Online lending service Lendable has invested $10m in Indonesia-based finance management app developer KoinWorks, DealStreetAsia reported on Monday. KoinWorks received $20m in debt and equity financing last month from Triodos Bank, payment services firm Credit Saison’s Saison Capital unit, Quona Capital and EV Growth, a joint venture formed by East Ventures and corporates Sinar Mas and Yahoo Japan. It followed $29.4m in earlier funding from investors also including financial services firm Bank Mandiri and conglomerate Gunung Sewu.
US-based document analysis software provider ThoughtTrace completed a $10m financing round on Wednesday featuring oil and gas supplier Chevron’s corporate venture capital subsidiary, Chevron Technology Ventures. The round was led by VC fund manager McRock Capital and included VC firm Altira Group, which the company described as an existing investor. The cash will be used to increase headcount and further develop ThoughtTrace’s artificial intelligence technology.
US-based smart lending technology developer LoanSnap has received $10m in a funding round co-led by VC firms True Ventures and Mantis that included diversified conglomerate Virgin Group, Morado Ventures, Work Play Ventures, Accelerator Ventures, Baseline Ventures, Thomvest Ventures, Liquid 2 Ventures, Ovo Fund and unnamed angel investors. It had raised a total of $12.3m as of an $8m series A round in mid-2018 that was led by True Ventures and backed by Virgin, Baseline Ventures, Liquid 2 Ventures, Ovo Fund, Core Innovation Partners, Transmedia Ventures and undisclosed individuals.
US-based document engineering technology developer Docugami closed a $10m seed round featuring writing assistant software provider Grammarly in February this year, Geekwire has reported. VC fund SignalFire led the round, which included NextWorld Capital and undisclosed angel investors. Their participation was reported at the time, though news of Grammarly’s is new.
Automotive component manufacturer Samkee Automotive, home furnishings brand Iloom and financial services firm Shinhan Bank have co-led the second tranche of a series A round for MVLLabs, the Singapore-based owner of ride hailing platform Tada, that is now sized at almost $10m, e27 reported yesterday. SV Investment led the round’s $5m first close in December 2019, participating alongside two other automotive component producers: Korea Central and Simwon.
Enuma, a US-based developer of educational gaming apps, completed a $9m series B round on Monday featuring conglomerate Kuok Group, SK Holdings and Kakao Ventures, respective subsidiaries of conglomerate SK Group and internet company Kakao. The round included YellowDog, SKS PE, Shinhan Alternative Investment and Head Foundation, doubling Enuma’s overall funding to $18m. Its earlier investors include educational services provider TAL Education and SoftBank Ventures Asia, the subsidiary of telecommunications and internet group SoftBank formerly known as SoftBank Ventures Korea.
US-based workplace sensor technology developer VergeSense raised $9m yesterday in a funding round led by security product maker Allegion’s corporate VC unit, Allegion Ventures. The round included JLL Spark, a subsidiary of real estate services provider JLL, as well as Metaprop, Y Combinator, Pathbreaker Ventures and West Ventures. VergeSense graduated from the Y Combinator accelerator in 2017 before securing $1.5m in a late 2018 round led by JLL and backed by Pathbreaker Ventures and Bolt.
Japan-based job-hunting technology developer Roxx secured ¥900m ($8.4m) on Monday in a series A round led by VC firm Global Brain that included Japan Post Capital, postal service Japan Post Capital’s investment vehicle. Roxx said it has now raised $18.6m in total, $1.3m coming from Sumitomo Mitsui Banking Corporation’s SMBC Venture Capital unit, Anri and Skyland Ventures in 2017 – when it was still known as Scouter. It added $3.4m from SMBC Venture Capital and recruitment firm Persol’s Persol Career unit in July 2019, and $4.5m from internet company CyberAgent, SMBC Venture Capital, Mizuho Capital and Mitsubishi UFJ Capital in February this year.
Media and internet group Naspers revealed on Wednesday it has invested R100m ($8.3m) in South Africa-based crop protection product developer Aerobotics through its Naspers Foundry subsidiary. Aerobotics received $610,000 from 4Di Capital and Savannah Fund in 2017 before adding $2m in series A funding in August 2018 from media, data and investment firm AgFunder, financial services firm Nedbank, 4Di and AngelList, and a further $2m in series A cash from Paper Plane Ventures in March 2019.
