Funding
Enterprise software producer Salesforce took part in a $250m series D round for US-headquartered data analytics software provider Starburst yesterday through subsidiary Salesforce Ventures. Investment adviser Alkeon Capital Management led the round, which valued the company at $3.35bn and which also featured Altimeter Capital Management, B Capital Group, Andreessen Horowitz, Coatue Management and Index Ventures.
Canada-based small molecule drug developer Ventus Therapeutics completed a $140m series C round yesterday co-led by telecommunications and internet group SoftBank’s Vision Fund 2, which is acquiring a board seat that will be taken by investment director John Cassidy. RA Capital Management co-led the round, which included internet and technology group Alphabet’s GV unit, real estate investment trust Alexandria Real Estate Equities’ Alexandria Venture Investments fund, Qatar Investment Authority, Andreessen Horowitz, BVF Partners, Casdin Capital, Cormorant Asset Management, Fonds de solidarité FTQ and Versant Ventures.
Bertelsmann Investments, a vehicle for media group Bertelsmann, joined Farallon Capital and Red River West today to add $30m to a series B round for Germany-based health assessment software provider Ada Health, increasing it to $120m. The $90m first tranche in May 2021 featured Leaps by Bayer, which invested on behalf of chemical and pharmaceutical producer Bayer, in addition to electronics provider Samsung’s Catalyst Fund, financial services firm Inteligo Bank, Vitruvian Partners, F4 and Mutschler Ventures.
Scopio Labs, an Israel-based developer of digital cell morphology technology, received $50m in series C funding yesterday from investors including medical device provider Ilex Medical and Mizrahi-Tefahot Bank Invest, a vehicle for financial services firm Mizrahi-Tefahot. The corporates were joined by OurCrowd, Aurum Ventures and undisclosed strategic and existing investors.
Salesforce Ventures, the investment arm of enterprise software provider Salesforce, has provided $20m for US-based data collaboration software developer Atlan’s series B round, which so far stands at $46m, DealStreetAsia reported yesterday. Sequoia Capital India and Insight Partners have each committed $13m to the round, according to regulatory filings.
US-headquartered data fabric software developer Context Labs completed a $28m funding round yesterday that included professional services firm KPMG and Equinor Ventures, the investment arm of power producer Equinor. They participated in the round alongside BP Energy Partners, Shamrock Ventures, Grantham Environmental Trust’s Neglected Climate Opportunities fund and i(x) investments.
Software producer Microsoft’s M12 subsidiary led a $25m series A round today for Wallaroo Labs, the US-based developer of a software platform which facilitates the creation and deployment of machine learning models. Ridgeline Partners and NSS Advisors also took part in the round, as did existing backers Boldstart Ventures, Contour Venture Partners, Eniac Ventures and Greycroft.
Day Zero Diagnostics, a US-based developer of therapeutics intended to combat antibiotic-resistant infections, closed a $21m equity financing round yesterday featuring medical device maker BD. The round increased the company’s overall equity funding to $33m and was led by Sands Capital and also backed by Panacea Venture, Hongkou Capital and existing investors including Triventures and Golden Seeds.
US-headquartered Bitcoin payment app developer OpenNode completed a $20m series A round on Tuesday that included social media company Twitter. The round was led by Kingsway Capital at a $220m valuation and it also featured investment and financial services group Fidelity’s Avon Ventures affiliate and angel investor Tim Draper.
Prisma Photonics, the Israel-based developer of an infrastructure monitoring software platform, received $20m in series B funding yesterday from investors including SE Ventures and Future Energy Ventures, which invested on behalf of energy and automation technology producer Schneider Electric and energy utility Eon respectively. Growth equity firm Insight Partners led the round, which lifted Prisma’s total funding past $30m.
Calamu, the US-headquartered developer of a data storage software platform based on virtual data harbours, secured $16.5m yesterday in a series A round featuring computing technology producer Dell’s investment arm, Dell Technologies Capital. The round was led by Insight Partners and followed an undisclosed amount from Dell Technologies Capital in June 2021.
Gradient Ventures, the artificial intelligence fund formed by internet technology provider Google, took part in a $14m series A round for US-based data programming tool developer PopSQL yesterday. Investment firm Tiger Global Management led the round, which was also backed by Y Combinator and FundersClub.
Duratex, the wood product manufacturer also known as Dexco, has invested R$74m ($13.7m) in Brazil-based modular construction services provider Brasil ao Cubo, Startupi reported last month. The cash was supplied through corporate venturing vehicle DX Ventures and followed $10.5m in funding from steel provider Gerdau in late 2020.
Splendid Spoon, the US-based operator of meal delivery service focusing on plant-based food and smoothies, completed a $12m funding round yesterday featuring Danone Manifesto Ventures, the strategic investment arm of packaged food provider Danone. Investment firm Nicoya led the round, which included Torch Capital and angel investors Alexis Ohanian, Jennifer Fleiss and Ashok and Meera Vasudevan.
Nilo Saúde, the Brazil-based developer of a healthcare communication software platform, has secured $10m in a series A round that included internet and telecoms group SoftBank’s Latin America Fund, LatamList reported last month. The corporate invested alongside Global Founders Capital, Tau Ventures, Maya Capital and Canary Ventures.
