Funding
Sweden-based telemedicine platform operator Doktor.se has secured €50m ($61.1m) from Consensus Asset Management, Norron and Skabholmen Invest in a round that involved health product manufacturer Oriola selling some of its shares, Tech.eu reported yesterday. Financial services firm Handelsbanken and Carnegie co-led a $50m round for the company in May 2020 that included Oriola and Bonnier Ventures, the corporate venturing arm of media company Bonnier. Oriola held a 17% stake in the company as of a $14.9m round in 2018 that followed $1.6m in earlier funding from assorted individuals.
US-based online bicycle marketplace The Pro’s Closet has received $40m in a series B round that included over-the-top media company The Chernin Group, Bicycle Retailer has reported. Edison Partners, Foundry Group and Ridgeline Ventures also took part in the round having co-led a $12m round for the company in September 2020. Ridgeline Ventures invested $2.5m in The Pro’s Closet in 2016 before joining Foundry Group to provide $9m the following year. It added $4.9m from unnamed investors in December 2019 according to a securities filing.
Sweden-based retail software provider Yabie has closed a SEK200M ($26.4m) funding round featuring financial services firm Swedbank, Brightly Ventures and NFT Ventures, Nordic 9 has reported. Swedbank led a $5.2m round for the company – then known as Kaching Retail – in May 2019 that included financial services firm Collector Bank, Brightly Ventures and private investor Erik Stannow.
Verizon Ventures, the investment arm of telecommunications firm Verizon, has co-led a $20m series B round for Israel-based network security technology provider SAM Seamless Network with mobile device maker BlackBerry. The round included chipmaker Intel’s corporate venturing unit, Intel Capital, as well as security technology producer ADT, Blumberg Capital and NightDragon. SAM has now raised $36m in total, $12m coming from Intel Capital, ADT, NightDragon and existing investor Blumberg Capital in a 2018 series A round.
Conglomerate Fosun’s Fanyi Fund has led a series B round sized above RMB100m ($15.7m) for Yunphant Blockchain, a China-based provider of smart blockchain technology, DealStreetAsia has reported, citing a WeChat post. Shenzhen Capital Group and Hangzhou Hotland Development Fund also took part in the round, which followed an undisclosed amount of series A-plus funding from Zhejiang Yxassets Investment Management in September 2019 and an eight-figure renminbi amount from unnamed backers three months later. Hyperspace Capital, Granview Asset Management and WI Harper Group are also investors.
Financial services firm Commonwealth Bank of Australia has provided A$20m ($15.5m) in series B funding for Australia-based wholesale energy retailer Amber Electric through a partnership agreement. Square Peg Capital led a $1.7m seed round for Amber in September 2019 that included Giant Leap, existing backer Black Sheep Capital and angel investors including Simon Sheikh and Anna Ros. It preceded a reported A$10m series A round featuring Main Sequence Ventures, Square Peg and Giant Leap at an undisclosed date.
Zaion, a France-based developer of artificial intelligence-equipped customer service technology, has raised €9m ($11m) in a series A round that included insurance firms La France Mutualiste and Pro BTP, the latter through subsidiary Pro BTP Innovation. The round was co-led by Fortino Capital and Truffle Capital and also featured BPIfrance. The company had secured $3.4m in seed capital from La France Mutualiste and undisclosed angel investors in April 2019.
US-based drone integration software provider Airspace Link has closed a $10m series A round led by venture capital firm Altos Ventures and backed by Thales, a producer of air traffic management systems. The company raised $1m in pre-seed funding from unnamed investors in September 2019 and added $3m from Indicator Ventures, 2048 Ventures, Ludlow Ventures, Matchstick Ventures, Detroit Venture Partners and Invest Detroit in January 2020 according to TechCrunch. It named Techstars as an earlier investor last week.
Scania Growth Capital, a corporate venturing subsidiary of commercial vehicle manufacturer Scania, has supplied an undisclosed amount of series A funding for Germany-based lidar technology developer Scantinel Photonics. The size of the investment was reported by Aftermarket News to be €7.5m ($9.1m), and Scantinel has revealed Zeiss Ventures, the corporate venturing subsidiary of optical system producer Zeiss Group, is an earlier investor.
