Diversified trading group Marubeni has supplied an undisclosed amount for an ongoing series C round being raised by China-based smart electric car developer Byton, 36Kr reported today. Byton is targeting a $500m close for the round, which reportedly already includes a $100m investment by automotive manufacturer FAW Group. Its earlier backers include battery manufacturer Contemporary Amperex Technology, retailer Suning, car dealership owner China Harmony New Energy Auto Holding and holding group Fullshare Holdings.
Fetchr, a United Arab Emirates-based e-commerce logistics service provider backed by corporates Majid Al Futtaim, Almajdouie and Kanoo, has secured $10m from unnamed new and existing investors in a bid to stay afloat, Bloomberg reported on Wednesday. It had raised at least $56m as of a $41m series B round in 2017 that valued it at nearly $300m, but the latest deal will involve most of its investors’ stakes being cut to almost zero. Its other backers include Swicorp, NGP Capital, New Enterprise Associates, Iliad Partners, Beco Capital and Venture Souq.
Listening to the Companion, the China-based in-car audio platform formerly known as Koala FM, has received an undisclosed amount of funding from mapping software provider NavInfo, 36Kr reported on Tuesday. The company had pulled in $26m from investors including Legend Capital in 2016 and an undisclosed amount in a January 2018 round featuring One Capital. Its earlier backers also include Bertelsmann Asia Investments, a subsidiary of media group Bertelsmann, as well as DCM and Joy Capital.
Financial services firm Norinchukin Bank has led a ¥1bn ($9.2m) funding round for Japan-based digital transformation technology provider Sun Asterisk on Wednesday. The transaction represents the first external funding to be raised by the company and the round is yet to be closed. Sun Asterisk expects to double the size of the round before it is closed.
Short-term accommodation marketplace Airbnb invested an undisclosed amount in Sweetome, the China-based managed apartment platform spun off from holiday property rental firm Tujia, on Tuesday, 36Kr reported. State-owned real estate and investment holding group Poly Capital provided an undisclosed amount of funding for Sweetome in March 2018, six months before the latter supplied an undisclosed amount of funding for Cozy Living, the property management subsidiary of Canada-based holiday accommodation platform Cozystay.
Canopy, a US-based tax and accounting software provider backed by financial services firm Wells Fargo, disclosed $8m in equity funding and $5m in debt financing on Wednesday, the capital coming from NewView Capital, Pelion Venture Partners and Tenaya Capital. The company had raised a total of $72m as of a round featuring Wells Fargo’s Strategic Capital unit, Tenaya, Nyca Partners, New Enterprise Associates, Epic Ventures, University Growth Fund and Pelion Ventures that closed in May 2018.
Doosan Mecatec, the heat and pressure equipment subsidiary of industrial conglomerate Doosan, provided $7m of series B funding on Tuesday for ReCarbon, the US-based developer of a system that converts greenhouse gases into usable gases like hydrogen. The company has not revealed details of past financing but said it would use the latest funding to commercialise its technology. It operates a commercial plant in the US and a pilot facility in Doosan’s home country of South Korea.
Insurance firm MS&AD has led a $7m funding round for India-based cybersecurity platform developer Lucideus Technologies through its corporate venturing unit, MS&AD Ventures, YourStory reported on Tuesday. The round included debt financing from WTI and it followed a $5m series A round in October 2018 that was led by JC2 Ventures and backed by unnamed angel investors, and $800,000 from unnamed investors across two 2017 rounds.
Skyports, a UK-based company developing an airborne urban transport vehicle, raised £5.35m ($7m) yesterday in a series A round co-led by airport operator Groupe ADP and Deutsche Bahn Digital Ventures, the corporate VC subsidiary of rail operator Deutsche Bahn. They were joined by Levitate Capital, a VC firm the company said had already provided it with an undisclosed amount of seed capital in January 2018.
Educational services provider Sandbox & Co has paid an undisclosed “multi-million pound” (£1m = $1.29m) amount for a majority stake in UK-based children’s television streaming app developer Hopster, Digital TV Europe has reported. Sony Pictures Television, the TV-focused subsidiary of electronics and entertainment group Sony, had invested an undisclosed amount in the company in 2016 before leading a multi-million pound round in April 2018 that included existing backers VentureFounders and Angel CoFund.
