Funding
Investment adviser VMCapital has supplied hundreds of millions of yuan (RMB100m = $15.5m) in series C financing for Baijiayun, a China-headquartered video teleconferencing technology provider backed by video platform developer Xiaodu Huyu, digital education provider Huatu Education and cloud edge platform developer BaishanCloud, 36Kr has reported. The company had raised a total of over $50m as of a $13.9m series B-plus round in October 2020 led by venture capital firm Fortune Capital, and the latest round valued it above $465m.
US-based financial software provider Prime Trust has completed a $64m series A round that included financial services firm Nationwide and Samsung Next, a corporate venturing vehicle for consumer electronics manufacturer Samsung. The round was led by Mercato Partners and also featured Commerce Ventures, Ayon Capital, Kraken Ventures, STCAP, S20 Capital, Seven Peaks Ventures, Diverse Angels, University Growth Fund and Nevcaut Ventures. The deal followed an undisclosed amount from digital asset exchange OK Group in March 2019.
China-based allogenic cell therapy developer Neukio Biotherapeutics has closed a $40m angel round led by Lilly Asia Ventures, a corporate venturing subsidiary of pharmaceutical firm Eli Lilly. VC group IDG Capital and VC firm Sherpa Healthcare Partners also participated, and the capital will be channelled into drug development and the construction of a research facility.
Educational services provider New Oriental Education and Technology Group’s New Oriental Education and Culture Industrial Fund has led a RMB188m ($29.1m) pre-Series C round for Laihua, the China-based operator of an online animation creation platform, DealStreetAsia has reported. The round included Zhencheng Capital, which had led Laihua’s $25.3m series B3 round in April this year, investing alongside Infinity Capital. Its earlier backers include V1 Group, the owner of an online video streaming platform.
India-based crypto investment product developer Vauld has received $25m in series A funding from investors including Coinbase Ventures, CMT Digital and Gumi Cryptos, subsidiaries of cryptocurrency exchange operator Coinbase, proprietary trading firm Capital Market Trading and mobile game publisher Gumi, the Economic Times has reported. Valar Ventures led the round, which included Pantera Capital, Cadenza Capital and angel investor Robert Leshner. Vauld had previously closed $2m in funding from Coinbase Ventures, CMT Digital and Pantera Capital in December 2020, and ET also named Gumi Cryptos, Leshner and Cadenza Capital as existing investors.
Coinbase Ventures has also participated in a $20m series B round for Livepeer, the US-based operator of a decentralised video streaming platform, The Block has reported. The round was led by blockchain-focused VC firm Digital Currency Group (DCG) and also featured Northzone, CoinFund, Animal Ventures and 6th Man Ventures. The company had received $8m in series A funding from Northzone, DCG, Libertus, Collaborative Fund, Notation Capital, Compound, North Island, StakeZero Ventures and angel investor Ben Rubin in June 2019, having raised $3m from unnamed investors the previous year.
Spain-based digital business lender Ritmo has completed a €13.8m ($16.4m) seed round that included Sabadell Venture Capital and Wayra, which invested on behalf of financial services firm Banco Sabadell and telecommunications firm Telefónica respectively. FinRebel, JME Ventures, Inveready and Bynd Venture Capital also participated in the round, which includes a €3m first tranche closed in April this year.
Enterprise technology producer NCR Corporation has co-led a $15.5m series C round for Kasisto, the US-headquartered creator of a digital experience platform, with VC firm Naples Technology Ventures. The round included unnamed existing investors and pushed Kasisto’s overall funding to $67m, the company said. It had raised a total of $50.5m as of a $22m series B round closed in February 2020, from investors including payment services firm Mastercard, DBS Bank and Propel Venture Partners, the VC firm sponsored by fellow financial services firm BBVA.
Realm, the US-based operator of an online data platform for homeowners, has received $12m in a series A round that included insurance firm Liberty Mutual’s strategic investment arm, Liberty Mutual Strategic Ventures. VC firm GGV Capital led the round, which was also backed by Primary Venture Partners and Lerer Hippeau – both of which had joined Liberty Mutual Strategic Ventures in Realm’s $3m seed round in February this year.
Pinlan, the China-based creator of an artificial intelligence software platform for architectural design, has closed a series A-plus-plus round of undisclosed size led by VC group IDG Capital, DealStreetAsia has reported. Zhongmi Capital and Kuai Chuangying had supplied an eight-digit yuan amount in a July 2019 pre-series A round, and Pinlan’s existing investors include real estate developers China Jinmao (part of chemical producer Sinochem) and New World Development, Shunwei Capital, Plum Ventures, GSR Ventures and Z Capital, according to DealStreetAsia.
Fitt Ventures, a newly formed corporate venturing vehicle for fitness publisher Fitt Insider, has contributed to a $12.3m series A round for Canada-based microgym network operator Silofit consisting of $10.3m in equity funding and $2m in debt financing. The equity portion was led by Whitecap Venture Partners and included Courtside Ventures, Alate Partners and angel investor David Grutman, while Silicon Valley Bank supplied the debt portion. Whitecap Venture Partners and Courtside Ventures had joined angel investor Ndamukong Suh to supply $750,000 in seed capital for Silofit in November 2019 to take its total funding to $860,000. It had added funding from investors including Alate Partners to close the round at about $2.6m, it revealed in November 2020.
Washlava, a US-based mobile internet-of-things technology developer backed by consumer electronics manufacturer LG Electronics, has secured $9m in recapitalisation and equity financing from Monterey Private Capital and David A. Straz Jr Foundation. The company had raised a total of $3.6m in debt and equity financing as of May 2019, before adding an undisclosed amount from LG Electronics two months later.
