Japan-based money management app developer Moneytree received an undisclosed amount of series C funding from investment and financial services group Fidelity on Tuesday it said took its total funding to about $29m. It had raised $9m in a 2017 series B round featuring Salesforce Ventures, SBI Investment, Mizuho Capital, SMBC Venture Capital, Hiroshima Venture Capital and Fukuoka Technology Partners – subsidiaries of enterprise software provider Salesforce and financial services firms SBI, Mizuho Bank, Sumitomo Mitsui Banking Corporation, Hiroshima Bank and Fukuoka Financial Group – as well as Senshu Ikeda Capital and Baillie Gifford.
US-based language learning app developer Duolingo has secured $10m in funding according to a regulatory filing, and TechCrunch reported on Monday that the money came from growth equity firm General Atlantic. It invested at a higher valuation than the $1.5bn at which Duolingo raised $30m from internet technology group Alphabet’s CapitalG unit in a December 2019 series F round. That round boosted Duolingo’s total funding to $138m and its existing investors include Drive Capital, Union Square Ventures, New Enterprise Associates and Kleiner Perkins.
Saison Capital, the strategic investment arm of payment services firm Credit Saison, has led a $10m series A round for Singapore-based alternative online investment platform Helicap, co-founder and chief executive David Z. Wang told DealStreetAsia on Tuesday. East Ventures, Access Ventures, Lamivoie and unnamed individuals also took part in the round, which followed $1.5m from angel investors in May 2018 and a $5m pre-series A round co-led by East Ventures and property developer Soilbuild Group Holdings four months later.
Windesco, a US-based provider of software that optimises the performance of wind turbines, completed a $10m series B round on Wednesday led by private equity firm Wave Equity Partners that included an affiliate of power producer Tenaska. The company had previously received $2.1m in a 2016 series A round featuring industrial technology producer Phoenix Contact’s investment arm, Phoenix Contact Innovation Ventures, and Rusheen-RWE Commercialisation Partners, a joint venture by energy utility RWE and private equity firm Rusheen Capital Management.
Israel-based material science and nanotechnology developer Gauzy has raised $10m from automotive manufacturer Hyundai, adhesive material producer Avery Dennison and venture capital firm BlueRed Partners. Gauzy had secured $350,000 from angel investors before it added $5m in a 2013 round led by Sollange Investments and $7m in a round led by Lazarus Fund three years later.
Boohee, the China-based creator of a health management app, has closed a series C round of undisclosed size featuring Qualcomm Ventures, the investment arm of mobile chipmaker Qualcomm, and diversified conglomerate Fosun, DealStreetAsia reported on Monday. DCM Ventures, Morningside Venture Capital and Zero2IPO Capital also took part in the round, which came after an undisclosed amount of series A funding from Morningside in 2011 and an eight-figure dollar sum in a 2014 series B round backed by Qualcomm, DCM and SIG Asia, on behalf of quantitative trading firm Susquehanna International Group.
Nasadiya Technologies, the India-based owner of online self-publishing platform Pratilipi, has secured Rs 707m ($9.4m) in a series C round led by internet group Tencent, VCCircle reported yesterday, citing a regulatory filing. Media company Bennett Coleman & Co. Omidyar Network, Shunwei Capital and Nexus Venture Partners also took part in the round, which boosted the company’s overall funding to almost $30m. It had raised $15.1m from Qiming Venture Partners, Nexus Venture Partners, Omidyar Network India, Shunwei Capital, Contrarian Vriddhi Fund and WEH Ventures in June 2019.
Singapore-based vegetarian food producer Growthwell received $8m on Monday from investors including marketing technology provider Brandify, DealStreetAsia reported, citing a company statement. State-owned investment firm Temasek led the round, which also featured DSG Consumer Partners, Insignia Ventures, Genesis Ventures and private investor Koh Boon Hwee. The cash will support geographic expansion and the strengthening of its alternative protein product range.
Tencent’s music streaming subsidiary, Tencent Music Entertainment (TME), invested an undisclosed amount in Radio Music Warehouse, a China-based company that provides music streaming services to business clients, on Monday. The deal gives TME the option to acquire a controlling stake in Radio Music Warehouse and it will also distribute the company’s content through a partnership agreement.
TransFicc, a UK-based provider of connectivity technology for financial markets, closed a £5.75m ($7.2m) series A round yesterday featuring financial services firms HSBC, Citi, Commerzbank and ING, the latter two investing through corporate venturing units Main Incubator and ING Ventures. The round was led by AlbionVC, the technology investment arm of investment manager Albion Capital, and also backed by Illuminate Financial and The FinLab. The company had received $1.2m from Main Incubator and Illuminate Financial in 2017, and an undisclosed amount from Citi in August 2018.
