Forward Investments, the corporate venturing vehicle sponsored by Dubai Electricity and Water Authority, provided an undisclosed amount for US-based infrastructure security software provider Nozomi Networks on Tuesday. Nozomi raised an undisclosed sum from Telefónica Innovation Ventures, a subsidiary of telecommunications firm Telefónica, in July this year, and had secured a total of nearly $54m from investors including power producer Invenergy’s Energize Ventures fund as of a $30m series C round in late 2018.
Axa Venture Partners, the venture capital firm sponsored by insurance firm Axa, led a $10m series B round for Troy Medicare, the US-based creator of a software platform for care providers working with the Medicare Advantage health insurance plan, on Tuesday, that included investment firm Sunwater Capital. The company closed its series A round at $9.5m in January this year, according to a regulatory filing.
Flyreel, the US-based developer of an artificial intelligence tool for property insurance providers, completed a $10m series A round on Wednesday backed by State Auto Labs, a subsidiary of insurer State Auto Insurance Companies, as well as internet technology provider Google’s Gradient Ventures fund, insurance software producer Guidewire and forensic investigator Donan Engineering. The round was led by IA Capital Group and took Flyreel’s total funding to $18m, $3.85m of which was supplied by Gradient Ventures, Donan and State Auto Labs in April 2019.
AP Ventures, the investment firm majority owned by consumer finance and financial technology provider Afterpay, has paid $10m for a 20% stake in China-based e-commerce finance platform developer Happay. The startup launched its buy now, pay later service in August this year and has partnerships in place with more than 1,000 retailers.
Bridge Medicines, a US-based developer of drug treatments for acute leukaemia, angioedema and other inflammatory disorders, has raised $10m from pharmaceutical firm Takeda, life sciences investment firm Bay City Capital and private equity firm Deerfield Management. The three investors formed the company in 2016 in partnership with Memorial Sloan Kettering Cancer Center, The Rockefeller University and Weill Cornell Medicine.
Internet group Tencent invested an undisclosed amount in Wave, the US-based developer of a virtual entertainment platform, yesterday, through its Tencent Music Entertainment Group subsidiary. Wave had previously raised a total of $42.5m, as of a $30m round in June this year featuring Superfly Ventures and NTT Docomo Ventures – which invested on behalf of creative agency Superfly and mobile network operator NTT Docomo – music distributor Avex, Maveron, Griffin Gaming Partners, Convivialite Ventures, Raised in Space, Scooter Braun, Alex Rodriguez, Kevin Lin and Rick Farman.
Arent, a Japan-based consulting firm focused on computer-aided design, received ¥1bn ($9.6m) in equity and debt financing on Monday from investors including J&TC Frontier, a joint venture by engineering services provider JFE Engineering Corporation and leasing and financing provider Tokyo Century. J&TC Frontier first revealed it has invested in the company in July this year.
Family office FR Group led an $8.7m series B round yesterday for Amicus.io, the US-based developer of a donor-advised fundraising platform, investing alongside financial services firm Wells Fargo’s Startup Accelerator. The company, which has not revealed details of its earlier financing, has also released a product called DAF 2.0 platform for use by consumer banks.
Sensor and control technology producer Sensata Technologies’ investment arm, Sensata Ventures, joined Export Development Canada to provide an undisclosed amount for Canada-based energy management technology developer Peak Power on Wednesday. Real estate developer Osmington invested an undisclosed sum in Peak Power in May 2017, three months before it received $1.5m in grant funding from Sustainable Development Technology Canada. Its earlier backers include MaRS Investment Accelerator Fund.
Northstar, the US-based creator of a financial wellness service tailored as an employee benefit, raised $7.3m on Tuesday in a series A round featuring enterprise software provider Workday’s corporate venturing unit, Workday Ventures. The round was led by venture engine M13, included VC firm Foundation Capital and increased Northstar’s overall funding to $10.7m, the company said. Its earlier backers include Designer Fund, Swell Partners, RRE Ventures, Ludlow Ventures and Parade Ventures.
Israel-headquartered Ride Vision launched a collision-aversion system for motorcycles on Tuesday having secured $7m in series A funding from investors including automotive mirror producer Metagal. The round was led by equity crowdfunding platform OurCrowd and also featured VC firm YL Ventures and mobility-focused fund Mobilion VC. The company has now received $10m altogether, including $2.5m in a June 2018 seed round led by YL Ventures.
US-based software encryption technology developer Ubiq Security received $6.4m in seed capital yesterday from investors including DLA Piper Venture and Alexandria Venture Investments, on behalf of law firm DLA Piper and life sciences real estate trust Alexandria Real Estate Equities respectively. The round was led by VC firm Okapi Venture Capital and also featured TenOneTen Ventures, Cove Fund and Volta Global.
Consumer loyalty service operator BLoyalty has led an S$8m ($6m) series A round for Singapore-based employee health benefits platform developer Mednefits, e27 reported on Tuesday. The corporate’s digital engagement subsidiary, B Infinite, will look to automate the benefits process for some of the customers of Mednefits, which had previously raised approximately $7.4m in funding according to e27.
