Funding
US-based digital mental healthcare provider Lyra Health closed a $235m financing round yesterday that included Salesforce Ventures, the corporate venture capital arm of enterprise software producer Salesforce. The round was led by investment firm Dragoneer and also featured investment manager and existing backer Coatue Management. Lyra was valued at $4.6bn as of a $200m round in June 2021 that increased its overall funding to $655m.
Iterative Scopes, a US-based developer of precision gastrointestinal disease treatments, secured $150m yesterday in a series B round featuring pharmaceutical firms Johnson and Johnson and Eli Lilly, the former investing through Johnson and Johnson Innovation – JJDC. It was co-led by Insight Partners and Clearlake Capital Group and included Obvious Ventures, Breyer Capital and undisclosed others.
Ceptur Therapeutics, a US-based developer of targeted oligonucleotide therapeutics, launched yesterday with $75m in series A funding from investors including pharmaceutical firm Bristol Myers Squibb. The round was co-led by Qiming Venture Partners and VenBio Partners and also featured Perceptive Advisors’ Xontogeny Venture Fund, Janus Henderson, Affinity Asset Advisors, Boxer Capital and LifeSci Venture Partners. It followed a $6.2m seed round in August 2020, according to a securities filing, and Affinity Asset Advisors, Boxer Capital and LifeSci Venture Partners were identified as investors this week.
PlanRadar, an Austria-based developer of digital field management technology, received $69m yesterday in a series B round featuring newspaper publisher Russmedia. The round was co-led by Insight Partners and Quadrille Capital and also backed by financial services firm Berliner Volksbank’s VC arm, Berliner Volksbank Ventures, as well as Headline, AWS Gründerfonds, Cavalry Ventures, Proptech1 and GR Capital.
US-headquartered additive manufacturing technology developer Seurat Technologies increased its series B round to $62m yesterday, adding $21m from investors including carmaker Porsche and Xerox Ventures, the corporate VC arm of printer producer Xerox. They joined SIP Global Partners, Capricorn’s Technology Impact Fund, True Ventures and Maniv Mobility in the extension, which followed a June 2021 first close led by Capricorn and backed by Porsche and fellow corporate investors Siemens Energy, Denso and GM Ventures.
Germany-based primary care access provider Wellster Healthtech Group closed a series B round featuring medical product manufacturer Dermapharm and media company ProSiebenSat.1 at $60m on Tuesday. Claret Capital and Mangrove Capital Partners added $20m to the $40m first tranche, which was led by ProSiebenSat.1’s SevenVentures unit and backed by Dermapharm and HV Capital, the VC firm backed by publisher Holtzbrinck, in June 2021.
India-based digital payment software provider M2P Fintech has secured $56m in a series C round that included financial services firm Mitsubishi UFJ Financial Group’s MUFG Innovation Partners subsidiary. The round valued the company at $605m according to TechCrunch and it was led by Insight Partners with backing from existing investors Tiger Global Management and Better Capital.
HappyCo, the US-based developer of an operation management software platform for property owners, completed a $52m funding round yesterday featuring Masco Ventures, the VC arm of home improvement product maker Masco, as well as construction firm BAM, property renter Berger Rental Communities and real estate developers Standard Communities, Wermers Companies, Mark-Taylor and Klein Enterprises. The round was led by Camber Creek and included real estate investment managers Embrey Partners, Continental Realty Corporation, Strata Equity Group and CA Ventures, Vesta Ventures, Koman Group, Pier 88 Investment Partners and Bonaventure.
Freight and logistics service provider ArcBest invested $25m to lead a $42m funding round yesterday for Phantom Auto, a US-based developer of logistics vehicle management software, yesterday. Logistics service provider NFI, Bessemer Venture Partners, Maniv Mobility, OurCrowd and Perot Jain also took part, as did existing backers including private investor Max Blankfeld.