Singapore-based relocation services provider Moovaz raised $7m on Monday in a series A round that included existing debt converted into equity. Although the startup did not specify the participants in the round, it named supply chain services firm YCH, Quest Ventures and SGInnovate as investors and said the funding will support increasing headcount and launching in new countries. It had received $1m from family office Mojo Partners and unnamed angel investors in June 2018 and an undisclosed sum from Hustle Fund in January 2019.
US-based property and casualty insurance brokerage Covered by Sage completed a $6m seed round on Tuesday featuring fintech startup services provider Treasury. The round was led by NFX and included Tectonic Capital, Metaprop, Blue9 and unnamed angel investors. The company said it had previously raised an undisclosed amount of pre-series A funding in 2018 from Tectonic Capital and one of the co-founders of mobile dating app developer Tinder.
Gapless, the Germany-based developer of a blockchain-focused vehicle management platform, closed a €5.5m ($6m) seed round on Wednesday led by FinLab EOS VC Fund, a joint venture between smart contract platform developer Block.one and startup accelerator FinLab. Automotive manufacturer Porsche and family office La Roca Capital also took part in the round and were identified as having first invested in the company in 2018. It is a graduate of Startup Autobahn, the Plug and Play-powered accelerator backed by Porsche.
Tinvio, a Singapore-backed consumer order-management platform by e-commerce holding company Rocket Internet, received $5.5m from Sequoia Capital’s Surge fund, Partech Partners and Global Founders Capital, the VC fund formed by Rocket Internet’s founders, on Monday. The round brought the company’s overall funding to $6.5m and the proceeds will fund its entry into more cities.
Vietnam-based mobile game publisher Funtap has raised an amount estimated by industry insiders to be between $5m and $6m in series A funding from investors including mobile game developer Colopl and testing and certification services provider DT&C, through subsidiaries Colopl Next and DT&Investment, DealStreetAsia reported on Wednesday. Makers Fund led the round, which also featured Soulbei, the investment firm that had previously invested $300,000 in Funtap in 2018.
US-based personalised nutrition product supplier Panaceutics has completed the first tranche of a committed $5m series A round led by health, nutrition and materials technology provider DSM through its corporate VC subsidiary, DSM Venturing. The close also featured The Launch Place, Hatteras Venture Partners, VTC Innovation Fund and CIT Gap Fund. DSM Venturing was already an investor in Panaceutics when the companies formed a collaboration partnership in April 2019.
Tata Capital, the corporate venturing subsidiary of diversified conglomerate Tata & Sons, has provided $5m in funding for US-based application cybersecurity software provider Indusface, Hindu Business Line has reported. It intends to use the proceeds from the investment, made through the unit’s second growth fund, for product development and customer acquisition.
Corsight AI, an Israel-based facial recognition software developer spun off by computer vision software producer Cortica Group, has received $5m in a funding round led by VC fund AWZ Ventures. The capital will go to marketing and product development, and the company touted the potential of its technology to identify people in masks breaking quarantine orders associated with Covid-19.
Financial services firms Danske Bank and DNB have supplied €4.6m ($5m) in funding for Nordic API Gateway, the Denmark-based developer of an open banking platform, EU-Startups has reported. The round boosted the company’s total funding to $14.4m according to EU-Startups, and it comes after $2.9m from DNB in May 2018 and $1.5m from Danske Bank seven months later.
Plantible Foods, a US-based startup developing a protein generated from aquatic duckweed, has raised $4.6m from investors including Eighteen94 Capital, packaged food producer Kellogg’s corporate venturing unit, Vegconomist reported on Monday. VC studio Vectr Ventures and VC firm Lerer Hippeau co-led the round, which also featured VC fund FTW Ventures. It was designated as a series A round by Bloomberg, which reported it was closed in late March, and it followed $500,000 in October 2018, according to a securities filing.
Roofing and waterproofing equipment manufacturer Standard Industries Group led a $4.5m funding round for US-based pressure sensor producer Superior Sensor Technology yesterday through its corporate venturing fund, 40 North Ventures. Superior’s products are used in industrial, medical and heating, ventilation and air conditioning equipment, and it will utilise the capital in beefing up its sales, marketing and product development activities.
Canada-based plastics-recycling technology developer Pyrowave completed a series B round of undisclosed size yesterday that was co-led by tire manufacturer Michelin through its Michelin Ventures vehicle. VC firm Sofinnova Partners co-led the round, which included cleantech VC fund Ecofuel and which followed a $2.4m grant from Sustainable Development Technology Canada in January this year. Pyrowave had raised $220,000 in convertible note financing from Foresight Clean Technology Accelerator and BDC Capital in 2014.
