm Shinsei Bank, in 2018.
Nimbly, the Indonesia-based developer of a business management software platform for small businesses like restaurants, has secured $4.6m in a pre-series A round that included Saison Capital, the VC arm of payment services firm Credit Saison, TechCrunch reported on Tuesday. Insignia Ventures Partners led the round, which also featured Sovereign’s Capital and which took the company’s total funding to $5.7m, according to TechCrunch.
US-based fraud prevention software developer Sardine has emerged from stealth having completed a $4.6m seed round featuring Coinbase Ventures, the strategic investment arm of digital currency exchange operator Coinbase. The round was led by VC firm XYZ Ventures and was also backed by 211.2 Capital, Village Global and more than 25 angel investors including Adam Nash, John Lilly, Dan Romero and Linda Xie.
Japan-based education services provider NowDo received ¥480m ($4.3m) in seed capital from investors including mobile game publisher Akatsuki yesterday. The round also featured equity crowdfunding platform Makuake and 16 individuals, and it came in the wake of $450,000 from 15 angel investors in November 2019.
Tugende, a Uganda-based microfinance provider backed by carmaker Toyota, raised $3.6m in a series A extension round led by Partech that included Enza Capital and undisclosed angel investors, TechCrunch reported yesterday. Toyota’s trading arm, Toyota Tsusho, led the $6.3m first close in October 2020 through its Mobility 54 fund, investing with Global Partnerships’ Social Venture Fund, unnamed individuals and existing backers including Denali Venture Philanthropy and Segal Family Foundation. Tugende had raised $13m from unnamed investors in November 2019.
VC firm DNX Ventures led a ¥400m ($3.6m) series A round today for Enpay, a Japan-based financial digitalisation software provider backed by marketing group IID. The round included Chugin Infinity Fund, a vehicle for financial services firm Chugoku Bank, and it increased the company’s total funding to approximately $4.2m. IID invested an undisclosed amount in Enpay in November 2020, the month before it entered the PayPay Accelerator Program, formed by mobile payment technology provider PayPay, internet company Yahoo Japan’s YJ Capital unit and East Ventures.
Metcela, a Japan-based heart failure therapy developer spun out of Keio University, secured an undisclosed amount of series B funding yesterday from Eight Roads Ventures Japan and F-Prime Capital, both subsidiaries of investment and financial services group Fidelity. It had raised $20.9m as of January this year, when its series B round stood at $12.7m, the cash coming from pharmaceutical firm Alfresa, insurer Dai-ichi Life, electronics producer Sony’s Innovation Fund, cardiovascular equipment maker Japan Lifeline, University of Tokyo Edge Capital Partners, KSP, Makoto Capital, Tsukuba Exceed Fund, Joyo Bank and Joyo Industrial Research.
Japan-based ultra-large 3D printer developer ExtraBold closed a ¥360m ($3.3m) funding round today that included metal parts producer Kobayashi Industries and casting mould manufacturer Maeda Giken. The round was co-led by RealTech Fund and Mistletoe Japan, and also featured financial services firm Mizuho Bank’s Mizuho Capital unit and GlocaLink.
Tryeting, a Japan-based artificial intelligence technology developer spun out of Nagoya University, has received ¥350m ($3.2m) from investors including TFHD Open Innovation Program, a vehicle for rail operator Tokyu Group’s Tokyu Land Corporation subsidiary, in connection with a strategic partnership. The round also featured undisclosed angel investors and debt financing from Mitsubishi UFJ Bank. It followed $2.8m in series A funding from corporate backers Toyoda Gosei, Japan Material Technologies Corporation and Tokai Tokyo Investment in August 2019 and an undisclosed sum from Aigin Future Creation Fund two months later.
Legend Star, the early-stage investment arm of conglomerate Legend Holdings, has participated in a pre-series A round for China-headquartered non-dairy milk brand Oat Planet in the eight-figure yuan (RMB10m = $1.52m) range, 36Kr reported yesterday. Decent Capital and Zhonglin Capital also contributed to the round.
Docstation, the US-based creator of a software platform that allows pharmacists to access medical data enabling them to adjust prescriptions, has raised $3.1m in seed capital from investors including pharmacy buying group Omega Pharmacy Group as well as Wanxiang Healthcare and UnityPoint Health Ventures, on behalf of automotive components producer Wanxiang and healthcare provider UnityPoint Health respectively, MedCity News reported yesterday. 8VC led the round, which was also backed by Cartmell Ventures, Freesolo Ventures and Techstars.
Financial technology provider Stone has supplied an undisclosed amount of series B funding for Vhsys, a Brazil-based developer of digital business management software, Neofeed reported yesterday. The company intends to double headcount to 400 by the end of 2021, with a particular focus on its sales team.
