Funds
Deutsche Post Foundation, a foundation formed by postal services firm Deutsche Post DHL, and financial services firm Lombard Odier were among the limited partners that helped UK-based impact investment firm Systemiq Capital reach a €69m ($70m) first close for its second fund. The climate technology-focused vehicle has a €200m target and its other LPs include Andre Hoffman, The Grantham Foundation for the Protection of the Environment, Dara Holdings, Stephen Brenninkmeijer, Mark Cutifani, Erik Fyrwald and Chad Holliday.
Financial services firm Arab National Bank has teamed up with an unnamed Saudi state-owned tourism fund to form a SAR300m ($80m) scheme to back small and medium-sized businesses operating in the hospitality sector, providing up to SAR3m per company, Arab News has reported.
M&A
Jewel Paymentech, a Singapore-based payment fraud prevention technology developer backed by internet company GMO, has been acquired by artificial intelligence software provider Advance Intelligence Group for an undisclosed amount. GMO subsidiary GMO Payment Gateway led a series A-plus round of undisclosed size for the company in 2018, two years after a $1m seed round.
Bankruptcy
Modsy, a interior design platform developer that counts mass media group Comcast, media company Advance Publications, internet and technology group Alphabet and telecommunications firm Verizon, as investors, ceased operations earlier this month to undergo an insolvency proceeding, TechCrunch reported yesterday, citing an email from the company’s founder and CEO, Shanna Tellerman. It had raised over $70m as of a 2019 round featuring corporate venturing units Comcast Ventures and Advance Venture Partners.
Funding
| Company | Company description | Sector | Country | Round | Deal size($m) | Date | Investors | ||
|---|---|---|---|---|---|---|---|---|---|
| Stori | Underbanked population-focused credit card provider | Financial | Mexico | C2 | 150 | 18/07/2022 | Bertelsmann (BAI Capital) (co-lead); GIC (co-lead), GGV Capital (co-lead), Lightspeed Venture Partners, General Catalyst, Vision Plus Capital, Goodwater Capital, Tresalia Capital, Davidson Kempner Capital Management [$50m equity funding], Davidson Kempner [$100m debt facility] | ||
| 5ire | Layer one blockchain network operator | Financial | UAE | A | 100 | 15/07/2022 | Sram and Mram | ||
| Everdrop | Sustainable cleaning agent producer | Consumer | Germany | B | 81.2 | 14/07/2022 | Vorwerk (Vorwerk Ventures); Lombard Odier (unnamed impact fund), Sofina (lead), TriplePoint Capital, Felix Capital, HV Capital | ||
| CathWorks | Medical equipment manufacturer | Healthcare | Israel | N/A | 75 | 12/07/2022 | Medtronic | ||
| Robin | Hybrid workplace provider | Services | US | C | 30 | 14/07/2022 | Allegion (Allegion Ventures); Tola Capital (lead), Firstmark, Accomplice, Boldstart, Allegion Ventures | ||
| Apiture | Digital banking service | Financial | US | N/A | 29 | 14/07/2022 | Live Oak Bancshares (Live Oak Bank) (lead), Pinnacle Bank, BHG Financial; unnamed existing investors | ||
| Immotor Technology | Sustainable battery exchange service | Energy and Natural Resources | China | C | 28 | 15/07/2022 | PTT Public Company, Petronas (PIVL), Hyperchain Technology; Utrust Fund (lead), Pksha Sparx Algorithm Fund, Uone Capital | ||
| Phaidra | Provider of AI-equipped industrial process management software | IT | US | A | 25 | 15/07/2022 | Helena; Starshot Capital (lead), Ahren Innovation Capital, Mustafa Suleyman, Flying Fish Partners, Section 32, Character | ||
| UnCaged Studios | Web3-driven gaming studio | Media | Israel | A | 24 | 14/07/2022 | DraftKings (Drive by DraftKings); Griffin Gaming Partners, Vgames, Maverick Ventures Israel, 6th Man Ventures | ||
| Element | Insurance technology developer | Financial | Germany | B | 21.7 | 15/07/2022 | Versorgungswerk Zahnärztekammer Berlin (VZB) (lead); Mundi Ventures, Witan Group, Ilavska Vuillermoz Capital | ||
| Kitabeli | Social commerce platform operator | Consumer | Indonesia | N/A | 20 | 18/07/2022 | GoTo Group (Go-Ventures); Glade Brook Capital Partners (lead), AC Ventures, InnoVen Capital | ||
| Stationhead | Social music platform developer | Media | US | A | 12 | 14/07/2022 | Red Light Management, TMWRK, Round Hill Publishing, Avex Entertainment; Buttonwood Group Advisors (lead), Thomas Wesley Pentz Jr, Craig Kallman, Julie Greenwald, Kevin Liles, Jason Flom | ||
| Spinview | Data visualisation software developer | IT | UK | Pre-A | 6.6 | 13/07/2022 | Alchemmy; UK Future Fund, unnamed angel investors, | ||
| Hologram | Video call-focused avatar provider | Services | US | Seed | 6.5 | 14/07/2022 | Quantstamp; Polychain Capital (lead), South Park Commons, The Operating Group, Nascent, Inflection, Neon DAO, Foothill Ventures | ||
| Helios | Sustainable steel production process developer | Industrial | Israel | Seed | 6 | 13/07/2022 | Doral Energy (Doral Energy-Tech Ventures); At One Ventures (lead), Metaplanet, unnamed mining company | ||
| Super Mojo (Supermojo) | Digital asset financing platform | Financial | US | Seed | 6 | 14/07/2022 | DRW (DRW Venture Capital) (co-lead), Ripple, Gemini, Circle (Circle Ventures), BlockFi (BlockFi Ventures); BH Digital (co-lead), Draper Labs; Intersection Growth Partners (co-lead), Neuberger Berman (co-lead), Sfermion, Arca, Everyrealm, Arrington Capital, Crossbeam Venture Partners, FJ Labs, FBG Capital, OP Crypto, Red Beard Ventures | ||
| Xage | Cybersecurity technology developer | IT | US | B (extension) | N/A | 14/07/2022 | Chevron (Chevron Technology Ventures) | ||
| Shanghai Top Numerical Control Technology (TopNC) | Aerospace industry-focused manufacturing equipment provider | Industrial | China | D | N/A | 15/07/2022 | Legend Holdings (Legend Capital) (lead); Jiufite Management, Tide Investment, FC Innovation Fund |