Apex.AI, a US-based startup that is developing a robotic operating system for cars, received an undisclosed amount of series B funding yesterday, from investors including Hella Ventures, Volvo Group Venture Capital and InMotion Ventures, respective subsidiaries of auto parts provider Hella and carmakers Volvo and Jaguar Land Rover. The round also featured existing backers Toyota AI Ventures and Airbus Ventures – subsidiaries of carmaker Toyota and aerospace manufacturer Airbus – Canaan and Lightspeed, the latter two having been confirmed as backing Apex’s $15.5m series A in November 2018.
US-based voice intelligence technology developer Oto has raised $5.3m in seed capital from investors including enterprise software producer SAP, Axios reported on Wednesday. The corporate was joined by research institute SRI International and VC funds Firstminute Capital, Interlace Ventures and Fusion Fund.
Furniture retailer Ikea invested an undisclosed amount in US-based returns optimisation technology developer Optoro on Wednesday through a partnership agreement. Optoro had raised a total of $190m in equity financing as of a $75m round in August 2018, from investors including UPS Strategic Enterprise Fund, logistics firm UPS’s corporate venturing unit, as well as Franklin Templeton, Revolution Growth, Generation Investment Management, Kleiner Perkins, Maryland Venture Fund, Tenfore Holdings and Swan and Legend Venture Partners.
MVL, the Singapore-based operator of ride hailing platform Tada, has received $5m in a series A round featuring automotive component manufacturers Korea Central and Simwon, Vulcan Post reported on Tuesday. VC firm SV Investment led the round, the proceeds of which will support growth in the company’s existing markets and further development of the blockchain system its product utilises.
China-based language learning platform developer Micro Language closed a series B round of undisclosed size on Tuesday that included education services provider New Oriental, Sohu reported. Alternative asset manager CDH Investments led the round, which came after a $7.3m series A round in January this year that included both series B participants.
Sweden-based accounting software developer Bokio has secured €4m ($4.4m) in a funding round led by VC firm Creandum that included financial services provider Svea and private investor Chris Adelsbach, Finextra has reported. Creandum led a $3.5m round for Bokio in December 2017 that also featured Svea, Inbox Ventures, angel investors Mattias Miksche and Sophia Bendz and existing backer Chalmers Ventures, after the company graduated from financial services firm Barclays’ accelerator initiative earlier the same year.
Allianz X, insurance group Allianz’s digital investment arm, has joined insurance and financial services firm Debeka, diversified holding company MSG Group and financial services provider Signal Iduna to provide an undisclosed amount of funding for Germany-based insurance services software producer SDA SE Open Industry Solutions. The company has not revealed firm details of its earlier financing but MSG and Signal Iduna were billed as existing investors.
Sporting franchise owner Harris Blitzer Sports & Entertainment has co-led a $3.8m funding round for US-based physical therapy system developer Proteus Motion, SportTechie reported on Tuesday. The round was co-led by David Stern, the former commissioner of the NBA, and it also featured care provider Hospital for Special Surgery and angel investors including Dave Winfield, Chris Capuano and John Kosner. Formerly known as Boston Biomotion, Proteus had raised $1.7m in convertible note financing up to July 2018 according to securities filings.
Australia-based last-mile delivery service Shippit has raised A$5.5m ($3.7m) in debt and equity financing, in a round led by VC firm OneVentures that included Aura Ventures, Tidal Ventures and Equity Venture Partners, Australian Financial Review has reported. Shippit was part of the Southeast Asia branch of consumer goods producer Unilever’s Unilever Foundry accelerator in 2017, and secured $1.6m in a May 2017 series A round led by Aura Ventures and backed by Addventure and RTL Group Investment that took its total funding to $2.2m. It has now raised at least $6.8m overall, according to AFR.
Engie Factory, a subsidiary of energy utility Engie has joined Alaya Capital Partners and Albi Investments to invest an undisclosed amount in Inti Tech, the Chile-based creator of an autonomous solar module-cleaning system. The company’s technology combines robotics and artificial intelligence and utilises a dry cleaning process.
Milize, the Japan-based creator of an artificial intelligence-equipped price analysis system, received ¥330m ($3m) in funding on Monday from Japan Post Capital, postal service Japan Post’s corporate venturing unit, as well as employment information provider DIP Corporation and K & P Partners. It will put the capital towards growing its business.
CMFG Ventures, the VC arm of credit union insurance provider Cuna Mutual, has supplied an undisclosed amount of series A funding for BankBi, the UK-based creator of a financial performance analysis platform, Finextra reported on Monday. The investment is intended to function as a springboard for the company to enter the US.