Foresight Group, the US-based operator of an insurance offering that involves improving worker safety for its clients, completed a $39m series B round yesterday featuring internet company Digital Garage, which invested through its Digital Garage Ventures subsidiary. Omers Ventures, the VC arm of pension fund manager Omers, led the round, which included George Kaiser Family Foundation and existing investors Brick and Mortar Ventures and Builders VC, lifting Foresight’s total funding to $59m.
BlockFills, a US-based developer of digital asset trading technology, raised $37m yesterday in a series A round that included crypto finance services provider Nexo as well as financial exchange operator CME Group and quantitative trading firm Susquehanna International Group, which invested through CME Ventures and Susquehanna Private Equity Investments respectively. They joined Simplex Ventures, C6E and several unnamed others in the round.
Thailand-based fashion e-commerce platform developer Pomelo has secured $34m from investors including Suntory One, part of whiskey producer Suntory. The round also featured Prime Glaxious Enterprises, Marganit International and InterVest’s Star SEA Growth Fund, and the cash was raised in advance of a planned initial public offering.
Xcell Biosciences, a US-based developer of cell and gene therapy research technology, received $27.5m in series B financing yesterday from investors including clinical laboratory operator Labcorp. Investment firm Casdin Capital led the round, which also featured Dynamk Capital, Formic Ventures, HBM Genomics and Viking Global Investors.
Internet technology provider Google’s Africa Investment Fund was among the investors in a $20m extension to South Africa-based mobile content provider Carry1st’s series A round yesterday, bringing it to $26m in total. Andreessen Horowitz led the second tranche, which included Avenir and unnamed individuals as well as video game studio Riot Games, Konvoy Ventures, Raine Ventures and TTV Capital, all of which had contributed to the round’s May 2021 first close.
Hikma Ventures, the investment arm of pharmaceutical firm Hikma, led the $11m third tranche of a series A round for NuvoAir, the US-based creator of a digital platform for chronic disease management, yesterday, increasing it to $25m. The latest close included an undisclosed strategic investor and unnamed existing backers, and it followed a $12m second tranche in June 2021 led by AlbionVC and backed by pharmaceutical firm Novartis’s dRx Capital vehicle, Kaya, Amino Collective, Spiltan and Industrifonden.
Germany-headquartered synthetic fuel technology developer Ineratec has closed at least $20m in series A financing from investors including Safran and energy utility Engie, which took part through Safran Corporate Ventures and Engie New Ventures respectively. They were joined by MPC Capital, Extantia, Planet A, High-Tech Gründerfonds, FO Holding and Karlsruhe Institute of Technology.
Financial services firm Commerzbank has led a $19m funding round for Sweden-based climate-friendly banking service Doconomy through its CommerzVentures unit. The round included Ikea franchisee Ingka Group and financial services group Citi – through Ingka Investments and Citi Ventures respectively – as well as payment services firm Mastercard and financial services firm Ålandsbanken.
Coinhouse, a France-based cryptocurrency management and transaction service provider spun off by crypto wallet developer Ledger, raised $17m on Tuesday in a series B round led by $5.7m from VC firm True Global Ventures 4 Plus. The round included blockchain software provider ConsenSys, CF Partners, XAnge, Raise Ventures, Expon Capital and private investors including Eric Larchevêque.
Beijing Pharbers Genesis Pharmaceutical Technology, a China-based developer of therapeutics for cancer and neurodegenerative disorders, has raised almost RMB100m ($15.8m) in a pre-series A round that included electromechanical equipment manufacturer Beijing Xinghang, DealStreetAsia reported yesterday, citing a company statement. YuanBio Venture Capital led the round, which was also backed by Shunwei Capital and Taiyu Ankang Investment.
Quantitative trading firm Susquehanna International Group has led a series B round of undisclosed size for China-headquartered skincare brand Cka Beauty, DealStreetAsia reported yesterday, citing a company statement. Existing backers Shunwei Capital, Buer Capital and shoemaker Bell International also participated, the last through its consumer fund.