Data centre operator I-Net Corp has supplied an undisclosed amount of series E funding for Astroscale, a Japan-based provider of space debris removal technology. Astroscale had previously received $132m, closing an $80m series D round featuring Koei Tecmo Capital – part of video game publisher Koei Tecmo – as well as real estate developer Mitsubishi Estate, financial services firms Mizuho Bank, SBI and Sumitomo Mitsui Banking Corporation’s respective Mizuho Growth Fund, SBI AI & Blockchain Fund and SMBC Venture Capital units, Innovation Network Corporation of Japan, Sumitomo Mitsui Trust Investment, aStart, SV4 Investment, UTokyo Innovation Platform and Joe Hirao in April 2019.
Supermarket chain Shufersal has co-led a $7.6m series A round for Israel-based retail marketing app developer Shopic, Calcalist has reported. The round was co-led by VC fund IBI Tech Fund and included Entrée Capital, the VC firm that led Shopic’s pre-seed and seed rounds according to Calcalist, which placed the company’s total funding at $11.4m. The cash will go to research and development as well as a planned expansion in the US and Europe.
Void Technologies, a UK-based advanced materials developer spun off by personal care product maker Kimberly-Clark, has secured £6m ($7.3m) in a funding round co-led by petrochemical producer Sabic’s corporate venturing unit, Sabic Ventures, LondonLovesBusiness reported on Monday. Asset manager Capricorn Partners’ Capricorn Sustainable Chemistry Fund co-led the round, which will support the growth of Void’s laboratory, manufacturing and technology development resources.
Data services and digital media provider Penske Media Corporation has invested an undisclosed amount in event production agency LDJ Productions. The company has not disclosed details of any earlier financing, but it raised the money from Penske as part of a collaboration deal that will involve Penske offering access to its operational experience.
Gupy, a Brazil-based AI-equipped human resources software developer backed by telecoms firm Telefónica, has received R$40m ($6.9m) in funding from technology investment firm Oria Capital, Exame has reported. Gupy was part of the 2016 line up of Telefónica’s Wayra Brazil accelerator before it raised $470,000 from Canary and Yellow Ventures in 2017, and $3m in a January 2019 round led by Valor Capital and backed by Canary and Maya Capital.
Digital media company ByteDance co-led a $6.2m series A round last month for Lingxi, a China-based developer of smart financial services software, with e-commerce holding group Rocket Internet, TechCrunch reported on Tuesday. The round also featured Junsan Capital and GSR Ventures and it came after $270,000 in debt financing from a financial affiliate of an undisclosed large domestic internet company, according to TechCrunch.
Daiz, a Japan-based developer of soybean meat substitutes, raised ¥650m ($6.1m) on Monday in a series A round that included frozen food provider Nichirei Foods and organic vegetable supplier Kajitsudo. The round also featured public-private partnership A-Five, Mitsubishi UFJ Capital and Okasan Capital Partners – subsidiaries of financial services firm Mitsubishi UFJ Financial Group and securities firm Okasan Securities – and it took Daiz’s total funding to approximately $11.2m.
Fountain Therapeutics, a US-based developer of treatments for age-related diseases, completed a $6m series A-1 round on Tuesday led by VC firm Khosla Ventures that included Nan Fung Life Sciences, a subsidiary of property development conglomerate Nan Fung. The company said this week it had previously raised $5m from Nan Fung Life Sciences in May 2018, and that the latest funds will support technology development and executive hiring.
CapBridge, the Singapore-based operator of an online capital syndication platform, has added $2m from SGInnovate and Cyberport Macro Fund to a series A round that now totals $6m, DealStreetAsia reported yesterday. Diversified conglomerate Hanwha provided the first $4m in September 2019 through subsidiary Hanwha Investment & Securities. CapBridge had previously raised $6.7m including $3m from investment holding company Singapore Exchange’s Asian Gateway Investments units and various angel investors in 2017.
Machine tool producer DMG Mori Seiki invested ¥600m ($5.6m) in Japan-based aircraft engine component manufacturer AeroEdge on Tuesday in connection with a strategic partnership agreement. AeroEdge had secured $20.6m in funding from Toyota Tsusho Corporation, the trading subsidiary of carmaker Toyota, as well as leasing services firm JA Mitsui Leasing, financial services firms Mebuki Financial Group and Ashikaga Bank, Development Bank of Japan and Fukuoka Capital Partners in April 2018.
Private equity firm Bain Capital’s Tech Opportunities fund provided an undisclosed amount of funding yesterday for Hudl, a US-based sports performance analysis technology developer backed by student loan services provider Nelnet. Hudl had previously closed a $30m round in 2017 featuring Nelnet, VC firm Accel and Jeff and Tricia Raikes that took its overall funding to $105m, and which followed $72.5m from Nelnet, Accel and Jeff Raikes two years earlier.
