Funds
Venom Foundation, the creator of a Blockchain platform aimed at emerging markets, has teamed up with investment management firm Iceberg Capital to form a $1bn investment vehicle called Venom Ventures Fund. It will invest in developers of Web3 and decentralised applications from pre-seed to series A stage.
Bank of America has led the first tranche of US-based venture capital firm Mendoza Ventures’ third fund, which has a target of $100m for its final close. Another financial services firm, Grasshopper Bank, also contributed to the tranche along with unnamed others.
M&A
Pharmaceutical firm BioNTech has agreed to pay £362m ($440m) to acquire portfolio company InstaDeep, a UK-headquartered developer of artificial intelligence software for decision making. It had raised at least $107m as of a $100m series B in January 2022 featuring internet technology producer Google, artificial intelligence technology provider Group 42 and Deutsche Bahn Digital Ventures, part of public transport operator Deutsche Bahn. The deal could potentially include future performance-based milestone payments of up to £200m.
Funding
Original automotive equipment manufacturer Mando Corporation has provided an undisclosed amount of funding for iPin Labs, a creator of artificial intelligence-based indoor navigation technology, as well as self-driving software provider Nabifra and Multiple Eye, which provides cameras for 3D mapping. The investments were part of the HL Mando Mobility Techup Plus’ Season 4 programme, launched with accelerator operator Future Play in May last year.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Oxbotica | Autonomous vehicle software developer | Transport | UK | C | 140 | 10/01/2023 | MS&AD Insurance Group (Aioi Nissay Dowa Insurance), Eneos (Eneos Innovation Partners), Halma, Ocado Group, Tencent, ZF Group; BGF, Hostplus, Venture Science, IP Group (Kiko Ventures) |
| Xpansiv | Environmental market-focused infrastructure provider | Industrial | US | N/A | 125 | 11/01/2023 | Bank of America, Goldman Sachs |
| NextPoint Therapeutics | Immuno-oncology treatment developer | Healthcare | US | B | 80 | 10/01/2023 | Bayer (Leaps by Bayer) (co-lead), Sanofi (Sanofi Ventures) (co-lead), Dana-Farber Cancer Institute (Binney Street Capital); Invus, Catalio Capital Management, Sixty Degree Capital, PagodaTree Partners, MPM Capital Management, Gordon Freeman |
| Peppy | Enterprise health services provider | Healthcare | UK | B | 45 | 11/01/2023 | Sony (Sony Innovation Fund), Simplyhealth; AlbionVC (lead), Kathaka, MTech Capital, Felix Capital, Hambro Perks, Outward VC, Seedcamp |
| Hystar | Hydrogen production electrolyser developer | Energy and Natural Resources | Norway | B | 26 | 11/01/2023 | Mitsubishi Corporation, Nippon Steel Trading, Sintef/NTNU (Sintef Ventures); AP Ventures (co-lead), Finindus, Hillhouse Investment, Trustbridge Partners, Firda |
| Censinet | Healthcare risk management software provider | Healthcare | US | N/A | 9 | 11/01/2023 | MemorialCare Health System (MemorialCare Innovation Fund) (co-lead), UNC REX Healthcare (Rex Health Ventures) (co-lead), Cedars Sinai; Ballad Ventures (co-lead), LRVHealth, HLM Venture Partners, Schooner Capital, Excelerate Health Ventures |
| Visolis | Carbon-negative biomaterial manufacturer | Industrial | US | Seed | 8 | 11/01/2023 | Zeon Corporation (Zeon Ventures); BlueYard Capital (lead), Global Brain, First Bight, Acequia Capital |
| Jumppoint | Logistics services provider | Services | China (Hong Kong) | A | 6.5 | 12/01/2023 | Chinachem Group; MindWorks Capital (lead), Headline Asia, Philip Kuai, Hong Kong SAR Government (Innovation and Technology Venture Fund) |
| Open Forest Protocol | Blockchain-based forest measurement technology provider | Industrial | Switzerland | Pre-seed | 4.1 | 11/01/2023 | Byzantine Marine; Shima Capital, Übermorgen Ventures, Not Boring Capital, Mercy Corps (Mercy Corps Ventures), Big Brain Holdings, Valor Capital, unnamed angel investors |
| ReferWell | Healthcare scheduling software producer | Healthcare | US | B | N/A | 10/01/2023 | Essen Health Care (Essen Ventures); Viewside Capital Partners (lead), Health Catalyst Capital, Connecticut Innovations |
| Payex | Licensed payment gateway provider | Financial | Indonesia | N/A | N/A | 11/01/2023 | Xendit |
| FocalPoint | GPS software provider | Transport | UK | N/A | N/A | 05/01/2023 | General Motors (GM Ventures) |
| ICS-Net | Operator of ingredient search service Shareshima | Consumer | Japan | N/A | N/A | 12/01/2023 | AirTrip, Creek & River (C&R Incubation Lab), Ashitaba Mirai |
