Funding
Shanghai Eigencomm Technologies, a China-headquartered developer of 5G mobile communication chips, raised RMB1bn ($157m) yesterday in a series C round led by internet and telecommunications group SoftBank. The round included investment bank GF Securities’ GF Qianhe Investment vehicle, Cathay Capital, CoStone Capital, Chobe Capital and existing backers Qiming Venture Partners, Fellow Partners, Xingwang Investment and China Universal Asset Management.
Quantitative crypto trading firm Alameda Research took part in a CHF110m ($120m) series C round for Switzerland-based digital banking platform developer Seba Bank yesterday. Decentralised finance investment firm DeFi Technologies said it supplied CHF25m to co-lead the round, which also featured Altive, Ordway Selections, Summer Capital and existing investors including wealth management firm Julius Baer.
US-based battery storage technology developer Viridi Parente received $94.7m in series C funding on Tuesday from investors including Ashtead Group, the operator of industrial equipment rental service Sunbelt Rentals, and National Grid Partners, the corporate venturing subsidiary of energy provider National Grid. The round was led by private investor B Thomas Golisano at a $700m valuation.
US-headquartered identity verification software provider Merit secured $50m yesterday in a series B round that included credit ratings provider Experian’s strategic investment arm, Experian Ventures. The round was led by Rose Park Advisors and also backed by Andreessen Horowitz, Bow Capital, Govtech Fund, Spike Ventures, InState Capital, Metaplanet Holdings and private investors Ricardo Villela Marino and Ram Shriram. Merit said it has now raised $50m in total.
Zhejiang EVTech, a China-based provider of power supply technology for new energy vehicles, has closed RMB300m ($47.1m) in series D funding from investors including consumer electronics producer Xiaomi’s Hubei Xiaomi Changjiang Industry Fund, DealStreetAsia reported yesterday. It completed the second tranche following initial funding from semiconductor producer CR Micro, textile provider Hongda High-Tech Holding and Huaqiang Capital in November 2021.
A fund formed by automotive manufacturer SAIC and investment banking group China International Capital Corp co-led a financing round for China-headquartered autonomous mining technology producer Waytous yesterday sized at almost RMB300m ($47.1m), DealStreetAsia reported. Financial services firm Bank of China’s Bohai Zhongsheng affiliate fund also took part, as did Yuexiu Industrial Fund.
Boosted.ai, a Canada-based developer of software which uses artificial intelligence to help manage investment portfolios, completed a $35m series B round yesterday that included financial services firm Royal Bank of Canada. Growth equity firm Ten Coves Capital led the round, which also featured Portage Ventures, Spark Capital and HarbourVest Partners, taking its total funding to $46m.
China-based online design platform developer Chuangkit has received tens of millions of dollars in series B financing from investors including enterprise software producer Kingsoft Office, China Money Network reported today. The round also featured venture capital firm and fellow existing investor Gobi Partners.
Singapore-headquartered digital wallet technology developer Web3Auth secured $13m yesterday in a series A round featuring crypto derivatives exchange FTX, Bitcoin services provider Bitcoin.com, blockchain consulting firm Chainstry, Web3 infrastructure provider Staking Facilities and licensed product manufacturer Minted Labs. The round was co-led by Sequoia Capital India, Union Square Ventures and Multicoin with additional backing from Darma Capital, Hash, Kosmos Capital, Kyros Ventures, LD Capital, P2P Capital, Phoenix VC, YBB Capital, Moonwhale Ventures and Decentralab.
The Helper Bees, a US-based company which oversees an online marketplace of services that allow users to age at home, raised $12.8m yesterday in a series B round featuring Northwestern Mutual Future Ventures, a subsidiary of financial services firm Northwestern Mutual Future Ventures. VC fund Trust Ventures led the round, which included Silverton Partners, Impact Engine and Congress Avenue Ventures.
Microfinance provider Axian Financial Services contributed to a $12m pre-series A equity and debt round for LipaLater, the Kenya-headquartered operator of an online consumer credit platform, TechCrunch reported yesterday. Cauris Finance, Lateral Frontiers VC, GreenHouse Capital, SOSV and Sayani Investments also took part in the round.
Banxware, a Germany-based provider of embedded digital lending services, received €10m ($11.3m) from investors including financial services firm Varengold Bank yesterday in the form of an extension to its seed round. The tranche was led by Element Ventures and also featured D4 Ventures, FinVC, Force over Mass Capital, VR Ventures, High-Tech Gründerfonds (HTGF) and angel investors Jan Kaniess, Carl Frederic Zitscher, Alex Urdea and Paula Blazquez Solano. It followed $4.8m from Force Over Mass, VR Ventures and HTGF in February 2021.
Singapore-headquartered social commerce platform developer Raena has secured $10m in series A funding from investors including convenience store chain Alfamart, which invested $1m, DealStreetAsia reported yesterday, citing a regulatory filing. Alpha Wave Incubation led the round with a $5.6m investment while AC Ventures provided $3m and Watiga Trust $400,000. The round valued it at $81m.
Fintech Farm, a UK-headquartered company developing a series of digital banks in emerging markets, has secured $7.4m in seed capital from investors including online marketplace Jiji, TechCrunch reported today. The round was co-led by Flyer One Ventures and Solid and also featured TA Ventures, U.ventures and AVentures Capital.
Quantitative trading firm Susquehanna International Group (SIG) has led a $7m funding round for Singapore-based retail data analytics provider Omnistream, DealStreetAsia reported on Tuesday. The amount consisted of $5m in primary funding and $2m in secondary share sales across seed and series A rounds, according to a regulatory filing, and SIG was joined by food delivery service Delivery Hero’s DX Ventures unit, Spiral Ventures, Wavemaker Partners and undisclosed angel investors.
