Funding
Pecan AI, a US-based provider of artificial intelligence-equipped predictive analytics for use in business intelligence, secured $66m in series C funding yesterday from investors including GV and Dell Technologies Capital, which took part on behalf of internet and technology group Alphabet and computing technology producer Dell. Growth equity firm Insight Partners led the round, which was also backed by S-Capital, GGV Capital, Mindset Ventures and Vintage Investment Partners.
GV also invested an undisclosed amount in US-headquartered cybersecurity technology provider Lacework yesterday. Lacework’s total funding stood at roughly $1.9bn as of November 2021, when it raised $1.3bn from investors including mass media group Liberty Global and data software provider Snowflake at an $8.3bn valuation.
STV, the venture capital firm backed by telecommunications firm Saudi Telecom, co-led a $50m funding round for Saudi Arabia-based on-demand groceries provider Nana yesterday. The round was co-led by investment management firm FIM Partners and included food delivery service Jahez, pastry producer Sunbulah Group, Quencia Capital, Faith Capital, MEVP and Impact46.
UK-based enterprise communication app developer Flip secured $30m yesterday in a series A round co-led by HV Capital, the VC firm backed by publisher Holtzbrinck. VC firm Notion Capital co-led the round, which included existing backers Cavalry Ventures and LEA Partners in addition to angel investors Matthias Müller, Roland Berger, Jürgen Hambrecht, Fritz Österle, Kurt Lauk, Daniel Krauss and Jochen Engert.
Hiretual, the US-based developer of an online recruitment platform which utilises artificial intelligence, rebranded to HireEZ yesterday having completed a $26m funding round led by Conductive Ventures, the VC firm funded by electronics manufacturer Panasonic. The company had raised $5m in a 2018 round led by Northern Light Venture Capital before Oceanpine Capital led an earlier series B round in August 2020 the company said took its overall funding to $23m.
Insurance firm Allianz led a $21m funding round for UK-headquartered derivatives analytics provider OpenGamma yesterday through digital investment vehicle Allianz X. The company’s total funding stood at over $48m as of a $10m investment by investors including futures and exchange operator CME Group’s corporate VC unit, CME Ventures, in 2019.
LEX Markets, the US-based operator of a real estate securities marketplace, received $15m in series A financing from investors including financial services firm Mitsubishi UFJ Financial Group’s MUFG Innovation Partners unit yesterday. Investment firm Peak6 Investments led the round through its Peak6 Strategic Capital subsidiary and was also joined by Khosla Ventures, Two Lanterns and Gaingels.
Clean energy technology producer Enersense International is investing €13m ($14.7m) in Finland-based clean hydrogen provider P2X Solutions, it confirmed yesterday. It also intends to supply €70m for P2X’s construction of a green hydrogen production plant in the Finnish town of Harjavalta.
US-based security automation software developer Cerby has secured $12m from investors including identity authentication technology provider Okta and enterprise software producer Salesforce, VentureBeat reported yesterday. The corporates took part through Okta Ventures and Salesforce Ventures, joining Ridge Ventures, which led the round, Founders Fund and private investor Gokul Rajaram.
Soelect, a US-headquartered producer of advanced materials for use in electric vehicle batteries, raised $11m from investors including Lotte Ventures and GM Ventures, on behalf of conglomerate Lotte Group and automotive manufacturer General Motors, Korea Herald reported today. Investment firm KTB Network also participated in the round.
Conglomerate Heritage Group led US-based biodegradable oil provider Biosynthetic Technologies’ $7.5m series A-1 round yesterday through VC fund HG Ventures. The unit had also led Biosynthetic’s $9.5m series A round in 2019.
Run.Edge, the Japan-based developer of a video analytics software platform, closed a ¥770m ($6.7m) pre-series B round today featuring Asics Ventures Corporation, KDDI Open Innovation Fund 3, SMBC Venture Capital and Okasan Capital Partners, on behalf of sporting apparel brand Asics, telecoms firm KDDI, financial services firm Sumitomo Mitsui Banking Corporation and brokerage Okasan Securities respectively. W Ventures filled out the round together with East Investment Capital’s CiP Fund.
CryptoTrader.Tax, the US-based developer of a tax-reporting service geared at cryptocurrency and non-fungible token traders, rebranded itself to CoinLedger yesterday, also announcing $6m in financing from investors including crypto trading app developer Voyager Digital, CMT Digital and DRW Venture Capital – the last two on behalf of trading firms Capital Markets Trading and DRW Trading. They were joined by FinTech Collective, Volt Capital and angel investors Adam White and Mike Dudas.