Ensemble, the US-based developer of an expense tracking app for separated or divorced parents, emerged from stealth yesterday with $3m of seed funding from investors including Citi Ventures, the corporate venturing arm of financial services firm Citi. The corporate was joined by TTV Capital and Lerer Hippeau, and the capital will support the expansion of the app’s capabilities.
Conicle, the Thailand-based developer of a skills-building software platform, received $3m yesterday in a series A round that included human relations software provider Humanica and InVent, the corporate venturing arm of telecoms firm Intouch Holdings. The round also featured StormBreaker Ventures, 500TukTuks and Stundi, while Humanica invested through a strategic partnership agreement.
Automotive component manufacturer Toyoda Gosei provided an undisclosed amount of funding for Genial Light, a Japan-based developer of testing equipment for medical institutions, on Tuesday. Genial Light had received $2.2m from medical equipment group Mutou, alcoholic beverage provider Suntory, marketing and consulting firm JMA Research Institute and Resona Capital, a subsidiary of financial services firm Resona Bank, in April 2020.
Sagojo, the Japan-based operator of an online recruitment platform focused on international travellers, raised an undisclosed amount of pre-series A funding today from Mitsui Sumitomo Insurance Venture Capital, a subsidiary of insurer MS&AD, as well as property developer Nippon Steel Kowa Real Estate and unnamed angel investors. It had previously received an undisclosed sum from Avex Ventures, the investment arm of entertainment group Avex Group, and Apptli, the resort-focused staffing service now called Dive, in 2017.
US-based water filtration technology developer Glanris secured $2m in series A funding on Tuesday from agricultural marketing agency Riceland, Pittco Capital, Innova and Sage Business Advisors. The company had previously raised $1.8m from undisclosed investors in May 2020, according to a regulatory filing.
Oil and gas provider Eneos invested an undisclosed sum in Japan-based smart city technology developer Will Smart yesterday in connection with a strategic partnership agreement. Will Smart raised an undisclosed amount from energy utility Shikoku Electric Power, IT services firm Tsuzuki Denki, rail operator JR Kyushu, fenestration system provider YKK AP, trading firm Okaya & Co and general contractor Tobishima Corporation in 2018, and Tsuzuki Denki added an undisclosed sum in February 2019.
Pharmaceutical firm Rohto Pharmaceutical supplied an undisclosed amount yesterday for Bacchus Bioinnovation, a Japan-based, microorganism biotechnology developer spun out of Kobe University. Founded in March 2020, Bacchus aims to create a ‘bio-foundry’ which will develop innovative products from living organisms.
Tazapay, the Singapore-based developer of a cross-border payment platform for small businesses, has raised $1.75m from Saison Capital, the strategic investment arm of payment services firm Credit Saison, as well as Sequoia India’s Surge vehicle, RTP Global and January Capital, e27 reported on Tuesday. Saison Ventures had already co-led a $3.2m round for the company with Surge in December 2020.
Mitsubishi UFJ Research & Consulting, a think tank subsidiary of financial services firm Mitsubishi UFJ Financial Group, provided an undisclosed amount of funding for Japan-based administrative information and consulting service provider Asukoe Partners on Monday through a strategic partnership agreement. IT services provider Densan System had invested an undisclosed amount in Asukoe in July 2020.
Accounting software producer Money Forward supplied an undisclosed amount for M-Field, a Japan-based developer of digitalisation technology, yesterday. The company will put the funding towards promoting digital transformation at financial services institutions.
NextPay Holdings, a digital payment technology subsidiary of e-commerce technology provider NextTech Group, has invested seven-figure dollar amounts in three local companies, DealStreetAsia reported yesterday. The recipients were PosApp, a provider of sales inventory management software, day spa operator MySpa and digital invoice services provider Megabiz.
SoundRaw, the Japan-based creator of a smart video-editing tool, raised ¥100m ($900,000) in pre-series A funding from internet and telecoms group SoftBank’s Deepcore fund yesterday. Deepcore had previously joined KLab Venture Partners and individuals including Dai Sunagawa, Atsushi Fukuda, Shuhei Yamashita and Ichiomi Kinabae to provide $605,000 for the company in June 2020.
Careloop, the Germany-based developer of a digital recruitment platform for nurses, received an undisclosed amount from investors including media company Klambt on Tuesday. The round was led by seed-stage investment fund Swiss Founders Fund.
Investment adviser Winter Capital was among the investors in US-based online education marketplace Udemy’s $50m series F round in November 2020, it has revealed. The round valued Udemy at $3.25bn and it has now raised a total of $283m from investors including correspondence learning provider Benesse and Naspers Ventures, the subsidiary of media and e-commerce group Naspers since rolled into its internet group, Prosus.
Additional reporting by Liwen-Edison Fu.