US-based supplemental health insurance provider Clara Insurance secured $5.5m yesterday in a seed round featuring reinsurance provider Reinsurance Group of America’s RGAX subsidiary. VC fund Two Sigma Ventures led the round, which included fintech investment holding company SymphonyAI, VC firm Founder Collective and undisclosed other participants.
Agribusiness Acorn Agri & Food has put up a R100m ($5.4m) anchor investment for a fund being raised by South Africa-based agriculture and food technology investor AgVentures. The VC firm, which is not to be confused with the fund launched by Brazil-based VC firm SP Ventures, also disclosed its first investment, in FruitSpec, a developer of crop yield prediction software.
Menxlab, the China-based operator of a men’s health management app, has received “millions of dollars” in a pre-series A round co-led by quantitative trading and technology firm Susquehanna International Group, DealStreetAsia reported on Monday. VC firm Gaorong Capital co-led the round having previously joined GF Xinde Investment to invest an undisclosed amount in Menxlab in February this year.
Automattic, the owner of blogging platform WordPress, provided $4.6m in funding for US-based decentralised communication software developer New Vector on Wednesday to take its overall funding to $18.1m. Cryptocurrency technology provider Status had invested $5m in New Vector in early 2018 before it secured $8.5m in series A funding from Notion Capital, Dawn Capital and Firstminute Capital in October 2019.
Advanced materials manufacturer Nitto Denko supplied an undisclosed amount of funding for US-based conductive ink and film producer C3Nano on Wednesday that represented the first part of a funding round the latter expects to close at $15m. C3Nano completed a $15m series D round in 2017 featuring printing and sensor technology provider Nissha, industrial equipment producer Nagase America, chemicals provider Hitachi Chemical, GSR Venture, Xinjiang Guoli Minsheng Equity Investment and Phoenix Venture Partners that took its total funding to $37m.
Educational robot producer Sphero spun off an emergency services-focused artificial intelligence and robotics software developer called Company Six on Wednesday with $3m from a seed round led by VC firm Spider Capital. The round included Foundry Group and Techstars – both of which are also among Sphero’s investors – as well as GAN Ventures, the investment vehicle for Global Accelerator Network.
Beta Hatch, a US-based provider of insect-based animal feed, completed a series A1 round yesterday that was co-led by agribusiness Wilbur-Ellis through its corporate VC subsidiary, Cavallo Ventures. The round was sized at $3m according to a securities filing, was co-led by VC firm Innova Memphis, and also featured Klein Private Equity Investment and Brighton Jones Investment Partners. It came after $2.1m from Cavallo Ventures, Element 8 Fund, Keiretsu Capital, NQV8 and Frontier Angels in April 2018.
Financial services group Absa has provided an undisclosed amount of funding for South Africa-based stock exchange operator A2X Markets, the latter has disclosed, revealing the investment was made in late 2019. A2X, which has not announced details of previous funding, uses technology to cut costs and markets itself as a cost-efficient venue for share trading.
Japan-based artificial intelligence technology developer Chowagiken closed a ¥300m ($2.8m) funding round on Monday featuring digital consulting firm Cresco, direct marketing agency Fusion and ceramics manufacturer Nikko. The round included Hokuyo SDGs Promotion Fund, which is sponsored by financial services firm North Pacific Bank, and Hokkaido Research Institute For the Twenty-first Century. Chowagiken will use the funds to increase headcount and expand internationally.
Healthcare provider Hackensack Meridian Health supplied an undisclosed amount for EpiBone, a US-based developer of regenerative medicine for skeletal reconstruction, on Tuesday through its Bear’s Den initiative. EpiBone closed $24.3m in funding from 140 investors in February this year according to a regulatory filing, and its existing backers include maritime analytics software provider Solverminds, Breakout Labs, NetScientific, Harnisch Foundation and National Institutes of Health.
Insurance provider Vienna Insurance Group is leading a financing round of undisclosed size for Austria-based cancer immunotherapy and respiratory disease treatment developer Apeiron Biologics, Apeiron revealed on Monday. It had previously raised $29.9m in debt financing from European Investment Bank’s European Fund for Strategic Investments in 2017.
UK-based bicycle insurance provider Bikmo received £1.8m ($2.2m) in series A funding on Tuesday from investors including insurance firm Hiscox. The round, which represents the first external funding for Bikmo, was led by £1m in debt and equity financing from Development Bank of Wales and included undisclosed angel investors. The capital will fund its move to a new head office once Covid-19 lockdown conditions are eased.