Singapore-based autonomous mobile robotics developer Sesto Robotics raised $5.7m from investors including industrial equipment supplier World Trading Inovation today. It was joined in the round by the Singaporean government-owned Seeds Capital and VC firm Trive.
Heat, a UK-based mystery box provider focusing on streetwear, completed a $5m seed round today backed by luxury consumer goods group LVMH’s strategic investment arm, LVMH Luxury Ventures. VC firm Antler also invested in the round, as did individuals including Stefano Rosso, the Hermès family, Michael Mitterlehner, Oliver Merkel and Sven Ahrens.
Payment services firm JCB International invested $5m in Malaysia-based digital payment platform developer Soft Space today through a strategic partnership agreement. Soft Space had previously received $5m from e-commerce services firm TransCosmos in 2017 and an undisclosed amount of series B funding from payment services provider Sumitomo Mitsui Card Company the following year.
2TM, the parent company of digital currency exchange Mercado Bitcoin, has taken part in a R$23m ($4.1m) seed round for Brazil-headquartered digital commodity exchange Gavea Marketplace, Coin Telegraph reported yesterday. VC firm Astella led the round, which also featured an unnamed family office and two undisclosed private investors.
Vie Style, a Japan-headquartered developer of brain wave meter earphones and intelligent neurotechnology, secured ¥180m ($1.6m) today from investors including AIX Tech Ventures, the corporate venturing arm of human resources technology provider AIcross. The round was also backed by financial services firm Shizuoka Bank and its Shizuoka Capital subsidiary as well as Fintech Global, Fundinno and unnamed private investors.
M&A
Heat, ventilation and air conditioning equipment producer Johnson Controls closed the purchase of FogHorn, a US-based developer of software for industrial internet-of-things systems, for an undisclosed amount yesterday, allowing computing technology producer Dell, chipmaker Intel, oil and gas supplier Saudi Aramco, industrial and commercial technology provider Honeywell and industrial technology manufacturers Yokogawa Electric, General Electric and Robert Bosch to exit. FogHorn’s total funding stood at $72.5m as of a $25m series C round in early 2020.
Financial services group Western & Southern Financial acquired US-based, family-focused insurance provider Fabric Technologies yesterday in a deal of undisclosed size providing exits for electronics producer Samsung, financial technology provider Securian and insurers CNO Financial, Reinsurance Group of America, Guardian Life and Nippon Life. Fabric last raised money in an $18m series B round led by CNO in late 2020, increasing its overall funding to $30.5m.
Medical administration software provider Doctolib is acquiring France-based medical data protection technology provider Tanker in a stock and cash transaction sized between $28m and $34m, TechCrunch reported on Tuesday, citing legal documents. The deal marks an exit for insurance groups Axa and Allianz, both of which invested in a $7.2m round for the company in 2017 through respective subsidiaries Axa Strategic Ventures and InnovAllianz, bringing its total funding to $8.8m.
Higher education technology provider Ellucian agreed on Tuesday to purchase CampusLogic, a US-based student finance platform developer backed by student loan provider Great Lakes Higher Education, for an undisclosed amount. Great Lakes took part in the company’s $7.5m series A round in 2015 alongside Continential Investors, University Ventures, Select Venture Partners and Peak Venture Capital that was complemented with a $10m series B led by 4.0 Partners in 2017.
Financial services firm ING has exited Bright Computing, a Netherlands-based developer of high-performance computing technology, in an acquisition of undisclosed size by graphics chip producer Nvidia. ING’s Corporate Investments unit invested an undisclosed amount in the company in 2010 and returned four years later for a $14.5m series B round co-led by DFJ and DFJ Esprit that included Prime Ventures.
Digital currency exchange Coinbase is paying an undisclosed amount to purchase FairX, a US-headquartered derivatives exchange backed by digital trading platform developer TD Ameritrade, market maker Virtu Financial and XTX Ventures, the investment arm of algorithmic trading firm XTX Markets. FairX raised $7.5m in May 2021 according to a securities filing, the same month it revealed TD Ameritrade, Virtu and XTX as investors along with Hyde Park Venture Partners, Battery Ventures and Limerick Hill.
Cybersecurity technology provider Proofpoint has closed its purchase of Dathena, a Singapore-based developer of artificial intelligence-powered personal data protection software, for an undisclosed sum, providing an exit for insurance group MS&AD. The corporate’s MS&AD Ventures unit most recently took part in Dathena’s $12m series A round, in mid-2020, which was led by Jungle Ventures and also backed by CerraCap Ventures, VC fund CapHorn and Seeds Capital.
Media group Bertelsmann exited US-based customer analytics software developer Indicative yesterday in an acquisition of undisclosed size by customer data software provider mParticle. The corporate’s Bertelsmann Digital Media Investments unit had joined Acadia Woods and assorted individuals in the company’s $2m seed round in 2014.
Funds
Electric propulsion technology producer Allison Transmission supplied $15m in capital for US-headquartered, mobility-focused venture capital firm Autotech Ventures yesterday. The deal is intended to increase Allison’s exposure to innovative technology, the corporate said.
GKG Ventures, the corporate venturing vehicle for Netherlands-headquartered financial services conglomerate Global Kapital Group, formed a collaboration agreement with Turkey-based VC firm Bogazici Ventures yesterday. The two will combine to jointly invest in financial technology developers through the partnership.
Marketing network operator Stagwell provided an undisclosed amount of capital for US-based VC firm Hannah Grey yesterday. Hannah Grey is a seed-stage firm concentrating on customer-focused startups and represents part of a Stagwell strategy to strengthen its access to a wider range of digital marketing services.
Additional reporting by Liwen-Edison Fu and Fernando Moncada Rivera.