US-based embedded payment software provider Infinicept secured an undisclosed amount on Tuesday in a funding round co-led by payment services firm Mastercard and VC firm MissionOG. The company, which has some 250 corporate customers including Mastercard, will allocate the funding to product innovation and sales and marketing activities. It had previously been part of the corporate’s Start Path scheme.
Paceline, the US-based developer of a mobile app that gives financial rewards for healthy behaviour, has raised $5m in a seed round co-led by financial services firm BBVA’s VC arm, Propel Venture Partners, CrunchBase News reported today. VC firm Montage Ventures co-led the round, which included financial services provider Northwestern Mutual and angel investor Mark McCombe.
Payment services firm Visa has invested an undisclosed amount in Lisnr, a US-based developer of ultrasonic data transmission technology. It had previously invested in the company in November 2019, a month before it raised a similarly undisclosed sum from NTT Docomo Ventures, the corporate VC arm of mobile network operator NTT Docomo. Semiconductor technology provider Intel’s investment subsidiary, Intel Capital, led a $10m series B round for the company in 2017 that included R/GA Ventures, on behalf of advertising agency R/GA, taking its total funding to $14.4m.
VastBiome, a US-headquartered startup developing microbiome-based drugs for cancer and autoimmune disease, has received $4.5m in a seed round co-led by pharmaceutical firm Merck & Co’s Global Health Innovation Fund, CrunchBase has reported. The round was co-led with Viking Global Investors and Timewise Investment, and the proceeds will fund technology development, recruitment and the initiation of clinical studies for its product pipeline.
Cobalt Ventures, the VC arm of health insurance provider Blue Cross and Blue Shield of Kansas City, led a $4m series A round on Monday for Nymbl Science, a US-based developer of fall prevention technology for older adults. Phillip Linville, principal at Cobalt Ventures, will take a board seat at Nymbl in connection with the round, which followed $2.3m in August 2019 according to a securities filing. Its other investors include Social Starts, Joyance Partners and Rockies Venture Club.
Food Market Hub, a Malaysia-based provider of procurement and inventory management software for the food and beverage industry, has received $4m from Go-Ventures, the VC firm sponsored by ride hailing service GoJek, and quantitative trading firm Susquehanna International Group, The Business Times reported on Wednesday. The cash will be used to bolster the company’s business in its home market and help it expand into Indonesia, Thailand and Vietnam.
BizTech Fund, a joint venture formed by diversified trading group Itochu and private equity firm Mercuria Investment, provided an undisclosed amount on Monday for Propy, the US-based developer of a blockchain-equipped real estate transaction platform. The company raised $15m in a 2017 initial coin offering before adding an undisclosed sum from Second Century Ventures in June 2019 and $1.2m in September this year from three backers that would have included angel investor Tim Draper.
Glint Pay, the UK-headquartered creator of a gold-based payment and savings platform, has secured £2.5m ($3.3m), half of which came from undisclosed private investors and half from the UK government’s Future Fund, Finextra has reported. The company raised $6.3m in a June 2019 private placement led by asset manager Sprott that took its total funding to $15.2m, following $3.9m from financial exchange operator Tokyo Commodity Exchange, IT equipment maker NEC’s CSV Venture Fund and VC firm Venture Labo Investment in 2017.
Energy utility Evergy led a $3.25m series A round for US-based electricity marketplace WattBuy on Wednesday through investment affiliate Evergy Ventures. The round also featured Updater, Avesta Fund, Fort Ventures, Techstars Ventures, Powerhouse Ventures and angel investors Yoav Lurie, John Sherman, and Bill Gatreaux. The company said it has now raised $5m, including a $1.5m seed round it closed in July 2019. It named Fort Ventures, Techstars Ventures and Powerhouse Ventures as existing backers.
Volvo Group Venture Capital, the investment arm of commercial vehicle manufacturer Volvo Group, provided an undisclosed amount of funding for Sweden-based freight marketplace operator Adnavem on Tuesday. Runa Capital led a $4m round for the company in August this year that also featured fellow VC firm Spintop Ventures.
Gaudiy, a Japan-based provider of blockchain-equipped digitisation technology for the entertainment industry, raised ¥300m ($2.9m) in pre-series A funding on Monday from investors including digital media company Gree’s Strive fund. The company had secured an undisclosed amount in a February 2019 seed round featuring newspaper publisher Mainichi Newspapers’ Mainichi Future Creation Laboratory, e-book distributor Media Do, data centre operator Broadband Tower, Jafco and angel investors including Hironao Kunimitsu and Osamu Yamamoto.
Strive also participated in a ¥300m ($2.9m) funding round for Warc, a Japan-based provider of back-end support for startups, on Monday. Finance management app developer Money Forward, VC firm East Ventures and undisclosed individuals also took part in the round, which followed approximately $1.8m from unnamed VC firms and angel investors in January 2019.
Media and e-commerce group Naspers provided R45m ($2.9m) in funding for South Africa-based online learning platform developer The Student Hub on Wednesday. The company had previously raised $300,000 from angel investors Maude Gliwa, Bill Paladino and Jacques Ludik in 2016 and the latest investment came through the corporate’s Naspers Foundry unit.