Biconomy, the US-based creator of a blockchain software development platform, has raised $9m from investors including staking node operator Chorus One, bespoke technology provider Proof Group and digital currency exchanges Coinbase (through Coinbase Ventures) and Huobi. The round was co-led by Mechanism Capital and DACM and also featured CoinFund, Ledgerprime, Primitive Ventures, Genblock Capital, Rarestone Capital, Bain Capital, NFX, True Ventures and assorted angel investors. It followed a $1.5m seed round featuring cryptocurrency exchange Binance in January this year.
Strata, an India-based real estate investment platform developer backed by real estate data provider PropStack, has received $6m in a series A round co-led by Kotak Investment Advisors, Gruhas Proptech and Sabre Investments, Entrpreneur.com has reported. Elevation Capital, Mayfield India and Gemba Capital also contributed to the round, which came in the wake of a $1.5m seed round in March 2020 co-led by SAIF Partners and Mayfield India and backed by PropStack.
Supermarket chain Carrefour has provided an undisclosed amount of funding for France-based on-demand grocery delivery service Cajoo. The startup had received $7.2m in a February 2021 round co-led by VC firm Frst and private equity firm XAnge that also featured unnamed local angel investors.
Canada-based video game and crypto wallet developer Horizon Blockchain Games has secured $4.5m in pre-series A funding in the form of simple agreement for future equity (SAFE) financing, from investors including proprietary trading firm Capital Market Trading’s CMT Digital subsidiary. The round also featured Bitkraft, The Xchange Company and angel investors Khaled Verjee and Zyshan Kaba, and it followed $3.8m in seed capital from investors including digital currency exchange Coinbase in mid-2019 and another $5m from CMT Digital, blockchain software producer ConsenSys, Initialized Capital, Regah Ventures, Digital Currency Group, Polychain Capital and Golden Ventures in March 2020.
Axa Japan, a subsidiary of insurance firm Axa, has invested an undisclosed amount in Kortuc, the Japan-based developer of a radiosensitiser for cancer radiotherapy. Insurance firm Nippon Life’s Nissay Capital vehicle provided $880,000 for Kortuc in 2017 before it added $430,000 from Shigin Regional Revitalization Fund, a partnership between Shikoku Bank and Shigin Regional Economic Research Institute, in 2018, and undisclosed sums from Iyo Bank’s Iyogin Capital vehicle in January 2019 and conglomerate Sojitz in December the same year. Kortuc’s technology is based on research by Yasuhiro Ogawa, a professor emeritus at Kochi University.
Disability welfare service provider Welbe joined 12 undisclosed angel investors to supply ¥300m ($2.7m) in funding on Friday for Shikumi Design, the Japan-based developer of creative programming app Springin’. The cash will support product development and the addition of more teaching materials for the Springin’ support service provided for educational instructors.
Immunosens, a Japan-based immunosensor technology developer spun out of Osaka University, secured an undisclosed amount of series B funding from MMC Innovation, a joint venture for advanced materials producers Mitsubishi Materials Corporation and Japan Material Technologies Corporation, on Friday. Osaka University Venture Capital’s OUVC1 vehicle had invested $565,000 in the company in 2018, $1.4m in December 2019 and $1.2m in March this year.
Yadokari, a Japan-based compact house builder backed by construction firm NCN, received ¥250m ($2.3m) on Friday in a round featuring equity funding from VC firm Nippon Venture Capital’s NVCC9 fund and debt financing from unnamed financial institutions. NCN had supplied an undisclosed amount for the company in late 2019.
Hello Divorce, the US-based operator of an online platform that uses artificial intelligence to help users get through divorce less stressfully, has raised $2m from investors including Northwestern Mutual Future Ventures, the VC arm of financial services provider Northwestern Mutual. Family office CEAS led the round, which also featured Lightbank, Gaingels, Equity ESQ and angel investors Jack Newton and Lisa Stone.
Digital media services provider Inclusive, 3D modelling technology provider Calio, retailer Satudora, construction firms Miyasaka Construction & Engineering, Nishie Construction and Hagiwara Construction Industry, electric utility Hokkaido Electric Power and financial services firm Obihiro Shinkin Bank supplied ¥66m ($600,000) for Japan-based spaceport operator Space Cotan on Friday. The company has not confirmed details of earlier funding but said it has now raised about $1.3m altogether.
Adviser Navi, a Japan-based consulting service for independent financial advisers, secured ¥57m ($520,000) from stock investment portal operator LifePartners and undisclosed angel investors on Friday. The company’s platform has been released in beta and it is gearing up for a full commercial release in the coming months. It has previously received $420,000 from unnamed individuals in April 2020.
Artificial intelligence and data analytics software provider Screen Advanced System Solutions invested an undisclosed amount in Laboro.AI, the Japan-based owner of bespoke AI technology platform Custom, on Friday. The companies plan to collaborate on applying AI to Screen Advanced products such as semiconductor manufacturing equipment.
Lending software provider Peak Fintech Group has paid RMB2.5m ($390,000) for a stake in Rongbang Technology, a business services-focused subsidiary of China-headquartered payment services firm China UnionPay, sized below 1%. The investment came after Peak signed an agreement enabling it to leverage China UnionPay’s network to offer transfer and payment settlement services through its Lending Hub.
CreditFins, the Egypt based developer of a financial wellness-focused credit card management platform, has completed a pre-seed round of undisclosed size co-led by mobile software producer TA Telecom Holding, Business Africa Online has reported. VC firm Flat6Labs and angel network AUC Angels co-led the round, which included unnamed individuals.
Additional reporting by Liwen-Edison Fu.
