China-based chipmaker Huaxing IC has raised $10m from investors including internet group Baidu and consumer electronics manufacturer Lenovo, which provided its share through its Lenovo Capital and Incubator subsidiary, EastMoney has reported. The corporates were joined by Shenzhen Venture Capital and Angel Wheel, and the funding followed rounds of undisclosed size for the company in 2014 and 2015.
Investors including insurance firm Ping An’s Global Voyager Fund and Chinese government-owned investment group Citic have supplied an undisclosed amount of series B-plus funding for Airdoc, a China-based provider of smart healthcare technology, VCBeat reported yesterday. Internet company Sogou had made a series A investment in Airdoc before returning for a series B round of similarly undisclosed size that was led by conglomerate Fosun Group in April 2018, according to China Money Network.
STC Ventures, the venture capital fund anchored by telecommunications company Saudi Telecom, has co-led an $8m round for United Arab Emirates-based insurance and financial product comparison platform Yallacompare with VC firm Wamda Capital. The round included Argo Ventures, a corporate venturing subsidiary of insurance provider Argo Group, and came after a $3.5m round featuring STC Ventures, Wamda Capital, Dubai Silicon Oasis Authority and Saned Partners in mid-2017, back when the company was still known as Compareit4me.
Optum Ventures, the strategic investment arm of healthcare management technology producer Optum, invested an undisclosed sum in US-based behavioural health platform developer AbleTo on Tuesday. The funding closed a series D round featuring health insurer Aetna’s Aetna Ventures unit, care provider Horizon Healthcare Services, Bain Capital Ventures, .406 Ventures, Sandbox Industries and HLM Venture Partners that stood at $36.6m as of September 2017. Optum’s contribution could have been $8.5m according to a June 2018 securities filing.
Cynerio, the Israel-based creator of a cybersecurity software product designed for the healthcare industry, closed a $7m funding round on Wednesday that included RDC, the investment vehicle formed by defence systems producer Rafael and technology holding company Elron. The round also featured VC firms Accelmed and MTIP, and the capital will support Cynerio’s expansion in North America.
InnerChef, the India-based operator of an online food review and delivery platform, has secured $6.5m in a pre-series B round featuring media group Bennett Coleman & Co’s Brand Capital unit, the Economic Times reported on Tuesday. Mistletoe, Das Capital, M&S Partners and Saha Capital also participated in the round, the first three having been among the investors that had previously supplied a total of $6m for InnerChef across three earlier rounds.
Bridge, the US-based provider of management software for financial portfolios, raised an undisclosed amount yesterday in a series A round that included financial services firm UMB Bank’s corporate venture group. Fintop Capital and MissionOG co-led the round, which followed $700,000 in equity funding from an undisclosed investor in November 2018 according to a securities filing. The company had previously received $720,000 in 2016 and a further $700,000 in a round that closed in April 2018 according to other filings.
Electronics and healthcare equipment producer Philips led a $6m financing round on Monday for Babyscripts, the US-based developer of an obstetrics care management platform. The round included StartUp Health and NueCura Partners, and it took Babyscripts’ overall funding to $13.6m, following a $5.7m round in mid-2017 featuring Aurora Health Care Ventures, a subsidiary of care provider Aurora Health Care, as well as drug producer Chemo Group, Ysios Capital, CG Health Ventures and P5 Health Ventures.
Healthcare management technology provider Change Healthcare invested an undisclosed amount in MDsave, a US-based developer of medical payment software, on Monday. MDsave had previously raised approximately $23.9m in equity financing and $2m in debt through June 2018, from investors including Echo Health Ventures, the CVC vehicle for corporates Cambia Health and Blue Cross and Blue Shield of North Carolina, as well as Harpeth Ventures, MTS Health Investors and WindRose Health Investors, according to press releases and regulatory filings.
UK-based bionic limb producer Open Bionics raised approximately £4.7m ($5.6m) yesterday in a round that included £1.5m from Foresight Williams Technology EIS Fund, the investment vehicle for automotive technology manufacturer Williams Group. The round also featured £1.5m investments from Downing Ventures and Ananda Impact Ventures as well as cash from Rathbone Nominees, and the company’s earlier backers include Rewired and entertainment producer Walt Disney, which invested when Open Bionics took part in its Disney Accelerator.
Canada-based carbon capture technology developer Carbon Engineering received an undisclosed amount of funding on Wednesday from Oxy Low Carbon Ventures and Chevron Technology Ventures, respective subsidiaries of petroleum suppliers Occidental Petroleum Corporation and Chevron. The company, which was founded in 2009, had previously secured $8.3m in convertible loan bridge financing in July 2018, from a mix of employees and undisclosed additional investors.
Apparel and footwear retailer Foot Locker has provided $3m of seed funding for US-based children’s footwear brand Super Heroic. The investment will be added to the $7m in seed capital the company received from Playground Ventures, Accel, Up2398 and retired basketball professional Magic Johnson in August 2017, and Foot Locker will become the first offline retailer to sell its shoes as part of the deal.
