Funding
China-based precision diagnostics company Pulse Medical Imaging Technology has raised more than $100m in a series C round co-led by conglomerate Philips, Hillhouse Capital’s GL Ventures, Goldman Sachs Asset Management and Boyu Capital, according to DealStreetAsia. The round also attracted Linden Asset and Insight Capital. GL Ventures, Insight Capital, TF Capital and Shanghai STVC had provided “tens of millions of US dollars” in series B financing in November 2020. CD Capital had supplied $1.5m in series A capital in May 2019.
BioMap, a China-based precision medicine research and development platform, has raised more than $100m in a series A round backed by internet company Baidu and Legend Capital, the venture capital firm established by conglomerate Legend Holdings. GGV Capital led the round, in which Bluerun Ventures and Xiang He Capital also participated.
Culture Amp, an Australia-based employee experience platform, has picked up $100m in a series F round valuing it at $1.5bn and backed by Salesforce Ventures, the investment unit of cloud computing firm Salesforce. TDM Growth Partners and Sequoia Capital China co-led the round, with participation from Felicis Ventures, Blackbird Ventures, Index Ventures, Sapphire Ventures, Skip Capital, Grok Ventures and Global Founders Capital (GFC). Culture Amp has now raised more than $258m altogether, its earlier funding coming from Sequoia, Sapphire, Felicis, Index Ventures, Blackbird, Hostplus, Skip Capital, Grok, GFC and TDM.
US-based industrial cybersecurity technology provider Nozomi Networks has obtained $100m in a series D round led by Triangle Peak Partners, with participation from Honeywell Ventures and Porsche Digital, respective units of conglomerate Honeywell and carmaker Porsche, and electronics company Keysight Technologies, according to TechCrunch. Nozomi previously secured an undisclosed sum from telecoms firm Telefónica’s corporate venture capital arm Telefónica Innovation Ventures in July 2020. Energize Ventures, the venture capital vehicle formed by power producer Invenergy, had backed a $30m series C round in October 2018 and led a $15m series B round in January the same year.
US-based microbiome therapy developer Vedanta Biosciences has closed a $68m series D round led by affiliates of Magnetar Capital, with commitments from Fosun Health Capital, a vehicle for conglomerate Fosun, and synthetic resin manufacturer JSR. The round included a $25m commitment from pharmaceutical Pfizer, announced in January this year, as well as commitments from Verition Fund Management, PureTech Health, Rock Springs Capital, Skyviews Life Science, SymBiosis, Shumway Capital, Seventure Partners’ Health for Life Capital and unnamed institutional investors.
China-based autonomous driving technology developer Geometrical Partner has secured some RMB400m ($61.8m) in pre-series A funding, according to China Money Network. The round consisted of three tranches – a pre-series A1 supplied by Matrix Partners China and a pre-series A2 led by Xiaomi Yangtze River Industry Fund, a vehicle backed by consumer electronics company Xiaomi, with participation from Baidu Ventures, the investment arm of internet company Baidu, and Matrix Partners China. The pre-series A3 round was backed by integrated circuits manufacturer Silergy, Glory Ventures, Matrix Partners China and Puhua Capital.
Nigeria-based digital banking startup Kuda has picked up $55m in a series B round co-led by Valar Ventures and Target Global, with participation from financial services firm SBI and assorted angel investors. The round valued Kuda at $500m and was initiated at the behest of existing shareholders. Valar led a $25m series A round in March 2021, when Target Global and unnamed backers also invested. SBI contributed to a $10m seed round in November 2020.
Everactive, a US-based battery-free sensor producer using the research from the universities of Michigan and Virginia, has raised $16m in a series C extension that boosted the round to $51m. Industrial technology supplier 3M, telecommunications group Ericsson and thermal utility Armstrong International provided the additional series C funding. Everactive’s series C round stood at $35m in January this year, when it closed a tranche led by industrial equipment manufacturer Fluke and backed by Top Ventures and Asahi Kasei Ventures, respective subsidiaries of oil refinery Thaioil and chemicals provider Asahi Kasei, in addition to New Enterprise Associates (NEA), 40 North Ventures and undisclosed other investors. Fluke had taken part in a September 2020 close, after a $30m initial tranche three months earlier featuring Osage University Partners (OUP), power and automation technology provider ABB subsidiary ABB Technology Ventures, NEA, Future Fund and Blue Bear Capital.
