Funding
China-based energy storage technology developer MS Energy has raised ‘tens of millions of dollars’ from investors including conglomerate NWS Holdings’ Creo Capital subsidiary and Legend Capital, the venture capital firm spun off by conglomerate Legend Holdings, across series B and B-plus rounds, DealStreetAsia reported today, citing a company statement. Creo Capital and Legend Capital joined Source Code Capital in the series B while GGV Capital contributed to the latter round.
Propel, the venture capital vehicle formed by financial services firm BBVA, co-led a $15m series A round today for Truora, the Colombia-headquartered developer of a range of e-commerce software tools. The round was co-led by VC firm Accel and also featured Kaszek, Y Combinator and undisclosed angel investors.
India-based healthcare provider Medfin has secured $15m in funding from investors including consumer electronics manufacturer Sony, the Economic Times reported today. Arka Nxt, HealthXCapital, Blume Ventures, Axilor Ventures and Kotak Investments also contributed to the round.
Interstellar Technologies, the Japan-based developer of a sounding rocket called Momo and an ultra-small artificial satellite launch vehicle dubbed Zero, increased its series D funding to ¥1.87bn ($14.9m) today with ¥220m from commercial measuring instrument manufacturer IMV and media group Kadokawa. The first tranche was supplied by screw trader Sunco Industries, IT services firm Inclusive, internet company CyberAgent, SerialIncubate, SevenStar Capital and various individuals in December 2021.
Germany-based e-commerce fulfilment service Warehousing1 has raised over €10m ($10.9m) in a series A round backed by Schenker Ventures, the investment arm of rail operator Deutsche Bahn’s logistics subsidiary, DB Schenker; Aster, the VC firm backed by energy and automation manufacturer Schneider Electric, power and automation equipment maker Alstom and chemicals producer Solvay; and HV Capital, the VC firm backed by publisher Holtzbrinck. They were joined by Wille Finance and Base10 Partners.
Gadsme, the France-based developer of a digital platform for in-game advertising, has received $8m in seed funding from investors including video game publisher Ubisoft. VC firm Galaxy Interactive was the other named participant in the round.
Landed, the US-based operator of an end-to-end recruitment service for restaurant and hospitality employers, has secured $7m in seed financing from investors including footwear retailer Allbirds’ Good Friends fund. The round was co-led by Javelin Venture Partners and Blockchain Capital and also featured Lightspeed Venture Partners and assorted angel investors.
Japan-based wind analysis system developer Metro Weather raised ¥700m ($5.6m) today in a series A round featuring JGC Mirai Innovation Fund, Kuroneko Innovation Fund, Mol Plus, JR East Start Up, ACSL 1, Kyogin Lease Capital, Mitsubishi UFJ Capital and SMBC Venture Capital, on behalf of engineering firm JGC Holdings, delivery service Yamato Holdings, shipping firm Mitsui OSK Lines, rail operator JR East, autonomous robotics technology proviser Autonomous Control Systems Laboratory, leasing services firm Kyogin Lease and banking firms Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation. They were joined by electronic parts producer Kanetsu, RealTech Fund and Drone Fund while Japan Finance Corporation provided debt financing.
Recruitment firm Mindlance has supplied $5m in series A funding for Skuad, the Singapore-headquartered operator of a staffing service focused on remote teams, DealStreetAsia reported on Friday citing regulatory filings. The company also converted $2.7m in convertible note financing from earlier investors Beenext and Anthemis Group to equity.
China-headquartered sustainable finance education provider GoImpact has completed a series A round of undisclosed size featuring watch retailer Oriental Watch Holdings, Business Innovator has reported. The round tripled the company’s valuation to $22m and included an unnamed Hong Kong-based private investor.
Sweden-headquartered digital entertainment provider Modern Times Group has co-led a $4m seed round for Legendary Play, a Germany-based game studio concentrating on esports. The round was co-led with Bitkraft Ventures and also featured 1Up Ventures and Level Up.
Amica Terra, the Japan-based creator of a plastic substitute called Modo-Cell, secured an undisclosed amount today from backers including NEC Capital Solutions, Oriental Land Innovations, Sony Innovation Fund, Mizuho Capital and Mitsubishi UFJ Capital, representing IT services firm NEC, theme park operator Oriental Land Company, electronics manufacturer Sony and financial services firms Mizuho Bank and Mitsubishi UFJ respectively. The round was filled out by food wholesaler Kamei Tsusan and paper distributor Kokusai Pulp & Paper.
Japan-based artificial intelligence software developer Robot Consulting raised ¥450m ($3.6m) today from investors including restaurant operator FTG Company. The round was also backed by Stella MIC Investment and Angel Box and it boosted the company’s overall funding to approximately $4m.
Joyn, the Canada-headquartered creator of a collaborative software platform for Web3 applications, has received $3.5m from investors including blockchain technology provider ConsenSys, mobile game publisher Akatsuki’s AET Fund and Bixin Ventures, the VC arm of Bitcoin miner Bixin. The round was co-led by IOSG Ventures and GBV Capital and also featured blockchain research hub Protocol Labs, Axia8 Ventures, LongHash Ventures, Signum Capital and various angel investors.
Taki, the India-based developer of a social media platform which rewards users in crypto tokens rather than likes, has secured $3.45m in a seed round backed by Solana Ventures, the investment arm of blockchain technology producer Solana, as well as digital currency exchanges CoinDXC, FTX, Coinbase, OKX, Huobi, Gemini, Luno and Kraken, the last six through Coinbase Ventures, OKX Blockdream Ventures, Huobi Ventures, Gemini Frontier Fund, Luno Expeditions and Kraken Ventures. The round also attracted Formless Capital and Roka Works.
Life sciences consulting firm Facet Life Sciences has co-led US-based regulatory software developer Kivo’s $3m seed round with Oregon Venture Fund. They invested together with Rogue Ventures, Cascade Seed Fund and Peninsula Ventures.
Gogo Protocol, the Switzerland-headquartered creator of a decentralised finance protocol for asset management and savings, has raised $2m from investors including digital currency exchange MEXC Global’s MEXC Pioneer vehicle. The round was also backed by cryptocurrency-focused investment firm Digistrats and VC firm Shima Capital.
APX, the VC vehicle formed by sports car manufacturer Porsche and media company Axel Springer, has contributed to a €1.6m ($1.7m) funding round for Germany-based file import software startup Nuvo, Tech.eu has reported. The round was led by FoodLabs, the food technology fund spun off by VC firm Atlantic Labs, and also featured Collective Ventures and individuals including Adrian Frenzel.
Canada-based salt-tolerant rice plant developer Agrisea has rebranded to Alora having raised $1.4m in a seed round backed by Toyota Ventures, a corporate venturing subsidiary of carmaker Toyota. The unit participated in the round alongside VC firm Mistletoe.
Funds
Insurance firm Massachusetts Mutual Life has provided $5m in capital for US-based impact investment vehicle The 22 Fund. The cash is coming from MassMutual’s First Fund Initiative, formed to commit $50m to private equity funds managed by people from underserved communities.
Echo Health Ventures, the US-headquartered venture capital firm formed by health insurance provider Cambia Health Solutions and investment firm Mosaic Health Solutions, is opening a new office in the city of Nashville, Tennessee. It will be led by Echo Health Advisors principal Hayley Hovious and the move comes after health insurers BlueCross BlueShield of Tennessee and USAble joined the firm’s Echo Innovation Alliance earlier this year.
Additional reporting by Liwen-Edison Fu.
