Weekly corporate venturing deal net 28 September – 2 October 2015
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
EVCA rebrands as Invest Europe
The trade body made the decision to reflect its expansion from venture capital and private equity to cover pension funds and insurance companies.
Fundraising
Publicis opens South African Drugstore
Publicis Machine hopes to identify local startups working on new technologies for the restaurant sector through its Drugstore accelerator programme.
Qualcomm to chip $150m into Indian startups
Qualcomm will fund mobile and internet of everything companies through a newly formed fund that will be advised by its Qualcomm Ventures subsidiary.
Accelerator Corporation speeds to $62.8m fourth fund
AbbVie and WuXi PharmaTech joined limited partners already including Eli Lilly, Pfizer and Johnson & Johnson to help the early-stage venture firm close its fourth fund.
Vertex takes fund to $141m with Infosys backing
Infosys has contributed an undisclosed amount to Vertex Ventures’ latest fund, which is targeting startups in the cybersecurity and cloud computing sectors.
PLDT to call on startups with California fund
The Philippines-based telecommunications firm expects to invest $50m in startups this year through its newly launched PLDT Capital unit.
People
Leick to depart from Innogy VC for ENBW
Crispin Leick is set to leave the corporate venturing unit, where he has served as managing director for five years, at the end of this year. to join ENBW’s venturing unit.
Constance Freedman has departed from National Association of Realtors, where she launched a venture capital unit and accelerator, to found an early-stage venture fund.
Exits
William Morris Endeavor and IDG have exited AlphaDraft in an acquisition that will facilitate fantasy sports platform FanDuel’s entry into the eSports market.
Axel Springer pays $343m for control of Business Insider
Axel Springer took a 9% stake in the online media company in January and will own 97% after the closure of a deal that values it at $390m cash and debt-free.
Cabot arranges $142m NexPlanar acquisition
Intel, Samsung and Entegris are set to exit semiconductor technology provider NexPlanar following an acquisition by Cabot Microelectronics.
Pfizer and Bristol-Myers Squibb will buy a combined $15m of stock in the immuno-oncology drug developer through the offering.
The cardiovascular-focused pharmaceutical company has raised $94m in equity from investors including strategic partner Sanofi.
Corporates take a hit as Mirna downprices IPO
The Pfizer, Baxter and Celgene-backed oncology company will raise $43.7m from an initial public offering where the share price was effectively halved in the space of two weeks.
Google finds common ground in Jibe Mobile
Vodafone and MTI will exit cloud communications technology company Jibe, which had raised $9.1m, as Google agrees to buy it for an undisclosed sum.
IT
Amino passes acid test for $6.5m
Google-backed Amino specialises in launching mobile communities apps focused on a specific topic and has created 41 such apps to date.
Acquia contents itself with $55m
The Amazon and O’Reilly-backed content management company had raised $110m as of August 2014 and will invest in product development, sales and marketing.
Norwest shines light on $25m Exabeam series B
Series A backer Norwest Venture Partners has returned for Exabeam’s series B round, boosting the cybersecurity technology developer’s total funding to $35m.
KPMG translates Norse potential into $11m
The cybersecurity technology developer has closed an $11.4m series A1 round, led by KPMG that will fund product development and international sales.
Teridion accelerates with $15m
Teridion has raised $15m in a SingTel-led series B round and made its content distribution technology generally available.
Series C investors Intel and Juniper Networks returned to contribute to a series D round that increased the cybersecurity company’s overall funding to $78m.
Health
Corvus cares for $75m series B
Immuno-oncology treatment developer Corvus has boosted its total funding to more than $100m after securing funding from backers including Novo and Roche.
BeneStream benefits from Blue Cross and Blue Shield
The insurance group backed a $2m extension to BeneStream’s series A round, which has closed at almost $6.3m.
PerfectServe aces $21m series D
MemorialCare Health system contributed to a round that took healthcare communication platform PerfectServe’s funding to about $35m since 2002.
Investors prescribe $30.6m for Asceneuron
Asceneuron, which is developing therapies for conditions such as Alzheimer’s disease, has raised cash from backers including GlaxoSmithKline, Johnson & Johnson and Merck Serono.
Access helps switch on Neon light
Immuno-oncology company Neon Therapeutics has been launched with $55m of series A capital supplied by investors including Access Industries.
Tunitas Therapeutics, which is working on treatments for allergic diseases such as asthma, has closed a series A round co-led by WuXi PharmaTech.
Media
Investors find Wayin in $15.4m series D
Tibco Software-backed marketing technology producer Wayin intends to use the funds to support further international expansion.
Medium writes up $57m series B
Google Ventures, which previously backed Medium’s $25m series A round, has returned to take part in a Chernin Group-backed series B.
Thrillist splits from JackThreads in $54m deal
Axel Springer is acquiring a stake in media company Thrillist as it spins off e-commerce business JackThreads, with the two raising a combined $54m.
Happn meets Idinvest for $14m series B
The proximity-based dating app, which has racked up 6 million users, has followed up its $8m series A with an Idinvest-led series B that will support international growth.
Consumer
BGF tailors $13.4m for ACS Clothing
Business Growth Fund has injected cash into ACS as the company plans to enter the US and offer tuxedo hiring.
Walker increases pace with $24m series B
The consumer products manufacturer has added Google to its list of shareholders and inked a deal with Target to sell its Bevel shaving products in the chain’s stores.
Madison Reed colours in $16m series C
Comcast took part in the round through its Comcast Ventures unit, and will also work with the hair colouring product maker to expand through television advertising.
PepperTap savours $36m series B
The grocery delivery service has added Snapdeal, Ru-Net and corporate-backed Beenext to its shareholders in the first close of a round that could rise to $56m.
The handmade goods marketplace has been in business since 2011 and has just raised its first external funding in a GMO-backed round.
Financial
Harmoney peers into $200m round
The peer-to-peer lending platform, backed by Trade Me at series A stage, has raised $200m in debt and equity at a $100m valuation.
Alibaba pays $680m to boost One97 stake to 40%
One97, also backed by Intel, has now raised almost $1bn, and Alibaba and financial services affiliate Ant Financial hold a combined 40% share.
SoFi signs up Softbank for $1bn series E
The SoftBank-led round, which also featured existing investor Renren, is the largest ever raised by a fintech company and reportedly values SoFi at $4bn.
Energy and Natural Resources
The wireless phone charger manufacturer has secured $10m in the form of a convertible note, with William Morris Endeavor among the investors.
Transport
Didi Chuxing enters India with Ola investment
Ride sharing service Ola, which had reportedly raised $225m in series F funding as of two weeks ago, has received an undisclosed sum from its China-based peer.
Urgent.ly flags down corporates for $7m
Allianz and Verizon have backed the roadside assistance service’s series A round, bringing the startup’s overall funding to $8.7m.
Services
Google Capital returned to back a round that valued the local services listing platform at $1.3bn and took its overall funding to about $275m.
Advance addresses $70m General Assembly series D
The IT education provider took its total funding to about $120m with an Advance Publications-backed round that could represent its last external funding.