Funds
Diversified trading group Sojitz and Sompo Light Vortex, a subsidiary of insurance firm Sompo, contributed to the ¥5bn ($37m) first close of venture capital firm GHOVC’s debut fund. GHOVC, which is jointly based in Japan and the US, has set a ¥15bn target for its final close.
China-headquartered insurer FWD Group has formed a RM45m ($10m) fund with Malaysia-based VC firm Artem Group that will back insurtech and Islamic fintech startups in the latter’s home country. The firm, TIM Ventures, has named Senang, Pewarisan, Du-It and Blueduck as its first portfolio companies.
M&A
Business-focused digital bank Tide has acquired UK-based online business finance provider Funding Options for an undisclosed amount, enabling financial services firm ING to exit. Its ING Ventures subsidiary invested $6.5m in the company in 2018.
Funding
| Company name | Company description | Sector | Country | Round | Round size ($) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Keyrock | Digital asset market maker | Financial | US | B | 72 | 30/11/2022 | Ripple (lead), Six Group (Six Fintech Ventures); Middlegame Ventures |
| iEcure | Liver disease therapeutics developer | Healthcare | US | A1 | 65 | 30/11/2022 | Novo (co-lead); Lyfe Capital (co-lead), Versant Ventures, OrbiMed |
| DeHaat | Farming services provider | Industrial | India | E | 60 | 30/10/2022 | Prosus (Prosus Ventures); Sofina (lead), RTP Global Partners, LGT Group (Lightrock India) |
| Teampay | Spend management software producer | Financial | US | B | 47 | 30/11/2022 | Mastercard; Fin Venture Capital (lead), Proof Ventures, Espresso Capital, Trestle Partners |
| OneRail | Logistics monitoring software provider | Services | US | B | 33 | 30/11/2022 | American Tire Distributors, Trimble (Trimble Ventures); Piva Capital (co-lead), Arsenal Growth Equity (co-lead), Ironspring Ventures, Las Olas Venture Capital, Bullpen Capital, Triphammer Ventures/Alumni Ventures Group, Gaingels, Mana Ventures |
| Bumper | Buy now, pay later platform for car repairs | Transport | UK | A | 32 | 30/11/2022 | Jaguar Land Rover (InMotion Ventures), Itochu; Revo Capital (lead), Autotech Ventures, Secure Trust Bank Commercial Finance (debt) |
| Pangea Cyber | App security software producer | IT | US | B | 26 | 30/11/2022 | Alphabet (Google Ventures) (lead), Cisco (Decibel), Okta (Okta Ventures); Ballistic Ventures, Syn Ventures |
| ResortPass | Hotel and resort subscription service | Services | US | B | 26 | 30/11/2022 | William Morris Endeavor; Declaration Partners (co-lead), 14W (co-lead), CRV, Gwyneth Paltrow, Jessica Alba, Brian Kelly |
| OroraTech | Thermal space data provider | Industrial | Germany | A | 15.7 | 30/11/2022 | ConActivity; Edaphon (lead), Findus Venture, Ananda Impact Ventures, BayernKapital, European Space Agency, Apex Ventures, SpaceTec Capital, Ingo Baumann, Clemens Kaiser, Free State of Bavaria |
| Hirect | Chat-based recruitment platform developer | Services | US | N/A | 14.6 | 30/11/2022 | Tencent; Tiger Global, Hill Capital Partners, MindWorks, XVC, Wu Pengfei, Vitalbridge Capital |
| Experic | Contract development and manufacturing organis | Healthcare | US | B | 14 | 30/11/2022 | Harro Höfliger Packaging Systems (co-lead); East Seattle Partners (co-lead), Kineticos Ventures |
| FrameAI | Customer intelligence software developer | Services | US | N/A | 7.6 | 30/11/2022 | Twilio, LiveRamp; G20 Ventures (lead), FirstMark, Greycroft, Velvet Sea Ventures, ValueStream Ventures |
| Midnight | Blockchain game developer | Media | US | Seed | 7.5 | 30/11/2022 | Forte, Overwolf; Shima Capital (lead), Snackclub |
| Finery Markets | Multi-dealer electronic marketplace | Financial | Cyprus | Seed | 5.5 | 30/11/2022 | Unlimint, DV Trading (DV Chain), Floating Point Group, OneAlpha; G1 Ventures (co-lead), Gumi Cryptos (co-lead), Shima Capital, Communitas Capital, GravityX, Daedalus Angels |
| Channel99 | Marketing tracking software provider | Media | US | Seed | 5 | 30/11/2022 | Bloomberg (Bloomberg Beta); Jackson Square Ventures (lead), Norwest Venture Partners, GTMfund |
| Daylight | Aggregation software provider for Web3 perks | Financial | US | Seed | 3 | 30/11/2022 | OpenSea; Framework Ventures (co-lead), Chapter One Ventures (co-lead), 6th Man Ventures, Spice Capital, Will Papper, Alex Zhang |
| Burma Burma | Vegan resturant chain | Consumer | Myanmar | Seed | 2 | 30/11/2022 | Bbigplas Poly; Negen Capital (lead) |
| Wanderers | Sci-fi themed NFT issuer | Media | US | Seed | 2 | 28/11/2022 | Animoca Brands (co-lead); GameFi Ventures (co-lead) |
| HitBox Games | Web3 game developer | Media | US | N/A | 1.6 | 30/11/2022 | Gate.io (Gate.io Labs); Fundamental Labs, Master Ventures |
| Mirage | Augmented reality content producer | Media | US | Pre-Seed | 1.4 | 29/11/2022 | Delphi Digital (co-lead); Aglaé Ventures (co-lead), Palm Tree Crew, Cozomo de Medici, G Money, Will Price, Rahilla Zafar, Cooper Turley, Jon Itzler, Chase Chapman |
| PrimeOS | Android operating system developer for laptops | IT | India | Seed | 1 | 01/12/2022 | Kundan Group (lead), Brindavan Group, Infotel Business Solutions |
| Synergi | Energy management tool provider | Energy and | Finland | Pre-Seed | <1($840,000) | 30/11/2022 | Axel Springer and Porsche (APX); Lifeline Ventures (lead) |
| Ecobean | Coffee waste processor | Services | Poland | N/A | N/A | 29/11/2022 | Ciech Group (Ciech Ventures); EIT InnoEnergy, CofounderZone, Cobin Angels |
| Turbine Studios | Independent film and television producer | Media | UK | N/A | N/A | 30/11/2022 | BBC Studios |
| Natron Energy | Sodium-ion battery manufacturer | Energy and | US | N/A | N/A | 30/11/2022 | United Airlines |