Ultromics, the UK-based developer of a system that uses artificial intelligence to analyse echocardiograms, completed a $10m financing round on Tuesday featuring medical research and care provider Mayo Clinic, Oxford Sciences Innovation (OSI) and Nina Capital. OSI supplied an undisclosed amount of seed capital for Ultromics in 2017 before returning for a $13.4m series A round in May 2018 alongside Neptune, RT Ventures, GT Healthcare, Tanarra, Fushia and angel investors Andre Crawford-Brunt and Dieter Spält.
Kasada, the US-based creator of a web traffic-focused security software platform, received $10m on Tuesday in a series B round led by venture capital firm Ten Eleven Ventures that included Reinventure, the VC firm backed by financial services firm Westpac, as well as Main Sequence Ventures. The company had closed a $7m round in December 2019 featuring Reinventure, Main Sequence Ventures’ Csiro Innovation Fund, In-Q-Tel and Our Innovation Fund that boosted its overall funding to $13.4m.
Health services provider Optum has led a funding round of undisclosed size for US-based patient engagement platform developer DocASAP through corporate venturing unit Optum Ventures, the company disclosed on Wednesday. DocASAP closed an $800,000 seed round led by healthcare payment services firm MultiPlan in 2013, before adding $8.6m in 2017 and closing an $18m investment by a single undisclosed investor in January this year.
Diversified trading group Itochu provided ¥1bn ($9.4m) in series B equity funding and convertible note financing yesterday for Trende, a Japan-based renewable energy retailer spun off by energy utility Tokyo Electric Power (Tepco). The company had previously raised $6.5m in a September 2018 series A round led by Tepco that also featured public services provider Dubai Electricity and Water Authority as well as Showa Shell Sekiyu, a local subsidiary of petroleum supplier Shell.
Perimeter81, an Israel-based cloud and network security technology provider backed by cybersecurity software producer SonicWall, has closed a funding round of undisclosed size led by an unnamed US investment fund that valued it at $100m, Globes reported on Tuesday, citing a regulatory filing. Spring Ventures led a $5m round for the startup in March 2019 and returned for a $10m series A round led by SonicWall in November that reportedly took its total funding to $17m. It closed a $4.5m extension led by Toba Capital and backed by unnamed existing investors in March 2020.
UNest, the US-based creator of a mobile app that helps users save money for their children’s higher education, has pulled in $9m in funding from investors including Northwestern Mutual Future Ventures, the corporate VC vehicle for mutual insurance firm Northwestern Mutual, TechCrunch reported on Tuesday. Anthos Capital led the round, which was also backed by Baron Davis Enterprises, Artemis Fund, Draper Dragon and Unlock Ventures. The company had raised a total of $5.5m as of January 2020 when it closed a $3.5m seed round featuring Northwestern Mutual Future Ventures.
Indonesia-based online furniture merchant Fabelio has completed the $9m first close of its series C round, which was co-led by telecommunications firm Telkom Indonesia’s MDI Ventures unit, e27 reported on Wednesday. AppWorks and Endeavour co-led the tranche, which included Aavishkaar Capital. Fabelio received $500,000 from 500 Startups, KK Fund, IMJ Investment Partners and angel investors Sandeep Tandon and Roshni Mahtani in 2015, $2m in series A funding from IMJ, 500 Startups and Venturra Capital in 2016 and $6.5m in an Aavishkaar-backed series B round in March 2018. It has now raised $20m in total according to e27.
Japan-based entertainment content provider Unlimited rebranded to Brave on Tuesday having raised ¥800m ($7.5m) from investors including construction firm Aoki Group, mobile entertainment provider Gumi and financial services firm Mizuho Bank, which invested through Anniversaire Holdings, Gumi Ventures and Mizuho Capital respectively, as well as digital advertising firm Septeni Holdings, recruitment firm MyNavi, AG Capital, EFU Investment and angel investors including Akira Katayama. It has now received about $9.3m in total.
