South Korea-based international remittance services provider WireBarley has raised $10m in a series B round backed by retail technology developer Shinsegae I&C as well as Magna Investment and Dt & Investment. The money will serve to strengthen WireBarley’s offering and drive regional expansion efforts, beginning with Hong Kong next month. The company does not appear to have disclosed earlier funding.
Classplus, an India-based education management app developer backed by digital media company Strive and online publisher Times Internet, has collected $10m in funding led by Alpha Wave Incubation, with participation from RTP Global and Blume Ventures, according to the Economic Times. The deal comes a year and a half after Gree’s venture fund Strive led a $9m series A round that also included Blume Ventures, Sequoia Capital India’s Surge and Spiral Ventures also contributed. It had already obtained $1.6m in a pre-series A round co-led by Gree Ventures and Times Internet in May 2019. The round featured Spiral Ventures and Rising Stars Fund.
NeuroTherapia, a US-based developer of treatments for neurodegenerative diseases, has completed a $8.8m series A round led by Brain Trust Accelerator Fund II, with participation from hospital operator Cleveland Clinic Foundation, Dolby Family Ventures and Alzheimer’s Drug Discovery Foundation. NeuroTherapia is a spinoff from Cleveland Clinic and is working on a treatment for neuroinflammation that is thought to play a crucial role in the progression of neurodegenerative conditions.
France-based medical technology developer Gleamer has raised €7.5m ($8.7m) in a series A round led by XAnge and backed by insurance firm MACSF, Majycc eSanté Invest, Crista Galli Ventures, Elaia, Bpifrance’s Ambition Amorçage Angels and a group of 37 angel investors. Gleamer is working on an artificial intelligence-powered software that helps radiologists make diagnoses. The money will go towards securing regulatory clearing in the US and to develop the technology further.
US-based cloud-based energy analytics software provider Bidgely has procured $8m in funding from CIBC Innovation Banking, the investment arm of financial services firm Canadian Imperial Bank of Commerce. Bidgely previously raised $27m in a series C round in early 2018 backed by energy utilities Eon and RWE.
Israel-based deep learning technology developer DeepCube has completed a $7m series A round backed by Koch Disruptive Technologies, the investment arm of conglomerate Koch Industries, and Nima Capital. The round was led by Awz Ventures and brought DeepCube’s overall financing to $12m, the company said. The cash has been allocated to product development, commercialisation and growing the startup’s headcount.
Endel, a Germany-based developer of a platform to generate personalised sounds to induce sleep or focus, has collected $5m in series A funding, according to TechCrunch, led by True Ventures, with participation from e-commerce firm Amazon’s Alexa Fund, SleepScore Ventures, Techstars Ventures, Impulse Ventures, Plus 8 Equity Partners, Waverley Capital, Target Global and assorted angel investors. Amazon Alexa Fund previously supplied an undisclosed sum to Endel in September 2018 when the company joined its Alexa Accelerator, powered by Techstars.
US-based spice company Spiceology has closed a $4.7m funding round featuring diversified media group Cowles Company, Kickstart Funds III & IV and several individuals, including lead investor Ty Bennett. Spiceology had previously raised some $1.2m in funding, according to regulatory filings. It will use the latest round to upgrade its operations and accelerate its sales and marketing activities.
Singapore-based deep-tissue perfusion monitors developer Pedra Technology has raised $4.7m in a series A round that included two undisclosed medical device manufacturers. The transaction also involved Seeds Capital, the investment arm of Enterprise Singapore, and M&L Healthcare Investments. Pedra will use the money to develop its first-generation system assessing perfusion non-invasively and will launch a clinical program to establish its technology as a new standard of care in the treatment of two conditions affecting the arteries: peripheral arterial disease and critical limb ischemia.
Rediscovery Life Sciences, a US-based developer of a treatment for diuretic resistant acute kidney injury, has closed a $4.5m series B round co-led by Rex Health Ventures and Orlando Health Ventures, respective corporate venturing arms of medical care providers UNC Rex Healthcare and Orlando Health. The company will now launch a phase 2 trial of its proposed therapy. Anita Watkins, director of REX Health Ventures, and Sunil Desai, president of Orlando Health Medical Group, have joined the board. Historical funding details for Rediscovery could not be confirmed.