Japan-based perovskite solar cell startup EneCoat Technologies secured an undisclosed amount on Wednesday from investors including MMC Innovation, a joint venture between advanced materials producers Mitsubishi Materials Corporation (MMC) and Japan Material Technologies Corporation, the latter through its JMTC Capital subsidiary. The round also featured Kyoto University Innovation Capital, which had previously invested an undisclosed sum in EneCoat in January 2019.
Galapagos, the Japan-based operator of a high-speed marketing service, raised ¥220m ($2m) in pre-series A funding yesterday from investors including educational services provider Globis’s GStartup Fund, insurer Taiju Life’s Sansei Capital Investment unit and Archetype Ventures, a subsidiary of marketing firm Archetype. The corporates were joined by Accord Ventures, GA3 Investment Union and GA4 Investment Union.
Smilegate Investment, a corporate VC vehicle for video game publisher Smilegate, has led a series A round of undisclosed size for Vietnam-based e-commerce management software provider Sapo Technology, DealStreetAsia has reported. Teko Ventures, the VC arm of digital payment technology provider VNLife, also took part in the round having supplied an undisclosed amount of funding for Sapo in 2018. The company (then known as DKT) raised an undisclosed sum from internet company CyberAgent in 2014 through subsidiary CyberAgent Ventures.
Smilegate Investment has also provided an undisclosed amount of pre-series A funding for Hoozing, the Vietnam-based operator of an online platform facilitating rental transactions, e27 reported yesterday. The company, which was founded in 2015, had previously received an undisclosed amount of seed capital from venture studio Expara, according to e27.
Delight Ventures, the VC fund formed by internet company DeNA, joined VC firm Genesia Ventures on Monday to provide ¥200m ($1.9m) in seed capital for Japan-based digital transformation services startup Route06. The cash will support recruitment in addition to research and development, as Route06 looks to strengthen its digital technology resources.
Consumer electronics producer Samsung has invested approximately $1.9m in India-based food delivery service Swiggy to take its total commitment to $7.5m and its stake to 0.24%. The cash increased Swiggy’s series I round, which values it at $3.6bn, to about $158m. It had raised the earlier funding from Samsung subsidiary Samsung Ventures, internet company Naspers’ Prosus Ventures unit, internet group Tencent, local services platform Meituan Dianping, Ark Impact Asset Management, Korea Investment Partners, Wellington Management Company and Mirae Asset Capital Markets.
India-based radiology technology developer DeepTek Medical Imaging has received an undisclosed amount of funding from investors including medical imaging system producer Nobori and NTT Data, the IT division of telecoms firm NTT, VCCircle has reported. GHV Accelerator and Pentathlon Ventures also invested in the round, which came after NTT Data invested an undisclosed amount in DeepTek in October 2018.
University of Tokyo’s UTokyo IPC fund invested $1.4m in Tagcyx Biotechnologies, a Japan-based drug discovery platform developer, as part of a ¥200m ($1.9m) round earlier this month, it revealed on Tuesday. The other participants in the round have not been disclosed but it follows $4.8m from insurer Nippon Life’s Nissay Capital unit, financial services firm Sumitomo Mitsui Banking Corporation’s SMBC Venture Capital vehicle and University of Tokyo Edge Capital (UTEC) in 2016, and $4.6m from SMBC Venture Capital, UTEC and Mizuho Capital in April 2018.
Pharmaceutical firm Taisho Pharmaceutical provided an undisclosed amount of pre-series A funding for Japan-based influenza diagnostic device developer Nanotis on Tuesday. Optical equipment manufacturer Hamamatsu Photonics, VC firm Shizuoka Capital and undisclosed angel investors had previously supplied $400,000 in funding for the company in October 2018.
Kinchaku, a Japan-based mobile wallet technology developer formerly known as Sete Mares, secured an undisclosed amount of funding yesterday from online gifting service Giftee, VC firm GX Partners and FFG Venture Business Partners, the early-stage investment arm of financial services firm Fukuoka Financial Group. The company received an undisclosed amount of seed funding in April 2019 from Miraise, a VC firm that returned for a $410,000 round in September, investing with enterprise software producer Bplats, GX Partners and F Ventures.
Neuron Ventures Fund, a corporate VC vehicle formed by pharmaceutical company Eurofarma, has led a $1.3m round for PsyAlive, the Brazil-based mental health management app developer also known as Psicologia Viva, Latin America Business Stories (LABS) has reported. Healthcare provider Hospital Israelita Albert Einstein, financial services firm Grupo BMG and FespPart are also investors in the company, according to LABS.