China-based lidar technology provider Leishen Lidar has secured RMB300m ($46m) in a series C round backed by Zhengqi Financial, a financial services subsidiary of conglomerate Legend Holdings, according to China Money Network. CY Capital and Xuzhou Government Guidance Fund co-led the round, while Guolian Tongbao, TopoScend Capital, China Merchants Securities, Homwon Capital, Junci Investment, Qisi Capital and unnamed others also invested. Leishen seemingly obtained $15.8m in a series B round backed by Fortune Capital in April 2018, although this could not be confirmed. China Merchants Capital led a $15m series A round in July 2016, when Rushan Capital and Aurora Ventures also contributed. Aurora had earlier provided angel funding, but further details could not be ascertained.
China-based consumer robotics developer Keyi Technology has pocketed tens of millions of dollars in a series B round co-led by consumer electronics group Xiaomi and Shunwei Capital. Existing shareholders Source Code Capital and Bluerun Ventures also participated. Details about Keyi’s earlier funding could not be ascertained.
Planted, a Switzerland-based vegetarian meat developer with research from ETH Zurich and University of St Gallen, secured CHF19m ($21m) in pre-series B funding today from Vorwerk Ventures, a corporate venturing subsidiary of consumer product producer Vorwerk, as well as Gullspång Re:food, Movendo Capital, Good Seed Ventures, Joyance Partners, Ace & Company and Be8 Ventures. The round included debt supplied by Credit Suisse. Vorwerk Ventures and Blue Horizon Ventures previously co-led an $18.3m series A round in March 2021.
US-based connected device security technology developer Finite State has pocketed $30m in series B capital led by Energize Ventures, the venture capital vehicle formed by power producer Invenergy. The round also attracted Schneider Electric Ventures, the investment arm of energy company Schneider Electric, and Merlin Ventures, the corporate venturing unit of cybersecurity firm Merlin Cyber. Energy Impact Partners led a $12.5m series A round in May 2020, with participation from Zetta Venture Partners, private investor Niloofar Howe and unnamed others. It had raised a $7m seed round led by Drive Capital in 2017.
Spain-based package tour operator Exoticca has completed a $30m round co-led by 14W and Mangrove Capital Partners, with participation from Sabadell Venture Capital, financial services firm Sabadell’s venture capital arm, as well as Aldea Ventures, Milano Investment Partners, K Fund, Bonsai Partners and Kibo Ventures. The company has now raised $53m altogether. Sabadell contributed to an $18m series B round closed in September 2020.
Snoop, a UK-based money management app backed by cloud computing firm Salesforce, has raised £15m ($20.9m) in a funding round led by investment management firm Paulson & Co. The round valued Snoop at $65.4m and follows a $4m seed round led by Lloyd Dorfman in April 2020, when Salesforce invested through Salesforce Ventures subsidiary. The seed round also featured Havisham Group, which had previously joined Salesforce Ventures for a round of undisclosed size in 2019.
Yaydoo, a Mexico-based operator of a cloud-based procurement platform, has collected $20.4m in a series A round backed by telecoms firm SoftBank’s Latin America Fund, according to TechCrunch. The round was co-led by Base10 Partners and Monashees, with additional participation from Leap Global Partners. Co-founder Sergio Almaguer told TechCrunch the company had now secured $21.5m in funding altogether.
Mixlab, a US-based online pet pharmacy backed by petcare product and food provider Mars Petcare, has picked up $20m in a series A round led by Sonoma Brands, with contributions from Global Founders Capital, Monogram Capital, Lakehouse Ventures and Brand Foundry, according to TechCrunch. The company has now raised more than $30m altogether, having secured $2m in August 2020, according to a regulatory filing, and $8.5m in a round backed by Mars Petcare in 2019. The 2019 round was led by VC firm Global Founders Capital and backed by Monogram Capital, Brand Foundry, Lakehouse Ventures, Joyance Partners and TQ Ventures.