Poap, the US-based creator of a digital proof-of-attendance tool, completed a $10m seed round on Tuesday featuring cryptocurrency research firm Delphi Digital. The round was co-led by Archetype and Sapphire Ventures’ Sapphire Sport fund and it included Collab+Currency, 1KX, Libertus Capital, Red Beard Ventures, 6th Man Ventures, Sound Ventures, Advancit Capital, The Chernin Group and approximately 50 angel investors.
StructionSite, a US-based developer of construction project tracking software, has doubled its overall funding to $20m with $10m from investors including general contractor PCL Construction and conglomerate GS Group’s GS Futures subsidiary, VentureBeat reported yesterday. They were joined by 500 Global (formerly 500 Startups) and undisclosed existing backers.
Consumer electronics producer Sony and financial services provider SBI Group combined to supply ¥1bn ($8.8m) in series B funding for Ascent Robotics, a Japan-based developer of automation software for logistics robotics. The company had received an undisclosed amount from industrial machinery producer Yamazen in March 2021, three years after raising $10.4m in a series A round led by SBI subsidiary SBI Investment.
Integriculture, the Japan-based developer of a cell culture technology product dubbed CulNet System, raised ¥780m ($6.8m) today in a series A round featuring online supermarket Oisix Ra Daichi’s Future Food Fund, restaurant operator En-Rest’s Kemuri Ventures unit and hospitality group Plan-Do-See. They were joined by Iyogin Capital, Resona Capital, SuMi Trust Innovation Fund and Yamaguchi Capital – on behalf of of financial services firms Iyo Bank, Resona, Sumitomo Mitsui Trust Bank and Yamaguchi Financial Group – AgFunder, Beyond Next Ventures, Real Tech Fund and VU Venture Partners.
Blockchain entertainment technology provider Animoca Brands led a $5.5m seed round yesterday for Infinity Force, the Singapore-based developer of a management software platform for play-to-earn gaming. The found included OKEx Blockdream Ventures, a subsidiary of digital currency exchange OKEx, as well as crypto trading firm GSR, crypto exchange MEXC, Jump Capital, Sky Vision Capital, Double Peak Group, Token Bay Capital, DWeb3 and undisclosed others.
Senegal-based logistics service provider Paps has secured $4.5m in a pre-series A round co-led by telecommunications firm Orange and VC firm 4DX Ventures, TechCrunch reported yesterday. Motorised vehicle producer Yamaha Motor also participated in the round, as did LoftyInc Capital, Proparco, To.org, Kepple Ventures, Enza Capital and existing investors Uma Ventures and Saviu Ventures.
Vietnam-based blockchain gaming guild Ancient8 closed a $4m seed round yesterday featuring quantitative trading firm Alameda Research, automated market maker Raydium, blockchain entertainment provider Animoca Brands, blockchain technology producer GuildFi, blockchain gaming guild Chromia and cryptocurrency developer Sipher as well as Coinbase Ventures and Coin98 Ventures, on behalf of crypto trading exchange Coinbase and crypto software provider Coin98 Finance. The round was co-led by Dragonfly Capital, Pantera Capital and Hashed and included Mechanism Capital, 3Twelve Capital, Kyros Ventures, Jump Capital, Impossible Finance, Mirana Ventures, Smrti Lab, Folius Ventures, Panonhy, Shima Capital, C^2 Ventures, SkyVision Capital and various individuals.
Mali, the Japan-based creator of a digital sleep apnoea therapy, received ¥300m ($2.6m) in series A funding today from Kirin Health Innovation Fund, a joint venture between brewery Kirin and VC firm Global Brain, in addition to Kyoto University’s Innovation Capital unit and VC firm MedVenture Partners. Each of the three investors provided ¥100m for the round.
Lit Protocol, the developer of a non-fungible token-based digital content access system with no fixed address, secured $2.2m on Tuesday from investors including digital technology researcher Protocol Labs as well as Gumi Cryptos Capital and CMT Digital, on behalf of mobile game publisher Gumi and trading firm Capital Markets Trading. The round was co-led by Collab+Currency and Sfermion and also backed by Crowdcreate, G1 Ventures, Kleiner Perkins, Lattice Capital, LongHash Ventures, Shima Capital, Tribe Capital and unnamed angel investors.