Synapticure, the US-based creator of a personalised care system for amyotrophic lateral sclerosis patients, emerged from stealth yesterday having raised $6m in a funding round led by GV, the subsidiary of internet and technology group Alphabet formerly known as Google Ventures. LifeForce Capital, Martin Ventures, Byers Capital and Y Combinator also contributed to the round.
Video game publisher Krafton provided $5.4m in funding today for Nautilus Mobile, an India-based mobile game studio spun off by digital entertainment producer JetSynthesys. Nautilus is the creator of cricket game franchise Real Cricket.
Blackstone Innovation Investments, the strategic investment arm of investment management firm Blackstone, led a $4m funding round yesterday for LemonEdge, the UK-based developer of a low-code accounting software platform. It was joined by existing backers including Sidekick Partners and angel investors Lauren Iaslovits and Tikhon Bernstam, bringing the company’s overall funding to $7m.
KPN Ventures, the corporate venturing vehicle for telecoms firm KPN, provided an undisclosed amount of series C funding for UK-based cloud cybersecurity software developer Censornet yesterday. Talis Capital had led the company’s $3m series A round in 2015 before digital security technology producer Entrust – then known as Entrust Datacard – invested an undisclosed amount three years later.
NachoNacho, the US-headquartered owner of an online marketplace for software-as-a-service products, completed a $3m seed round on Wednesday that included media group Penske Media Corporation. Investment management firm Altair Capital led the round, which also featured Moving Capital, S16VC and undisclosed others.
Diamond provider De Beers co-led a $3m seed round for US-based customisable jewellery brand Gemist yesterday through corporate VC subsidiary De Beers Group Ventures. The round was co-led by VC fund Entrada Ventures and the company also named Hawke Ventures, Luma Launch, Lightspeed Scout Ventures, Mana Ventures, Spacestation Ventures, Kinsley Partners, Lunch Partners and Canaan Scout Fund as investors.
Voldex, a developer of user-generated gaming content that has no fixed address, received $3m in funding from investors including user experience design consultancy Pow Interactive yesterday. The round was led by Dune Ventures and also featured Makers Fund and undisclosed other investors.
Polyolefin provider Braskem supplied an undisclosed amount of funding for US-based plastics recycling technology developer Nexus Circular on Wednesday. The company had received a similarly undisclosed sum from sustainable packaging producer Printpack last month.
Aeye Security Lab, the Japan-based creator of security testing automation tool AeyeScan, has raised ¥300m ($2.6m) today from investors including enterprise software producer Salesforce and education services provider Globis, which invested through Salesforce Ventures and G-Startup Fund respectively. VC firm Anri also contributed to the round.
Mobile game developer Playrix invested an undisclosed sum in Russia-headquartered mobile game publisher AppQuantum on Wednesday. The cash was provided through a partnership agreement which will involve the companies collaborating on marketing, production and mobile gaming analytics.
Cauldron, a UK-based mobile game developer spun off by banking software producer Thought Machine, secured $1.4m yesterday in a funding round led by Seedcamp. The round was also backed by IQ Capital and Playfair Capital, both of which had joined Draper Esprit to invest an undisclosed amount in the company in September 2021.
Toy Medical, a Japan-based provider of patented supplements that help suppresses salt absorption, raised an undisclosed amount from food and property group Yamae Group Holdings today. The company had previously received an undisclosed amount from drug producer Rohto Pharmaceutical and consultancy Leave a Nest in 2018.
Datacultr, the United Arab Emirates-based developer of a debt collection software platform, received $1m from investors including consulting firm NP Consulting yesterday. Sturgeon Capital led the round, which also featured Seedstars International and Startupbootcamp Fintech.
Electronics retailer Bic Camera provided an undisclosed amount of funding for Japan-based educational robot developer Living Robot today. The cash was invested in connection with a strategic partnership agreement.
Engineer training services provider Gizumo supplied an undisclosed amount for Donbler, the Japan-based creator of an online programming learning platform, today, through a strategic alliance deal.
Public Markets
MariaDB, a US-based provider of open source database software that counts e-commerce firm Alibaba and semiconductor technology producer Intel as investors, agreed yesterday to list on the New York Stock Exchange through a merger with special purpose acquisition company Angel Pond Holdings Corporation. The deal gives MariaDB an implied pro forma valuation of $672m and follows over $125m in venture funding as of mid-2020. The deal is being boosted by $104m in series D financing from a consortium including unnamed existing backers and $18m in private investment in public equity financing from undisclosed investors.
Additional reporting by Liwen-Edison Fu.
