US-based software testing technology provider Testim completed a $10m series B round on Wednesday featuring NHN Ventures, the corporate venturing vehicle for internet company NHN Entertainment. The round was led by SignalFire and included Meron Capital, Lightspeed Venture Partners and Spider Capital, and it took Testim’s overall funding to $18.9m, it said. Lightspeed led its $5.6m series A round in November 2017, and it identified NHN Ventures and Spider Capital as existing backers alongside Foundation Capital and Heavybit.
Foodles, a France-based high-tech catering service backed by food services provider Elior, has secured €9m ($10m) in funding from family-owned investment fund Creadev and venture capital funds DN Capital and Adelie. The round will allow Elior, which invested roughly $2.2m in Foodles in 2017, to exit the company, and the proceeds will support international growth and commercial expansion.
China-based medical imaging technology provider Deepwise closed a series C round of undisclosed size led by insurance provider Sunshine Insurance Group on Monday. The round included Silk Road Huachuang, Sunland Fund and existing investors Legend Capital and Legend Star, which were respectively founded and operated by conglomerate Legend Holdings; Kinzon Capital, which is run by conglomerate Fosun; Danhua Capital and Tendence Capital. It had previously raised more than $22m, as of November 2017.
Cybersecurity services provider and investment firm Merlin International supplied $8m of series B funding for Israel-based cybersecurity management software developer Cyber Observer on Tuesday. The investment represented Merlin leading a series B round of undisclosed size, though no further details were disclosed. Cyber Observer had raised $1m from angel investor Shaul Shani in 2015 before closing a $3m round in 2017 that was led by Talis Capital and backed by Swarth Group, which was billed as an existing investor.
Vacan, the Japan-based creator of a digital service that informs users of empty seats on transport and in venues, raised ¥790m ($7.3m) from telecommunications company NTT East, general contractor Shimizu Corporation, electronics distributor T-Gaia, JR East Startup, which invests on behalf of rail operator JR East, and Scrum Ventures on Tuesday. The company had previously received $900,000 from Scrum Ventures and Reality Accelerator in June 2018.
Design software producer Ansys co-led a $7m funding round yesterday for Edge Case Research, a US-based developer of safety technology for autonomous driving systems. The round was co-led by private investor Chris Urmson and included Lockheed Martin Ventures and Liberty Mutual Strategic Ventures, subsidiaries of aerospace manufacturer Lockheed Martin and insurer Liberty Mutual respectively, as well as Trucks VC and Blue Tree Allied Angels.
Kamet Ventures, the insurance technology startup studio owned by insurance group Axa, provided €6m ($6.8m) in series A funding on Wednesday for Apricity, the UK-based developer of a virtual fertility clinic. The investment comes in the wake of Apricity’s recent acquisition of egg donation services provider Altrui and it increases the former’s overall funding to about $10m, though the company has not disclosed details of its earlier financing.
Huidian Cloud, the China-based operator of a digital electricity trading platform, secured an eight-figure renminbi amount (RMB10m = $1.45m) on Wednesday in a series A round that included Baidu Ventures, a corporate venturing subsidiary of internet group Baidu. The round was also backed by V-Capital and BOC & Utrust Private Equity Fund, the latter of which had provided an undisclosed amount of funding for Huidian in January 2018.
Tripla, the Japan-based creator of an accommodation booking tool and automated reply service, raised ¥600m ($5.5m) in series C funding on Tuesday from JR East Startup, cloud services provider Rakus, cosmetics brand Lux and Mitsui Sumitomo Capital, insurer Mitsui Sumitomo’s corporate VC unit. The corporates were joined by Innovation Engine, Lead Capital Management, CSAJ Startup Fund Investment, NREG Innovation Fund I Investment, Hack Ventures and Kips.
CityFurnish, an India-based furniture and appliance rental service backed by media group Bennett Coleman & Co (BCC), has received $5m in funding from Global Founders Capital, Venture Highway, Soma Capital, SCM Advisors, Boomerang Ventures and angel investors Paul Buchheit and Steve Chen, DealStreetAsia reported on Monday. The company had raised $600,000 from BCC’s ad-for-equity subsidiary, Brand Capital, and undisclosed angel investors, and $150,000 from Y Combinator as of March this year, according to YourStory.
Japan-based iCare, the operator of healthcare automation platform Carely, secured ¥520m ($4.8m) on Monday, from investors including Mitsui Sumitomo Capital, Mizuho Capital and SMBC Venture Capital, subsidiaries of financial services firms Mizuho Bank and Sumitomo Mitsui Banking Corporation, as well as Global Brain’s SFV GB vehicle, Incubate Fund and Beyond Next Ventures. It has now raised about $7.9m in total, including $880,000 from Incubate Fund in 2016.
