Funding
UK-headquartered Christian prayer app developer Glorify completed a $40m series A round yesterday that included telecommunications and internet group SoftBank’s Latin America Fund. The round was led by venture capital firm Andreessen Horowitz and also featured K5 Global and private investors including Kris Jenner, Corey Gamble, Michael Ovitz, Michael Bublé and Jason Derulo. The deal valued it at about $250m, according to the Financial Times.
Susquehanna International Group’s SIG DT Investments vehicle and fellow trading firm Jump Group’s Jump Crypto subsidiary co-led a $34m funding round for US-based decentralised derivatives network creator Hxro Network with Blockchain Capital on Tuesday. The round included Solana Ventures and Coinbase Ventures – on behalf of blockchain platform Solana and crypto exchange Coinbase – as well as trading firms Alameda Research, Chicago Trading Company and Pattern Research, digital currency prime broker Genesis, Commonwealth Asset Management, CoinFund, LedgerPrime, Mantis and Magnus Capital.
DMC Biotechnologies, a US-headquartered provider of microbial fermentation-based chemicals, secured $34m in series B funding yesterday from investors including tyre manufacturer Michelin and chemical producers SCG and Solvay, the latter through Solvay Ventures. They were joined by ADM Capital’s Cibus Enterprise fund, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures and Boulder Ventures. The company had received $1.75m in a Capricorn Venture Partners-led seed round in 2018 and closed an $11.3m series A in December 2019 co-led by SCG, Sofinnova Partners and Boulder Ventures and backed by Capricorn Partners and Breakthrough Energy Ventures.
SafelyYou, a US-based developer of fall detection and prevention technology, completed a $30m series B round yesterday led by real estate investment trust Omega Healthcare Investors and backed by Scan Group, the parent company of healthcare provider Scan Health Plan. The round included Eclipse Ventures, Foundation Capital, Founders Fund and DCVC, while Omega concurrently prepaid $10m to install SafelyYou’s offering across its facilities. SafelyYou had already secured $19.5m in a September 2021 series A round featuring House Fund, Founders Fund, DCVC, Foundation Capital, TSQ Advisors, Pathbreaker Ventures, Swift Ventures, Pacific Health Ventures, Anorak Ventures and 7Percent Ventures.
Pharmaceutical company Pacira BioSciences led a $28m financing round yesterday for US-based neurological disorder treatment developer Coda Biotherapeutics. MPM Capital and Versant Ventures also invested while Silicon Valley Bank supplied debt financing, and Pacira CEO David Stack has joined Coda’s board of directors. Versant and MPM had taken part in a $34m series A round for Coda that closed in late 2019, alongside pharmaceutical firms Novartis and Astellas, the latter through subsidiary Astellas Venture Management.
VinFast, the automotive manufacturing subsidiary of conglomerate VinGroup, led a $10m extension to a series B round for Israel-headquartered cybersecurity software developer Karamba Security yesterday, bringing it to $22m and taking the company’s total equity funding to $27m. The extension included Samsung Ventures and Presidio Ventures – on behalf of electronics producer Samsung and conglomerate Sumitomo – as well as insurer Liberty Mutual, cybersecurity software producer Asgent, YL Ventures, Fontinalis Partners, Glenrock and Paladin Group. The 2017 first close had included Liberty Mutual, Asgent and Presidio Ventures.
DexLevo, the South Korea-based creator of a liquid polymer filler, closed a KRW26bn ($22) pre-IPO round today featuring Hyundai Venture Investment Corp, a subsidiary of carmaker Hyundai. The round was also backed by Hana-Magna Growth Booster Fund, a joint venture for financial services provider Hana Financial and asset manager Magna Investment, as well as Smilegate Investment and Shinhan Capital.
US-based student finance provider Stride Funding completed a $12m series A round yesterday that included media and education group Graham Holdings. VC fund Firework Ventures led the round, which also featured Juvo Ventures and existing backers GSV Ventures, Slow Ventures and Sinai Ventures, all three of which joined Strada Education Network in a seed round of undisclosed size in late 2019. It added an undisclosed sum in a July 2020 round led by New U Venture Partners.