Prevent, the Japan-based operator of healthy lifestyle assistance app Mystar, received an undisclosed amount on Wednesday from textile producer Teijin and telecoms firm KDDI, which invested through its Open Innovation Fund. The startup is a spinout from Nagoya University School of Medicine and has formed a business partnership deal with KDDI alongside the round.
Cash handling technology provider Glory has supplied an undisclosed amount for AdInte, a Japan-based developer of retail data analytics technology, on Tuesday. Formerly known as Willie Mobile, AdInte raised $630,000 from Nippon Venture Capital in 2013, $3.7m from quantitative trading firm Susquehanna International Group (SIG)’s SIG Asia Investments unit and MS Capital in 2014, and undisclosed sums from marketing firm Vector, wifi service provider Vision and Mitsukoshi Innovations and Famima Digital One – subsidiaries of retailers Isetan Mitsukoshi and Uni FamilyMart Holdings – in August 2018; from marketing groups Hakuhodo DY and Cross Marketing (through Cross Ventures) three months later; and from stadium operator Tokyo Dome in July 2019.
US-based satellite navigation technology developer Xona Space Systems has raised $1m in seed capital from investors including aerospace engineering services provider Stellar Solutions. VC fund 1517 led the round, which also featured private equity firm Seraphim Capital and VC fund Trucks Venture Capital, and which followed Xona’s participation in the third batch of Seraphim’s Space Camp Accelerator in May 2019.
Freecracy, the Japan-based operator of online job-seeking platform FreeC, received an undisclosed amount of funding on Tuesday from Persol Asia Pacific, a subsidiary of recruitment firms Persol Holdings and Kelly Services’ PersoKelly joint venture. It comes after $140,000 from Digital Hollywood University and angel investors Nobuhiro Morita and Shinichi ‘Efushin’ Fujikawa in August 2018, and $470,000 from marketing technology provider Voyage’s corporate venturing subsidiary, Voyage Ventures, and Assertive Investment in May 2019.
Moulding equipment producer Kikuchi Seisakusho joined Monex Ventures, the VC arm of currency exchange services group Monex, to supply ¥100m ($930,000m) in series A funding for Hachi Tama, the Japan-based creator of smart litter box product Toletta, on Tuesday. Hachi Tama has now raised about $4.7m altogether, including $1.8m in a December 2019 round featuring Monex Ventures, automotive component manufacturer Hatachi Industry, consulting firm Sigmaxyz, Yokohama Capital and Yamaguchi Capital.
Open Cloud, an information and communication technology subsidiary of restaurant operator Kichiri Holdings, secured an undisclosed amount today from recruitment firm MyNavi and financial services firm Mizuho Bank’s VC arm, Mizuho Capital. The deal was connected to a partnership agreement between the companies that involved Open Cloud collaborating with MyNavi subsidiary MyNavi Baito on an online interview platform called ApplyNow.
Telecommunications firm Bharti Airtel has paid an undisclosed sum for a 10% stake in India-based conversational artificial intelligence technology developer Voicezen, the Economic Times reported yesterday. Voicezen received the funding through the Airtel Startup Accelerator Program and Airtel plans to utilise the startup’s technology in its own customer service activities.
Classified listings operator Info Edge has agreed to invest Rs 35m ($460,000) in Fanbuff Esports India, the India-based operator of an online engagement platform for esports, Business Standard reported yesterday. The funding was provided through Info Edge’s IE Venture Fund I vehicle and will support Fanbuff’s growth within India.
Charmeuse Technologies, the India-based owner of textile and apparel data platform developer VastraApp, has secured an undisclosed amount of seed funding from investors including online fashion retailer BlackBerrys, VCCircle has reported. The round was also backed by an investment syndicate on VC platform LetsVenture, and the capital will fund an expansion drive expected to increase the startup’s customer base from about 500 to 5,000.
Cybersecurity software producer Quick Heal Technologies has supplied Rs 20m ($260,000) in funding for Singapore-based networking and wireless technology developer Ray, Hindu Business Line reported today. Quick Heal also invested $300,000 in Israel-based cybersecurity technology provider L7 Defense in October 2019.
Startup accelerator OnRamp Insurance Accelerator has provided $100,000 in series A funding for US-based identity verification software developer Trust Stamp in connection with its participation in the program. Trust Stamp had raised undisclosed amounts from payment services firm Mastercard in January this year, and from blockchain technology provider Emergent Technology Holdings in 2018. Its other investors include Second Century Ventures, SixThirty Cyber and 10Clouds.
Additional reporting by Liwen-Edison Fu.
