M&A
Lightspin, an Israel-based cloud security platform backed by computing technology producer Dell, has been acquired by communications equipment provider Cisco for $200m. The corporate’s investment arm, Dell Technologies Capital, led a $16m series A round for Lightspin in mid-2021 to take its total funding to $20m.
BetterPlace, a provider of frontline workforce management software, agreed to buy Troopers, a Malaysia-based recruitment services platform that counts marketing technology provider Shopper360 as an investor, for an undisclosed amount. Shopper360 had supplied $950,000 for Troopers in 2021.
Public markets
AnyMind Group, a Japan-headquartered ecommerce services platform backed by corporates Japan Post, Proto, Line, Gunosy and VGI Global Media, listed on the Tokyo Stock Exchange’s Growth Market. The company had raised $91.7m in funding prior to the flotation, according to its initial public offering filing.
Japan-based lunar exploration technology developer iSpace received approval to float on the Tokyo Stock Exchange’s Growth Market on April 12. It had raised at least $176m in funding from investors including corporates Airbus, Takasago Thermal Engineering, Tokyo Broadcasting System, Dentsu, Konica Minolta, KDDI, Japan Airlines, Shimizu, Toppan, Suzuki and Mitsui Sumitomo as of a $46m round in 2021.
Funding
US-based coding infrastructure automation platform Env0 increased a series A round featuring software provider Microsoft’s M12 unit to $35.1m with an extra $18.1m. The round was led by Venture Guides and included StepStone Group, Knollwood Investment Advisory, Boldstart Ventures, Grove Ventures and Crescendo Venture Partners, and it lifted the company’s overall funding to $41.9m.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Advance | On-demand salary services provider | Financial | Philippines | Pre-A | 16 | 29/03/2023 | Phoenix Holdings; Do Ventures (co-lead), Lendable (co-lead), Kaya Founders, Foxmont Capital, Oyster Ventures, Cross Ocean Ventures, Wavemaker Partners, Next Billion Ventures, Integra Partners, Accion Venture Lab |
| Kakehashi | Recruitment and customer service provider for the healthcare industry | Healthcare | Japan | C | 13.6 | 29/03/2023 | Aflac (Aflac Ventures); Mizuho Financial Group (Private Equity Co-Invest), DNX Ventures, Chiba Dojo (Chiba Dojo Fund) |
| Genialis | Computational precision medicine developer | Healthcare | US | A | 13 | 29/03/2023 | Debiopharm (Debiopharm Innovation Fund) (co-lead); Taiwania Capital (co-lead), First Star Ventures, Redalpine Venture Partners, Pikas, P5 Health Ventures, unnamed angel investors |
| Ivry | Voice recognition software provider | Telecoms | Japan | B | 9.9 | 29/03/2023 | Mitsubishi Estate (Bricks Fund Tokyo); Sumitomo Mitsui Banking Corporation (SMBC Venture Capital), Mitsubishi UFJ (Mitsubishi UFJ Capital), Mizuho Financial Group (Mizuho Capital), Femto Partners, Headline Asia |
| S-Alpha Therapeutics | Digital myopia treatment provider | Healthcare | South Korea | B | 8.4 | 29/03/2023 | CJ Group (CJ Investment); Korea Investment Partners, Tony Investment, LB Investment, Mirae Asset Capital, Hana Financial Group (Hana Ventures) |
| Playbook | Gen Z and millennial-focused finance app | Financial | US | A | 7 | 29/03/2023 | Telstra (Telstra Ventures); Atomic VC |
| Impact Observatory | Geospatial mapping technology developer | Services | UK | Seed | 5.9 | 30/03/2023 | Esri |
| Open Payments | Open banking platform | Financial | Sweden | N/A | 3.3 | 30/03/2023 | Sony Financial Group/Global Brain (Sony Financial Ventures); Industrifonden (lead) |
| Sarna | Mobile trading and investing platform | Financial | US | Seed | 2.5 | 28/03/2023 | Simplex Trading (Simplex Ventures), Wedbush Financial Services (and through Wedbush Ventures); Motivate Ventures |
| Aravita | Smart purchasing software provider for supermarkets | Services | Brazil | N/A | 2.5 | 30/03/2023 | Qualcomm (Qualcomm Ventures); 17Sigma |
| Dricos | Healthcare automation technology developer | Healthcare | Japan | Pre-B1 | 1.1 | 29/03/2023 | Coconala (Coconala Skill Partners), Asahi Broadcasting (ABC Dream Ventures); Spiral Innovation Partners (T&D Innovation Fund) (lead) |
| RQD Clearing | Correspondent clearing provider | Financial | US | N/A | N/A | 28/03/2023 | Belvedere Trading (Belvedere Strategic Capital) |
| Higharc | Developer of smart homebuilding management software | Industrial | US | N/A | N/A | 28/03/2023 | Ferguson (Ferguson Ventures); Starwood Capital Group |
| LCI | Aviation subsidiary of conglomerate Libra Group | Industrial | US | N/A | N/A | 30/03/2023 | Sumitomo Mitsui Finance and Leasing |
| Redaptive | Energy efficiency financing and installation service | Energy and Natural Resources | US | N/A | N/A | 29/03/2023 | Honeywell |
| ScadaFence | Operational technology-focused cybersecurity software provider | IT | Israel | N/A | N/A | 30/03/2023 | Mitsubishi Electric (ME Innovation Fund) |
| H2L | Developer of muscle movement detection technology | Healthcare | Japan | N/A | N/A | 30/03/2023 | Toyota Boshoku (lead) |
| Hanagata | Education services provider | Services | Japan | N/A | N/A | 29/03/2023 | ODK Solutions |
| Neith | Operator of women’s lifestyle brand Rinē | Consumer | Japan | N/A | N/A | 29/03/2023 | Eversense |
| Entli | High School graduate recruitment platform | Services | Japan | N/A | N/A | 29/03/2023 | Quantum Leaps (Quantum Leaps Ventures); Osaka Social Issue Solving Fund |