US-based aerial data provider DroneBase received $7.5m in series C funding on Wednesday from investors including drone manufacturer DJI and Hearst Ventures, the corporate VC subsidiary of media group Hearst. The corporates joined Valor Equity Partners, Razi Ventures, Union Square Ventures, Upfront Ventures and Pritzker Group Venture Capital in the round, which lifted DroneBase’s total funding to $32m. It had revealed a total of $17m in funding before industrial sensor provider Flir invested an undisclosed amount in April 2019.
Tackle.io, the US-based operator of a monetisation service for cloud marketplaces, has secured $7.25m in a series A round led by VC firm Bessemer Venture Partners. The company has not disclosed details of earlier funding, but its investors include Sandusky Ventures, the corporate venturing subsidiary of media group Sandusky.
GoFor Industries, the Canada-based operator of a last-mile delivery service, completed a C$9.8m ($7.2m) seed round on Wednesday featuring Cemex Ventures, the strategic investment arm of building materials supplier Cemex. The round was led by Builders VC and included Mucker Capital, Plug and Play Ventures, Panache Ventures, I2BF Global Ventures and Capital Angel Network. GoFor is using the cash to launch its GoFor Dispatch platform as it looks to expand across North America.
US-based quantum computing technology developer IonQ received an amount likely to be $7m on Tuesday from industrial appliance producer Robert Bosch’s investment arm, Robert Bosch Venture Capital, as well as aerospace manufacturer Lockheed Martin and VC firm Cambium Capital Partners. IonQ said it has now raised $84m in total, and its overall funding stood at $77m as of October 2019 when it secured $55m from investors including corporates Samsung, Amazon, Hewlett Packard, Alphabet and Airbus.
Ideo CoLab Ventures, a fund established by design agency Ideo, and DG Lab Fund, a vehicle formed by corporates Digital Garage, Kakaku, Credit Saison and KDDI, took part in a seed round for US-based Bitcoin financial services provider River Financial that closed at $5.7m on Wednesday. The round also featured Polychain Capital, Slow Ventures, Castle Island Ventures, Cygni, Pfeffer Capital and angel investors including Steve Lee.
DiogenX, a France-based startup developing type one diabetes treatments, closed a €4.5m ($5.1m) seed round on Tuesday that included pharmaceutical firm Boehringer Ingelheim’s strategic investment vehicle, Boehringer Ingelheim Venture Fund. The corporate was joined by Advent France Biotechnology and JDRF T1D Fund, and the cash will support the selection of DiogenX’s first product candidate and help the company prepare it for preclinical development.
Spain-based digital insurance provider SingularCover has secured almost €4.5m ($5.1m) in a series A round featuring insurance firms Mutua Madrileña and Liberty Mutual, the latter through strategic investment arm Liberty Mutual Strategic Ventures, El Referente reported yesterday. They were joined in the round by Antai Venture Builder and Global Founders Capital, the investors that had supplied $2m in seed funding for SingularCover in June 2019.
Spain-based cybersecurity software developer CounterCraft received $5m on Wednesday from investors including energy utility Red Electrica Group and Wayra, the open innovation arm of telecoms firm Telefónica. The round was led by VC firm Adara Ventures and included eCapital, Evolution Equity Partners and Oraz Investments. CounterCraft had secured $1.1m from Telefónica Open Future, Adara Ventures, Orza and the Spanish government in 2016, before the first three joined Evolution Equity Partners to add $2.5m in March 2018.
Slamcore, a UK-based developer of algorithms for drones and robotics systems, raised $5m on Monday in a round co-led by VC firms Octopus Ventures and MMC Ventures that included Toyota AI Ventures, the corporate VC vehicle for automotive manufacturer Toyota, and Amadeus Capital Partners. The company secured an undisclosed amount from Amadeus, Sparx Group and Imperial Innovations in 2017 before adding $5m from Toyota AI Ventures, Amadeus, MMC Ventures, Octopus Ventures and Mirai Creation Fund the following year.
