M&A
Payroll services provider Talenom has agreed to acquire Nomo, a Spain-based online accounting and tax platform developer, from financial services firm Banco Sabadell’s Innocells subsidiary. The company was incubated by Innocells and received €2.5m ($3m) in funding from the unit in January 2021.
Video game publisher Blizzard Entertainment intends to purchase Proletariat, a US-based multiplayer game developer backed by gaming group Take-Two Interactive Software, for an undisclosed amount, VentureBeat reported on Wednesday. Take-Two led a $20m series C round for the company in 2019 that took its total funding to over $28m.
Agribusiness and chemicals producer FMC Corporation has agreed to buy portfolio company BioPhero, a Denmark-based developer of pheromone-driven pest management technology, for about $200m. FMC subsidiary FMC Ventures, pharmaceutical firm Novo and Syngenta Ventures, a vehicle for agricultural group Syngenta, took part in BioPhero’s $17m series A round in March 2021.
Funds
Go-Ventures, the corporate venturing arm operated by Indonesia-based e-commerce and on-demand services firm GoTo, is set to close a $200m second fund in the third quarter of this year, DealStreetAsia has reported, citing people familiar with the matter. The corporate will put up 20% of the capital as a cornerstone investor while external limited partners including family offices and technology companies will provide the rest.
Haier Europe, an Italy-based subsidiary of China-headquartered electronics and appliances manufacturer Haier Group, has formed a corporate venturing and open innovation arm called Haier Europe Open Enterprise. The unit will back developers of smart home and appliance-related products covering areas such as artificial intelligence, the internet of things, food and beverages, e-commerce and grocery delivery.
Public markets
Weilong Delicious Global Holdings, a China-based spicy snack producer backed by internet technology group Tencent, is set to refile for an initial public offering sized at $500m, a source privy to the matter told Bloomberg. Tencent had participated in Weilong’s RMB3.6bn ($558m) pre-IPO series A round, in May 2021, which valued the company at about $10.8bn. CPE Capital and Hillhouse Capital co-led the round, which included Sequoia Capital China, Yunfeng Capital, Tianyi Ziteng, Oceanpine Capital, Hosen Capital and Haisong Capital. The company’s IPO was approved by the Hong Kong Stock Exchange in November 2021 but was later put on hold.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Guangzhou CanSemi Technology | Semiconductor technology and product developer | IT | China | N/A | 670 | 30/06/2022 | GAC Group (GAC Capital), SAIC Motor, BAIC Group; Guangdong Macao Semiconductor Industry Investment |
| Electra | Ultra-fast EV charging station operator | Transport | France | N/A | 167 | 01/07/2022 | SNCF (574 Invest), RATP Group, Groupe Chopard; Eurazeo (lead), RGreen Invest, Rive Private Investment, Serena Capital |
| Zilch | Interest-free credit provider | Financial | UK | C | 160 (updated) | 30/06/2022 | Daily Mail and General Trust (DMG Ventures), Goldman Sachs (Goldman Sachs Asset Management); Ventura Capital, Gauss Ventures, M&F Fund, Limited Ventures |
| Twelve | Carbon transformation technology developer | Energy and Natural Resources | US | B | 130 | 01/07/2022 | Munich Re (Munich Re Ventures), Microsoft (Microsoft Climate Innovation Fund); DCVC (lead), Capricorn Technology Impact Fund, Carbon Direct Capital Management, Breakout Ventures, Elementum Ventures, Chan Zuckerberg Initiative |
| Soba | No-code web3 game development platform | Media | Germany | N/A | 13.5 | 01/07/2022 | FTX (FTX Ventures); Lightspeed Venture Partners (lead), Cherry Ventures, Point Nine Capital, TQ Ventures, Matthew Haag, Jack Dunlop, Tim Evans, Alvaro González de Buitrago |
| AlgiKnit | Seaweed-derived biomaterials manufacturer | Industrial | US | A | 13 | 29/06/2022 | H&M (H&M Co:Lab); Collaborative Fund (lead), Starlight Ventures, Third Nature Ventures, Horizons Ventures, SOSV |
| Modo Energy | Energy storage-focused data analytics provider | Energy and Natural Resources | UK | Pre-A | 3.8 | 29/06/2022 | Fred Olsen (lead); Triple Point Ventures, unnamed existing investors |
| Borderless | Smart helmet and industrial software developer | Industrial | Japan | B, debt and crowdfunding | 3.2 | 01/07/2022 | Hakuba Photo Industry, Takagi (Takagi Partners); unnamed private investors |
| Lemme Be | Menstrual hygiene product manufacturer | Healthcare | India | Pre-A | 1.7 | 29/06/2022 | Transworld Group (Wami Capital); Multiply Ventures, Sattva Family Office, Anicut Capital AIF, Grip Investment |
| Neomoon | Latin America-focused, stablecoin-driven digital bank | Financial | US | Seed | <1 ($850,000) | 01/07/2022 | Algorand (Algorand INC, Algorand Foundation, Algorand Miami Accelerator); Borderless Capital (lead), Big Brain Holdings, Meld Venture, Optio Capital |
| Kakehashi SkySolutions | Small business-focused human resources management service | Services | Japan | N/A | N/A | 30/06/2022 | MyNavi |
| Gaussy | Warehouse digitalisation service | Services | Japan | N/A | N/A | 01/07/2022 | Mitsubishi Corporation and Mitsubishi Corporation LT, Prologis, Mitsui Fudosan (31Ventures), Mitsubishi HC Capital, Mitsubishi Estate; University of Tokyo (UTokyo Innovation Platform) |
| Claira | AI-equipped document analysis software developer | IT | US | N/A | N/A | 30/06/2022 | Citi (Citi Spread Products Investment Technologies – Sprint) |
| School of Humanity | Online high school operator | Services | UAE | Seed | N/A | 29/06/2022 | Education in Motion |
