Funding
Investment bank Goldman Sachs and venture capital firm Redpoint E.ventures have added $23m to a series D round for Brazil-based e-commerce integration service provider Olist that now totals $80.5m. The $57.5m first close was led by telecommunications and internet group Softbank’s Latin America Fund in November 2020 and included Valor Capital, Península Participações, Velt Partners, FJ Labs and Kevin Efrusy. It came after a $46.6m round in late 2019 led by SoftBank and backed by Redpoint E.ventures and Valor Capital, and Olist’s earlier backers include internet company DeNA and 500 Startups.
TetraScience, a US-based scientific research software provider backed by measurement technology provider Waters Corporation and research technology producer Digital Science, has completed an $80m series B round co-led by growth equity firm Insight Partners and investment adviser Alkeon Capital Management. It came after an undisclosed amount from Digital Science in 2016 and $8m in series A funding from Waters Corporation, Floodgate, First Round Capital, Underscore VC, Founder Collective and Y Combinator in late 2019.
US-based drug development technology producer Medable received $78m in funding from investors including contract research provider PPD yesterday. Venture capital firm Sapphire Ventures led the round, which also featured Obvious Ventures, GSR Ventures and Streamlined Ventures. Medable said it has now raised over $217m in total, having secured $91m in a November 2020 series C round led by Sapphire Ventures and backed by PPD, GSR Ventures and Streamlined Ventures.
Outschool, a US-based online education provider backed by children’s television producer Sesame Workshop, has increased its valuation to $1.3bn in a $75m series C round co-led by Tiger Global Management and Coatue. The round also featured Lightspeed Venture Partners, Union Square Ventures (USV) and Reach Capital, and it came in the wake of a $45m series B in September 2020 led by Lightspeed and backed by USV, Reach Capital, Y Combinator, SV Angel and FundersClub. The Sesame Workshop-backed Collab + Sesame had taken part in Outschool’s $1.4m seed round in 2017.
Grocery delivery service Ocado had agreed to add £10m ($13.8m) to a series B round for UK-based autonomous vehicle technology developer Oxbotica that stood at $47m as of January this year. That close was led by petroleum producer BP’s investment arm, BP Ventures, and included internet group Tencent, safety equipment manufacturer Halma, IP Group, BGF, HostPlus, Venture Science and funds advised by Doxa Partners. Oxbotica had raised a total of $24m as of September 2019, $18.5m coming from Axa XL, a subsidiary of insurance firm Axa, and IP Group subsidiary Parkwalk Advisors in 2018.
Xwing, a US-based autonomous aviation technology developer that counts electronics systems producer Thales among its earlier backers, has secured $40m in a funding round led by VC firm Blackhorn Ventures at a $400m valuation. Acme Capital, Loup Ventures, R7 Partners, Eniac Ventures, Array Ventures and Alven Capital also took part in the round, which followed $4m in seed capital from Eniac Ventures, Array Ventures and angel investors John and Patrick Collison and Nat Friedman in 2018, and $10m from Thales subsidiary Thales Corporate Ventures, R7 Partners, Alven Capital and Eniac Ventures in May 2020.
Gradient Ventures, the artificial intelligence fund formed by internet technology provider Google, was among the investors in a $33m funding round for US-based meeting automation software developer Chili Piper. The round was led by hedge fund manager Tiger Global Management, included Base10 Partners and boosted Chili Piper’s overall funding to $54m. Gradient Ventures, Base10 Partners and existing backer Flashpoint Venture Capital had supplied $18m in series A funding for the company in August 2020.
Canvas, the US-based creator of a robotic drywall installation system, has received $24m in series B funding from investors including general contractor Suffolk Construction. VC firm Menlo Ventures led the round, which also featured Alumni Ventures Group, Innovation Endeavors, Brick & Mortar Ventures, Obvious Ventures and Grit Labs. The company emerged from stealth in November 2020 and has not disclosed details of its earlier financing, but named Innovation Endeavors, Brick & Mortar Ventures, Obvious Ventures and Grit Labs as existing investors.
