Funding
Internet group Prosus and digital connectivity services provider Veon have taken part in a $34m extension to Bangladesh-based business-to-business (B2B) e-commerce marketplace ShopUp’s series B round through Prosus Ventures and Veon Ventures, taking it to $109m. The extension consisted of primary and secondary funding and included Tiger Global Management, Valar Ventures, Omidyar Network’s Ohana Holdings vehicle, Flourish Ventures and Lonsdale Capital. Both corporates had contributed to the round’s $75m first tranche in September 2021.
China-headquartered immunotherapy developer ImmuneOnco Biomedical Technology has closed almost $100m in mezzanine financing from investors including insurance firm Sunshine Insurance Group and Lilly Asia Fund, which took part on behalf of pharmaceutical firm Eli Lilly. They were joined by Rehabilitation Growth Fund, Guoke Jiahe, Rongchang Venture Capital, Founder Hesheng, CCB Trust, Chuangdongfang, Kuanyu Capital and Licheng Fund.
Xuanzhu Biopharmaceutical, a subsidiary of China-based pharmaceutical firm Sihuan Pharmaceutical Holdings Group, closed a RMB611m ($96m) series B round led by insurer Sunshine Insurance Group on Friday, it revealed today. Efung Capital, Zhongji Investment, TJ Capital, SDIC Taikang Trust, Hai Chuang Fund of Funds, BOC Capital, Jinjiang Xuanhong Equity Investment, Shaanxi Financial Holding Group, Hainan Wanxin Private Equity Fund Management, DNV Capital and Huayi Capital also took part in the round along with unnamed other investors.
Israel-headquartered compostable packaging provider Tipa has raised $70m in series C funding from investors including insurer Migdal Group Insurance and Finance, Times of Israel has reported. Research and development provider Millennium Food Tech co-led the round with investment firm Meitav Dash Investments.
Blockchain entertainment developer Dapper Labs has participated in a $50m series A round for Metaversal, a US-based investment holding company focused on non-fungible tokens, The Information has reported. The round, which valued the company at $181m, was co-led by CoinFund and Foxhaven Asset Management and backed by Digital Currency Group, Rockaway Blockchain Fund and Franklin Templeton.
Beijing Tianxing, a China-based developer of sports science-focused medical devices, has closed hundreds of millions of yuan (RMB100m = $15.7m) in series B funding from investors including Legend Capital, the VC firm formed by conglomerate Legend Holdings. The round was led by healthcare investment firm OrbiMed’s Aobo Capital vehicle and also featured 3W Partners.
ABM Therapeutics, a China-headquartered developer of small molecule cancer drugs, has raised $30m in a series B round featuring Baidu Ventures, the early-stage investment arm of internet group Baidu, DealStreetAsia has reported. Highlight Capital and Photon Fund co-led the round, which included Delta Capital, Hermed Capital, Sincere VC and existing backer LongDAC.
Legend Capital, the VC firm established by conglomerate Legend Holdings, has led a RMB150m ($23.5m) series C round for Leapstack, a China-based provider of artificial intelligence technology for the insurance industry, PEDaily has reported. Shengjing Jiacheng, GF Qianhe and Huazhi Capital also contributed to the round.
US-based biomanufacturing technology developer Wheeler Bio has completed a $14m seed round co-led by biotech services provider Alloy Therapeutics and investment firm Echo Investment Capital. They were joined in the round by biomedical research investor Presbyterian Health Foundation and Floating Point.
South Korea-headquartered data labelling software provider Aimmo has received $12m in series A funding from investors including financial services firm Industrial Bank of Korea and Hanwha Investment & Securities, a subsidiary of diversified conglomerate Hanwha, TechCrunch has reported. DS Asset Management, S&S Investment, Toss Investment, Korea Asset Investment & Securities and Venture Field also took part in the round.