US-based student loan refinancing service Splash Financial completed a $4.3m funding round on Monday that was led by CMFG Ventures, the strategic investment arm of insurance and financial services group Cuna Mutual. The round also featured insurance provider Northwestern Mutual’s VC subsidiary, Northwestern Mutual Future Ventures, and the cash will support the formation of more partnerships with banks and credit unions in addition to the growth of Splash’s market presence.
Financial services firm ABN Amro’s Digital Impact Fund invested an undisclosed amount on Wednesday in Thetaray, the Israel-based developer of an artificial intelligence-equipped cybersecurity platform for the financial industry. Thetaray had previously raised a total of $60m, half of which came in a July 2018 series B round featuring power and industrial technology provider General Electric, financial services firm Bank Hapoalim, Jerusalem Venture Partners (JVP), OurCrowd and SVB Investments.
One Visa, a Japan-based company that helps foreign-born employees get citizenship, secured ¥450m ($4.1m) on Tuesday in a round featuring real estate services provider Zenhoren, internet company CyberAgent’s Fujita Fund, IT services firm Nihon Unisys’ Canal Ventures unit, financial services firms Seven Bank and Ogaki Kyoritsu Bank, Anri, and debt financing from Japan Finance Corporation. It had previously received $330,000 from Primal Capital and Skyland Ventures in June 2017 and $450,000 from Anri three months later.
Osmosis, a US-based developer of medical education videos, has raised $4m in a funding round led by VC firm Felicis Ventures that included insurance provider Coverys, Greycroft Partners, FundRx, Figure 8, Social Starts and LearnStart, TechCrunch reported on Tuesday. The latter seven were all described as existing investors, and the round comes after Osmosis secured $2.5m in December 2018, with Greycroft and FundRx revealed at the time by CrunchBase to be participants, along with angel investor Greg Coleman.
Financial services firm UniCredit has paid an undisclosed sum for a 10% stake in Italy-based supply chain finance provider FinDynamic, BeBeez reported on Monday. Co-founder Ervis Jace holds a 5% stake in the company while angel investors including Mauro Anastasi own 10% between them. The companies have also formed a partnership agreement, allowing UniCredit to offer FinDynamic’s service to its small business customers.
Leal, the Colombia-based provider of a consumer rewards service, has received $3m in funding from investors including FCP Ventures, the corporate venturing subsidiary of utility operator EPM. The round boosted Leal’s overall funding to $5m and will support its entry into El Salvador and Panama, representing the first part of a more widespread expansion into Central America.
Contract manufacturer Resonetics supplied an undisclosed amount of debt and equity financing yesterday for Medibrane, an Israel-based provider of polymeric products for the pharmaceutical industry. Resonetics became a shareholder in the company when it acquired partner STI Laser, a producer of laser cutting equipment, in November 2018.
Laboratory equipment producer As One and QTNet, a subsidiary of electric utility Kyushu Electric Power, participated in a ¥280m ($2.6m) financing round yesterday for L-is-B, the Japan-based creator of enterprise communication platform Direct, that valued the company at $32.5m. Both corporates are already among the company’s customers, and it will use the capital to add new products while strengthening its existing offering.
Itochu Pulp & Paper, the paper production subsidiary of diversified trading group Itochu, yesterday paid an undisclosed amount for a 10% stake in Asterisk, the Japan-based developer of a smartphone-mounted barcode reader called AsReader. The investment was made in connection with a partnership agreement that will involve Asterisk’s products being distributed through Itochu Pulp & Paper’s sales network.
US-based Stride launched its curated travel booking platform on Wednesday having secured an amount reported by TechCrunch to be $2.5m in seed capital from investors including JetBlue Technology Ventures and TDG Ventures, the corporate venturing arms of airline operator JetBlue and logistics provider Transnational Diversified Group. Its other investors include JetBlue co-founder John Owen, NFX, Silicon Valley Angels, New York Angels, Plug N Play Technology Ventures and assorted angel investors.
US-based sports and entertainment marketing platform 4Front has raised a seven-figure sum from sports business services provider Global Sports Commerce in return for a minority stake. The corporate will use the investment in 4Front to increase its exposure to the North American markets, while 4Front will use the cash to drive recruitment and further develop its offering for sports teams and leagues, which includes analytics, digital media, innovation and partnership sales.
Netherlands-based biorefinery technology developer Grassa secured €2m ($2.3m) on Tuesday in a series A round featuring compound feed producer Fransen Gerrits. The round was led by VC fund Brightlands Venture Partners and also featured regional development fund LIOF and undisclosed existing shareholders. The cash was raised alongside the formation of a strategic partnership with Fransen Gerrits and will fund product development and commercialisation.
