Public Markets
China-based logistics service provider GogoX went public today in an $85m initial public offering on the Hong Kong Stock Exchange that provided exits for corporate investors Cainiao, 58.com, Singapore Press Holdings, Renren and Alibaba. The company had raised at least $377m altogether, as of a $100m round in July 2021. Its share price fell 22% on its first day of trading, giving it a market capitalisation of about $1.3bn.
SoCar, the South Korea-based car sharing service backed by telecommunications and internet group SoftBank, has set the range for an IPO on the Korea Exchange that could net the company KRW207bn ($159m) if it floats at the top of its range, Reuters reported today. The offering is set to consist of 4.6 million shares priced at KRW34,000 to KRW45,000 each. It had accumulated $275m in funding as of late 2020, when it secured $50m at a reported valuation of over $830m.
M&A
Banking software provider Colendi has paid an undisclosed amount to acquire Setl, a UK-based payment settlement technology provider backed by professional services firm Deloitte and financial services provider Credit Agricole. Setl had raised a total of about $39.5m as of a Deloitte investment in 2016, before Crédit Agricole added an undisclosed amount two years later.
Other funding
| Company | Company description | Sector | Country | Round | Round size ($) | Deal date | Investors | |
|---|---|---|---|---|---|---|---|---|
| LegalForce | Contract management software provider | Information Technology | Japan | D | 102 | 23/06/2022 | SoftBank Vision Fund 2 (lead), Mizuho Financial Group (Mizuho Capital), Mitsubishi UFJ Financial Group (Mitsubishi UFJ Capital); Goldman Sachs, Sequoia China, World Innovation Lab. | |
| DEM BioPharma | Tumour immunotherapy developer | Healthcare | US | N/A | 70 | 23/06/2022 | Pfizer (Pfizer Ventures), Astellas (Astellas Venture Management), Alexandria Real Estate Equities (Alexandria Venture Investments); Longwood Fund (co-lead), Alta Partners (co-lead), Emerson Collective, UTokyo Innovation Platform | |
| Hokodo | Enterprise buy now, pay later service provider | Financial | UK | B | 40 | 23/06/2022 | (BNP Paribas (Opera Tech Ventures); Notion Capital (lead), Korelya Capital, Mundi Ventures | |
| Evinced | Software development technology provider | Financial | US | B | 38 | 23/06/2022 | Capital One (Capital One Ventures), Microsoft (M12); Insight Partners (lead), Benhamou Global Ventures, Engineering Capital | |
| Medallion | Healthcare services management platform | Healthcare | US | C | 35 | 23/06/2022 | Alphabet (GV) (co-lead), Salesforce (Salesforce Ventures), Optum (Optum Ventures); Spark Capital (lead), Sequoia Capital, BoxGroup, Elad Gil | |
| Statiq | Electric vehicle charging network | Energy and Natural Resources | India | A | 25.7 | 23/06/2022 | Shell Ventures (lead) | |
| Airspace Link | Drone safety software provider | Industrial | US | B | 23 | 23/06/2022 | CSAA Insurance Group (Avanta Ventures) (lead), Thales; Morningside, Caprock, Altos Ventures, Indicator Ventures, 2048 Ventures, Detroit Venture Partners | |
| Cryptoys | An NFT startup for children | Financial | US | N/A | 23 | 23/06/2022 | Mattel, Dapper Labs, Animoca Brands; Andreessen Horowitz (a16z Crypto, Draper & Associates, Acrew Capital, CoinFund, Sound Ventures | |
| Hadrian | Cybersecurity software provider | Information Technology | Netherlands | Seed | 11 | 23/06/2022 | Holtzbrinck (HV Capital) (lead); Picus Capital, Slimmer AI, Adriaan Mol, Koen Köppen and Niklas Hellman | |
| Matter | Electric motorcycle developer | Transport | India | N/A | 10 | 24/06/2022 | Info Edge (Info Edge Capital 2B Fund 1); Climate Angel Fund | |
| Symbrosia | Seaweed to feed additive producer | Industrial | US | A | 7 | 23/06/2022 | Danone (Danone Manifesto Ventures), Sumitomo (Presidio Ventures), Kamehameha Schools; Pacific6, Hatch, Mana Up | |
| Philduct | Provider of 3D-printed orthodontic products | Healthcare | Japan | 1.1 | 23/06/2022 | Segment; Mistletoe Japan (lead), Open Ventures | ||
| Seam | Low-alcohol drink brand | Consumer | Japan | N/A | .46 | 23/06/2022 | Opt (Bonds Investment Group)(lead); iFund, Hiroshima Venture Capital, Full Commit Partners | |
| Jinger | Back-office software provider | Information Technology | Japan | A | N/A | 23/06/2022 | Link and Motivation | |
| Asimily | Risk management software provider for connected devices | Information Technology | US | N/A | N/A | 23/06/2022 | MemorialCare (MemorialCare Innovation Fund); Ridge Ventures (lead) |