UK-based finance management app developer Snoop has received £3.2m ($4m) in a seed round led by Lloyd Dorfman, the founder of currency exchange service Travelex, and backed by Salesforce subsidiary Salesforce Ventures and investment vehicle Havisham Group, AltFi reported on Wednesday. The latter two had previously supplied an undisclosed amount for the startup in October 2019 and it intends to pursue series A funding later this year.
Japan-based heart failure therapy developer Metcela closed a ¥430m ($4m) round last month that included electronics producer Sony’s Innovation Fund, medical device maker Japan Lifeline, Tsukuba Exceed Fund and financial services holding company Mebuki Financial Group’s Joyo Bank and Joyo Industrial Research subsidiaries, it revealed on Tuesday. It had raised $8.2m in equity and grant funding as of a $4.6m series A round in September 2018 led by Beyond Next Ventures and backed by Japan Lifeline, Sony Innovation Fund, insurer Dai-ichi Life, science park KSP, and Eight Road Ventures Japan and F-Prime Capital – both vehicles for Fidelity.
Infostella, the Japan-based owner of a ground station sharing network for satellite operators, secured ¥380m ($3.6m) yesterday from aerospace manufacturer Airbus, electronics producer Sony and financial services firm Mitsubishi UFJ Financial Group, through subsidiaries Airbus Ventures, Sony Innovation Fund, Mitsubishi UFJ Capital and Mitsubishi UFJ Leasing, as well as brokerage Daiwa’s Energy Infrastructure unit. It had raised a total of $7.8m as of a $7.3m round in 2017 featuring Airbus Ventures and Sony Innovation Fund.
Yamaha Motor Ventures & Laboratory Silicon Valley, the business development and investment vehicle for motorised vehicle producer Yamaha Motor, co-led a $3.3m seed round yesterday for Strella Biotechnology, a provider of supply chain data for fresh produce. The round was co-led by AI-focused VC fund Catapult Ventures and also featured Union Labs and Red & Blue Ventures. Strella plans to utilise Yamaha’s expertise as it further develops its technology.
Green property consulting firm Green Generation invested an undisclosed amount in US-based smart-building software developer Datakwip on Tuesday through corporate VC subsidiary GreenGen Ventures. The unit is also taking a board adviser position at Datakwip, which said its investors also include Tedco, University of Maryland’s Momentum Fund and Chesapeake Bay Seed Fund.
Bonx, the Japan-based developer of an online communication tool, closed a ¥310m ($2.9m) series C round on Monday featuring IT services firm TIS, electronics manufacturer Kaga, trading group Kanematsu, Keio Innovation Initiative (KII), Innovation Engine and Hack Ventures. The company had previously raised $10m across three rounds between 2017 and July 2018, from Kaga, KII, adtech provider Adways, office equipment manufacturer Ricoh, acoustics technology producer Rion, Sansei Capital, Mitsubishi UFJ Capital, Edge Labs and INCJ’s IP Bridge unit.
Xampla, the UK-based developer of a plant protein-based microplastics substitute, raised £2m ($2.5m) on Tuesday from investors including broadcaster Sky’s impact investment fund, Sky Ocean Ventures. The round was co-led by Amadeus Capital Partners and Cambridge Enterprise and was also backed by University of Cambridge Enterprise Fund VI. The startup was spun out of University of Cambridge in 2018.
Liberaware, the Japan-based developer of a small-scale drone for industrial use, received $2.4m on Monday from NEC Capital Solutions, a subsidiary of IT services firm NEC Corporation, as well as Kyoto University’s Miyako Capital unit and VC firm Drone Fund to increase its series B round to ¥550m ($5.1m). NEC Capital Solutions and Venture Labo Investment backed the September 2019 first tranche, which followed an undisclosed sum from Drone Fund, mobile game developer Orso and drone technology provider Aerial Lab Industries in February 2018, and $1.2m from Drone Fund and financial services firm Fukuoka Financial Group’s FFG Venture Business Partners unit in April 2019.
Construction firm Hinokiya Group and private equity firm Mercuria Investment provided an undisclosed amount on Tuesday for Style Port, the Japan-based creator of virtual property-viewing platform Roov. The company raised $2.3m from Strive, the subsidiary of digital media company Gree then known as Strive, in January 2018 before adding $3.6m in a December 2018 round featuriing Strive and Mizuho Capital, the VC arm of financial services Mizuho Bank, and debt financing from Mizuho Bank, Resona Bank and Japan Finance Corporation.