US-based industrial blockchain network operator Data Gumbo has raised an initial $4m in series B round led by venture capital firm L37, with participation from Equinor Ventures and Saudi Aramco Energy Ventures – respective subsidiaries of oil companies Equinor and Saudi Aramoc. Data Gumbo has now raised a total of $14.8m in funding. Data Gumbo previously raised $6m in series A financing co-led by Equinor and Saudi Aramco in May 2019.
US-based carbon removals marketplace Nori has completed a $4m funding round featuring an undisclosed agribusiness, according to FinSMEs. The round was led by Placeholder and also included North Island Ventures and Tenacious Ventures. Nori previously received $1.3m in pre-seed financing in December 2019. The company’s marketplace enables clients to offset their carbon emissions using cryptocurrency tokens, where one token equals one tonne of carbon.
Exabel, a Norway-based developer of artificial intelligence technology for the financial services industry, has completed a $3.6m third seed round featuring a total of 28 new and existing investors, according to TechStartups. Innovation Norway supplied a loan and grant of undisclosed size in addition to the equity financing. Exabel will now build out its commercial operations in Europe and North America and will seek additional strategic partnerships. The company has now raised more than $12m altogether, having previously attracted $4.7m in mid-2018 in its second seed round backed by automotive and electrical technology producer Sanden, Vatne Equity, Andenæsgruppen, Melesio Capital, Axan Invest, First Partners Holding 5, Holta Invest and LT Invest.
Varinos, a Japan-based developer of a genome analysis technology for infertility treatment, has raised ¥300m ($2.9m) from SMBC Venture Capital and Miyako Capital, respective venture capital vehicles for financial services firm Sumitomo Mitsui Banking Corporation and Kyoto University.
Donut Robotics, a Japan-based developer of smart masks that can produce automatic translations, has raised ¥300m ($2.9m) from machine translation tool developer Rozetta, which pushed its overall funding to $6.2m.
General contractor Nishimatsu Construction has invested ¥200m ($1.9m) in Japan-based electrolyte producer LE System, which represents Nishimatsu’s first investment after forming a $27.7m corporate venturing fund in November 2019. Nishimatsu Construction has supplied roughly $2.8m to LE Systems to date, including $856,000 in 2016. Existing backers Innovation Network Corporation of Japan and electronic components distributor Toa Denki Kogyo also participated last month, which took the latest funding to $6.6m. LE System had also raised $1.8m from energy utility Shikoku Electric Power (Yonden) and $1.8m from petroleum supplier Taiyo Oil in mid-2018.
UK-based fashion recommendation platform Psykhe has raised $1.7m in a seed round led by SLS Journey, the investment arm of luxury fashion distributor MadaLuxe. The round also included Carmen Busquets, John Skipper and Lara Vanjak. Pyskhe recommends clothing to users based on their personal tastes, using artificial intelligence technology.
Ecomedes, a US-based platform that allows construction firms to collect, maintain, discover and compare sustainable building products, has raised $1.5m in a seed round backed by Saint-Gobain Nova, the investment arm of construction materials manufacturer Saint-Gobain, and PivotNorth. Proceeds will drive the development of Ecomedes’ software-as-a-service collaboration and optimisation tools for commercial building applications.
Law firm Gunderson Dettmer has contributed to a $1.1m seed round for India-based workforce management software developer Zuper. The round was led by Prime Venture Partners and also included Gemba Capital. Zuper will now double down on its expansion activities in North America, the UK and Southeast Asia, with the money also supporting recruitment in India and the US.
China-based business security software provider Trusfort Technology secured a nine-figure yuan (RMB100m = 952,000) in a series C-plus round featuring technology and trading firm Susquehanna International Group (SIG) on Tuesday. Private equity firm Cathay Capital led the round, which came in the wake of the company’s initial $44.4m series C tranche closed in January 2019 that was led by CBC Capital, and included SIG China, Yunfeng Capital and Redpoint China Ventures. Trusfort was founded in 2015 and its identity authentication technology caters to company mobile devices that store employees’ biometrics, thwarting cyberattacks and frauds. The system uses big data and cloud to encrypt the sensitive information. The proceeds will go to conducting technology research and development, raising brand awareness, boosting sales and building an ecosystem around Trusfort’s services.
