Funding
Threekit, the US-based creator of a visual e-commerce platform, raised $35m yesterday in a series B round featuring IT services firm Capgemini and enterprise software providers Salesforce and ServiceNow. Venture capital firm Leaders Fund led the round, which included Shasta Ventures, the VC firm that led Threekit’s $20m series A round in late 2019. That round was also backed by Salesforce unit Salesforce Ventures and assorted private investors, and it increased the company’s overall funding to $30m.
Internet and gaming group Tencent led a $26m series A round on Monday for Mod.io, the Australia-based developer of a software platform that facilitates the management of online user-generated content (UGC). It was joined by Lego Ventures, the investment arm of toy brand Lego, as well as Makers Fund, Play Ventures, GameTech Ventures, OIF Ventures and Sequoia Capital India’s Surge fund. The company had raised $1m from Play Ventures, GameTech Ventures and unnamed angel investors in March 2020 and added $4m in a December 2020 seed round featuring entertainment and consumer brand developer Machinefloor, Makers Fund, Play Ventures and GameTech Ventures.
US-based molecular delivery chip developer Mekonos secured $25m yesterday in a series A round that included TDK Ventures, a subsidiary of electronics manufacturer TDK, as well as pharmaceutical firms Novartis and Debiopharm, through dRx Capital and Debiopharm Health Investment respectively. The round was co-led by Peak6 Investments vehicle Peak6 Strategic Capital, Reimagined Ventures and Fiscus Ventures and also backed by Section 32, Sands Capital and Elementum Ventures. It followed a $4.6m seed round led by Novartis in December 2020.
Traive, a Brazil-based provider of credit financing for farmers, raised $17m last month in a series A round featuring agribusiness Syngenta, steel producer CSN and credit rating provider Experian, Latin American Business Stories reported. They invested through Syngenta Group Ventures, CSN Inova Ventures and Serarsa Experian respectively, and were joined by SP Ventures, which led the round, Tiger Global Management and Minerva Venture Capital. Traive had received $1.3m from The Syndicate Fund in July 2019 and $2.5m from SP Ventures. Bread & Butter Ventures and Techstars in November 2020.
FunNow, the Taiwan-based operator of a mobile activity booking platform, has completed a $15m series B round featuring the corporate VC subsidiaries of internet services provider PChome, tour provider KKday and IT services firm Wistron as well as travel agency Sanpu Travel Group. The round was co-led by financial services firm Perfect Hexagon Commodity and Investment Bank and Ascendo Ventures and also featured CDIB Capital, Darwin Venture Management, Accuvest and CSV Venture Fund. It came three years after e-commerce firm Alibaba’s Entrepreneur Fund led a $5m series A round also backed by Darwin, Accuvest and CDIB Capital owner China Development Industrial Bank that pushed its overall funding to $6.5m.
AudioMob, the UK-based operator of a service which inserts audio advertising into online games, has secured $14m in a series A round that included internet technology provider Google, TechCrunch reported yesterday. Makers Fund and Lightspeed Venture Partners co-led the round, which also featured Sequoia Capital’s Scout Program and which followed $2m in seed funding from investors including Atomico in November 2020.
US-based medical transportation provider SafeRide Health raised an undisclosed amount of series B funding from investors including Fresenius Medical Care Ventures, the corporate VC subsidiary of kidney dialysis provider Fresenius Medical Care. The round was led by Sands Capital and also backed by Seminal Capital, Hill City Capital, Fry’s Path Capital, Primetime Partners, Bonfire Ventures and Meridian Street Capital. The company had secured $2.8m from unnamed investors in 2017 and added an undisclosed amount in a 2019 series A round featuring Fresenius Medical Care Ventures, Amplify.LA, Bonfire Ventures, FCA Venture Partners and Meridian Street Capital.
Notabene, the US-based operator of a regulatory compliance and collaboration software platform for cryptocurrency, secured $10.2m on Monday in a series A round featuring crypto lender BlockFi’s investment arm as well as cryptocurrency exchanges Luno and Bitso, financial services provider Illuminate Financial and CMT Digital, part of trading firm Capital Markets Trading. The round was co-led by investment and financial services group F-Prime Capital and Jump Capital and included Fenbushi Capital, Castle Island Ventures, Green Visor Capital, Signature Ventures and angel investor Charlie Delingpole. The company had raised $2.3m as of a $1.8m round featuring Castle Island Ventures, Green Visor Capital, Lynett Capital, Dialectic and private investor Pardon Makumbe.
Bahrain-based fiat-to-crypto exchange operator CoinMena has raised $9.5m in a seed round that included quantitative trading firm Alameda Research and financial services provider Arab Bank Switzerland, Forbes reported on Monday. They were joined in the round by Beco Capital, Kenetic Capital, Bunat Ventures and Girnas Capital.
Edstart, the Australia-based operator of a lending service for school fees, has received A$10m ($7.4m) in funding from investors including NAB Ventures, the VC arm of financial services firm National Australia Bank, Startup Daily reported on Monday. Heal Ventures also participated in the round, which followed $3.4m in series A funding from NAB Ventures and Larsen Ventures in November 2019.
Medical device producer Omron agreed last month to invest an undisclosed amount in China-based robotic arm developer Techman Robot in return for a 10% stake. Techman is set to collaborate with the corporate on technology development and geographic expansion.
US-based RNA diagnostics technology developer GeneCentric Therapeutics completed a $7.5m series B1 round on Monday that included laboratory operator LabCorp and Alexandria Venture Investments, the VC arm of life sciences real estate investment trust Alexandria Real Estate Equities. The round also featured IAG Capital Partners and Hatteras Venture Partners and it came after a $5m round backed by LabCorp and Hatteras that closed in 2014 as well as $6.1m from unnamed investors in 2017 according to a regulatory filing.
