US-based automotive insurance startup Noblr has raised an undisclosed amount of funding from investors including insurance group White Mountains and reinsurance provider Third Point Reinsurance, which also supplied reinsurance, it disclosed yesterday. Asset manager Hudson Structured Capital Management led the round, which was announced five months after a securities filing revealed that Noblr had secured $20m of equity funding from 10 undisclosed investors.
Taiho Ventures, pharmaceutical firm Taiho’s corporate venturing arm, supplied $10m of series B funding for US-based neurodegenerative disease therapy developer Axial Biotherapeutics yesterday, adding to $25m it raised from investors including care provider Heritage Medical Systems, Health for Life Capital, Longwood Fund and Domain Associates in March this year. Heritage had joined Longwood, Domain Associates, Kairos Ventures and unnamed private investors to provide $19.2m of series A funding in 2016.
Statkraft Ventures, the strategic investment vehicle for power producer Statkraft, led an €8m ($9m) financing round yesterday for Deepki, the France-based operator of a data management platform for real estate managers. The round included Demeter and Hi Inov, the latter of which had joined SNCF Digital Ventures, rail operator SNCF’s corporate venturing unit, and Emertec (which has since merged with Demeter) for a $2.3m round in 2016. The company had been accelerated by Axeleo the previous year.
Japan-based robotics automation technology developer Linkwiz secured ¥900m ($8.3m) on Monday in a series B round featuring scientific instrument producer Mitutoyo Corporation and electronics manufacturer Panasonic. The corporates were joined by SMBC Venture Capital, a subsidiary of Sumitomo Mitsui Banking Corporation; a joint investment venture formed by leasing services provider Hamashin Lease and venture capital vehicle Shinkin Capital, both subsidiaries of financial services firm Shinkin Capital; Global Brain and INCJ.
Johnson & Johnson Innovation – JJDC, the strategic investment arm of medical group Johnson & Johnson, co-led a $7m series A round on Tuesday for Cara Care, the Germany-based developer of an app that helps users manage their gastrointestinal health. The round was co-led by VC firm Asabys Partners’ Sabadell Asabys Health Innovation Investments fund, and included Atlantic Labs, which had led a $2m seed round for the company in September 2017 that included unnamed angel investors.
Real estate developer Mori Trust provided ¥740m ($6.9m) in funding yesterday for Bit Key, a Japan-based smart lock developer owned by Key Technologies. The startup had previously received $3.1m from Voyage Ventures, advertising technology producer Voyage Group’s corporate venturing subsidiary, in December 2018, four months after it was founded.
UK-based vertical farming technology developer Intelligent Growth Solutions raised £5.4m ($6.8m) in series A funding from investors including agricultural technology media and investment firm AgFunder on Tuesday. VC fund S2G Ventures led the round, which also featured the publicly-owned Scottish Investment Bank, and the cash will fund product development and the strengthening of the company’s software development, engineering, robotics, automation, sales and marketing activities.
Sitateru, the Japan-based operator of a clothing production service, secured an undisclosed amount of series C funding on Wednesday from investors including cybersecurity technology provider Hennge, retail group Marui, textile supplier Yagi and Nippon Steel Trading, a subsidiary of steel producer Nippon Steel. The investors will also bring their expertise in areas such as materials procurement and retail.
Diversified conglomerate Sumitomo and Engie New Ventures, the strategic investment arm of energy utility Engie, joined additional investors including financial group Macquarie Group and merchant bank Turquoise International to invest £5m ($6.3m) in UK-based integrated energy storage system developer Connected Energy on Wednesday. Engie New Ventures and Macquarie Group supplied $4.1m in funding for the company in January 2018, and Turquoise also advised it for the latest round.
Glint Pay, the UK-based operator of a payment system that utilises physical gold, has closed a £5m private placement led by alternative asset management firm Sprott. The company had received $3.9m from exchange operator Tokyo Commodity Exchange and CSV Venture Fund, which was formed by IT services provider NEC Corporation’s NEC Capital Solutions unit and VC firm Venture Labo Investment, in late 2017, having secured $4m from investors including Bray Capital earlier in the year.
GuestReady, the UK-based creator of a platform that helps users more efficiently rent out properties through online channels, has received $6m in a series A round led by VC fund Impulse VC that included VentureSouq, Boost Heroes, Aria Group and 808 Tech Ventures, TechCrunch reported on Monday. The company has now raised $10m altogether, $750,000 of which was supplied by property developer Senn Partner Holdings, Swiss Founders Fund and Georg Bauser in 2016. It added $3m in October 2017.
Nigeria-based motorcycle transport provider Max.ng has secured $6m in series A funding from investors including motorised vehicle producer Yamaha, TechCrunch reported yesterday. VC fund manager Novastar Ventures led the round, which was closed alongside $1m in grants, and which also featured Breakthrough Energy Ventures, Zrosk Investment Management and Alitheia Capital. It has now raised $9m in total, according to TechCrunch, including $1m from unnamed investors in 2016, as indicated by a securities filing.
