Funding
OpenExchange, a US-headquartered financial communication technology developer backed by financial services firm Barclays and financial market intelligence provider Ipreo, secured $23m in series D funding yesterday. Growth equity fund Kingfisher Investment Advisors led the round, which included venture capital fund Stonebridge Ventures and which took the company’s total funding to about $45m according to press releases and securities filings. Ipreo led a $6m series B round for OpenExchange in 2013 that included existing investor Barclays, and its November 2019 series C was sized at $13.4m. Its backers also include GrandBanks Capital.
France-based photonics technology producer Isorg has received €16m ($19m) in a series C round featuring chemicals producer Sumitomo Chemical, integrated systems producer Integrated Systems Development and industrial group Mitsubishi, Private Equity Wire reported yesterday. Financière Fonds Privés, BPIfrance, New Science Venture, CEA Investment and Sofimac Group also invested in the round, which followed $8.7m from BPIfrance, Sofimac Partners, CEA Investissement, Grenoble Angels and Savoie Angels in 2014 and $28.2m in series B funding from New Science Ventures, BPIfrance Financière Fonds Privés (FFP) Sofimac, CEA and Dynalim in 2018.
Ireland-headquartered video game studio Vela Games completed a €14.1m ($16.7m) series A round yesterday that included video game publisher Ubisoft. The round was led by private equity firm Novator and backed by London Venture Partners (LVP), and it came after $3.8m in seed capital from IIU and Enterprise Ireland that was disclosed in July 2019, and $3.1m from LVP and IIU in April 2020.
Hotel and resort operator Accor has led a $16m series D round for India-based budget hotel chain Treebo, Entrackr reported yesterday. Media groups Bennett Coleman & Company (BCC) and Bertelsmann also participated in the round, as did Elevation Capital, Matrix Partners, Ward Ferry Management and private investor Deepak Parayanken. The company had raised more than $64m as of a $1.4m round in October 2020, from investors including Bertelsmann India, BCC, Matrix Partners India, Elevation Capital and Ward Ferry.
VividQ, a UK-based developer of 3D holographic display software, closed an £11m ($15.2m) funding round featuring Foresight Williams Technology, a collaboration between engineering services firm Williams Advanced Engineering and Foresight Group, yesterday. The round was led by University of Tokyo’s Innovation Platform and included Miyako Capital, Apex Ventures, R42 Group, Sure Valley Ventures, University of Tokyo Edge Capital (UTEC), Essex Innovation and unnamed individuals. Sure Valley Ventures had led a $4m round for VividQ in March 2019 and it added $3.1m from UTEC and lighting equipment maker Osram’s FluxUnit in January 2020.
Sweden-headquartered social entertainment network Hiber raised $15m in series A funding from investors including Bumble Ventures, the investment arm of dating app developer Bumble, as well as mobile game studio Sybo and crypto asset trader CMT Digital. The round was led by EQT Ventures and also featured Luminar Ventures and Konvoy Ventures. Hiber had reportedly raised a total of $4.5m as of April this year when it received funding from Bumble Ventures, Sybo, Luminar Ventures, Konvoy Ventures, GFR Fund, Wild Sloths and The Mini Fund. It had secured $2.25m from investors including Sybo, Bumble Ventures and hosting services provider Rasmussen in August 2020.
ZeroAvia, a UK-based developer of zero-emission aviation technology, received $13m yesterday from investors including Shell Ventures, the corporate VC arm of oil and gas supplier Shell, as well as e-commerce group Amazon’s Climate Pledge Fund. The round was led by AP Ventures, the VC firm backed by mining group Anglo American Platinum and oil and gas provider Equinor, and also featured Alumni Ventures Group, SGH Capital, Agartha Fund, Breakthrough Energy Ventures, Summa Equity, SystemIQ and Horizons Ventures. It followed $24.3m from Shell Ventures, Summa Equity, SystemIQ, Breakthrough Energy Ventures, Horizons Ventures and air carrier British Airways in March this year that boosted its overall funding to $74m.
