Payment services firm Visa invested an undisclosed amount in Japan-based online consumer credit service Paidy as part of a series C round that stood at $55m as of last month. Diversified trading group Itochu led the first tranche, taking part alongside included investment banking firm Goldman Sachs. Paidy had then raised a total of $80m, its past investors including internet company CyberAgent, human resources firm Recruit, financial services firm SBI and trading and technology group Susquehanna International Group.
Conglomerate Itochu is set to invest in China-based connected electric vehicle producer Singulato Motors, according to Reuters. Financial terms have not been confirmed, though people familiar with the matter told Reuters that the amount would be less than $9m. It is not clear if Itochu’s commitment will form part of the $474m series C round that Singulato is reportedly raising. Singulato previously obtained $600m in a series B round featuring cybersecurity firm Qihoo 360, TaoYun Beijing Investment Fund and GX Capital in 2016.
Nigeria-based online payment processor Paystack has secured $8m in series A funding led by its peer Stripe, with participation from payment firm Visa and internet company Tencent, according to TechCrunch. Tencent and Comcast Ventures previously supported a $1.3m seed round in 2016 that also Singularity Investments, Spark, M&S Partners, Tokyo Founders Fund, Blue Rinc Capital, Pave Investments, KIBS-CFY Partners and assorted angel investors.
RootPath, a US-based biotechnology developer that is working on a platform for personalised immunotherapy targeting cancer, closed a $7m seed round yesterday led by Sequoia China, with participation from Baidu Ventures, the corporate venturing division of internet company Baidu, Volcanics Venture and Nest.Bio Ventures, whose parent, incubator Nest.Bio, launched the startup last year. The money will help RootPath advance its programs and collect key data on their efficacy, accuracy and safety in animal models.
US-based food chain monitoring technology developer TeleSense obtained $6.5m on Tuesday in a series A round featuring Maersk Growth, the corporate venturing arm of logistics and shipping container conglomerate AP Moller-Maersk. Finistere Ventures led the round, which also featured University of California-backed Congruent Ventures, financial services firm Rabobank’s Food & Agri Innovation Fund, Radicle Growth, Trailhead Capital and Plug and Play Ventures. [read more about this deal on our sister site, Global University Venturing]
DrayNow, a US-based shipping brokerage marketplace, has closed a $5m series A round led by Comcast Ventures, the corporate venturing arm of mass media group Comcast, and supported by venture capital firm Osage Venture Partners. DrayNow, which allows shippers and brokers to book excess trucking capacity, previously obtained an undisclosed amount in seed funding in 2014 from Genacast, a seed-stage venture fund founded in partnership with Comcast Ventures.
Exabel, a Norway-based developer of artificial intelligence technology for the financial services industry, has disclosed that it raised Nkr38m ($4.7m) earlier this summer in a second seed round funded by automotive and electrical technology producer Sanden as well as Vatne Equity, Andenæsgruppen, Melesio Capital, Axan Invest, First Partners Holding 5, Holta Invest and LT Invest. The company said about 40% of the funding was supplied by new investors, and it came three months after a $1.8m grant from Research Council of Norway.
Nebula Genomics, a US-based human genome sequencing and healthcare big data company, has received $4.3m in a seed round backed Hikma Ventures, the investment unit of pharmaceutical firm Hikma, as well as Hemi Ventures, Khosla Ventures, Arch Venture Partners, Fenbushi Capital, Mayfield, F-Prime Capital Partners, Great Point Ventures, Windham Venture Partners, Mirae Asset, Hikma Ventures and Heartbeat Labs. Nebula has also inked a partnership with genomics company Veritas Genetics. It is not clear whether Veritas obtained any equity as part of that deal.
UK-based marketing technology developer Phrasee has collected $4m in series A funding from investors including digital communications company Next Fifteen, Albion Capital, which led the round, and angel syndicate Galvanise Capital. The money will go towards Phrasee’s international expansion efforts as the company scales up its US operations in San Francisco. Next Fifteen and Galvanise Capital previously injected $1.3m in seed funding in 2016.
American Family Ventures, the corporate venturing subsidiary of insurance provider American Family, led a $4m seed round in IngeniousIO, a US-based platform that uses artificial intelligence technology to turn documents related to construction projects into actionable insights. The investment comes as the company officially begins operations.
Kodit, an artificial technology spinoff of Finland-based rental property provider Y-Foundation, has completed a €1.7m ($2m) seed round co-led by media company Schibsted and VC firm Speedinvest’s Speedinvest x fund, Business Insider Nordic has reported. VC firm Icebreaker.vc also participated in the round, the proceeds of which will support growth elsewhere in Europe.
India-based freight management services provider ShipX has secured $1m from logistics business Mahindra Logistics. Founded in 2008, ShipX operates a software-as-a-service platform aimed at the supply chain industry that offers insights into an entire logistics network. Mahindra Logistics, which has been a customer of ShipX for three years, hopes to boost its end-to-end digitisation and make its operations more efficient, while ShipX will use the money to develop additional functionality.
Pixibo, a Singapore-based platform that helps consumers find the right size at fashion e-commerce sites, has raised a seven-figure US dollar series A round led by Start Today Ventures, the investment arm of e-commerce company Start Today, Tech in Asia reported today. Pixibo has raised the money as it prepares to launch a digital personal shopper that sifts through e-commerce portals to suggest suitable items based on preference, physical attributes and previous purchases.
Rooter, the India-based creator of a social sports media network, has received Rs 45m ($640,000) in pre-series A funding from a group of angel investors through incubator platform Venture Catalysts, the Economic Times reported on Monday. The startup had previously raised funding from talent management agency Kwan Entertainment and angel investors Dhruv Chitgopekar and Prantik Dasguptaan in 2016 and a similarly undisclosed amount from consumer electronics and appliance maker Intex Technologies in March 2017.
China-based educational group Huike has closed a series D round of undisclosed size backed by China Oceanwide Holdings and Xinlongmai Capital, China Money Network reported today. The company has now raised more than RMB1.5bn ($220m) to date, according to a press statement, with Fosun RZ Capital, the investment arm of conglomerate Fosun, providing $20m in series A capital in 2014. Qianhe Capital then supplied $47m in series B funding in 2015, before Beijing Huaruan Jinhong Asset Management injected an undisclosed amount of series C funding in 2016.
China-based artificial intelligence technology developer Ice Tech Science and Technology has obtained an undisclosed amount of series B funding led by Intel Capital, the corporate venturing unit of chipmaker Intel, China Money Network reported on Wednesday. Green Pine Capital Partners and Frees Fund also took part in the round, which will allow Ice Tech to further develop its algorithm, chips and cloud services and strengthen its partnerships. Dongchen Fund previously led a series A round of undisclosed size in 2015.
Healthcare technology services provider CitiusTech has made a strategic investment of undisclosed size in US-based healthcare management consultancy FluidEdge Consulting. CitiusTech expects the partnership will help it engage with healthcare clients, leverage enterprise technology and deploy new products.
US-based photovoltaic (PV) technology producer Itek Energy obtained an undisclosed sum from PV module manufacturer Silfab Solar yesterday. The money will enable Itek to commercialise its high-performance solar modules in the US and to cope with demand. The company targets both consumers and businesses, and has delivered more than 100 megawatts of power to date.
Lambda, a Singapore-based data storage technology developer that uses the blockchain, has received an undisclosed amount from digital asset management firm FBG Capital yesterday, two weeks after cryptocurrency technology producer Bitmain supplied an undisclosed figure. The company has not specified what it intends to do with the funding.
– Additional reporting by Robert Lavine, news editor, and Callum Cyrus, reporter