Middle East-based retail franchise operator MH Alshaya has invested an undisclosed amount in Noon, the Kuwait-headquartered developer of an e-commerce marketplace that is intended to serve customers across the Middle Eastern region. Noon’s founding investors are entrepreneur Mohamed Alabbar and the Saudi Arabian government’s Public Investment Fund, and the startup plans to launch its platform before the end of 2017.
US-based big data software developer FlyData closed a $4m series A round on Tuesday that included time-measurement device maker Amano Corporation, Nissay Capital, which invests on behalf of insurer Nippon Life, and Mirai Creation Investment Limited Partnership, the investment vehicle backed by carmaker Toyota. FlyData had previously raised $5m, including $1.5m in a 2014 round led by Nissay Capital and backed by Archetype Ventures and CyberAgent Ventures, the corporate VC subsidiary of internet company CyberAgent.
Stanley Ventures, the strategic investment vehicle for toolmaker Stanley Black & Decker, provided an undisclosed amount of funding for US-based smart home security product developer Sunflower Labs yesterday. Sunflower said the investment increased its total funding to $6m and was part of a round that also includes General Catalyst, the VC firm that led its $2.1m seed round in November 2016.
Sankonline, a subsidiary of diversified conglomerate Sanko Holding, has led a $3.8m round for Turkey-based tourist accommodation platform operator Otelz that included Howzat Partners and other, undisclosed existing investors, Tnooz reported on Wednesday. Otelz had previously raised $1.4m from Howzat, investment vehicle TransAsia E-Commerce and angel investors Orkun Tekin, Arshad Ahmed, Mustafa Mert Isik, Genco Alp, Burak Gozalan, Orkun Samioğlu and Vedat Ozsahin in 2015.
France-based organic baby food supplier Yooji raised an undisclosed sum yesterday from Danone Manifesto Ventures, the corporate venturing subsidiary of packaged food provider Danone, as well as industrial group Caravelle and VC fund Capagro. The latter two had combined with Aquiti Gestion to invest approximately $3.8m in Yooji in mid-2015, after the company had secured €1.5m ($1.8m at current exchange rates) the year before.
US-based MRI system developer Promaxo completed a $3.5m series A round led by medical device maker MicroPort Scientific Corporation on Wednesday. Promaxo has received $9m in grants from National Institutes of Health and National Science Foundation, and said the funding, which followed a $1.4m seed round earlier this year, will support the clinical validation of its high-resolution system as it readies a regulatory submission for the machine.
FFG Venture Business Partners and Daiwa Corporate Investment, subsidiaries of financial services firms Fukokoa Financial Group and Daiwa Securities, have joined Nissay Capital, consulting firm Fringe81 and Iwagin Jigyo Souzou Capital to invest ¥380m ($3.4m) in Japan-based enterprise collaboration platform developer Oneteam, The Bridge reported on Monday. Oneteam had previously raised $2.2m from Nissay Capital and CyberAgent Ventures.
Tantalum Corporation, a UK-based connected car technology developer backed by automotive software provider Handysoft, raised £2.5m ($3.35m) from private equity firm Disruptive Capital Investments on Monday and another £1.4m in grant funding from the UK government. Handysoft invested an undisclosed amount in Tantalum in April this year, and the latest funding was secured as Tantalum opened its second US office, in Silicon Valley.
Finnomena, a Thailand-based provider of financial services information for consumers and the operator of a robo advisory service, has received $3.2m in series A funding from investors including telecommunications company Benchachinda, Tech in Asia reported on Monday. The round also featured VC fund 500 Tuk Tuks and Krungsri Finovate, the VC vehicle for financial services firm Bank of Ayudhya, itself a subsidiary of Mitsubishi UFJ Financial Group.
Krungsri Finovate also supplied an undisclosed amount of series B funding for Thailand-based mobile payment processor Omise yesterday. The investment followed $20.4m of equity funding from e-commerce group Ascend Money, financial services firm SBI Holdings, conglomerate Sinar Mas, mobile network True, Golden Gate Ventures, 500 Tuktuks and East Ventures across two rounds, and an initial coin offering in July this year that netted it $25m.
Boost Insurance, the US-based creator of a platform that will link insurance technology startups with more established insurance firms, secured $3m in funding from investors including reinsurance providers State National Companies and Nephila on Tuesday. Norwest Venture Partners, the VC firm funded by financial services firm Wells Fargo, led the round, which also featured IA Capital Group and Greycroft Partners.
Passage.AI, the US-based developer of a chatbot creation platform, emerged from stealth on Wednesday with $3m in seed capital from investors including law firm Gunderson Dettmer. The round also featured Engineering Capital, Storm Ventures, Seabed VC, Milliways Ventures, Array VC, NeoTribe Ventures, Eleven Two Capital and undisclosed angel investors.
AdAsia, the Singapore-based creator of a software platform that connects advertising agencies with brands and ad publishers, has raised $2.5m in funding from news app developer Gunosy and angel investor Hisanori Watanabe, TechCrunch reported yesterday. Investment firm Jafco had provided $12m in series A funding for AdAsia in April 2017, a year after it was founded.
Media company Claverley Group has led a £1.5m ($2m) round for PicFair, the UK-based operator of an online marketplace for photographs, TechCrunch reported on Monday. The round came after PicFair had raised £520,000 in seed capital from angel investors including Alexis Ohanian, Tom Hulme, Duncan and Max Jennings in 2014, and PicFair’s backers also include Force Over Mass and D5 Capital.
Telecom firm Telenor has invested $2m in Picniic, the Canada-based developer of an online platform that enables families to share data and organise group tasks, BetaKit reported on Tuesday. Picniic just released a virtual assistant for its app, and Telenor will assist the startup with its expansion plans, both in the US and internationally.
UK-based legal assessment software startup Libryo has secured $1m in a seed round that included Germany-headquartered energy utility Innogy’s UK Innovation Hub, Tech.EU reported yesterday. Seedcamp, Nextlaw Labs and Force Over Mass also participated in the round, which will support product development and global expansion.
Pitstop, an India-based startup that offers after-sales services for car buyers, has raised $1m in pre-series A funding from investors including vehicle leasing and services provider Goldbell Group, YourStory reported today. VC firm Blume Ventures and angel investors Anurag Srivastava, Shailesh Rao, Amiya Pathak, Rajesh Yohanan and Rahul Garg also contributed to the round.
Eyewear e-commerce brand Lenskart has provided $1m in funding for Ditto, a US-based creator of software that enables users to virtually try on glasses, Times of India has reported. Ditto had previously raised $3m in a 2011 round led by August Capital, the VC firm that returned to participate in a $5m round for Ditto in 2014 that also featured eyewear retailer National Vision.
Engagement and commerce company Capillary Technologies has led a pre-series A round of undisclosed size for India-based online fashion discovery platform developer Fashalot, Inc42 reported yesterday. The round also featured Whiteboard Capital, YourNest Angel Fund and angel investor Rajul Garg, the latter two having co-led a seed round, also of undisclosed size, for Fashalot in April 2016.
Online food ordering platform operator Zomato has invested an undisclosed amount in TinMen, the India-based creator of an online marketplace for home chefs, Forbes India reported on Monday. TinMen had previously received an undisclosed sum from angel network Lead Angels in January 2016 and a similarly undisclosed amount from Mape Advisory, Corvus Ventures, Lead Angels and private investor R. Ramaraj in April 2017.