Funding
Telecommunications and internet group SoftBank’s Vision Fund 2 has provided an undisclosed amount of series D funding for China-headquartered artificial intelligence technology provider AInnovation, DealStreetAsia reported on Friday. China International Capital Corporation subsidiary CICC Alpha, Guohe Capital, Riverhead Capital and Huaxing Growth Capital had supplied an undisclosed amount of series C funding for the company in December 2020 at a valuation of at least $1bn and its earlier backers include online lender CreditEase.
Bitcoin technology and financial services provider Nydig has co-led a first close of undisclosed size for US-based Bitcoin management software provider Unchained Capital’s series A round, which has a $25m target for its final close. The tranche was co-led by Stone Ridge Holdings Group and included Ten31, Ecliptic Capital, Starting Line, Stronghold Resource Partners, Trammell Venture Partners’ Bitcoin Venture Fund and Platform Ventures, the last six of which took part in a $5.5m seed round for Unchained in March this year led by Nydig and also backed by Capital Factory. It had raised $3m from assorted individuals in 2018.
Consumer electronics producer Oppo and automotive manufacturer GAC Group’s GAC Capital unit have co-led a funding round for China-based spatial intelligence technology developer Deep Mirror sized at a minimum of $15m, DealStreetAsia reported on Friday. The round was co-led with investment and financial services group Fidelity’s Eight Roads Ventures subsidiary and included SAIC Capital, a corporate venturing vehicle for carmaker SAIC, and Fosun RZ Capital – part of conglomerate Fosun – as well as battery manufacturer Sunwoda, investment manager Yuexiu Enterprises’ Yuexiu Fund and Volcanics Venture.
China-based smart robotics technology developer TimeRiver has raised $15m in series A funding from investors including Baidu Ventures, a corporate venture capital subsidiary of internet group Baidu, DealStreetAsia reported on Friday. ZWC Holdings led the round, which also featured Lotus Lake Capital and TusStar, an incubator linked to Tsinghua University. It came in the wake of a $2.8m round in April 2020 led by Baidu Venttures and backed by Zhineng Dianwang Ventures and Panda Capital.
Vault Platform, the UK-headquartered developer of an intelligent software platform for reporting workplace misconduct, completed an $8.2m series A round today led by internet technology provider Google’s artificial intelligence fund, Gradient Ventures. The round included Illuminate Financial, Kindred Capital and Angular Ventures and it came after a $4.2m seed round in April 2019 led by Kindred Capital and backed by Angular Ventures, System.One, Jane VC and angel investor Mike Chalfen.
United Arab Emirates-based digital wallet developer Ziina has secured $7.5m in seed capital from investors including internet company Jabbar Internet Group, TechCrunch reported today. The round was co-led by Avenir Growth and Class 5 Global and also featured Wamda Capital, FJ Labs, Graph Ventures, Goodwater Capital, Oman Technology Fund’s Jasoor Ventures vehicle and Anim.
Financial services firm State Bank of India has invested an undisclosed amount in India-based business payment platform developer Cashfree, VCCircle reported today. The company had secured $35.5m in a November 2020 series B round led by private equity firm Apis Partners and backed by video game developer Smilegate and existing investors including Y Combinator, increasing its overall funding to more than $41m.
Ready, Set, Food, the US-based developer of a system which helps babies overcome food allergies, has raised $3.5m in a funding round led by healthcare provider Edward-Elmhurst Health. It was joined by Danone Manifesto Ventures, the investment vehicle for packaged food producer Danone, in addition to AF Ventures and private investor Mark Cuban, the three investors that had supplied $3m for the company in July 2020, increasing its overall funding to $5.2m in the process.
MDI Ventures, the corporate venturing arm of telecoms firm Telkom Indonesia, has co-led a $3m funding round for Indonesia-based digital healthcare services provider Prixa with Trans-Pacific Technology Fund. The round was also backed by health system Siloam Hospitals Group and the capital will go to expanding the startup’s product offering.
Decentralised finance data provider DeepDAO announced $3m in pre-seed and seed funding from investors including financial technology group JRR and crypto exchange operator BlueHelix on Friday. LD Capital and YBB Foundation co-led the pre-seed round, DFG and Hypersphere co-led the seed round and DeepDAO’s backers include Moonwhale Ventures, Morningstar Ventures, SevenX Ventures, AU21 Capital, TRGC, Incuba Alpha, Bitfwd, Illusionist Group, Puzzle Ventures, Paka Capital, Kernel Ventures, Lancer Capital, Waterdrip Capital, LVT Capital, Infinite Decentralization Capital, Kolektivo Labs, Moon Capital, ArkStream Capital, ID Theory, DAO Maker, Ellipti, Stratos Technologies and angel investors Andrey Shirben Vishal Kankani, Sergei Chan, Jemma Xu and Mr Block, it said.
Canada-based smart lighting technology startup Intelight Innovations has received C$2.2m ($1.8m) from investors including software producer Microsoft and enterprise computing services provider Arrow ECS, BetaKit reported on Friday. The Government of Ontario’s Autonomous Vehicle Innovation Network supplied $610,000 for the round, which will support a pilot project for the company’s streetlight technology in the Ontario town of Innisfil.
M&A
Event software producer Bizzabo has agreed to acquire US-based smart personal assistant developer X.ai for an undisclosed amount, allowing telecoms and internet group SoftBank to exit. Fenox Venture Capital, DCM and Silicon Valley Bank helped add $10m to close X.ai’s series B round at $33m in 2017, adding to $23m from SoftBank unit SBNY, DCM, Two Sigma Ventures, Work-Bench Ventures, IA Ventures, Firstmark Capital, Lerer Hippeau, Tuesday Capital (then CrunchFund) and Pritzker Group Venture Capital at a valuation of about $100m the previous year. It has raised approximately $45m in funding altogether.