EditForce, a Japan-based creator of DNA and RNA drug development technology, increased its latest round to $11.8m yesterday with ¥500m ($4.5m) from structural wood member manufacturer Yoshimei, pharmaceutical group Mitsubishi Tanabe Pharma’s MP Healthcare Venture Management unit and FFG Venture Investment, part of Fukuoka Financial Group. It will be added to $7.3m raised last month in a tranche led by Newton Biocapital and backed by Itochu Technology Ventures (ITV), a subsidiary of trading group Itochu, as well as telecommunications firm KDDI, University of Tokyo Edge Capital and Global Brain. It had previously secured $9.3m from investors including ITV, chemical producer Kisco and energy utility Kansai Electric Power’s K4 Ventures unit.
Japan-based mobile content creator Taskey closed an undisclosed amount of series D funding yesterday from internet and gaming group Tencent. The company raised an undisclosed amount from toy producer Good Smile in 2015 and $1.35m from unnamed investors three years later, before adding $2.5m from Voyage Ventures and Mitsui Sumitomo Capital – on behalf of advertising technology provider Voyage and insurance firm Mitsui Sumitomo – as well as Global Brain, Global Catalyst Partners Japan and Sansei Capital, in mid-2019.
Japan-headquartered video game publisher MyDearest received ¥900m ($8.1m) yesterday in a round led by Globis Capital Partners, the investment arm of educational services firm Globis. The round included DG Daiwa Ventures, SMBC Venture Capital, Monex Ventures and DBJ Capital, subsidiaries of internet company Digital Garage, financial services firm Sumitomo Mitsui Banking Corporation, currency exchange Monex and Development Bank of Japan respectively. The company said its total funding stands at $10.8m and it named animated film producer Orient Light and Magic’s OLM Ventures unit as an earlier backer along with mobile game studio KLab, human resources firm Will Group, ISGS Investment Works, PE & HR and Samurai Incubate.
Tenovos, a US-based developer of digital asset management technology, raised $8m yesterday in a series A-1 round featuring Bertelsmann Digital Media Investments (BDMI), a corporate venturing vehicle for media group Bertelsmann. The round was led by Progress Ventures and also backed by Revel Partners, Dublin Capital angel investors including Jeff Lunsford. It came after Progress Ventures led a $4m series A round in July 2020 that included BDMI, Revel Partners and Dublin Capital.
Globis Capital Partners, the investment arm of education services provider Globis, led an ¥840m ($7.6m) funding round for Japan-based on-site car maintenance service Seibii that included Coral Capital and private investor Nobuhiro Ariyasu. The company had joined PayPay Accelerator Program, the accelerator run by mobile payment service PayPay with internet company Yahoo Japan’s YJ Capital unit and VC firm East Ventures, in December 2020.
Japan-headquartered food delivery service Chompy secured ¥780m ($7m) yesterday in a funding round co-led by internet group CyberAgent’s Fujita Fund and Delight Ventures, the VC firm backed by internet company DeNA. Consumer electronics producer Sony’s Innovation Fund also took part in the round, as did Anri, Coral Capital and DCM Ventures. It had raised a total of $8.5m as of a $6.2m round in August 2020 featuring Delight Ventures, Anri, Coral Capital, DCM and Go Fund, an investment vehicle backed by public relations firm Breakthrough Company Go.
CredR, the India-based operator of an online marketplace for used two-wheeled vehicles, has received $6.5m in a funding round led by motorised vehicle manufacturer Yamaha Motors, the Economic Times reported yesterday. Investment and financial services group Fidelity’s Eight Roads Ventures unit also took part in the round, as did Omidyar Network India and Astarc Ventures. CredR had raised $2m from Eight Roads and On Mauritius in October 2020, following $6m from Omidyar Network India and unnamed existing investors in December 2019. Eight Roads had provided $15m in series A funding for the company in 2015.
