Corporate venturing deal net: 7-11 May 2018
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
GLP packages $1.6bn logistics fund
The logistics provider’s Hidden Hill Modern Logistics Private Equity Fund will make technology-focused investments in the logistics sector.
Google Assistant assembles strategic fund
Google Assistant Investments will make strategic investments to support the capabilities of Alphabet’s virtual assistant.
7wire transmits $100m from corporates for latest fund
7wire Ventures’ Connected Consumer Health Fund has secured a collection of healthcare and insurance providers as limited partners.
People
Ride hailing service Go-Jek has appointed Aditya Kumar, an alumnus of SoftBank, as its vice-president of corporate development.
Lee steps up at Softbank Korea
JP Lee has moved up from managing director at the unit, replacing Greg Moon who has joined SoftBank Vision Fund.
Exits
Canon fires off BriefCam acquisition
Motorola Solutions Venture Capital will exit video data platform BriefCam in an acquisition of undisclosed size by Canon.
YY’s live game streaming spinoff, which also counts Tencent as a major investor, is floating in the US at the top of its range.
Ascletis ascends to Hong Kong for IPO
The China-based liver disease treatment developer, whose backers include Tasly Pharmaceuticals, will float in Hong Kong following rule changes.
The Alphabet, Celgene and Mayo Clinic-backed gut-body drug developer floated at the top of its range, after about $167m in VC funding.
Big Deal: Corporates cash in as Walmart buys $16bn stake in Flipkart
Walmart invested in the e-commerce platform at a $20.8bn valuation, allowing SoftBank, Naspers and eBay to achieve billion-dollar returns.
Aslan hashes out $42m from IPO
The AMT, Accuron and Tianda Pharmaceuticals-backed cancer drug developer raised half of its initial target for the offering.
The social commerce platform, backed by Tencent and Bertelsmann, has hired Morgan Stanley, Credit Suisse and China Renaissance as underwriters for its initial public offering.
Glassdoor opens to Recruit in $1.2bn deal
CapitalG will exit the recruitment and employment review platform, which has agreed to a $1.2bn acquisition by Recruit.
ReNew Energy gears up for possible $1bn IPO
The Tokyo Electric and Chubu Electric-backed renewable energy provider is targeting an initial $386m, though share sales could take the offering to $1bn.
Unity Biotechnology passes IPO stage with $85m
The WuXi PharmaTech and Mayo Clinic-backed aging disease drug developer floated at the midpoint of its range.
iZettle looks to receive $226m in IPO
Mastercard, Intel, American Express and Santander could all exit the point-of-sale technology provider, which plans to float in Sweden.
Nokia discovers SpaceTime in acquisition deal
Industrial IoT platform SpaceTime Insight has been bought by Nokia for an undisclosed sum, providing exits to shareholders including Eon and NEC.
IT
Intel spreads $72m across 12 companies
Intel Capital has revealed investments in 12 US or China-based portfolio companies and a partnership with the NBA.
Enterprise AI technology developer Aibee has secured $15.7m from K11, which will partner the startup on technology for its shopping centres.
ThoughtSpot absorbs $145m in series D round
The Capital One and HPE-backed enterprise analytics platform has added $145m to its coffers in a round that valued it at more than $1bn.
Mesosphere amasses $125m in series D round
The hybrid cloud automation software provider took its total funding to more than $250m with a Koch Disruptive Technologies-led round featuring HPE.
Microprocessor supplier Kalray has raised the second tranche of its latest round, with Alliance Ventures among the investors.
Health
BioClin makes series B round bigger
Bladder cancer drug developer BioClin Therapeutics, backed by Novo, has increased its latest funding round from $30m to $50m.
Akili accepts $55m in series C round
Amgen Ventures and M Ventures returned to reinvest in Akili Interactive Labs, a developer of game-based treatments for cognitive conditions.
Owlet tracks $24m in series B cash
The Amazon-backed baby monitor developer will use the proceeds to support the launch of two new products this year.
Echo responds to mPulse in $11m round
Echo Health Ventures was among the series B investors as medical engagement app developer mPulse Mobile took its total funding to $25m.
Providence Ventures returned for behavioural health portal Lyra Health’s series B round, taking its funding to more than $80m altogether.
WeDoctor successfully bills investors for $500m
AIA led the round, which valued online health portal WeDoctor at $5.5bn, as part of a strategic collaboration deal.
WuXi Healthcare Ventures has returned to support the drug developer’s series B round, which included Taikang Insurance.
NeuroVison spies investors for series C round
NeuroVision has collected $11.2m from backers including VSP Global and Johnson & Johnson for a round expected to close at $15m.
Merck sends $125m to partner Moderna
Three months after raising $500m in a series G round, Moderna Therapeutics has secured $125m as part of a collaboration agreement with Merck & Co.
Consumer
Alibaba beats path to Daraz acquisition
E-commerce marketplace Daraz was launched by Rocket Internet and received funding from the Rocket and Ooreedo-formed Asia Pacific Internet Group.
Companion robot developer Embodied, backed by Intel, Amazon and Sony, has raised $12.4m in a round with a target size of approximately $18.8m.
Financial
CapitalG became the second Alphabet subsidiary to invest in the online trading platform, which more than quadrupled its valuation to $5.6bn.
Stratifi consults investors on $7m series A
Stratifi, which has created risk management software for investing, has secured series A backing from financial markets operator Cboe Global Markets.
Simplesurance looks abroad after $24m series C
Allianz X has led a round that will support Simplesurance’s expansion into Japan, the home of fellow investor Rakuten Capital.
Neon banks on Propel to raise $22m
The BBVA-backed Propel Venture Partners was among the investors in what the digital banking startup described as Brazil’s largest ever series A round.
Energy and Natural Resources
BayWa powers up corporate venturing unit
BayWa RE Energy Ventures will target energy-related technological areas like digitalisation, energy storage and e-mobility.
Industrial
Petronas Chemicals cracks open corporate venturing
The chemicals arm of oil and gas producer Petronas will use corporate venturing as one route to emerging technologies and markets.
Transport
Cleverciti pulls clutch on $15m round
Energy utility EnBW joined SDPG and Westly Group to invest in Cleverciti, the developer of a smart sensor-based car parking system.
Shenma Finance motors to $47m series C
The automotive finance provider has raised money from investors including CreditEase and Tongbanjie as it moves into four-wheeler loans.
Services
Uoko houses corporates in $157m round
The apartment manager has raised series C1 funding from investors including Greentown Service Group, Galaxy Holdings, SIG and Legend Capital.
Alibaba affiliates cater to Xiyun in $200m round
Koubei and Ant Financial joined asset manager CDH Investments for catering service provider Xiyun International’s series A round.
Life House lifts veil on $40m in funding
Comcast Ventures has led a seed round for the short-term accommodation provider, which has secured $40m across three rounds.
UPS, Qualcomm and Mercado Libre were among the backers in a $7.1m round that doubled the logistics provider’s total funding.