MedKitDoc, the Germany-based developer of a remote healthcare service tailored for chronically ill patients, has secured €7m ($7.9m) in seed funding from Vorwerk Ventures, the investment arm of consumer product distributor Vorwerk. It was joined by Acton Capital, Picus Capital and Daniel Krauss and Jochen Engert, the co-founders of bus booking service FlixBus.
Classified listings operator Info Edge has led a $7m series A round for Geniemode, the India-based operator of a cross-border business-to-business online marketplace, through its Info Edge Ventures vehicle, the Economic Times has reported. The new funding came four months after a $2.3m seed round co-led by Info Edge Ventures and Temasek.
Play It Forward DAO, the Singapore-headquartered creator of a management software platform for play-to-earn gaming guilds, has closed a $6m funding round co-led by United Overseas Bank’s UOB Venture Management unit, Signum Capital and Kyber Ventures. It included cryptocurrency exchange Tokocrypto, blockchain item marketplace Mintable, Jump Capital, Genesis Block Ventures, LD Capital, Great South Gate, Octava, 975 Capital, Arcane Group, AU21 Capital, Double Peak Group, Faculty Group, NxGen, DWeb3 Capital, GSR Capital and SL2 Capital.
Media group Emtek, logistics provider Orbit Malaysia and healthcare provider HMI Group have participated in a S$5.15m ($3.8m) series A round for Smarter Health, the Singapore-based operator of a data management software platform focused on digital health. VC firm East Ventures led the round, which included Blue7 and Citrine Capital.
Financial services firm Kenanga Investment Bank has led a S$5m ($3.7m) series A round for Singapore-based robo-adviser provider AutoWealth, DealStreetAsia has reported. The capital was provided by the bank’s Kenanga Investors asset management subsidiary.
US-based preventative health technology developer GB HealthWatch has received $3.5m in pre-series C funding from investors including industrial power equipment provider Trinity Power. The company had raised $5.2m in 2012 and $1.1m in 2018 according to regulatory filings and named Trinity as an existing investor.
Inovues, a US-based developer of smart building retrofitting technology, has completed a $2.75m funding round featuring window maker Momentum Glass and Saint-Gobain Nova, the strategic investment arm of advanced materials producer Saint-Gobain. The round was led by Paulos Holdings and also backed by VC Fuel, Fund4SE, Lateral Capital, E8 Angels and Central Texas Angel Network.
Canning equipment manufacturer Ferrum has led a $2.5m financing round for QualySense, a Switzerland-based producer of robotic seed processing and quality inspection technology, according to Venture Kick. The corporate has been a production partner for QualySense since 2018.
US-based neurosurgical sensor developer Rhaeos has raised $2.2m in seed financing from investors including Cedars-Sinai Accelerator, which invested on behalf of healthcare provider Cedars-Sinai. The round also featured Creative Ventures, Portal Innovations, Lateral Capital, Kyto Life Science and Technology, Band of Angels, Northwestern University’s NXT Fund, University of Michigan’s Social Venture Fund and unnamed private investors. The company said it has now secured a total of $8m in dilutive and non-dilutive financing.
Eyewear retailer Lenskart has invested Rs 50m ($670,000) in India-based computer vision technology developer Tango Eye, VCCircle has reported. The corporate had previously joined Aroa Ventures, RiSo Capital Fund and Gaurav Gulati in a $410,000 round for the company in October 2020.
M&A
Beauty product distributor B2Link has paid an undisclosed amount to acquire Picky, the South Korea-based operator of an online beauty discovery platform, allowing skincare brand Wishcompany to exit. VC partnership NLVC had led a $1.3m pre-seed round for Picky in January this year that included Wishcompany and Klim Ventures.
Funds
Telecommunications firm Orange has contributed an undisclosed amount of financing for Move Capital I, a European business-to-business technology fund run by asset manager Kepler Cheuvreux Invest. The capital was supplied through subsidiary Orange Digital Investment, which is anchoring the vehicle.