Taiwan-headquartered cryptocurrency cross chain aggregator XY Finance received $12m yesterday from investors including Yield Guild Games Ventures, a subsidiary of gaming guild Yield Guild, as well as payment technology provider Circle and blockchain app developer Animoca Brands. The consortium numbered more than 40 and also featured Infinity Ventures Crypto, Mechanism Capital, TRON Foundation, Block Capital and Morningstar Ventures.
The Demex Group, a US-based developer of climate-risk analytics software, secured $9m yesterday in a series A round co-led by QBE Ventures, the strategic investment arm of insurance firm QBE, with Anthemis Group and Blue Bear Capital. They were joined by IA Capital Group, which had co-led Demex’s $4.2m seed round in August 2020 with Anthemis.
VC firm Cultivation Capital led an $8m series B round for US-based online estate agent network Clever Real Estate on Wednesday that included mortgage lending network The Mortgage Collaborative’s Emerging Technology Fund. The company secured $500,000 from angel investors Bill Schmidt, Pat Steinlage and Bill Donius in April 2018, $1m from Cultivation Capital’s Spirit of St. Louis Fund seven months later and $3.5m in series A funding from Cultivation Capital and existing and individual investors in June 2019.
Oil and gas supplier Saudi Aramco’s Wa’ed subsidiary co-led a $5.5m seed round for Saudi Arabia-based business finance provider Lamaa on Wednesday. The round was co-led by Raed Ventures, the VC arm of holding group Almajdouie.
Delos Insurance Solutions, a US-based managing general agency focusing on catastrophe insurance, completed a $5.3m seed round on Wednesday that included Avanta Ventures, the strategic investment arm of insurance group CSAA. VC firm IA Capital led the round, which was also backed by Red Dog Capital, Futureland Syndicate and a syndicate of strategic investors led by Jonathan Crystal.
Integra Therapeutics, a Spain-based developer of gene writing tools intended to increase the efficiency and safety of therapeutics, secured €4.5m ($5.1m) yesterday in an inaugural funding round backed by pharmaceutical firm Takeda. The round included Advent France Biotechnology and Invivo Capital 1 while Takeda invested through corporate VC subsidiary Takeda Ventures.
Gozem, the Singapore-headquartered developer of a diversified mobile services app for Francophone Africa, has received $5m in a series A round featuring mobile top-up service TransferTo’s Thunes subsidiary, shipping firm Schulte Group’s Innoport unit and public transport operators SMRT, Grupo ADO and National Express (through Momentum Ventures, Liil Ventures and CMC Ventures respectively), TechCrunch reported yesterday. They were joined by AAIC Holdings and the round followed $7m in seed funding from investors including Plug and Play Ventures, Launch Africa, Bansea and Virtual Network according to TechCrunch.
Fast Beauty, the Japan-based operator of hair dye speciality store Fufu, raised ¥500m ($4.4m) today from investors including design agency Ideo’s D4V affiliate and Mizuho Capital, a subsidiary of financial services firm Mizuho Bank, which took part through its Mizuho Growth Support Fund 3. They were joined by NextBlue and angel investor Tōru Shimada, and the round came in the wake of an undisclosed amount from restaurant operator Toridoll’s Sonoko subsidiary in 2017.
Blockchain app developer Animoca Brands co-led a $4.3m seed round for Solace, a 3D metaverse developer with no official headquarters, with Three Arrows Capital and DeFiance Capital yesterday. The round included Solanium Ventures and KuCoin Labs – on behalf of crowdfunding service Solanium and cryptocurrency exchange KuCoin – as well as quantitative trading firm Alameda Research, boutique trading firm SkyNet Trading, crypto technology provider DAO Maker, decentralised finance technology developer Cropperbros Research, digital item marketplace Mintable, Genblock Capital, SkyVision Capital, Jump Capital, Solar Eco Fund, CMS Holdings, Maven Capital, Rhea Fund, a41 Ventures, ZBS Capital, Peech Capital, Icetea Labs, Double Peak Group, Rarestone Capital and DWeb3 Capital.