Lisse, the Japan-based operator of an artificial intelligence-equipped contract review service dubbed Legal Check, received approximately ¥216m ($2.1m) on Tuesday from business management software provider Miroku Jyoho Service and unnamed individuals. The startup joined Microsoft for Startups, an accelerator initiative run by software provider Microsoft, in November 2019.
Consulting firm Accenture invested an undisclosed sum in TripleBlind, a US-based developer of data privacy and virtual clean room technology, on Wednesday through corporate VC unit Accenture Ventures. The deal will also involve the startup joining the Project Spotlight initiative launched by Accenture Ventures last week, and it will collaborate with Accenture’s Innovation Hubs, Labs and Liquid Studios subsidiaries.
Cooper, the Netherlands-headquartered developer of a private online professional network, launched on Tuesday with $2m from a seed round led by mass media group Comcast’s corporate venturing unit, Comcast Ventures. The corporate was joined by LocalGlobe, 468 Capital, Combine and undisclosed angel investors, and the capital will support the growth of Cooper’s team along with its business in Europe and the United States.
South Korea-based autonomous driving tool developer Morai completed a $1.8m series A round on Tuesday featuring Kakao Ventures and Naver D2 Startup Factory, subsidiaries of internet groups Kakao and Naver. The round included Korea Credit Guarantee Fund while Naver D2 Startup Factory participated as an existing backer.
Cookpy, the Japan-based developer of a virtual kitchen design tool, secured an undisclosed amount of pre-series A funding on Wednesday from Code Republic, an accelerator backed by internet company Yahoo Japan’s YJ Capital unit; Food Future Fund, a vehicle for the Kemuri Ventures fund formed by restaurant operator En-Rest; and Colopl Next, a subsidiary of game publisher Colopl. The company had received an undisclosed amount from YJ Capital and partner VC firm East Ventures when it entered Code Republic in December 2019.
Prodigo Solutions, a US-based provider of supply chain management software for healthcare providers, has raised $1.6m from care provider University of Pittsburgh Medical Center (UPMC) and private equity firm Alliance Healthcare Partners, Pittsburgh Business Times reported on Tuesday. It was spun off by UPMC in 2008 before Alliance Healthcare paid $12.5m for a 51% stake in 2014. The two combined to add $5m in February 2017, $2m eight months later, $3.5m in June 2018 and $6m in December 2019.
Japan-based professional football club Mito HollyHock received an undisclosed amount of funding from investors including general contractor Suzunui, car seller Isozaki Automobile, lactic acid drink and yoghurt producer Mito Yakult, trading firm Hirosawa Shoji, Tabby and Okunoyahama Sangyo. Mito Hollyhock had received an undisclosed amount from a range of corporate investors last month.
Diversified conglomerate Sistema took part in a £1.1m ($1.5m) seed round on Wednesday for KisanHub, a UK-based developer of supply chain management software, through corporate venturing subsidiary Sistema VC. The round was led by Low Carbon Innovation Fund 2 and included IQ Capital and Notion Capital. It follows $1m in a Notion Capital-led seed round in 2016, $2.4m from Notion, IQ Capital, Calibrate Management and unnamed individuals in early 2018 and $4.2m from Sistema VC, Notion and IQ Capital in July 2019.
Tafdata, the Japan-based developer of artificial intelligence-equipped tennis training software product Tennis Labo, has secured an undisclosed amount from Deepcore, the AI fund owned by telecommunications and internet group SoftBank, it disclosed on Monday. The company has also begun testing its technology with indoor tennis school Noah Indoor Stage.
Financial services firm Icici Bank is set to pay Rs 23.3m ($310,000) for a 7% stake in SLO Technologies, the India-based owner of fraud detection and prevention software platform AdvaRisk, VCCircle reported on Tuesday, citing a regulatory filing. The deal came after SLO received $700,000 in a September 2019 seed round led by Sprout Venture Partners that included SEA Fund and angel investors Varadarajan Srinivasan and Sharad Bhatia.
Retail group Marui invested an undisclosed amount in Japan-based crowdfunding platform developer Campfire on Tuesday following a similarly undisclosed sum from e-commerce company Base last week. Corporate investors Itochu, KDDI, Credit Saison, SoftBank, FreakOut Holdings, Search Field, Ceres, World, Alliance Partners, Parco and Ogaki Kyoritsu Bank had joined VC firm Global Brain to provide $20m for Campfire through a May 2019 series C round that increased its overall funding to $31m.
Strarts, the Japan-based promoter of an online exhibition called the IT & Marketing Expo, secured ¥25m ($240,000) from investors including CyberAgent Capital, the corporate VC arm of internet company CyberAgent, on Wednesday. The corporate joined VC firm KVP and undisclosed angel investors in the round.
Japan-headquartered petrochemical producer Idemitsu Kosan has provided an undisclosed amount of capital for an evergreen fund managed by cleantech-focused investment firm Emerald Technology Ventures. The corporate also plans to establish an open innovation hub in Emerald’s home country of Switzerland.
Additional reporting by Liwen-Edison Fu.