Allegion Ventures, the investment arm of security equipment producer Allegion, co-led a funding round for Mapped, the US-based developer of a connected data infrastructure platform, yesterday sized at $6.5m according to a regulatory filing. The round was co-led by real estate-focused VC firm MetaProp and came in the wake of a $1.5m round in February this year, according to a separate filing.
Singapore-based digital wealth management platform Endowus has raised S$7m ($5.2m) from financial services firm UBS, consumer manufacturer Samsung and telecoms firm Singapore Telecommunications, through subsidiaries UBS Next, Samsung Ventures and Singtel Innov8, Tech in Asia reported yesterday. The company had secured $17.1m in an April 2021 series A round led by VC firm Lightspeed Venture Partners and backed by telecoms and internet group SoftBank through its SoftBank Ventures Asia unit.
Financial services firm Citi has participated in a $5m seed round for Daylight, the US-based creator of a digital banking service aimed at the LGBTQ+ community, TechCrunch reported yesterday. The round was co-led by Kapor Capital and Precursor Capital and also featured Anthemis Group, Clocktower Technology Ventures and Financial Venture Studio.
Payment services firm Credit Saison provided ¥500m ($4.5m) in funding for Japan-based programming education service Life Is Tech yesterday. The cash will support an expansion into online classes and plans to collaborate with Credit Saison in future.
Software development technology provider GitLab spun US-based data technology developer Meltano off yesterday with $4.2m from a seed round led by GV, a corporate venturing subsidiary of internet and technology group Alphabet. The corporate was joined by angel investors including Ram Shriram, Matt Mullenweg and Max Beauchemin.
CAC Capital, the corporate venturing arm of IT services firm CAC Group, led the ¥430m ($3.9m) first close of a series A round for Redfox, the Japan-based provider of a workflow management app for field workers called Cyzen, yesterday. The tranche included Nanto Capital and Seibu Shinkin Capital, subsidiaries of financial services firms Nanto Bank and Seibu Shinkin Bank, in addition to investment firm WM Partners. The company raised an undisclosed sum from digital marketing agency Opt in 2014 before the corporate sold its stake to WM Partners in February 2019.
US-headquartered electric two-wheeled vehicle provider Ridepanda secured $3.75m yesterday from investors including Porsche Ventures, Yamaha Motor Ventures and Proeza Ventures, on behalf of carmaker Porsche, motorised vehicle producer Yamaha Motor and auto component manufacturer Grupo Proeza. They were joined by General Catalyst, Moving Capital, Alumni Ventures Group, Lorimer Ventures, Oyster Ventures and 0 Ventures, and the round came after an undisclosed amount of seed funding from General Catalyst and Dreamers Fund in October 2020.
Routrek Networks, the Japan-based owner of smart irrigation and fertilisation system Zero.Agri, received ¥380m ($3.4m) in series C2 funding from tractor manufacturer Kubota and construction firm Toda today. The company had raised a total of $6.5m as of a $2.4m round in June 2020 featuring IT services provider Optim, leasing services firm JA Mitsui Leasing and A-Five, and its earlier backers include corporate investors Globis Capital Partners, Oisix, JFE Shoji Electronics, JX Nippon Anci and Norinchukin Bank.
Tru Technologies, the South Korea-based operator of a securities trading platform, has raised $3.1m in series A funding from investors including financial services group Hana Financial and Hanwha Securities, a subsidiary of conglomerate Hanwha, Private Equity Wire reported on Tuesday. KB Investment, Kiwoom Investment, Korea Growth Investment Corp, Shinhan Capital and Stonebridge Ventures also contributed to the round.
Japan-headquartered plant-based food brand Green Culture closed a ¥250m ($2.2m) financing round today featuring rice cracker brand Kameda Seika and online supermarket Oisix Ra Daichi’s Future Food Fund. Investment firm Universal Materials Incubator led the round, which included an undisclosed amount of secondary financing.
