Funding
Inspir.ai, the China-based artificial intelligence software developer also known as Qiyuan World, raised RMB300m ($46.3m) in series A funding yesterday from investors including mobile game developer Lilith Games, DealStreetAsia reported. Venture capital firm GGV Capital led the round, which also featured Vision Knight Capital and Gaorong Capital, the latter of which had combined with Lilith Games to invest ‘millions of US dollars’ in the company in 2017.
Xiaoice, a China-based artificial intelligence technology developer spun off by software provider Microsoft, has completed a series A round featuring internet company NetEase at a valuation exceeding $1bn, Kr Asia reported yesterday. Hillhouse Capital, GGV Capital, IDG Capital, 5Y Capital and Northern Light Venture Capital also contributed to the round. The company has not revealed details of its earlier funding, but NetEase and Northern Light Venture Capital were identified as existing backers.
Fashion retailer H&M co-led a $45m series B round for India-based social commerce platform developer Trell yesterday with Mirae Asset and LB Investments, YourStory reported. Consumer electronics producer Samsung and conglomerate Fosun also took part in the round, through Samsung Ventures and Fosun RZ Capital respectively, as did KTB Network. The company had raised $11.4m in series A funding from Samsung Ventures, Fosun RZ Capital, KTB Network, WEH Ventures and Sequoia Capital’s Surge subsidiary in August 2020, taking its total funding to $16.7m.
Outdoor advertising network operator Lamar Advertising Company provided $30m in series B funding for US-headquartered programmatic advertising technology developer Vistar Media yesterday. VC firm Valhalla Partners led a $1.5m seed round for Vistar in 2013 that included Mercury Fund and Ben Franklin Technology Partners, following $510,000 in convertible note financing from unnamed investors the previous year. It has not disclosed details of series A funding.
Mytonomy, a US-based provider of patient engagement video software, completed a $25m series B round yesterday led by private equity firm Level Equity. Medical technology and electronics producer Philips led the $7m first tranche of a series A round for Mytonomy also backed by healthcare provider MedStar Health, George John and Gokul Rajaram that closed at $9.3m in January 2019. The company had previously raised a total of nearly $1.5m in debt financing between 2011 and May 2017 according to securities filings.
Canada-headquartered computer vision software provider Algolux secured $18.4m in series B funding from investors including GM Ventures, the corporate venturing arm of carmaker General Motors, as well as Nikon-SBI Innovation Fund, a joint venture between optics technology producer Nikon and financial services provider SBI. The round was co-led by Forte Ventures and Drive Capital and also featured Castor Ventures, Investissement Quebec, Generation Ventures and Intact Ventures. It came after GM Ventures led a $10m series A round in 2018 that increased Algolux’s overall funding to $13.4m.
Insurello, the Sweden-based operator of a service that helps consumers get compensation, has received SEK150m ($17.5m) in funding from investors including media company Schibsted. The round was led by Nordstjernan Growth, on behalf of investment firm Nordstjernan, and backed by Inventure. The company had raised $280,000 from DHS Ventures and various angel investors in 2017, just over $680,000 from Luminar Ventures, Wave Ventures and unnamed individuals in 2018, $2.7m from investors including Schibsted subsidiary Schibsted Growth and Luminar in June 2019 and $8m in a June 2020 round co-led by Schibsted and Inventure and backed by Luminar.
Argentina-headquartered identity verification technology developer VU has raised $12m in a series B round featuring digitalisation software provider Globant and telecommunications firm Telefónica, TechCrunch reported yesterday. Inter-American Development Bank’s IDB Lab unit also took part in the round, as did Agrega Partners, NXTP Ventures and Bridge One. The company had received an undisclosed amount from Telefónica’s Wayra Hispam vehicle in 2020 and told TechCrunch it has now secured $20m in total.
Healthcare efficiency software provider Vizient led a series B round of undisclosed size yesterday for RVH Solutions, the US-based developer of a software platform intended to improve healthcare provision. RVH has not disclosed details of its earlier funding but revealed investment platform Rizk Ventures has been an investor since its 2015 launch.
Gembah, the US-based creator of a consumer product development platform, secured $11m in series A funding today from investors including freight forwarder Flexport. ATX Venture Partners led the round, which also featured fellow VC firm Silverton Partners and angel investors Brett Hurt, Jim Curry and Dan Graham. The company said it has now raised $14.4m altogether, Silverton Partners, ATX Venture Partners and Capital Factory having supplied it with $4.3m in seed capital in April 2020.