Mental Health Technologies, the Japan-based operator of a cloud platform that links users to mental health services, secured ¥240m ($2.2m) from Aflac Ventures, the investment arm of medical insurance provider Aflac, as well as office services provider S-Pool, medical staffing firm Krasys, Fast Track Initiative (FTI) and unnamed companies and private investors. FTI had supplied $1.4m for the company in 2017 before joining Monex Ventures, a subsidiary of currency exchange service Monex; Intage Open Innovation Fund, a joint venture between market researcher Intage and financial services firm SBI; IT services firm Evolable Asia; and Mizuho Bank, Sumitomo Mitsui Banking Corporation and Kiraboshi, which provided debt financing, in a $2.2m round in November 2018.
Props, the US-based creator of a financial rewards tool for participation, generated $2m in token-sale financing yesterday from investors including dating app operator Dating.com Group. VC firm Union Square Ventures led the financing, which was also backed by Borderless Capital, GSR Ventures, Lvna Capital, Spice VC and CoinFund. Props said when announcing the transaction that its backers also include Comcast Ventures, the investment arm of mass media group Comcast, as well as Venrock and Zeev Ventures.
Diversified conglomerate Sumitomo has supplied an undisclosed amount of series A-plus funding for China-based cold-chain logistics services provider Minima Technology through Sumitomo Corporation Equity Asia, DealStreetAsia reported yesterday. Minima had received an undisclosed amount of funding from logistics centre operator GLP in 2016 and its other investors include storage shelf manufacturer Nanjing Inform Storage Equipment, Innoangel Fund and ZRC Capital, according to DealStreetAsia.
VC firm Anri invested ¥200m ($1.9m) in Vark, the Japan-based virtual reality entertainment platform formerly known as ActEvolve, yesterday. Vark raised undisclosed amounts from angel investors last month, VC firm Now in December 2019, and from Genki Shiota and subsidiaries of e-commerce platform Crooz and financial services firm Mitsubishi UFJ Financial Group in 2018, in addition to $1.9m in series A funding from the latter’s Mitsubishi UFJ Capital unit and video game publishers KLab and Gumi in August 2019.
Moderato, the Japan-based owner of direct-to-consumer luxury fashion brand Soéju, received ¥160m ($1.5m) on Wednesday from eyewear retailer Jins Holdings, cosmetics producer Pola Orbis Holdings and VC firms Anri and Full Commit Partners (FCP). The round came after a December 2018 series A round featuring the latter three and undisclosed angel investors that boosted the company’s overall funding to $890,000.
Noin, the Japan-based operator of cosmetics e-commerce platform Noin and online media platform Noin.TV, secured an undisclosed amount yesterday from Marubeni Ventures, a subsidiary of trading conglomerate Marubeni. It had received $7.4m in a July 2019 round led by internet company Digital Garage’s DG Incubation unit and backed by digital media company Gree’s Strive subsidiary and DK Gate, a joint venture backed by Digital Garage and publisher Kodansha, as well as 500 Startups Japan and Mizuho Capital, part of financial services firm Mizuho Financial Group.
Angel investors including Rajesh Ranavat, a managing director of supply chain services firm Fung Group’s FSX investment arm, have provided Rs 107m ($1.4m) for India-based digital commerce network operator ShopX, Entrackr reported on Wednesday, citing a regulatory filing. Fung Group had provided $35m in funding for ShopX through tranches in August 2018 and May 2019 that followed more than $10m from angel investor Nandan Nilekani supplied through 2016.
Robotics technology producer Cyberdyne supplied ¥150m ($1.4m) in seed funding for Japan-based dietary health technology developer Plimes last month. Plimes is the creator of Gokuri, a device that can measure dietary health through assessing the sound of a user’s swallowing, and Cyberdyne intends to assist it in a planned expansion.
LottieFiles, the India-based developer of an animation file format called DotLottie, has received an undisclosed amount of seed capital from document management software provider Adobe’s Fund for Design and VC firm 500 Startups, YourStory has reported. The startup will channel the funding into research and development as it looks to improve DotLottie.
Trident, the Japan-based developer of software testing product Magic Pod, raised ¥50m ($470,000) on Monday from software verification services provider Veriserve and VC fund Incubate Fund. The cash has been earmarked for the improvement of Magic Pod, which uses artificial intelligence and machine learning to automate the testing process.
Cosmetics and beauty product distributor Beauty Garage invested an undisclosed amount in Japan-based beauty treatment subscription service Jocy yesterday through corporate venturing subsidiary BG Venture Fund. Jocy intends to use the funding to increase the number of salons and hairdressers available through its Mezon app.
