Funding
Neuspera Medical, a US-based neuromodulation system developer backed by pharmaceutical firm WuXi AppTec, completed a $65m series C round yesterday that was co-led by Vertex Ventures and Treo Ventures and which included Action Potential Venture Capital and Windham Venture Partners. The company had previously raised about $36m, closing a $26m series B round in early 2019 featuring 6 Dimensions Capital, the investment firm co-founded by WuXi AppTec, as well as Action Potential Venture Capital, Windham Venture Partners, Delta Capital and Purple Arch Ventures.
Coave Therapeutics, a France-based developer of gene therapy treatments for ocular and central nervous system diseases, added $25.1m to a series B round featuring Sham Innovation Santé, a subsidiary of mutual insurer Sham, today, increasing it to €33.1m ($39m). Seroba Life Sciences, Théa Open Innovation, EureKare, Fund+, Omnes Capital, V-Bio Ventures, Kurma Partners, Idinvest and Go Capital made up the rest of the round’s participants. Coave (then called Horama) secured $4.4m in series A funding from Sham Innovation Santé, Omnes Capital and Go Capital in 2016, following about $500,000 from BPIfrance the previous year.
Lev, the US-based operator of an online platform for real estate financing, secured $30m in series A funding yesterday from investors including real estate insurance provider First American Financial and JLL Spark, a subsidiary of real estate services provider JLL. The round was led by Greenspring Associates and also featured NFX, Canaan Partners, Animo Ventures and Ludlow Ventures. It valued the company at $130m, according to TechCrunch, and followed $10m in seed capital from JLL Spark, NFX, Caanan and existing backers Animo Ventures and Ludlow Ventures in March this year.
Inkbit, a US-based 3D printing developer backed by pharmaceutical equipment processor IMA, 3D printer producer Stratasys, health and nutritional product manufacturer Royal DSM, grocery delivery service Ocado, industrial and consumer technology provider 3M and advanced materials producer Saint-Gobain, raised $30m yesterday in a series B round led by growth equity firm Phoenix Venture Partners. The company secured $2.8m in an IMA-led seed round in 2017 before Stratasys and DSM subsidiary DSM Venturing co-led a $12m series A the following year that included Ocado, 3M unit 3M Ventures and Saint-Gobain.
US-based radiation therapy system developer Leo Cancer Care closed a $25.7m series B round yesterday featuring control system producer Cosylab, technology transfer consultancy Toret Devices and oncology services provider Radiation Business Solutions. They were joined by CHC, Pureland Global Venture, Yu Galaxy, Wisconsin Alumni Research Foundation, Alumni Ventures, Junson Capital and Serra Ventures. Leo’s parent company, Asto CT, had raised $1.8m in debt financing in 2018, $3.5m in a December 2019 equity round and $1.25m in a debt round in August 2020, according to securities filings.
Norway-based electric vehicle subscription service Imove has completed a €19m ($22.3m) series A round led by online automotive retailer AutoScout24 that consisted of $15.3m in primary funding and the rest through a secondary share sale, TechCrunch reported yesterday. Car dealership owner Hedin Automotive, Nysnø, Norselab and Idekapital also took part in the round. It had originally been announced by the company as a €16m round at the end of last month.
US-based haptic gloves developer HaptX raised $12m in series A-1 financing yesterday from investors including Verizon Ventures, the corporate venturing arm of telecommunications firm Verizon. The round was also backed by Mason Avenue Investments, Taylor Frigon Capital Partners and Upheaval Investments, and it boosted the company’s overall funding to $31m. That amount includes $12m secured in a late 2019 series A round featuring internet company NetEase, Mason Avenue Investments, Taylor Frigon Capital Partners, Upheaval Investments, Votiv Capital, Keiretsu Forum, Keiretsu Capital and Dawn Patrol Ventures.
Panda Restaurant Group, the owner of casual Chinese dining chain Panda Express, took part in a funding round of undisclosed size for US-headquartered restaurant chain Just Salad yesterday alongside investment firm Closed Loop Partners. The company, which closed $6m in funding in 2014 according to a regulatory filing, said this was its largest round yet, and named Panda Restaurant Group as an existing investor.
Agriculture-focused financial services firm Rabobank co-led a $10m series A round for US-based sensory data technology developer Aromyx yesterday through its Rabo Food&Ag Innovation Fund. The round was co-led by Sozo Ventures and also featured Ulu Ventures, Radicle Growth, Capital Energy and Merus Capital, taking its total funding to $17m. Aromyx raised $1.4m from TEEC Ventures, Stanford-StartX Fund, Spring Mountain Capital, DoubleRock VentureCapital and Propel(X) in 2015, $3.6m from Stanford-StartX Fund, Oriza Ventures, Rationalwave Capital Partners, Spring Mountain Capital, TEEC Angel Fund and angel investor Eric Di Benedetto in 2016 and $3m in seed capital from Ulu Ventures, Radicle Growth, Merus Capital, Stanford University, Rationalwave Capital and CE Venture Capital in June 2019.
Japan-based cell-free synthesis technology developer OriCiro Genomics received ¥800m ($7.3m) yesterday in a series B equity round led by The University of Tokyo Edge Capital Partners (Utec) and backed by trading group Itochu’s corporate VC unit, Itochu Technology Ventures. The round was boosted by a $1.8m long-term loan from Japan Finance Corporation and came after Utec provided $3.6m in series A funding for the startup at its April 2019 launch.
DeFine, the US-headquartered creator of a social platform for non-fungible token creators, secured $5m yesterday in a funding round co-led by talent agency Abyss, video game developer PearlAbyss and Huobi Ventures, the VC arm of digital currency exchange Huobi. They were joined by Draper Dragon, NGC Ventures, SevenX Ventures and angel investor 3Lau.