HqO, the US-based developer of a tenant engagement platform for private property managers, raised $6m last month from investors including property developers DivcoWest and New England Development, law firm Goodwin and Allegion Ventures, the corporate VC arm of home security equipment provider Allegion. Private investors Steve Pagliuca, Gerald Chan, Mike Gordon and Sam Kennedy also took part in the round, which followed $6.6m from investors including DivcoWest, and property services firm JLL’s Spark unit in September 2018.
Medical device maker Terumo Corporation has invested $5m in US-based biomedical therapy system developer Orchestra BioMed through a strategic partnership deal that included a $30m upfront payment. Orchestra had previously raised $41m in a November 2018 round in which SternAegis Ventures was the placement agent, that included the conversion of $23m of debt financing into equity.
US-based automotive finance provider Drive Motors has rebranded to Modal, announcing $5m in funding from car dealership chain Idom as well as Ally Ventures, the VC arm of vehicular finance supplier Ally Financial, and angel investor Peter Thiel. It had closed a $5.2m seed round led by Bullpen Capital and backed by talent agency Emagen Entertainment Group, Y Combinator, Khosla Ventures and Perkins Coie in 2017, and its investors also include Array Ventures and Propel Venture Partners, which was launched by bank BBVA.
Automotive manufacturer Mahindra and Mahindra has paid CHF4.3m ($4.3m) for an 11.25% stake in Switzerland-based crop imaging technology provider Gamaya, as part of a $7.5m series B round. The round included existing investors VI Partners and Icos Capital Management, and it followed $3.2m in series A funding from VI Partners, Sandoz Foundation), Seed4Equity and angel investor Peter Brabeck-Letmathe in 2016, and an undisclosed sum from Venture Kick in 2014.
Coach operator National Express has led a $3.6m series A round for US-based family ride hailing service Kango, and David A. Duke, CEO emeritus of the corporate’s US subsidiary, is joining Kango’s board of directors. The startup, which was formerly known as KangaDo, has not disclosed details of its past funding but its existing investors include Lodestar Ventures and 500 Startups.
Ockam, the US-based developer of a security platform for connected devices and systems, completed a $3.2m seed round last month that included identity software provider Okta last month, it revealed yesterday. Investment holding company SGH Capital and VC firms Core Ventures and Future Ventures also participated in the round, which will support recruitment.
VC fund Augmentum Fintech has invested £2.5m ($3.2m) in Monese, a UK-based mobile bank backed by payment technology provider PayPal and loyalty scheme operator Avios, Finextra has reported. It raised $60m from PayPal, Avios, Augmentum, Kinnevik and investors including asset management group Investec’s INVC Fund in a September 2018 round that took its overall funding to $75.8m. Its earlier investors include Anthemis Exponential Ventures, a vehicle for financial services group MMI Holdings and VC fund Anthemis.
Novi Money, a US-based financial literacy services provider, has received $3m in a seed round featuring financial services firm Freedom Financial Network, Fortune reported on Monday. Runa Capital, Lightspeed Venture Partners, Doberman Forward, M Ventures, SGH Capital, Republic.co and Vectr also participated in the round.
Singapore-based banking chatbot developer Active.ai has added $3m from Innocell, financial services firm Banco Sabadell’s corporate venturing unit, to its series A round, the Economic Times reported today. Vertex Ventures led the $8.3m first tranche of the round, which included online lending platform CreditEase, IDG Ventures, Kalaari Capital and Dream Incubator, in late 2017 following $3m from Kalaari and IDG Ventures the year before.
Photography technology producer Fujifilm agreed on Wednesday to provide ¥300m ($2.8m) in funding for PuRec, a Japan-based regenerative medicine developer spun out of Shimane University. The company is the second in the sector to receive funding from Fujifilm this month, following its investment in Junten Bio.
PetScreening.com, which provides pet assessment services for property managers, has completed a seed round of undisclosed size that included Camber Creek, the corporate venturing vehicle for real estate developer Berman Enterprises. The round was led by Grotech Ventures and backed by fellow VC firm Relevance Capital, and the cash has been earmarked for sales and marketing.
South Korea-based digital education technology provider Jaranda has secured ₩3.1bn ($2.6m) in funding from Kakao Ventures, internet company Kakao’s corporate venturing unit, as well as financial services firms KEB Hana Bank and Woori Bank, D. Camp, Daekyo Investment and 500 Startups, The Investor has reported. It graduated from accelerator Sopoong in March 2017 and raised approximately $790,000 from Kakao Ventures and 500 Startups in August 2018.
Electrical equipment manufacturer Mitsubishi Electric Corporation has invested an undisclosed sum in Singapore-based servo motor producer Akribis Systems. The corporate plans to integrate its products with those of Akribis as it looks to serve the internet-of-things technology market.