AerialSphere, a US-based developer of immersive aerial mapping technology, has closed a $5m series A round led by property development services provider Jokake Companies. The round also featured undisclosed new and existing investors and it boosted AerialSphere’s overall funding to $6.3m. The capital will go to sales and marketing and product development, in addition to the company’s ongoing expansion throughout the United States.
Popsical, a Singapore-based karaoke system provider backed by media group MediaCorp and karaoke chains Cash Studios and Teoheng, has secured S$6.9m ($4.9m) in a series A round led by VC firm Quest Venture Partners, DealStreetAsia reported on Wednesday. The round also featured Seeds Capital and the company’s earlier backers include Seeds Capital owner Spring Singapore, Apricot Capital and, according to DealStreetAsia, OMG Capital.
Tracklib, the Sweden-based operator of an online music sample discovery and licensing platform, received $4.5m on Monday from investors including consumer electronics producer Sony’s Innovation Fund and Eelko van Kooten, founder of record label Spinnin’ Records. The company had already raised $1.7m in a May 2019 round led by Sony Innovation Fund and backed by media holding company WndrCo and Jörg Mohaupt, and will use the new funding to increase the size of its track catalogue.
Wingly, the France-based flight sharing service that graduated from media group Axel Springer’s Plug and Play Accelerator in 2016, closed a €3m ($3.4m) funding round on Tuesday led by Innovacom Fund. The company received an undisclosed amount from Yhibaud Elziere, Felix Haas and Charles Cabillic in early 2016 before entering the accelerator, and added $2.5m in an early 2018 seed round featuring Howzat Partners, Philipp Rösler and Stephane Mayer. The latest investment will fund growth in France, Germany and the UK.
Icaria, the Japan-headquartered developer of a uranalysis-based cancer detection system, rebranded to Craif on Wednesday having secured an undisclosed amount of series A funding from investors including real estate developer Mori Trust and Aflac Ventures, the investment arm of health insurance provider Aflac. The corporates joined Founders Fund’s FF Apec Scout fund, Anri, Daiwa Corporate Investment, an unnamed Japanese company and an undisclosed US investment fund. Icaria had previously raised an undisclosed sum from Nedo in January 2019.
Germany-based employee services startup Back Technologies yesterday disclosed $3.3m in seed funding from investors including Gradient Ventures, the artificial intelligence investment arm of internet technology provider Google. La Famiglia led the round, which also featured Point Nine Capital, Seedcamp and angel investors including Charles Songhurst, Matthias Hilpert and Renaud Visage. It came after Seedcamp and Point Nine had provided an undisclosed amount for the company in November 2019.
Recruitment services provider En-Japan co-led a ¥345m ($3.2m) debt and equity financing round for Only Story, a Japan-based developer of sales support software, on Monday. The corporate co-led the equity portion of the round with VC firm XTech Ventures, and angel investor Noboru Hachimine also participated. The debt was supplied by undisclosed financial institutions.
U-Map, the Japan-based creator of an advanced material called Thermalnite that helps reduce heating in electronic devices, received ¥300m ($2.8m) today from investors including Real Tech Fund, the vehicle formed by biofuel supplier Euglena, research provider Leave a Nest and investment firm SMBC Nikko. The round also featured financial services firms Shinsei Bank, Ogaki Kyoritsu Bank’s OKB Capital unit, Tokai Tokyo Financial Holdings’ Tokai Tokyo Investment subsidiary, and Kyoto University Innovation Capital.
ScoreData, a US-based business optimisation software developer backed by human resources firm Recruit, has completed a series A round of undisclosed size led by VC firm Impact Venture Capital. The company had raised an undisclosed amount of seed funding from 500 Startups, Global Reach Investments, Elevate Innovation Partners and 3one4Capital in 2017 before Recruit added an undisclosed sum through its RSP Fund Ⅵ in early 2018.
Cloudtenna, a US-based file search software developer that counts network and virtualisation technology provider Citrix as an investor, secured $2.5m from existing backers including investment firm Blazar Ventures on Wednesday. Blazar Ventures led a $4m seed round featuring Citrix that was disclosed when Cloudtenna emerged from stealth in mid-2018. The latest financing was revealed alongside the launch of its Cloudtenna Workspace mobile app.