Automotive component manufacturer Continental and chemicals and consumer products group Henkel have each put up $3m to co-lead Israel-based printable sensor developer Feelit’s $7m series A round, Calcalist reported yesterday. Vasuki Global Tech Fund provided the other $1m, and the cash will be allocated to technology development and international growth.
UK-based adenovirus drug developer Theolytics has raised an undisclosed amount of series A funding from M Ventures, a corporate venturing subsidiary of pharmaceutical firm Merck Group. Theolytics was spun out of University of Oxford and its series A round stood at $6.8m as of January this year, the first tranche being led by pharmaceutical company Taiho’s investment arm, Taiho Ventures, and Epidarex Capital with backing from existing investor Oxford Sciences Innovation (OSI), bringing the company’s overall funding to $10m.
Vara, the Singapore-based creator of a human resources software platform called Bukugaj tailored for fast-growing startups, has received $4.8m in seed financing from investors including ride hailing service Gojek’s Go Ventures unit, TechCrunch reported today. RTP Global, Alpha JWC Ventures, Febe Ventures, Taurus Ventures and Sequoia Capital India’s Surge subsidiary also participated in the round.
NFT Oasis, the US-headquartered creator of a virtual environment for non-fungible tokens, has completed a $4.4m first funding round that included crypto research and investment firm Delphi Digital’s Infinft and gMoneyNFT vehicles. The round’s 32 investors also included Lemniscap, CitizenX Crypto Ventures, FlamingoDAO, ID Theory, Intellectus Partners, Koji Capital, Mechanism Capital, OzoneX, Stateless Ventures, The LAO and angel investor Brad Stephens.
India-based aquaculture technology developer Aquaconnect has secured $4m in pre-series A funding from investors including media, investment and data company AgFunder, the latter disclosed yesterday. Flourish Ventures and Rebright Partners co-led the round, which was also backed by 6G Capital, Hatch and Omnivore, the last two having provided $1.1m in seed capital for the company in September 2019.
Contract pharmaceuticals manufacturer CMIC CMO, wig vendor ArtNature and hair salon operator Diana joined AIS Capital, NBC Angel Fund 2 and undisclosed individuals to invest ¥420m ($3.8m) in Japan-based optical medical equipment manufacturer Think Lands yesterday. The company had secured $3m from CMIC CMO, marketing and design agency Dof, AIS Capital, Realtech Fund and unnamed existing investors in April 2019.
Japan-based bond issuance service Siiibo raised an undisclosed amount of funding yesterday from digital media group Gree’s Strive fund and Chiba Dojo Fund, a subsidiary of entrepreneurial community Chiba Dojo, as well as unnamed angel investors. Siibo had received a total of $2.8m as of a $2m round in March 2020 featuring Dogan Beta, the investment arm of consulting services firm Dogan, in addition to Chiba Dojo Fund, AG Capital and Nobuhiro Ariyasu.
Kiwifruit grower Seeka provided NZ$2.6m ($1.8m) in funding for Fruitometry, the New Zealand-based developer of a software platform which uses machine learning to predict the performance of orchids, on Friday. The investment valued Fruitometry at $7m and follows a research and development project grant from Callaghan Innovation.
MobiGarage, the India-based operator of a business-to-business electronics e-commerce platform, has received an undisclosed amount in a pre-series A round featuring marketing technology provider MobAvenue and mobile internet technology provider AppyHigh Technology, Entrepreneur reported yesterday. VC firm SOSV led the round, which included Artesian, Inflection Point Ventures, LetsVenture and various individuals.
Malaysia-based property rental service SpeedHome has secured RM7m ($1.7m) in a series A round that included Allianz Malaysia, a local subsidiary of insurance group Allianz, Business Today reported yesterday. VC firm Gobi Partners also contributed to the round, which will support a regional growth drive that will begin with the company’s entry into Thailand.
Online supermarket Oisix Ra Daichi invested an undisclosed sum in Aiwell, a Japan-based developer of artificial intelligence proteomics technology, through its Future Food Fund yesterday. Aiwell had previously raised undisclosed amounts from angel investor Takafumi Kaya in July 2020 and pharmaceutical firm Taisho the following month.
ISee, the US-based developer of an artificial intelligence-powered autonomous driving system, identified Maersk Growth, the corporate VC arm of shipping firm Maersk, as an investor last month. VC firm Founders Fund had led a $15m series A round for the company in November 2019, following $2.7m in seed capital from investors including VC fund The Engine two years earlier.
Additional reporting by Liwen-Edison Fu and Thierry Heles.