ReThought Insurance, a US-based managing general agent for commercial flood risk, has received $15.5m in a series A round led by Telstra Ventures, the investment unit of telecoms firm Telstra, with participation from reinsurer HSCM Bermuda, ArcTern Ventures, Menlo Ventures, ManchesterStory and Streamlined Ventures. The company previously raised $1.9m in September 2018 round, according to a regulatory filing.
Yummy, an Indonesia-based cloud kitchen management company, has extended its series B round by an undisclosed amount thanks to a commitment from Sembrani Nusantara Ventures Fund, a vehicle for financial services firm Bank Rakyat Indonesia’s corporate venturing arm BRI Ventures, according to Tech in Asia. SoftBank Ventures Asia, a division of telecoms firm SoftBank, and drinks company Coca-Cola’s Australian corporate venturing unit, Amatil X, were among the backers of a $12m initial series B tranche in September 2020.
Loship, a Vietnam-based e-commerce logistics service backed by digital media company DesignOne Japan, has secured $12m in series C funding from unnamed backers, according to DealStreetAsia. Loship secured an initial series C tranche of undisclosed size in February 2021 led by MetaPlanet Holdings. DesignOne and Golden Gate Ventures had supplied a seven-figure sum in 2015, followed by an eight-digit amount in a 2019 series B round led by Smilegate Investment – sponsored by video game developer Smilegate – with commitments from DTNI, Ascendo Ventures, JC Capital and Vietnam Silicon Valley. Vulpes Investment Management reportedly led an undisclosed amount of bridge financing in October 2020.
US-based blockchain infrastructure technology developer Paxos has received at least $5m in a series D extension backed by cryptocurrency exchanges FTX and Coinbase, the latter investing through Coinbase Ventures, as well as financial services firm Bank of America and Founders Fund. Paxos collected an initial $300m in series D capital featuring PayPal Ventures, the corporate venturing arm of online payment service provider PayPal, in April 2021. It has now raised more than $540m altogether, it said.
Theoria Science, a Japan-based exosome-targeted cancer treatment developer using research conducted by Tokyo Medical University professor Takahiro Ochiya, has raised ¥500m ($4.6m) in a series A round from pharmaceutical firm Taisho Pharmaceutical and SMBC Venture Capital, a VC subsidiary of financial services firm Sumitomo Mitsui Banking Corporation. It had already raised an undisclosed amount in series A funding in June 2020 from SBI Investment, a vehicle for financial services firm SBI.
Japan-based peptide drug developer Himuka AM Pharma reached a ¥400m ($3.7m) first close for its series B round on Friday featuring financial services firm Mitsubishi UFJ subsidiary Mitsubishi UFJ Capital’s Life Science Fund; QB Capital, which is run by Kyushu University’s Kyushu TLO subsidiary; Miyazaki University Dream Support Fund, a joint venture between financial services group Miyazaki Bank’s Miyagin Venture Capital unit and Miyazaki University; accelerator KSP; Dogan Beta, a VC subsidiary of investment and consulting services firm Dogan; Miyazaki Taiyo Capital, a vehicle for leasing services firm Miyazaki Taiyo Lease, VC firm Japan Asia Investment and financial services firm Miyazaki Taiyo Bank; as well as various private investors.
Neu Energy, a Colombia-based artificial intelligence-powered distributed energy service, has secured $3.5m in a funding round led by commercial distributed energy system supplier Erco Energy, with participation from private investors Michel Di Capua and Pablo Hernan Corredor, according to Forbes.
South Africa-based agtech software and marketplace operator Khula has disclosed $1.3m in seed funding led by agrochemical company AECI, according to TechCrunch. E Squared Investments also took part in the round. The round was closed last year, but only revealed this week.
