Uber will acquire a 27.5% stake in Grab as part of a deal where the latter will get its local operations, as a small number of players tighten control of the sector worldwide.
Author: Robert Lavine
Corporate venturing deal net: 19-23 March 2018
Userlane, the Germany-based developer of a software navigation system, raised €4m ($4.9m) on Wednesday in a series A round that included Main Incubator, a subsidiary of financial services firm Commerzbank. Capnamic Ventures led the round, which also featured High Tech Gründerfonds (HTGF) and FTR Ventures, and which came after an undisclosed amount of seed capital… Continue reading Corporate venturing deal net: 19-23 March 2018
CommonBond forges $50m series D
Fifth Third Bancorp led the Nelnet-backed student loans service provider’s series D round, taking its total funding to more than $130m.
Naspers nets almost $10bn in Tencent share sale
Naspers, which invested $32m in the internet group in 2001, three years before its IPO, will reduce its stake from 33.2% to 31.2%.
Dropbox stores $756m from IPO
Existing investor Salesforce invested another $100m in a private placement, as the file storage platform floated above its range at an $8bn+ valuation.
Oyo to make room for up to $800m
Existing backer SoftBank and two new investors are reportedly in discussions to invest between $500m and $800m in the budget accommodation provider.
Corporates help direct $30m to Digital Reasoning
Artificial intelligence software provider Digital Reasoning boosted its overall funding to $127m with a BNP Paribas-led round featuring HCA, Nasdaq, Square and Barclays.
Zaveri finds partner position in Gradient
Google-backed AI fund Gradient Ventures has hired Muzzammil Zaveri, a former member of Tencent’s Silicon Valley team, from an investor role at venture firm KPCB.
Nox is all at Sea in series B
Sea has contributed to a $31.6m round for Nox, the China-based developer of a programmatic advertising platform that aims to overcome regional differences.
SoftBank leads Mythic series B round
AI chip developer Mythic has closed a $40m round led by SoftBank Ventures that included another corporate venturing unit, Lockheed Martin Ventures.
Sinar Mas and Yahoo Japan form $150m fund
The corporates, together with venture firm Yahoo Japan, have committed $100m to a Southeast Asia-focused tech fund that will invest up to $15m at series B stage and later.
Mitsui treats Columbia Asia in $210m round
Hospital and clinic operator Columbia Asia has secured $210m in a round that containted $140m from Mitsui, which had previously supplied $101m in 2016.
Cheddar rolls up another $22m
The business and politics-focused online broadcaster’s series D round includes Antenna Group, Dentsu, Liberty Global and existing backers including several other corporates.
Diageo brings Belsazar on board
Vermouth brand Belsazar is the first portfolio company of Diageo-backed accelerator Distill Ventures to be acquired by the corporate.