EV Growth, a joint venture between conglomerate Sinar Mas, internet company Yahoo Japan and VC firm East Ventures, has led a series C round of undisclosed size for Indonesia-based digital media company IDN Media, Tech in Asia reported on Tuesday. The round included True Digital & Media Platform and Line Ventures, respective subsidiaries of conglomerate CP Group and messaging platform Line, and follows earlier funding from entertainment provider MNM Creative, North Base Media, GDP Ventures, Central Exchange and East Ventures.
Bó, the digital bank created by financial services firm Royal Bank of Scotland, paid £2m ($2.6m) for a 25% stake in Loot, the UK-based provider of a financial services offering tailored for students and young users, the Financial Times reported on Monday. Loot had previously raised a total of £6m as of a $2.9m round in December 2017 led by Portag3 Ventures, the VC arm of financial services provider Power Corporation, and backed by Speedinvest, and its earlier investors include Global Founders Capital.
US-based risk analytics software developer Cedar Gate Technologies received an undisclosed amount of funding on Monday from Ascension Ventures, the VC firm backed by 13 healthcare systems including Ascension. Cedar Gate had been founded by Ascension Ventures and private equity firm GTCR in 2014.
Senior citizen-focused telehealth technology producer Forefront Telecare completed a series A round of undisclosed size on Tuesday that included Ziegler Link●Age Fund, the strategic investment fund backed by senior services provider Link-Age. The round was led by VC firm Spring Lake Equity Partners and followed approximately $660,000 in funding from unnamed investors in 2011 according to a regulatory filing.
Telecommunications and internet group SoftBank has co-led a $2.1m funding round for Indonesia-based investment app developer Ajaib through its SoftBank Ventures Asia subsidiary, Tech in Asia reported last week. The round was co-led by Y Combinator, Alpha JWC, Insignia Ventures Partners and an undisclosed private investor, DealStreetAsia reported on Monday this week.
KoinWorks, an Indonesia-based peer-to-peer lending marketplace backed by financial services firm Bank Mandiri and diversified conglomerate Gunung Sewu, has secured an undisclosed amount of funding from non-profit organisation Accion’s Frontier Inclusion Fund, DealStreetAsia reported on Monday. Gunung Sewu, Bank Mandiri’s Mandiri Capital Indonesia unit and VC firm Convergence Ventures had previously combined to provide $15.8m in series A funding for KoinWorks in August 2018.
WhereIsMyTransport, a South Africa-based travel data and journey planning platform developer backed by aerospace and transport equipment manufacturer Bombardier, has received approximately $1.9m in funding from Liil Ventures and Goodwell Investments, IT News Africa reported yesterday. Bombardier had joined Goodwell and Global Innovation Fund to invest $1.5m in the company in June 2017, after it had raised $1.6m from Goodwell, Omidyar Network and Horizon Ventures the year before.
Pricebook, the Indonesia-based operator of a discovery service for consumer technology, has raised an undisclosed sum in a round led by Mirai Creation Fund II, which is funded by carmaker Toyota, financial services firm Sumitomo Mitsui Banking Corporation and asset manager Sparx, E27 reported on Monday. KLab Venture Partners also participated in the round, which follows an undisclosed amount from KLab, Global Brain, IMJ Investment Partners and angel investor Hiro Mashita across three earlier rounds.
Cemex Ventures, the strategic investment arm of building materials supplier Cemex, has led a $1.5m seed round for StructionSite, the US-based creator of a smart construction management software platform. Construction firm Obayashi Corporation, WND Ventures, Social Starts and undisclosed angel investors also took part in the round, which will support the expansion of StructionSite’s engineering and customer success teams.
Merck Global Health Innovation Fund, a corporate venturing vehicle for pharmaceutical firm Merck & Co, joined TT Capital Partners, an investment arm of healthcare merchant bank TripleTree, to provide an undisclosed amount of funding for Clinithink, a UK-based creator of healthcare-focused natural language processing technology, on Tuesday. The company had previously raised a seven-figure sum from Vanguard Atlantic and Finance Wales in 2012 before adding an undisclosed amount from the same investors two years later.
Digiteal, a Belgium-based provider of digital payment and invoicing technology, has raised just over €1m ($1.1m) in equity and debt financing from investors including interactive technology provider Novalia, EU-Startups reported yesterday. Crowdfunding equity platform Spreds also participated in the round, along with the European Union’s EASI and LeanSquare, both of which backed the round as existing investors.
Zan Compute, the US-based developer of a smart management system for washrooms, secured more than $1m in seed funding on Wednesday from investors including washroom equipment supplier Bobrick. The round included undisclosed strategic partners and angel investors, and Bobrick intends to partner Zan on the provision of intelligent washroom facilities.
WeFit.vn, the Vietnam-based operator of an online platform that provides access to fitness and personal care services, has received $1m in pre-series A funding from internet company CyberAgent, KBInvest and unnamed angel investors, DealStreetAsia reported on Wednesday. ESP Capital had previously supplied $155,000 for WeFit, which will put the latest funding toward product development and market expansion, in 2017.