US-headquartered mobile game studio Double Loop Games has completed an $8m funding round featuring video game producers Garena and Riot Games, VentureBeat has reported. The round was led by VC fund Hiro Capital and included London Venture Partners (LVP), which had previously led the company’s $2.5m seed round in February 2020, investing alongside 1Up Ventures and unnamed others.
Digital collectibles technology developer Dapper Labs and avatar technology producer Genies have participated in a $6m seed round for US-based digital artwork technology provider Infinite Objects, TechCrunch has reported. Courtside VC led the round, which also featured Serena Ventures, Betaworks, Brooklyn Bridge Ventures, GFR Fund, Sound Ventures and angel investors Kevin Durant and Rich Kleiman.
QuickNode, the US-based creator of a blockchain development platform, has received $5.3m in seed funding from investors including telecoms and internet group Softbank’s Opportunity Fund, Coindesk has reported. VC firm Seven Seven Six led the round, which was also backed by Arrington XRP Capital, Crossbeam Venture Partners and angel investor Anthony Pompliano.
Financial services firm Barclays has led a £3.6m ($5.1m) seed round for Kitt, a UK-based provider of workspace integration technology for landlords, through strategic investment arm Barclays Ventures, TechCrunch has reported. The round came after angel investor Andrew Barclay led a $2.5m earlier seed round in September 2019.
Canly, a Japan-based provider of store information centralisation software, secured ¥460m ($4.2m) today in equity and debt financing from investors including internet and telecoms group SoftBank’s Deepcore fund, conglomerate Sojitz, marketing firm Vector and corporate data aggregator Uzabase’s UB Ventures unit. The round also featured financial services firms Mizuho Bank and Mitsubishi UFJ – through Mizuho Capital and Mitsubishi UFJ Capital – as well as VC firm Jafco. Canly had received $630,000 from food service provider Naciel Holdings, Japan Finance Corporation and 11 angel investors in July 2020.
Arta, a US-based logistics services and software provider focusing on expensive goods that counts auction house Sotheby’s and art gallery David Zwirner Gallery as investors, has raised $4.5m in seed capital from Corazon Capital, Gaingels Ventures and Flight.VC. The company had secured $3m from David Zwirner Gallery, Sotheby’s, Notation Capital and undisclosed others in 2017 following $1m from Sotheby’s, Notation Capital, Lightbank, Graph Ventures and angel investors including David Zwirner in 2015.
Transport infrastructure producer Ferrovial has invested an undisclosed amount in Finland-based mobility app developer MaaS Global. The company had raised $33m in November 2019 from BP Ventures, a subsidiary of petroleum supplier BP, as well as conglomerate Mitsubishi and Nordic Ninja. It had secured a total of $29.7m as of a $10.4m round in 2018, and its earlier investors include corporates Toyota, Karsan, Denso, Aioi Nissay Dowa, Swiftcom, Veho, Transdev, Korsisaari, Good Sign, GoSwift, IQ Payments and Neocard.
Curreio, the Japan-based developer of a technology platform for cryo-electron microscopy structural analysis, received ¥310m ($2.8m) today in a series A round featuring drug discovery technology provider Gemseki’s corporate VC vehicle, Gemseki Investment Limited Partnership, and pharmaceutical firms Asahi Kasei Pharma and Ono Pharmaceutical, the latter through its Ono Venture Investment unit. VC firm Beyond Next Ventures led the round, which came after $290,000 from unnamed angel investors in November 2019.
Robotics technology provider Autonomous Control Systems Laboratory’s ACSL1 fund took part in a round of undisclosed size today for Aeronext, a Japan-based developer of drone research technology. It was joined by Logistics Innovation, a VC fund anchored by shipping group Seino Holdings. Aeronext raised $700,000 in pre-series A funding from internet company Aucfan, engineering consultancy Japan Asia Group, financial services firm Fukuoka Financial Group’s FFG Venture Business Partners unit and Drone Fund in 2018 and an undisclosed sum from human resources provider Change Japan in August 2019.
Idoven, the Spain-based creator of a system that uses AI to diagnose heart problems, has secured €2m ($2.4m) from investors including Wayra, the open innovation arm of telecoms firm Telefónica, Applicantes has reported. Accel, Enisa and undisclosed angel investors also contributed to the round, which brought the company’s overall funding to roughly $3.6m. Its earlier investors include former professional footballer Iker Casillas.