KitchHike, the Japan-based developer of a social dining app, secured ¥250m ($2.3m) on Tuesday from MTG Ventures, the VC arm of digital entertainment provider Modern Times Group, as well as agriculture research and development firm OpenSauce and VC firm Misteltoe. The cash will be put into recruitment, as the company looks to grow its business development and engineering teams.
NTT Docomo Ventures, mobile network operator NTT’s corporate venturing unit, provided an undisclosed amount of funding for sonic data-transfer technology developer Lisnr on Tuesday. The investment comes in the wake of $14.4m from R/GA Ventures and Intel Capital, respective subsidiaries of advertising group R/GA and semiconductor and data company Intel, as well as Mercury Fund, Jump Capital, Progress Ventures, CincyTech and Serra Ventures, $10m of which was raised in a 2017 series B round.
Area28, the China-based developer of a cloud collaboration platform for video game developers, has completed a $2.15m seed round co-led by e-commerce group Alibaba’s Hong Kong Entrepreneurs Fund and venture studio Vectr, GamesIndustry.biz reported on Monday. The round included Apes Ventures, Bright Success Capital and Ironfire Ventures, and the startup will channel the proceeds into expanding headcount.
Naciel Holdings, a Japan-based provider of retail management and graduate recruitment services, raised ¥190m ($1.7m) today in a round led by Sky-Az Food & Liqueurs Investment Limited Partnership, a joint venture for car dealership owner Sky Group’s Sky Group Investment and Aozora Corporate Investment, a vehicle for Aozora Bank. The round included Sansei Capital and Mizuho Capital, subsidiaries of insurer Taiju Life and financial services firm Mizuho Bank, as well as investment manager Yamanashi Chugin Management Consulting.
Human resources and public relations firm Mynavi has invested an undisclosed sum in Japan-based student internship management service Enrission on Monday through a strategic partnership agreement. The company’s platform facilitates online and offline meetings between students and businesses seeking young members of staff.
One97 Communications, the owner of mobile payment platform Paytm, has provided an amount reported by Press Trust of India on Tuesday to be “upwards of” Rs 100m ($1.4m) in funding for India-based fleet and logistics management platform Infinity Transoft Solutions. Paytm said the deal is intended to enhance its bus payment and ticketing services.
Contract manufacturer Foxconn has supplied RMB10m ($1.4m) in pre-series A funding for China-based women’s underwear brand BerryMelon. The startup uses technology to provide bras catered to a wider variety of women’s breast shapes and sizes than are served by existing manufacturers, and it has formed a partnership with clothing fibre developer Lenzing.
Mandiri Capital, the VC arm of financial services firm Bank Mandiri, has joined VC firm Finch Capital to supply an undisclosed amount of pre-series A funding for Indonesia-based wealth management platform Halofina, the Jakarta Post has reported. Mandiri Capital’s chief executive, Eddi Danusaputro, told the newspaper the round was sized in the $1m to $5m range, and the company’s existing investors include Rekanext and Plug and Play Indonesia.
Alarmbox, the Japan-based developer of an artificial intelligence-equipped credit assessment platform, has raised ¥120m ($1.1m) from investors including financial services firms Ogaki Kyoritsu Bank, Bank of Kyoto and Iyo Bank through their OKB Capital, Kyogin Lease & Capital and Iyogin Capital units respectively. VC firm Nippon Venture Capital also participated, and the company intends to leverage partnerships with regional banks to expand.
India-based cybersecurity technology developer Kratikal has received $1m in pre-series A funding from investors including trading firm Equentia Natural Resources, YourStory reported on Wednesday. Gilda VC, Art Venture and angel investor Rajeev Chitrabhanu co-led the round, which also featured Shangrila Infotech, Artha Ventures, LetsVenture and individual investor Madhusudan Gopinath.
Financial services software supplier Latinia invested an undisclosed amount in Mexico-based mobile banking app developer Flink yesterday. Flink has secured 100,000 customers and is a graduate of the Mexico City fintech edition of accelerator Startupbootcamp, which counts Latinia among its corporate backers.
Torana, the Japan-based operator of toy rental service Toysub, secured ¥100m ($920,000) on Monday from investors including Colopl Next, a corporate venturing subsidiary of game developer Colopl. The round also featured Samurai Incubate and KVP and the cash has been earmarked for marketing, technology development and hiring.