Media and e-commerce group Naspers supplied R30m ($2.1m) in funding for South Africa-based cleaning services provider SweepSouth yesterday through its Naspers Foundry unit. The company had previously received an undisclosed amount from Newtown Partners, Africa Angels Network and Identity Development Fund in 2015, and $610,000 from Newtown and Vumela Fund the following year. The investment was the first to be made by Naspers Foundry since it was founded in late 2018.
Brand Capital, media group Bennett Coleman & Co’s ad-for-equity arm, has agreed to invest $2m in Indorse, the Singapore-based developer of a blockchain-powered skills assessment tool for use by recruiters, VCCircle reported on Wednesday. The unit has the option to provide a further $4.5m in funding, and the deal comes after Indorse raised $9m in a September 2017 token sale.
Sweden-based cryptocurrency gift card provider Bitrefill has completed a $2m seed round led by Bitcoin-focused digital media company Coin Ninja that also featured online investment platform BnkToTheFuture, crypto-focused VC fund Fulgur Ventures and angel investor Charlie Lee, CoinDesk has reported. The company has now raised $2.4m altogether from investors that also include Boost VC, according to CoinDesk.
PlanetSpark, the investment arm of electric components supplier Excelpoint Technology, has provided $2m in funding for Singapore-based imaging sensor developer Meridian Innovation, Business Times has reported. Meridian’s thermal imaging technology could be used in smart appliances, safety and security products.
Simreka. a Netherlands-based developer of simulation software for use in manufacturing, has received a seven-figure euro amount (€1m = $1.1m) in a seed round that included SAP.io, the corporate venturing arm of enterprise software provider SAP. The round was led by corporate-backed VC fund High-Tech Gründerfonds and the proceeds will go to product development, sales and marketing.
Maricuru, the Japan-based operator of an online community for brides, secured ¥160m ($1.5m) in funding yesterday from investors including YJ Capital and DG Incubation, corporate venturing subsidiaries of internet companies Yahoo Japan and Digital Garage. The corporates invested alongside VC firm Genesia Ventures, and the cash will go to adding new services and improving marketing.
Japan-based sake brand Wakaze raised ¥150m ($1.4m) in series A funding on Monday from investors including Nissay Capital, the VC arm of insurance firm Nippon Life. The round also featured VC firm Spiral Ventures, family office Nakashimato and angel investors including Yo Nagami, Taku Nagao and Takashi Mitachi. The cash will be used to open a brewery in Paris, France, that will support the company’s international expansion.
E-commerce company Sanwa Company invested an undisclosed sum in Homma, a US-based developer of connected technology for homes, on Tuesday, as part of a deal where the companies will collaborate on the development of smart home products. Homma had previously raised $4.1m from architectural agency KMDW, corporate-backed VC fund B Dash Ventures, Mistletoe, Genuine Startups, 500 Startups Japan, East Ventures, Draper Nexus and various angel investors in 2016.
Revive, the Japan-based operator of athlete engagement platform Vibes, received ¥120m ($1.1m) in funding on Tuesday from investors including mobile game publisher Akatsuki’s Heart Driven Fund. Investment firm Jafco also participated in the round, which will be used to further develop the Vibes platform and add an offering known as Vibes Academy.
Instalimb, a Japan-based company that is using 3D-printing technology to make affordable prosthetics, raised ¥84m ($780,000) on Tuesday from investors including Deepcore, the artificial intelligence investment vehicle formed by telecommunications firm SoftBank. The round also featured VC group Keio Innovation Initiative, and the capital will go to research and development and the establishment of a subsidiary in the Philippines.
Fosun RZ, a corporate venturing vehicle for diversified conglomerate Fosun, has led a $750,000 seed round for India-based human resources automation software startup Kredily, the Economic Times has reported. The corporate was joined by angel investors including Mohit Tandon, a co-founder of logistics service Delhivery, and Avinash Anand, formerly vice-president of engineering for HR software provider Zenefits.
Globant Ventures, the corporate VC vehicle formed by digital consultancy Globant, has provided a total of $500,000 for three Argentina-based companies. The recipients are CamonApp, a developer of augmented reality technology for advertisers, digital cargo services platform AvanCargo and robotic process automation system developer TheEye.
1D, the Japan-based creator of a social network for members of the dental industry, secured ¥35m ($330,000) from dental equipment supplier Feed on Monday. The startup has attracted 8,000 members since the platform launched in July 2018 and the round represents its first external funding.
Digital advertising agency Admitad has invested ₽20m ($320,000) in Russia-based e-commerce customer data technology developer Aplaut, Rusbase reported on Wednesday. The company, which had formerly been known as Shoppilot, will use the financing for product development.
Vogo, the India-based scooter rental service that counts ride hailing platform Ola as an investor, has received an undisclosed amount of funding from angel investors Ananth Narayanan, Manish Vij, K Ganesh and Srini Anumolu through the Stellaris Founder Network, Inc42 reported on Tuesday. The company had raised a total of up to $116m as of January this year, and its existing backers include Stellaris Venture Partners, Kalaari Capital, Matrix Partners India and Pawan Munjal’s family trust.