China-headquartered e-commerce aggregator Markai has completed a $4m seed round that included Sea Capital, a subsidiary of media, e-commerce and financial services group Sea, TechCrunch reported on Wednesday. The round was led by Pear VC and also featured Signia Venture Partners, Western Technology Investment, Graph Ventures and undisclosed angel investors. The equity funding was raised alongside ‘several millions of dollars’ in debt financing.
Talewind, a UK-based game studio focusing on the Roblox platform, has received $3.4m in funding from investors including blockchain app developer Animoca Brands, Gamesindustry.biz reported on Wednesday. It was joined by Firstminute Capital, Pro Founders, 1UP Fund, FJ Labs, Sequoia Scout Fund and Juha Paananen, founder and CEO of no-code game studio Soba Studios.
Japan Energy Fund, a vehicle backed by corporates Looop, Hokoriku Electric and Enechange, provided an undisclosed amount of funding for US-based energy market access provider Leap on Monday. The company’s total equity and debt financing stood at $44.5m as of a $33.5m series B round in October this year featuring National Grid Partners, which invested on behalf of energy provider National Grid, as well as Park West Asset Management, Climate Capital, My Climate Journey, Union Square Ventures, Congruent Ventures, Silicon Valley Bank and David Helgason.
Taiwan-based social commerce platform developer LinkBy secured just over $1.5m yesterday in an oversubscribed pre-series A round that included blockchain app developer Animoca Brands, Technode reported. VC firm Hive Ventures led the round, which also featured 18 other investors including Artesian Capital and individual backers Michelle Ho, Chu Huang-Wei and Ho Fei-Pen.
Brazil-based energy marketplace operator Clarke Energia has raised R$6.6m ($1.2m) in a funding round led by EDP Ventures Brasil, a corporate venturing subsidiary of energy utility EDP, Canal Energia reported on Wednesday. CSN Inova Ventures, a vehicle for steel producer CSN, also participated in the round, as did Niu Ventures, and it came in the wake of $600,000 in a May 2020 seed round led by Canary Ventures and backed by Fundação Estudar Alumni Partners.
GroverPay, the Singapore-based operator of an online alternative lending platform, revealed on Tuesday it has secured an undisclosed amount of funding from IT services firm Nityo Group’s corporate venturing unit, KFC Ventures. The deal is made up of cash and resources, and it was revealed alongside a partnership with lending analysis software provider TurnKey Lender.
Nigeria-headquartered digital insurance startup Octamile emerged from stealth on Wednesday with $500,000 in pre-seed funding from investors including automotive trading marketplace Trade X. The round was led by EchoVC and also featured Kesho VC, Verraki Partners and angel investors including Dale Mathias and Kyle Daley.
Estate agency AlRamz Real Estate Company led the inaugural funding round for Saudi Arabia-based property management software developer Dallali in October this year, the latter disclosed on Wednesday. The transaction included unnamed local angel investors and was AlRamz’s first corporate venturing deal.
Digital advertising agency Digital Advertising Consortium revealed today it was part of the $9.7m funding round disclosed by Japan-based digital sales software developer Basic yesterday. The round was led by VC firm One Capital and included Hakuhodo DY Ventures, the investment arm of public relations group Hakuhodo DY, as well as I-Nest Capital.
M&A
Digital experience software provider Optimizely agreed on Wednesday to purchase US-based marketing orchestration software developer Welcome in a deal of undisclosed size which will enable marketing group Dentsu and media company Digital First Media to exit. Dentsu joined InterWest Partners, Escalate Capital Partners, FTV Capital, Mayfield Fund, FirstMark Capital and Greycroft in a $20m series E round for the company – then known as NewsCred – in mid-2019. Digital First Media subsidiary Digital First Ventures had invested an undisclosed amount in Welcome in 2013 and its investors included IA Ventures, Floodgate, Advancit Capital and Lerer Hippeau.
Sony Pictures Television, a subsidiary of consumer electronics group Sony, paid an undisclosed amount for a majority stake in Bad Wolf, a UK television drama producer backed by broadcaster Sky. The deal came after Sky had supplied $2m in funding for Bad Wolf in 2017.
Additional reporting by Liwen-Edison Fu and Thierry Heles.