Shankeshwar Technologies, the investment arm of real estate group Shankeshwar, has invested $750,000 in angel funding in India-based conversational artificial intelligence technology developer GenieTalk, according to YourStory. The deal valued GenieTalk at $10m. The company will now continue building a software-as-a-service platform that enables businesses to create customised AI-powered virtual assistants.
Fools, the Japan-based owner of footwear brand Grounds, has raised ¥56m ($531,000) from fashion brand Harizury, investment firm Yosemite, private investor Ayatarō Nakagawa and an undisclosed company. Fools had raised $291,000 from venture capital firm Now, angel investors Yuki Naitō, Yūsuke Satō and Yū Akasaka in August 2019.
Every Plus, a Japan-based operator of a business support platform for nursing care facility’s recreation activities, has raised ¥50m ($474,000) from Monex Ventures and Shizuoka Capital, investing on behalf of currency exchange provider Monex and financial services firm Shizuoka Bank.
Traton Group, the heavy truck subsidiary of carmaker Volkswagen, has acquired a minority stake in US-based self-driving truck producer TuSimple as part of a strategic partnership to develop autonomous trucks, according to TechCrunch. Financial terms have not been disclosed and it is unclear whether the deal also included benefits in-kind. Traton’s investment is not part of TuSimple’s ongoing efforts to raise a $250m series E round, though it has an option to join that round. TuSimple most recently completed a $215m series D round in September 2019 backed by automotive component manufacturer Mando and UPS Ventures, the corporate venturing unit owned by logistics group UPS, as well as alternative asset manager CDH Investments.
Energia Creation Lab, a corporate venturing subsidiary formed by energy utility Chugoku Electric Power, has invested an undisclosed sum in optical frequency comb technology developer Xtia (formerly OptoComb). This represents Energia’s second deal since it was formed in April 2019. The company had raised ¥1.7bn ($15m) from imaging technology producer Nikon, industrial sewing machine maker Juki, conglomerate Sojitz and public-private partnership Innovation Network Corporation of Japan in February 2020.
Japan-based human resources and government technology developer Hab&Co has raised an undisclosed amount of funding from Howa Entrepreneurial and Business Succession Support Fund, a vehicle formed by financial services firm Howa Bank and venture capital firm Future Venture Capital. This represents the fund’s first investment since it was launched in June this year. The company had received another undisclosed amount in a pre-series A round featuring VC firms GxPartners and Miraise and investment fund FGN AbbaLab in July this year. GxPartners had already participated in the company (then known as Shiraha)’s ¥30m ($277,000) seed round the year before, investing alongside Oita Venture Capital, the VC arm of financial services firm Oita Bank, and assorted angel investors.
India-based artificial intelligence-powered telephony analytics platform Waybeo has received an undisclosed sum from telecommunications firm Bharti Airtel. Waybeo will put the capital towards scaling up its cloud-based product.
Golden Education, a China-based professional training services provider already backed by recruitment service 51Job and education services firm New Oriental Education and Technology, has added Tencent Investment, the corporate venturing arm of internet group Tencent, to its shareholders following its lead investment in a round of undisclosed size. Loyal Valley Capital and Hundreds Capital filled out the round, which will allow Golden Education to bolster its offering. Golden Education previously received $115m in series C funding in late 2018.
Indonesia-based payment processing platform OY has picked up an undisclosed amount of funding from MDI Ventures and CentrItal Capital Ventura, respective units for telecoms firm Telkom Indonesia and financial services firm Bank Central Asia. The round actually occurred in late 2019, but was only uncovered by DealStreetAsia this week. It also featured Agaeti VC, Wavemaker Partners and Pavilion Capital.
– Additional reporting by Liwen-Edison Fu
