M&A
Ride hailing service Uber has sold its remaining 7.8% stake in India-based food delivery platform Zomato for $390m, a source privy to the development told TechCrunch. Uber had taken a 9.99% stake in Zomato in early 2020 as part of the latter’s purchase of its Indian Uber Eats subsidiary, shortly after it had raised money at a $3bn valuation. Uber recently revealed it had booked a $707m unrealised loss from its Zomato stakeholding in the first six months of this year.
Credit card management services provider Cred has acquired Smallcase, an India-based wealth management platform backed by e-commerce group Amazon and financial services firm HDFC Bank, for roughly $400m. The company had last raised funding in a $40m series C round in August 2021 featuring both corporates that reportedly valued it at $200m.
Animal feed producer Nutreco is set to increase its stake in India-based agricultural data aggregator Eruvaka from 25.5% to 93.7%, and the corporate intends to fully purchase it in 2023. Nutreco acquired its existing shares when it led a series B round of undisclosed size for Eruvaka in 2018.
Private equity firm Gryphon Investors has acquired a majority stake in Rootstock Software, a US-based enterprise resource planning platform backed by enterprise software provider Salesforce. The corporate‘s investment arm, Salesforce Ventures, and Rootstock’s management team re-upped their commitment to the company along with Gryphon, but the size of the transaction is undisclosed.
Pharmaceutical firm Bayer has purchased portfolio company CoverCress, a US-based developer of sustainable winter oilseed crops, for an undisclosed sum. Oil and gas producer Chevron took part in a $26m series C-1 round in April 2021, after Bayer had invested in the company through its Leaps by Bayer unit in a $5m round the previous year that included packaging producer Hermann Companies. Leaps by Bayer’s predecessor, Bayer Growth Ventures, had taken part in a $2m round two years before.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| OriCell Therapeutics | Novel immunotherapy developer | Healthcare | China | B | 120 | 01/08/2022 | Xiamen C&D (C&D Emerging Capital); Qiming Venture Partners (co-lead), Quan Capital (co-lead) |
| Klaviyo | E-commerce marketing automation platform | Consumer | US | N/A | 100 | 01/08/2022 | Shopify |
| Savana | Bank-focused financial software provider | Financial | US | A | 45 | 02/08/2022 | Fiserv; Georgian (lead) |
| Boatsetter | Boat rental marketplace | Services | US | B | 38 | 02/08/2022 | Suntex Marinas; Level Equity (lead), Certares |
| PowerX | Power storage technology developer | Energy and Natural Resources | Japan | A | 38 (updated) | 03/08/2022 | Itochu, Mori Trust, Electric Power Development Company, Kansai Electric Power (K4 Ventures); Frontive Holding |
| Hysata | Hydrogen electrolyser technology developer | Energy and Natural Resources | Australia | A | 29.4 | BlueScope (BlueScopeX TM), Vestas (Vestas Ventures); Clean Energy Finance Corporation (Virescent Ventures) (lead), Hostplus, IP Group Australia (Kiko Ventures) | |
| Skyports | Drone infrastructure provider | Industrial | UK | B | 26.1 (updated) | ST Engineering (ST Engineering Ventures), Kanematsu Corporation, Goodman Group, 2i Aeroporti, Groupe GDP, Solar Ventus, Deutsche Bahn (Deutsche Bahn Digital Ventures); Levitate Capital, GreenPoint | |
| AvicenaTech Corp | MicroLED-based chip-to-chip interconnection system provider | IT | US | A | 25 | 02/08/2022 | Samsung (Samsung Catalyst Fund), Micron Technology (Micron Ventures); Cerberus Capital Management, Clear Ventures |
| Homzmart | Online furniture and home goods retailer | Consumer | Egypt | Pre-B | 23 | 01/08/2022 | Saudi Telecom (STV); NUWA Capital, Impact46, Outliers Ventures, Rise Capital |
| MarqVision | AI-equipped intellectual property protection platform | IT | US | A | 20 | 02/08/2022 | SoftBank (SoftBank Ventures); Y Combinator, DST Global Partners, Atinum Investments, Bass Investment |
| Twid | Rewards-based payment platform | Financial | India | A | 12 | 02/08/2022 | Rakuten Group (Rakuten Capital) (lead), Alphabet (Google); ICMG Partners, Jafco Asia, January Capital, Reddy Futures Fund, Sequoia India (Surge), Beenext |
| River | Electric two-wheel vehicle manufacturer | Transport | India | A | 11 | 02/08/2022 | Toyota (Toyota Ventures); Lowercarbon Capital (lead) |
| SpaceData | Satellite data-equipped digital twin Earth developer | Industrial | Japan | Seed | 10.7 | 03/08/2022 | KDDI (KDDI Open Innovation Fund 3), Gree (Gree Ventures); Spiral Capital, Sparx Group (Space Frontier Fund), Joe Hirao, Hiroshi Tomishima, The Creative Fund, Headline Asia, Yusaku Maezawa, MZ Web3 Fund |
| Proof of Impact | ESG and impact data intelligence platform | IT | US | Pre-A | 6 | 02/08/2022 | Rakuten Group (Rakuten Capital) (lead); Franklin Templeton Blockchain Fund, Five T, Blockrocket VC, Advaita Capital, Franklin Templeton Advisors, CV VC, Working Capital Fund, Oxford Angel Fund, Asiri |
| Sodyo | Scanning technology producer | IT | Israel | B | 5 | 01/08/2022 | ZIM Integrated Shipping Services |
| Raincoat | Climate insurance technology developer | Financial | Puerto Rico | Seed | 4.5 | 02/08/2022 | SoftBank (SB Opportunity Fund), Banco Popular, Consorcio; Anthemis (lead), 305 Ventures, Divergent Capital |
| Estate Technologies | AI-equipped real estate information provider | Services | Japan | A | 3.8 | 03/08/2022 | Itochu (Itochu Technology Ventures), Mizuho Bank (Mizuho Capital); Global Brain |
| Laboro.AI | AI-equipped consulting service | IT | Japan | N/A | N/A | 03/08/2022 | Hakuhodo |
| Acculon Energy | Non-automotive electrification system provider | Energy and Natural Resources | US | A | N/A | 02/08/2022 | Terex (Genie) |
| Exceed Orphan | Rare disease therapy developer | Healthcare | Czech Republic | N/A | N/A | 01/08/2022 | Rafa Laboratories |
| Tidal Partners | Financial advisory platform | Financial | US | N/A | N/A | 01/08/2022 | Consello |
| Openull | Buy now, pay later platform developer | Financial | South Korea | Pre-A | N/A | 03/08/2022 | Shinhan Capital, Infobank, Block Crafters |