Brazil-based digital marketing agency Adventures raised R$50m ($9m) in series A funding from investors including e-commerce firm Mercado Libre in late 2021, Brazil Journal has reported. Provence Capital led the round at a valuation of roughly $80m and it also featured existing backers Atmos Capital, Navi and Arbor Capital as well as angel investors Matthew Derella and Adam Bain.
Mercado Libre also disclosed last month it has invested undisclosed amounts in two cryptocurrency-focused companies. The recipients were 2TM Group, the Brazil-headquartered owner of digital currency exchange Mercado Bitcoin, and Paxos, the Brazil-based developer of a blockchain infrastructure platform.
NFTGo.io, the US-headquartered operator of a data aggregation software platform for blockchain and gaming products, completed a $6.75m pre-series A round last week featuring decentralised application technology provider Mask.io and crypto lender Circle, it revealed on Tuesday. VC firm Qiming Venture Partners led the round, which was also backed by SeaX Ventures, Youbi Capital, Altonomy, Zonff Partners and Hash Global.
Snap, the holding company for messaging app Snapchat, supplied an undisclosed amount of funding for US-headquartered digital advertising services provider Aleph Group on Tuesday. The deal came seven months after private equity firm CVC Capital Partners invsted $470m in Aleph.
MonoAI raised ¥750m ($6.5m) last month from investors including consumer electronics producer Sony’s Innovation Fund, mobile marketing agency Adways and social app developer Ignis. The corporates invested alongside financial services group Tokyo Kiraboshi Financial’s Kiraboshi Capital Dream fund and GMCM Ventures.
Brazil-based online construction materials marketplace Oico has secured R$30m ($5.6m) in seed capital from investors including steel producer CSN, Baguete reported last month. Valor Capital Group led the round, which also featured Tiger Global Management and existing backers Maya Capital and FJ Labs as well as angel investor Jonathan Wasserstrum.
Media group Crain Communications provided an undisclosed amount of funding for US-headquartered digital sports media brand Front Office Sports at a $25m valuation on Tuesday. Crain acquired a 20% stake through the deal according to Bloomberg, which would put the size of the investment at $5m.
US-based sustainable herbicide developer Harpe Bioherbicide Solutions completed a financing round on Tuesday sized above $3m that was co-led by life sciences-focused real estate investment trust Alexandria Real Estate Equities through its Alexandria Venture Investments fund. The round was co-led with iSelect Fund Management and included AgriTech Capital and unnamed angel investors.
Tradelize, the Estonia-headquartered creator of a cryptocurrency trading terminal, has raised an undisclosed amount of post-seed funding from investors including digital currency exchange CoinW at a $13m valuation. NGC Venture, Digital Strategies, Crypto Venture Capital, Consensus Labs, NFV, JL Capital, 7 O’Clock Capital, Catcher VC, Mint Ventures, Cryptomeria Capital, Redline Capital and Kirin Fund filled out the round.
US-based supplier collaboration software startup Aramid Technologies received $2m on Tuesday from investors including TitletownTech, a joint venture formed by software producer Microsoft and American football franchise the Green Bay Packers. The round was led by angel investor Paul Winandy and also featured Synetro Ventures, Subconscious Ventures, Chicago Early, Lofty Ventures and undisclosed individuals.
Blockchain entertainment product developer Animoca Brands co-led a $1.75m seed round on Tuesday for So-Col, the Singapore-headquartered operator of a decentralised social media platform. The round was co-led with DeFiance Capital and included trading firm Kronos Research, Three Arrows Capital, Mechanism Capital, Global Founders Capital, Double Peak Group, Antifund and Genblock Capital.
Reverse Lab, the Japan-based owner of direct-to-consumer cosmetic brands Sirobari and Sirocos, raised about ¥200m ($1.7m) in funding today from investors including digital marketing group Diamond Fantasy. The corporate was joined in the round by undisclosed individuals.
M&A
Healthcare management software producer ModMed purchased Klara, the US-based developer of a communication software platform for medical patients, on Tuesday for an amount reported by Deutsche Startups to be about $100m, enabling internet technology provider Google to exit. Klara had raised $32m as of August 2020 when Google’s Gradient Ventures fund co-led a $15m round with Frist Cressey Ventures, investing alongside FirstMark Capital, Lerer Hippeau, Project A Ventures and Stage 2 Capital.
Commercial vehicle producer Volvo, petrol station equipment provider Gilbarco Veeder-Root and energy utilities Centrica and CEZ Group exited Driivz, an Israel-based developer of electric vehicle charging technology, on Tuesday through an acquisition of undisclosed size by transportation equipment maker Vontier. The company had raised at least $23m before Volvo added an undisclosed sum through subsidiary Volvo Group Venture Capital in March 2021.
Funds
Automotive component producer American Axle & Manufacturing provided $15m in capital for US-headquartered venture capital firm Autotech Ventures yesterday. The deal came after the firm received a similarly sized commitment from vehicle propulsion technology producer Allison Transmission last month.
Additional reporting by Liwen-Edison Fu.