MMC Innovation, a joint venture for advanced materials producers Mitsubishi Materials Corporation and Japan Material Technologies Corporation, supplied an undisclosed amount for Japan-based advanced battery developer Connexx Systems yesterday through a strategic partnership agreement. Connexx had raised an undisclosed sum from K4, the corporate venturing subsidiary of energy utility Kansai Electric Power, in April 2019.
Canada-based 3D modelling technology developer PreVu3D raised C$2.5m ($1.8m) in seed capital on Wednesday from investors including Deepcore Tokyo, an investment vehicle for telecoms and internet group SoftBank’s AI incubator and VC fund, Deepcore. The round was led by VC firm Brightspark Capital and also featured Desjardins Capital, a subsidiary of financial cooperative Desjardins Financial Group. The company said it has now raised about $2.4m altogether and named Deepcore as an existing investor.
IDDK, the Japan-based developer of an electronic microscopic observation system, received an undisclosed amount from printing services firm Dai Nippon Printing, electronics manufacturer Toshiba and precision parts producer Misuzu Industries Corporation on Wednesday. Toshiba plans to utilise the company’s technology in a cancer detection system and has set 2022 as the target for clinical testing of the proposed device.
Internet company NetEase has invested €1.5m ($1.7m) in Aiva Technologies, the France-based creator of a system that uses artificial intelligence to write music, Paperjam reported on Monday. Aiva had preciously received $780,000 in funding from Kima Ventures and undisclosed angel investors in January 2018, and the latest round will support its growth in China, where NetEase is headquartered.
Financial services firm Sumitomo Mitsui Banking Corporation provided an undisclosed amount for Japan-based online entrepreneurial community Creww on Tuesday in tandem with its VC arm, SMBC Venture Capital. Creww had received $30,000 from Incubate Fund, which is backed by internet company DeNA, in 2012, before adding $1.2m in seed capital from broadcast media group Nippon TV the following year and $2.2m from financial services firm Orix and VC firm Mistletoe in 2015.
Sumaten, a Japan-based provider of a firefighting equipment inspection technology, raised ¥130m ($1.2m) in pre-series A funding from VC firm Energy and Environment Investment on Wednesday. The deal came after rescue services firm Japan Best Rescue System had invested an undisclosed amount in Sumaten in June 2019.
Monex Ventures, the strategic investment arm of foreign exchange services provider Monex, joined VC firm Miraise to supply an undisclosed amount of seed capital for Frame00, the Japan-based developer of decentralised reputation and payment protocol Dev Protocol, on Monday. Frame00 had raised an undisclosed amount of pre-seed funding from Miraise, cybersecurity technology provider Sios Technology and angel investors including Sōtarō Karasawa, Toshiyuki Yasuno, Kazuya Kawaguchi, Hajime Kurosawa, Sadaaki Hirai, Masaaki Sugiura, Kōichi Katō and Aya Tokura in September 2019.
Telecoms firm Bharti Airtel has paid an undisclosed amount for a 10% stake in India-based digital learning tools developer Lattu Media through the latter’s participation in its Startup Accelerator Program, the Economic Times reported yesterday. Lattu is the fourth startup to join the scheme since it was launched in October 2019 and plans to now expand its business across the country.
Soundraw, a Japan-based developer of music composition software, secured ¥65m ($610,000) on Wednesday from investors including SoftBank’s Deepcore incubator and investment fund. The round also featured KLab Venture Partners and angel investors including Dai Sunagawa, Atsushi Fukuda, Shuhei Yamashita and Ichiomi Kinabae, and the capital will fund the enhancement of the beta version of Soundraw’s product.
Rainmatter, the incubator and investment vehicle formed by online share trading platform Zerodha, has provided Rs 35m ($460,000) in funding for GoldenPi, the India-based operator of an online marketplace for bonds and debentures, BusinessWorld reported yesterday. Zerodha will also offer its investor customers access to the GoldenPi platform.
Additional reporting by Liwen-Edison Fu.