US-headquartered DNA synthesis technology developer Molecular Assemblies has completed a $24m series A round featuring protein engineering firm Codexis, laboratory instrument producer Agilent Technologies and Alexandria Venture Investments, the VC arm of life sciences real estate investment trust Alexandria Real Estate Equities. The corporates were joined by Lyfe Capital and iSelect Fund. The round’s first close in late 2019 included Keshif Ventures and it followed $2.3m secured in a 2016 seed round.
InfoRich, the Japan-based mobile device charging service also known as ChargeSpot, has raised ¥2.3bn ($21.1m) from Hirogin Capital Partners and Nanto CVC – on behalf of financial services firms Hiroshima Bank and Nanto Bank – as well as consulting firm P&E Directions, the government-affiliated Japan International Economic Development Organisation and Venture Labo Investment. It had secured a total of $36.8m from investors including corporates Dentsu, MCJ, Japan Post and Horipro as of a $9.5m round in March 2020.
Crowd Credit, the Japan-based operator of an online lending marketplace, has received ¥1.1bn ($10.1m) from Mitsui Sumitomo Insurance Venture Capital and GMO VenturePartners, the respective investment vehicles for insurer Mitsui Sumitomo Insurance and internet company GMO. It had raised an undisclosed sum from Edge Labs and Investment Lab in December 2020, following an undisclosed amount of debt and equity financing from Line Ventures Japan, a subsidiary of communication platform developer Line, in addition to Seibu Shinkin Bank, in 2018. Trading group Itochu had invested $1.7m three years earlier.
Persefoni, a US-based carbon accounting platform developer backed by energy and industrial consulting firm Carnite Group, has secured $9.7m in a series A round led by energy investor Rice Investment Group that also featured NGP ETP and Sallyport Investments. The company had closed a seed round led by Rice Investment Group and backed by Carnrite vehicle Carnrite Ventures and undisclosed angel investors at $3.5m in August 2020.
Japan-based debt crowdfunding service Bankers Holding has collected ¥800m ($7.4m) for a round expected to close at ¥1bn, from investors including financial data aggregator Minkabu The Infonoid, online marketing service Estore, property developer Ichigo, retail equipment supplier Plenty, seafood vendor Matsuoka and CyberAgent Capital, Gree Ventures and Mizuho Capital, on behalf of internet company CyberAgent, digital media group Gree and financial services firm Mizuho Bank respectively. They were joined by company president Takeshi Shibuya and unnamed employees as well as Matsui Securities, Hack Ventures’ Hack Osaka Investment Partnership, Incubate Fund, i-Nest Capital and Mirai Nihon Ventures.
Cigarette producer Vector Group has supplied an undisclosed amount for Humming Homes, the US-based creator of a technology-equipped home management service, through property technology investment fund New Valley Ventures. Humming Homes is working with real estate developer Douglas Elliman to expand in the United States.
Another Works, the Japan-based operator of an online platform that matches users with opportunities for multiple jobs, has raised ¥160m ($1.5m) from investors including marketing firm Vector. The corporate was joined by angel investors including Yuma Umeda and the cash will go to product development, recruitment and marketing activities.
Snack food manufacturer John B. Sanfilippo & Sons has invested $1m in US-based seed snack brand Brass Roots, Silicon Bayou News reported yesterday. Brass Roots’ holding company, A&C Snacks, had previously raised $50,000 from undisclosed investors in 2014 and $430,000 in debt financing the following year, according to regulatory filings.
Strive, the corporate venturing arm of digital media company Gree, has led a Rs 60m ($800,000) seed round for SuperK, the India-based operator of a technology-equipped chain of grocery stores, YourStory reported yesterday. VC firm First Cheque also took part in the round, as did Ramakant Sharma & Syndicate and angel investors including Srinivas Anumolu, Anand Chandrasekaran, Lalit Keshre, Rajan Bajaj and Sampad Swain.
Additional reporting by Liwen-Edison Fu.
