Funding
China-based payment technology provider Leyaoyao has secured a nine-digit yuan amount (RMB100m = $15.4m) in a series D round featuring mobile game publisher 37 Interactive Entertainment, DealStreetAsia reported yesterday. BOC & Utrust Private Equity Fund Management, Citic Securities, Guangzhou Chengtou Cankong Fund, Jinpu Wenchuang and Yuanhe Zhichuang Capital also took part in the round, which followed a $21.5m series C in February 2020 fetauring internet group Tencent, Bright Capital and GF Xinde Investment that took its total funding to about $65m.
US-based artificial intelligence technology developer Latent AI has raised $19m in series A funding from investors including aerospace manufacturer Lockheed Martin and IT consulting firm Booz Allen Hamilton, TechCrunch reported today. Venture capital firms Future Ventures and Blackhorn Ventures co-led the round, which also featured 40 North Ventures and Autotech Ventures. The company was spun out of research institute SRI International, and its SRI Ventures fund joined Future Ventures, Perot Jain and Gravity Ranch in a $3.5m seed round in June 2019.
Internet group Tencent and conglomerate Sumitomo have supplied an undisclosed amount of convertible bond financing for Thailand-based digital entertainment platform developer Ookbee, the latter through Sumitomo Corporation Equity Asia, Techsauce reported yesterday. InVent, a subsidiary of telecommunications firm InTouch, paid $1.9m for a 25% stake in Ookbee in 2013, before it raised $7m in series B funding from outsourced services provider Transcosmos the following year and an undisclosed sum from financial services firm Kasikornbank’s Beacon Venture Capital unit in 2018.
Restaurant group Restaurant Brands International led a $14m series A round today for WoodSpoon, the US-based operator of a delivery service for home-cooked food. VC firm World Trade Ventures also participated in the round along with angel investors including Victor Lazarte, and it followed a $2m seed round led by World Trade Ventures in December 2020.
Intelligencia, the US-based developer of an artificial intelligence software platform for use in drug development, secured $12m today in a series A round that included professional services firm ZS. The round was led by MTIP and also featured Big Pi Ventures and Synetro Group, the latter two described as existing investors.
Telecoms firm KDDI’s Open Innovation Fund, managed by VC firm Global Brain, led a €10m ($11.8m) series A round yesterday for Xayn, the Germany-headquartered creator of a private online browser and search tool. VC firm Earlybird Venture Capital also participated in the round, having led the company’s $7m seed round in 2018, the year after it won carmaker Porsche’s Blockchain Innovation Contest. It said it has now raised about $23m altogether.
Indonesia-based payment technology provider AwanTunai has received approximately $11.2m in funding, $2.6m of which came from financial services firm Bank Rakyat Indonesia’s BRI Ventures unit, DealStreetAsia reported yesterday, citing a regulatory filing. Insignia Ventures Partners led the round, which included $1.6m from OCBC NISP Ventura – part of financial services provider OCBC NISP – and additional cash from Atlas Pacific Capital, Benchmark Group, Global Brain, Battery Road Digital and Five Stones Investment Group. It was preceded by $4.3m from Insignia Venture Partners, AMTD Group, Global Brain and Fenox Venture Capital in 2018.
China-based digital asset services provider Global Mofy raised an eight-figure yuan amount (RMB10m = $1.54m) today in a series A-plus round co-led by wheat processor Shanghai Qufeng International and 36Kr Fund, a vehicle for business media company 36Kr. The capital will be allocated to research and development in addition to the integration of international digital asset copyrights.
US-based digital wallet developer Liquality completed a $7m funding round that included quantitative trading firm Alameda Research and Coinbase Ventures, the strategic investment arm of digital currency exchange Coinbase. The round was co-led by Hashed, the VC fund affiliated with automotive component producer Wanxiang, with digital asset-focused investment firm Galaxy Digital, and it also featured White Star Capital and Accomplice.
Lead-acid battery manufacturer Amara Raja Batteries has agreed to pay Rs 370m ($5m) for an 11.4% stake in India-based fuel cell technology developer Log 9 Materials Scientific, the Economic Times reported yesterday. VC firm Gems provided an undisclosed amount of in pre-series A funding for Log 9 in 2017 and joined Metaform Ventures and angel investor Hemant Luthra to add $430,000 the following year. Exfinity Venture Partners and Sequoia Capital India’s Surge vehicle co-led its $3.5m series A round in October 2019.
Accenture Ventures, the corporate venturing arm of consulting firm Accenture, has invested an undisclosed amount in Pipeline, the US-based developer of a software platform that uses data analytics to help reduce the gender equity gap. Pipeline raised $230,000 from unnamed investors in 2017 before joining Techstars Impact Accelerator the following year and closing $510,000 in March 2019, $125,000 in debt financing seven months later and $300,000 in debt in January this year, according to securities filings.
US-based micronutrient provider Rootine secured $3m today in a seed round that included laboratory services provider Novogenia and DSM Venturing, the investment arm of health and nutrition product maker Royal DSM. The corporates were joined by Duro VC, Launch TN Impact Fund, Cleo Capital and more than 20 individuals. The company had joined the Techstars NYC accelerator in 2018.
RentCheck, a US-based creator of automated property inspection software, increased its overall funding to $3.6m yesterday, adding an amount of seed capital reported by TechCrunch as $2.6m, from investors including media and automotive group Cox Enterprises and consulting firm Boston Consulting Group’s BCG Digital Ventures unit. The seed round also featured TPG Capital, Irongrey, Context Ventures, Techstars and several angel investors. RentCheck had secured $1m in pre-seed capital from investors including TPG Capital founder Jim Coulter, TechCrunch reported.
US-based organic period product brand TOP increased its seed round to $2m today, with insurance firm MassMutual’s MM Catalyst Fund among the participants. It was joined by 37 Angels, Charlottesville Angel Network, Dirigo Fund, Maine Angels, Warfield Capital Partners, Spacestation Investments, NU Impact, Valedor Partners and unnamed angel investors. The company said its overall funding now stands at $3m, a figure that stood at $1.6m as of a February 2020 close led by Maroon Venture Partners Fund.
Alcoholic beverage producer Guinness Nigeria and packaged food producer Promasidor Nigeria have invested a combined $100,000 in Nigeria-based online grain marketplace Zowasel, Disrupt Africa reported yesterday. The cash was provided through the United Nations’ 2021 Zero Hunger Sprint, an accelerator contest for agricultural technology startups.