E-commerce holding company Rocket Internet co-led a $1.3m funding round for India-based app monetisation technology startup AppX with Y Combinator and Global Founders Capital, the Economic Times reported on Tuesday, citing a company statement. Soma Capital, Shrug VC, TDV Partners and angel investors Lenny Rachitsky and James Beshara also participated.
Riliv, the Indonesia-based operator of a mental health consultation app, raised an undisclosed amount of seed funding from investors including telecoms firm Telkom Indonesia’s Indigo accelerator today. The round was led by VC firm East Ventures and also featured Benson Capital, Sankalpa Ventures, Teja Ventures and angel investor Shweta Shrivastava.
Spready, the Japan-based operator of an online business discovery platform, secured ¥110m ($960,000) in pre-series A funding today from investors including human resources firm Celm’s HR Tech Investment unit, consulting group Vertex Partners, innovation design studio NewH and open innovation technology provider Relic. They were joined by CRG Investment and the round took Spready’s total funding to about $1.6m.
Blockchain entertainment technology developer Animoca Brands has invested $500,000 in Engines Of Fury, the Lithuania-based developer of a play-to-earn 3D arena battle game. The cash has been earmarked for game development and marketing.
M&A
Non-fungible token marketplace OpenSea purchased US-headquartered digital token trading service Dharma Labs yesterday for an undisclosed sum, allowing cryptocurrency services provider Blockchange, cryptocurrency exchange Coinbase and crypto trading software provider Ripple to exit. An Axios report earlier this month stated OpenSea was in talks to acquire the company for $110m to $130m. All three corporates had taken part in a $7m funding round for Dharma in 2019, and Axios reported its total funding stood at $15m pre-deal.
Data integrity software producer Precisely agreed yesterday to acquire US-based location data software developer PlaceIQ in a deal of undisclosed size that will enable credit information provider Experian, e-commerce group Alibaba and advertising agency KBS+ to exit. The company had raised undisclosed amounts from Alibaba in 2016 and Experian in 2019 having accumulated a total of $52m in earlier funding from KBS+ unit KBS+ Ventures, US Venture Partners, Valhalla Partners, Harmony Partners, Iris Capital, IA Ventures and Social Leverage.
Diagnostic information services provider Quest Diagnostics agreed on Tuesday to buy Pack Health, a US-based digital health coach developer backed by medical liability insurer Coverys, for an undisclosed amount. Coverys invested an undisclosed sum in the company in 2018, two years after it raised an amount indicated by a securities filing to be $750,000 from a single unnamed investor.
Public Markets
Motorcycle manufacturer Hero MotoCorp, impact investment firm Engine No. 1 and an undisclosed third investor have added $28m to the private investment and public equity financing backing Taiwan-headquartered electric scooter maker Gogoro’s reverse merger with special purpose acquisition company Poema Global Holdings Corp, increasing it to $285m. The deal was agreed in September 2021 and valued the combined business at $2.35bn.
Acorns, the US-based financial savings app developer that counts mass media group Comcast, digital payment processor PayPal and e-commerce firm Rakuten as investors, cancelled its own reverse merger yesterday. It had agreed the deal with special purpose acquisition company Pioneer Merger Corp in May 2021 at a combined valuation of $2.2bn.
Funds
Israel-headquartered blockchain development software provider Secret Network revealed yesterday it has pulled in $225m from 25 backers including Huobi Ventures, part of crypto exchange Huobi, as well as cryptocurrency creator Terraform Labs, digital currency exchange Kucoin Labs, boutique trader Skynet Trading, automotive part producer Wanxiang’s HashKey affiliate and quantitative crypto trading firm Alameda Research for an ecosystem fund. The vehicle was announced in tandem with a $175m accelerator pool which will provide non-dilutive financing.
Additional reporting by Liwen-Edison Fu and Thierry Heles.