Inworld AI, the US-headquartered creator of a software platform facilitating the creation of artificial intelligence-based virtual people, raised $7m in seed capital on Monday from investors including Meta, the social media group formerly known as Facebook. VC firms Kleiner Perkins and CRV co-led the round, and the technology is expected to be utilised in a range of areas from video games to employee training.
Cannabis producer Aurora Cannabis has agreed to pay an undisclosed amount for a ‘significant’ stake in Growery, the Netherlands-based owner of a licence entitling it to take part in a controlled cannabis experiment the country is holding. Aurora is also providing debt financing which will help the company build a production facility.
Jet Protocol, the US-based developer of a decentralised lending and borrowing protocol, secured $6.8m on Monday from investors including Solana Capital, the VC arm of blockchain developer Solana Labs, as well as cryptocurrency platform developer AscendEX and trading firm TPS Capital. The round was also backed by digital asset trader GSR, Reciprocal Ventures, Three Arrows Capital, Republic Capital and SkyVision Capital. It followed a $4.8m seed round five months ago featuring trading firms Alameda Research and MGNR, Sino Global Capital, Robot Ventures, ParaFi Capital, Defiance Capital, Kinetic Capital, Stablenode, CMS and various individuals.
Marubeni Archlog, the Japan-based operator of a building materials marketplace Arch-Log, received ¥699m ($6.2m) in funding from construction firms Haseko Corporation and Maeda Corporation on Monday. The company did not reveal details of earlier financing but said its overall funding now stands at about $15m.
Netherlands-based automotive services provider Travis Road Services raised €5m ($5.8m) on Monday from investors including logistics firm Versteijnen and Shell Ventures, the corporate venturing subsidiary of oil and gas supplier Shell. They were joined by Brabantse Ontwikkelings Maatschappij and the round came after Shell invested an undisclosed amount in the company in 2019.
Mobile game publisher Voodoo provided an undisclosed amount of funding for Israel-headquartered casual game studio Teskin on Monday. Teskin, which specialises in puzzle and ‘match three’ games, will use the funding to expand its team and develop additional titles.
Udhaar Book, the Pakistan-based developer of a mobile bookkeeping and inventory management platform, has secured $6m in a seed round that included Fatima Gobi Ventures, the investment vehicle operated by conglomerate Fatima Group, Magnitt reported on Monday. Muir Capital, JAM Fund, Commerce Ventures, Liberty City Ventures, Atlas Ventures and Integra Partners also participated along with angel investors Omri Dahan and Immad Akhund.
Internet company GMO took part in a ¥610m ($5.4m) series A round for Japan-based smart family trust service Trinity Technology today through subsidiary GMO Venture Partners. The round included Mitsubishi UFJ Capital, which invested on behalf of financial services firm Mitsubishi UFJ, as well as VC firm Jafco. The startup had secured an undisclosed amount of seed funding from angel investors Hideto Fujino, Masaki Yamamoto, Yoshihiro Hongo and Jun Sugita in June this year.
Meow, the US-headquartered creator of a compliant investment software platform for corporates, disclosed $5m in seed funding on Monday from investors including digital currency exchange Coinbase’s corporate venturing unit, Coinbase Ventures. The round also featured Gemini Frontier Fund, Lux Capital, Jump Capital, Slow Ventures, Shine Capital, Castle Island Ventures and Acrylic.
Energy utility Helen and sports car manufacturer Porsche have combined to invest an undisclosed amount in &Charge, the Germany-based operator of an e-mobility loyalty scheme, Deutsche Startups reported on Monday. They supplied the funding through their respective corporate VC vehicles: Helen Ventures and Porsche Ventures.
Jet Media Network, a US-based company looking to build online properties in partnership with celebrities, has completed a $2.5m seed round featuring digital entertainment and technology provider JetSynthesys, Variety reported on Monday. Los Angeles Media Fund led the round, which included 10X Capital, Gaingels, Spivy Private Capital and Equinox Systems.
Japan-based automated warehouse robot developer LexxPluss received an undisclosed amount of pre-series A funding on Monday from investors including Mitsui Sumitomo Insurance Venture Capital and SMBC Venture Capital, on behalf of insurer Mitsui Sumitomo and financial services provider Sumitomo Mitsui Banking Corporation. The round was also backed by Spiral Innovation Partners’ Logistics Innovation Fund, Incubate Fund and SOSV, the last two having joined conglomerate Sumitomo in a seed round of undisclosed size in March 2021.
Face White, a Japan-based distributor of Chinese films, secured ¥110m ($975,000) yesterday from investors including broadcaster TV Tokyo, animation studio Pierrot, live event broadcaster Live Viewing Japan, figure manufacturer Good Smile Company, cinema complex operator Sasaki Holdings, pachinko producer Daiichi and anime-related memorabilia provider Movic. They participated in the round alongside NewJoy Limited Partnership.
Creo Technology, the Japan-based operator of an automated indoor farm, closed a ¥100m ($880,000) funding round on Monday that included Kemuri Ventures, a VC offshoot of restaurant operator En-Rest. The round was also backed by investment firm PE&HR and incorporated existing debt financing and grant funding.
M&A
Alcoholic beverage retailer ReserveBar agreed on Monday to purchase US-based on-demand alcohol marketplace Minibar Delivery for an undisclosed amount, allowing alcohol distributor Southern Glazer’s Wine & Spirits to exit. The corporate had invested an undisclosed sum in Minibar Delivery in March this year.
Additional reporting by Liwen-Edison Fu.