US-based blockchain game developer Uplandme completed a funding round reported by Coindesk to be $2m in size yesterday, with the round being led by FinLab EOS VC Fund, a VC vehicle formed by blockchain technology provider Block.one and financial services company builder FinLab. The proceeds will support the launch of its first title, a digital property trading game called Upland.
Property developer Mitsubishi Estate has led a seed round of undisclosed size for GorillaSpace, a Singapore-based online marketplace for workspaces, Business Times has reported. Interactive media company Silversea Media also took part in the round, and the funding will allow GorillaSpace to hire additional staff and further develop its product as it looks to expand and treble its listings. It graduated from Propell Asia, a property-focused accelerator operated by real estate services provider JLL and property manager Lendlease, in November 2018.
South Africa-based digital insurance provider Inclusivity Solutions closed the $1.5m first tranche of its series A round yesterday, with the funding coming from investors including RGAx, the accelerator run by advertising agency RGA. The tranche was led by Goodwell Investments and included Umkhathi Wethu Ventures, the VC arm of investment holding company Umkhathi Wethu Holdings, and unnamed angel investors. RGAx took part as an existing backer.
Human resources firm Recruit supplied an unspecified amount of capital for Israel-based cryptocurrency digital wallet developer Breez Development on Monday, providing the money through its RSP Fund VI. Founded in May 2018, Breez is working on technology that enables cryptocurrency transactions to be conducted within seconds rather than minutes.
US-based training and professional development tools supplier Reflection Sciences announced on Wednesday that it recently completed a $1.3m seed round led by online education provider Edmentum. The round also featured University of Minnesota’s Discovery Capital Fund, and Edmentum chief financial officer Eric Doan has joined the startup’s board of directors in connection with its investment.
Internet company Jabbar Internet Group has led a $1m pre-series A round for Arzooo, the India-based operator of a business-to-business e-commerce platform, VCCircle reported yesterday. The corporate was joined by unnamed investors from India and the UK, according to a statement cited by VCCircle, and the round comes after Arzooo raised $220,000 from Omphalos Ventures India in May 2018.
Mirai Creation Fund II, the second vehicle to be formed by asset manager Sparx Group and backed by carmaker Toyota and diversified conglomerate Sumitomo, provided an undisclosed amount of funding on Wednesday for Groove X, the Japan-based developer of family robot Lovot. The fund had led a $38.7m round for the company in late 2017 that included corporates Amtran Technology, Line, Dai-ichi Seiko and OSG, financial services firm Sumitomo Mitsui Banking Corporation, Innovation Network Corporation of Japan, Shenzhen Capital Group and Global Catalyst Partners Japan.
Mirai Creation Fund II has also invested an undisclosed amount in AIQ Index, a Japan-based developer of software that uses artificial intelligence to scan alternative forms of data in order to assess investment decisions. The technology also utilises mobile geolocation data sourced from one of AIQ’s partners, mobile network operator NTT Docomo.
Japan-based collaborative robotics services provider Qbit Robotics increased its total funding to ¥49.2m ($435,000) on Monday, securing an undisclosed sum from automotive parts manufacturer Toyoda Gosei and real estate developer Mori Trust. The funding will allow Qbit to accelerate its recruitment drive, hiring staff for commercialisation, sales and customer support. It will also collaborate with Toyoda Gosei on the development of a robot hand that can sense the shape and softness of objects.
LetzConnect, the India-based creator of an artificial intelligence-powered educational networking portal, has secured an undisclosed amount in a pre-series A round co-led by digital wallet provider Obopay Mobile Technologies with angel networks Succeed Venture Partners and Japanese Investor Syndicate. The company allows students to interact with each other and their teachers, with a view to improving their learning experience and career prospects.
Eqon, a Japan-based developer of a real estate transaction services platform called Egent, has received ¥30m ($270,000) in funding from CA Startups Internet Fund II, a vehicle managed by internet company CyberAgent’s corporate venturing subsidiary, CyberAgent Capital, TechCrunch Japan reported on Monday. Egent allows homeowners to find a local agent to sell their property, while buyers can use the service to find suitable homes and condominiums.
Nature Innovation Group, the Japan-based operator of umbrella sharing service IKasa, has also raised ¥30m, with JR East Startup and Mitsui Sumitomo Capital investing the money on Wednesday. It has also formed a partnership with JR East and will promote its service at the latter’s railway stations, while also working with fellow JR East portfolio company TBM on an umbrella that will be made from the latter’s renewable material.
Logistics and food delivery services provider Meal Temple Group has provided an undisclosed amount for Myanmar-based grocery and food delivery platform Freshgora, e27 reported on Tuesday. Freshgora is responsible for about 100 deliveries a day in the city of Yangon through a fleet of local drivers, and Meal Temple will help the startup expand throughout the country.
Additional reporting by Thierry Heles.
