Funding
China-headquartered space rocket developer Galactic Energy closed $200m in funding yesterday from investors including construction firm Anhui Jiangnan Construction Investment Group across series B and B-plus rounds. The rounds were led by Oriental Fortune Capital and Huaqiang Capital respectively and also featured New Potential Energy Fund, Essential Capital, Yunding Capital and Zhongtian Fortune Fund Asset Management.
Internet and gaming group Tencent invested over $50m to lead a $100m financing round for China-based off-road vehicle developer Rox Motor in late 2021, 36Kr reported yesterday. The company is reportedly now seeking additional funding at a $2bn valuation.
Singapore-based human relations software provider Darwinbox secured $72m yesterday from investors including enterprise software producer Salesforce, conglomerate JG Summit and financial services firm Siam Commercial Bank, which invested through Salesforce Ventures, JG Digital Equity Ventures and SCB 10X respectively. Investment firm Technology Crossover Ventures led the round, which also featured Sequoia Capital, Lightspeed Venture Partners, Endiya Partners and 3One4Capital. The company said it has now raised $110m in total and the round reportedly valued it at a minimum of $1bn.
France-based cancer monitoring device developer Resilience received €40m ($45.1m) in a series A round that included mutual insurance firm MACSF and healthcare providers Ramsay Santé, Fondation Santé Service and Vivalto Santé, the last through Vivalto Ventures. The round was led by investment firm Cathay Innovation and also backed by diversified holding company Exor’s venture capital arm, Exor Seeds, as well as Singular, Picus Capital and Seaya Ventures.
Insurance group MS&AD has participated in a $10m series A round for Intellect, the Singapore-based developer of a mental health management app, through corporate venturing unit MS&AD Ventures, The Business Times reported today. HOF Capital led the round, which included DG Daiwa Ventures, the joint venture for internet company Digital Garage and brokerage Daiwa, as well as East Ventures, Headline, Pioneer Fund and existing backer Insignia Ventures Partners.
Ranmai Technology, the China-based developer of a digital social media influencer called Ayayi, has closed an eight-digit amount of yuan (RMB10m = $1.58m) in a pre-series A round led by quantitative trading firm Susquehanna International Group, 36Kr has reported. Mumian Capital was financial adviser on the round.
ClimateTrade, the Spain-headquartered operator of an online finance marketplace for decarbonisation projects, completed a €7m ($8m) pre-series A round featuring cryptocurrency protocol developer Algorand, financial technology provider Six Group, telecommunications firm Telefónica and electronics producer Omron in late 2021, it revealed yesterday. The round included investment firm GED’s Conexo Ventures fund, ClearSky, Borderless Capital, Amasia and Zubi Capital while Six, Telefónica and Omron took part through Six FinTech Ventures, Wayra and Omron Ventures.
Heaten, a Norway-based provider of high-temperature industrial heat pumps, has raised NOK60m ($6.8m) from investors including Shell Ventures, the corporate venturing arm of oil and gas supplier Shell. The corporate was joined by non-profit organisation Prime Coalition’s Azolla Ventures vehicle and the state-owned Nysnø Climate Investments, and the round followed about $2.4m from investment firm Valinor in July 2021 at a $6.8m valuation.
E-commerce, gaming and financial services group Sea has led an S$8.5m ($6.3m) series A round for Singapore-based motion-capture technology developer Refract, The Business Times reported today. The round also featured undisclosed family offices and private investors.
Anyplace, the US-based operator of an online marketplace for flexible-term furnished housing, secured $5.3m yesterday in a series A round led by GA Technologies, the operator of real estate services provider Renosy. The corporate was joined by Launch Fund, East Ventures and angel investors Keisuke Honda and Jason Calacanis.
Flint, the Singapore-based operator of a cryptocurrency investment app, has received $5.1m in seed capital from investors including Coinbase Ventures, the corporate VC subsidiary of digital currency exchange Coinbase. VC firms Sequoia Capital India and Global Founders Capital co-led the round, which also featured Hashed, IOSG Ventures, Better Capital, Antler India, MSA Capital and some 60 angel investors.
Medical implant manufacturer Exactech supplied an undisclosed amount of funding for U.K.-based orthopaedic device provider JointMedica yesterday. The companies plan to work together to bring JointMedica’s lead product, a hip implant, to market.
Fathom, the US-based developer of an artificial intelligence-equipped note-taking app, publicly launched yesterday with $4.7m from a seed round featuring video communication software provider Zoom’s Apps Fund. The round included Maven Ventures, Character, Active Capital, Global Founders Capital, Rackhouse.vc, Soma Capital and angel investors such as Bill Tai and Matt Ocko.
Slime Royale, the Japan-based developer of a decentralised 3D gaming project, has raised an undisclosed amount of funding from mobile game publisher Appota Group. The corporate will also provide strategic assistance to Slime Royale in connection with international growth.
VitalFluid, a Netherlands-based developer of nitrogen extraction technology based on research at Eindhoven University of Technology, has secured €2m ($2.3m) in funding from investors including industrial manufacturing group VDL Groep’s VDL Participaties subsidiary. The round also featured development agency Brabantse Ontwikkelings Maatschappij.
UK-based hydrogen production technology developer Supercritical Solutions has received $3.6m in seed funding from investors including mining company Anglo American. VC firm and incubator Jericho Energy Ventures invested nearly $1.8m to lead the round, which was also backed by Lowercarbon Capital and Deep Science Ventures.
Telecoms firm Taiwan Mobile provided an undisclosed amount for Taiwan-based podcast platform developer SoundOn Global on Sunday. The transaction came a year after SoundOn’s acquisition of social audio app developer Goodnight.
Burda Principal Investments, the corporate VC subsidiary of media group Hubert Burda, has sold shares in Malaysia-based automotive e-commerce marketplace Carsome to two investors including Taiwan Mobile, DealStreetAsia reported today. The corporate divested shares to 500 Global’s Southeast Asia fund and Asia Partners earlier this month and now owns a stake sized at about 4%. Carsome raised $290m in series E funding two weeks ago.
Indonesia-based baby food subscription service Grouu has raised $400,000 in a seed round featuring fast food group Sour Sally’s Selera Kapital subsidiary, Daily Social reported today. The corporate was joined in the round by angel investors, including Wesley Harjono and Rama Notowidigdo.
Agnavi, the Japan-based owner of canned sake brand Ichi-Go-Can, secured ¥30m ($260,000) in seed funding from packaging machinery manufacturer Toyo Seikan Group Holdings today. It will use the cash for marketing and the expansion of its sales channels and production facilities.
M&A
Content creation technology provider Unity purchased Ziva Dynamics, the Canada-based creator of a real-time 3D character generation platform, for an undisclosed sum yesterday, allowing carmaker Toyota to exit. The corporate’s Toyota AI Ventures subsidiary co-led Ziva’s $7m seed round with Grishin Robotics and Millennium Technology Value Partners’ New Horizons Fund in mid-2020.
Financial services firm Rabobank exited Netherlands-based medical imaging software producer Aidence yesterday in an acquisition of undisclosed size by diagnostic imaging services provider RadNet yesterday. The bank’s Rabo Ventures vehicle had co-led Aidence’s $11.3m series A round in 2019 with Inkef Capital, investing alongside Northzone, HenQ and Health Innovations to take the company’s total funding to $13.8m.
Additional reporting by Liwen-Edison Fu.