Singapore-based coffee pod brewing machine developer Morning has completed a $1.27m pre-series A round led by ZVentures, the corporate venturing arm of technology group Razer, according to Tech in Asia. Hospitality company Lo & Behold Group and assorted private investors also took part in the transaction.
Quando, the Japan-based provider of a remote communication tool dubbed SynQ Remote, has raised ¥120m ($1.1m) in funding from corporate data aggregator Uzabase’s UB Ventures unit and Dogan Beta, a VC subsidiary of investment and consulting services firm Dogan, as well as Beenext’s All Star SaaS Fund, F Ventures and unnamed angel investors.
Japan-based counsellor matching service Unlace has raised ¥60m ($548,000) from Z Venture Capital, a corporate venturing subsidiary of Z Holdings, and Delight Ventures, a venture capital firm spun off by another internet company DeNA, as well as various angel investors.
Japan-based business and regional issue-focused community platform Tailor Works has raised an undisclosed amount of funding from Kiraboshi Consulting and Kiraboshi Bank, both subsidiaries of financial services firm Tokyo Kiraboshi Financial Group.
Japan-based mobile hotel builder RuGu has rebranded to Blanc and raised an undisclosed amount of funding from professional services firm Brew.
Telkomsel Mitra Inovasi, the corporate venture capital arm of telecoms firm Telkomsel, has led a pre-series A round of undisclosed size for Feedloop, an Indonesia-based developer of a no-code development platform. East Ventures and Aksara Ventures also backed the round.
Japan-based, Africa-focused used car exporter CarPayDiem has secured an undisclosed amount of funding from Toyota Tsusho, the trading subsidiary of carmaker Toyota. It had already raised a similarly undisclosed amount from Toyota Tsusho in May 2020.
Japan-based engineer-focused programming platform Querier has raised an undisclosed amount from mobile game producer KLab’s Anobaka subsidiary.
Blue Venture Fund, a vehicle investing on behalf of healthcare group Blue Cross Blue Shield Association, has backed a round of undisclosed size for US-based on-site primary care provider Bluestone Physician Services. Bluestone is owned by private equity firm WindRose Health Investors.
M&A
Telehealth services provider Amwell has acquired two corporate-backed companies, each for undisclosed amounts, and will integrate both offerings into its virtual care platform. The first company set to be bought by Amwell is US-based virtual care app developer Conversa Health, backed by Northwell Ventures, a corporate venturing unit of healthcare provider Northwell Health, and healthcare provision database Healthgrades. The other company is SilverCloud, a US-based digital mental health platform SilverCloud Health whose shareholders include MemorialCare Innovation Fund, UnityPoint Health Ventures and OSF Ventures, respective investment vehicle for medical care providers MemorialCare Health System, UnityPoint Health and OSF HealthCare.
Factom, a US-based company applying blockchain technology to the mortgage compliance process backed by retail technology provider Overstock, has been acquired by fintech company Inveniam Capital Partners for an undisclosed sum. FastForward Innovations invested $6m through SAFE notes in Factom in August 2018, which were set to be converted into series B shares – however, Factom does not appear to have raised such a round. Medici Ventures, the blockchain investment arm of Overstock, bought a 2.5% stake for $750,000 in 2017. Factom had earlier obtained around $5.7m from investors including Kuala Innovations, Fenbushi Capital, BnkToTheFuture and private investor Tim Draper.
RiskSense, a US-based cybersecurity technology developer backed by safety and regulatory services provider UL, has been bought by cybersecurity company Ivanti. Financial terms of the transaction have not been revealed. RiskSense last raised funding in 2018, when UL’s corporate venture capital arm UL Ventures contributed to a $12m series B round. Spring Mountain Capital and NightDragon Security co-led the round, which also featured Paladin Capital Group, Sun Mountain Capital, Epic Ventures and Jump Capital.
Russia-based trade finance blockchain Factorin has been acquired by mobile phone company MTS for $12m, according to Ledger Insights The company also received $4.75m in funding from MTS and existing investor Digital Horizon. MTS now owns a 51% stake.
– Additional reporting by Liwen-Edison Fu.
