M&A
Antibiotic drug provider Forge Therapeutics has agreed to pay an undisclosed amount to acquire Blacksmith Medicines, a US-based inflammatory diseases therapy developer spun off by the corporate in early 2021. It had received an undisclosed amount of seed financing from investors including pharmaceutical companies Eli Lilly and Evotec as well as Alexandria Venture Investments, a subsidiary of life sciences real estate investment trust Alexandria Real Estate Equities.
Meta, the owner of social media platforms Facebook and Instagram, has bought Luxexcel, a Netherlands-based smart eyewear provider that counts process control equipment manufacturer KLA Tencor, for an undisclosed amount, De Tijd has reported. The corporate invested through a series C round which stood at $16.4m as of 2017, lifting Luxexcel’s total funding to over $24m.
Fund
KuCoin Labs, the Seychelles-based incubation and research subsidiary of cryptocurrency exchange KuCoin, has formed an incubation initiative called KuCoin Labs Incubation Program to build blockchain startups. Smartphone producer Vertu has backed the scheme, as have MoonRock Capital, CDH Investment, IOBC Capital, Matrix Partners and unnamed other investors.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Zhejiang Sinopont Technology | Solar photovolatic film manufacturer | Energy and Natural Resources | China | D | 145 | 02/01/2023 | State Power Investment Corporation (SPIC Industrial Fund Management); GGV Capital, Citic Securities (Citic Goldstone Fund Management), Source Code Capital, China International Capital Corporation (CICC Capital) |
| Hyseim | Semiconductor technology developer | IT | China | Pre-A | 14.5 | 30/12/2022 | XinComm; Sunic Capital (co-lead), C&D Fund (co-lead), Weed Venture Capital, Clivia Capital |
| Legit Group | Cloud kitchen operator | Consumer | Indonesia | A | 9.4 | 02/01/2023 | Telkom Indonesia (MDI Ventures), Sinar Mas (SMDV); East Ventures |
| Elchemy | Online chemical marketplace | Industrial | India | Pre-seed | 2 | 01/01/2023 | Info Edge (Info Edge Ventures) (lead); unnamed angel investors |
| TSG Therapeutics | Infectious disease therapy developer | Healthcare | Singapore | N/A | 1.6 | 03/01/2023 | Daehan New Pharm |
| FinAccel | Mobile financial services provider | Financial | Singapore | N/A | 1.3 | 03/01/2023 | Westpac (Reinventure) |
| Clean Max Thanos | Renewable power provider | Energy and Natural Resources | India | N/A | <1 (460,000) | 02/01/2023 | Welspun |
| Decans | Orthopaedic surgery technology developer | Healthcare | China | B+ | N/A | 30/12/2022 | Zhejiang Jiaxin Silk Corp; ZSCO (Guogai Capital) (lead), Suzhou Huanxiu Lake Venture Capital Center, Everchanting Fund, Lishui Fuchu Fund |
| Hongxin Biotech | Gynaecological mRNA drug developer | Healthcare | China | Angel+ | N/A | 30/12/2023 | Hinova Pharmaceuticals, Dongbao Enterprise Group; Hongtao Fund Management, Nanling Fund, Shenzhen Credit Guarantee Group, Goldport Capital |
| Fande Technology | Enterprise automation system provider | Industrial | China | Angel | N/A | 30/12/2022 | Infaith Group; Sinovation Ventures (lead), Tsinghua University (TusStar) |