Medical information provider M3 supplied ¥250m ($2.2m) for Japan-based medical staffing software producer Epigno today to increase its overall funding to $3.3m. The company raised $930,000 in April 2020 from Capital Medica Ventures and Colopl Next – on behalf of healthcare provider Capital Medica and mobile game publisher Colopl – as well as University Venture Partners and Future Venture Capital. It had received $140,000 in seed financing from investors including Incubate Fund in 2018.
Diversified conglomerate Sojitz led a funding round of undisclosed size for Japan-based electric vehicle manufacturer ASF yesterday. The company formed a business and capital alliance with Sojitz in December 2020 alongside a joint development agreement with logistics service provider Sagawa Express.
Valt Japan, a Japan-based recruitment platform focused on workers with disabilities, received ¥200m ($1.9m) yesterday from Z Venture Capital, Sumitomo Mitsui Insurance Venture Capital, Mizuho Capital and SMBC Venture Capital, subsidiaries of internet group Z Holdings, insurer Sumitomo Mitsui Insurance and financial services firms Mizuho Bank and Sumitomo Mitsui Banking Corporation respectively. Human resources firm Celm’s HR Tech Investment Limited Partnership unit invested an undisclosed amount in Valt in July 2019 before Scala Partners added $460,000 in seed funding four months later.
Knock on the Door, the Japan-based operator of an epilepsy care app called Nanacara, raised ¥180m ($1.6m) in pre-series A funding yesterday from investors including enterprise video content provider Kips and recruitment firm RS-Lab. They invested together with Keio University’s Keio Innovation Initiative vehicle and the round followed an undisclosed amount from healthcare provider Capital Medica’s investment arm, Capital Medica Ventures, in May 2020.
Japan-based history podcast operator Coten received ¥84m ($760,000) yesterday from investors including Dogan Beta, a subsidiary of consulting firm Dogan, as well as workforce dispatch service Uranos and IT services group Zero to One. The corporates were joined by investment firm Reapra and Tsuzuki International Scholarship Foundation.
Japan-based herbal medicine technology developer Herbal-I secured an undisclosed amount yesterday from Piala Ventures, the corporate venturing arm of marketing and advertising group Piala. The company had previously raised $275,000 in a May 2020 crowdfunding campaign.
Japan-based temporary job portal Joins raised ¥90.3m ($630,000) in equity funding and ¥20m ($180,000) in debt financing yesterday in a round led by consulting firm Dogan’s investment arm, Dogan Beta. The round included Monex Ventures, a subsidiary of currency exchange Monex, as well as financial services firm San-in Godo Bank, Japan Venture Philanthropy Fund and 17 company employees. Joins secured $270,000 from Dogan Beta in January 2020 that formed part of a $650,000 seed round closed in August with backing from customer engagement group Pipedo HD’s Double Sharp Partners unit, investment firm Hoxin and five individuals.
Mapping technology provider MapmyIndia has led a pre-series A round of undisclosed size for Chargeup, the India-based operator of a battery swapping service for electric rickshaws, YourStory reported yesterday. Unnamed angel investors also contributed to the round, which will support technology development and customer acquisition.
M&A
Home healthcare provider Amedisys agreed yesterday to acquire Contessa Health, the US-based developer of a technology platform for home care technology management, enabling health insurance provider Blue Cross Blue Shield Association, health services firm Optum and health system Marshfield Clinic to exit. The company raised an undisclosed amount of series C funding from investors including Blue Cross Blue Shield vehicle Blue Venture Fund in 2018 following $10.5m in earlier funding. Its investors at that point included Marshfield Clinic, Health Velocity Capital, Noro-Moseley Partners, Sandbox Advantage Fund, Nashville Capital Network and Martin Ventures, while Optum unit Optum Ventures lists it as a portfolio company.
Additional reporting by Liwen-Edison Fu and Thierry Heles.