Docodoor, the Japan-based creator of code-free app development platform Applimo, received an undisclosed amount from co-working space provider Fabbit, Japan Startup Support Association and Nippon Venture Capital today. It raised $250,000 from Niigata Venture Capital in 2016 before the VC firm joined unnamed others to add $340,000 the following year. It then secured $230,000 from financial services firms Daishi Bank’s Daishi Business Support Fund and Ogaki Kyoritsu Bank’s OKB Capital unit in January 2019.
EcoNavista, the Japan-based creator of a sleep analysis system called LifeRhythmNavi+Dr for use in senior care, raised an undisclosed amount of funding from consumer electronics producer Sony’s Innovation Fund. The company, a spinout of Osaka City University, had already received undisclosed amounts from gas utility Tokyo Gas in 2018 and real estate brokerage Hulic in February 2020.
Accounting software provider Money Forward and insurance firm Nippon Life supplied ¥100m ($910,000) in funding for Japan-based online retail marketplace Homula yesterday. The cash was invested through their respective corporate venturing subsidiaries: Money Forward Venture Partners (through its Hirac Fund) and Nissay Capital.
Internet company CyberAgent led a seed round of undisclosed size today for Meda, the Japan-based creator of a digitalisation software platform for healthcare documentation, through its CyberAgent Capital unit. Social welfare organisation Ittokai also participated in the round.
Smart-Contract Initiative, a Japan-based developer of financial transaction digitalisation technology, received an undisclosed amount from insurance agency IRRC today. The company’s technology allows for the centralised management of insurance contracts.
Cryptocurrency exchange operator Coinbase has participated in a $500,000 pre-seed round for Anima, a US-based developer of augmented reality art-viewing software, through corporate venturing vehicle Coinbase Ventures, TechCrunch has reported. Divergence Ventures, Flamingo DAO and angel investors Lyle Owerko and Andrew Unger also contributed to the round.
Internet group Cybridge invested an undisclosed amount in Japan-based petcare information provider Petcierge yesterday. The latter is the owner of Pet Heart, an app which offers detailed data to pet owners and which is due to be launched next month.
M&A
ClearMetal, a US-based developer of supply chain data technology, has been bought by logistics software producer Project44 for an undisclosed sum, enabling enterprise software provider SAP, warehouse owner Prologis, port operator PSA and vehicle chassis manufacturer Direct ChassisLink to exit. All the corporates took part in a $15m round in February 2020 alongside Eclipse Ventures, Prelude Ventures, Innovation Endeavors and New Enterprise Associates that took the company’s total funding to $31m.
Intel Capital, the corporate VC arm of semiconductor and data technology producer Intel, has exited US-based data analysis technology developer Text IQ in an acquisition of undisclosed size by legal and compliance technology producer Relativity. Intel has not disclosed when it invested but Text IQ had raised a total of $16m as of a $12.6m round in June 2019 led by FirstMark Capital and backed by Sierra Ventures.
Digital signature technology provider DocuSign has agreed to purchase one of its portfolio companies, US-based smart contract software developer Clause, for an undisclosed amount. The corporate had taken part in a $5.5m round in June 2019 led by Galaxy Digital’s EOS Venture Capital Fund and also backed by BN Capital, Lerer Hippeau, Seedcamp, Raptor Group and private investors Nat Turner, Zach Weinberg, Tom Gonser and Jonathan Summers. Clause had raised an undisclosed sum from Seedcamp and law firm Dentons’ Nextlaw Labs subsidiary in 2016 and $790,000 from unnamed investors the following year.
Altruist Technologies, the owner of co-living platform Abuzz, has acquired Singapore-based student accommodation provider Oxfordcaps in a deal of undisclosed size allowing media company Bennett Coleman & Co to exit, Entrackr has reported. The corporate’s Times Internet subsidiary led an $8.1m series A round for the company in early 2019 that included Kalaari Capital and 500 Startups, after the latter had joined ReadyVentures and unnamed individuals to provide an undisclosed amount of seed funding two years earlier.
Additional reporting by Liwen-Edison Fu.
