Funding
Baxter Ventures, the corporate venture capital vehicle for pharmaceutical firm Baxter International, led a $25m series C round for US-based predictive healthcare software provider Hospital IQ yesterday that included healthcare management software producer Allscripts, Health Velocity Capital and Pierpoint Capital. The company raised $7m from Pierpoint Capital and Black Granite Capital in 2015 before adding $6.2m from unnamed investors the following year and $10m in 2018, according to securities filings. Longworth Venture Partners lists it as a portfolio company, and it named Allscripts as an existing investor.
Botrista Technology, the US-headquartered developer of a robotic coffee barista system, completed a $10m series A round yesterday co-led by take away food chain La Kaffa International and investment firm Purestone Capital. Food preparation equipment maker Middleby Corporation also took part in the round, as did consumer electronics producer Sony’s Innovation Fund and chemicals producer PIDC. It had raised $570,000 in September 2019, according to a regulatory filing, and added $4m from unnamed investors in May 2020.
Instalment payment service Afterpay and its corporate venturing unit, AP Ventures, have combined to invest $10m in Postpay, the United Arab Emirates-based operator of a buy now, pay later service, Reuters reported yesterday. The deal will give AP Ventures a seat on Postpay’s board of directors, and the cash will support its growth in the Middle East and North Africa region.
Electrochaea, a Germany-based developer of renewable methane production technology, raised an undisclosed amount yesterday from investors including energy technology producer Baker Hughes, which acquired a 15% stake, gas distributor Energie 360° and energy utility Engie’s energy storage subsidiary, Storengy. They were joined by Munich Venture Partners (MVP), KfW, Caliza, Focus First and Btov Partners. The company had raised an undisclosed sum from Nidus Investment Partners in 2011 and ‘several million euros’ (€1m = $1.25m at contemporary rates) in series A funding from MVP, Btov Partners, Caliza, Focus First, KfW and Sirius Venture Partners in 2014.
EV.Energy, a UK-headquartered provider of electric vehicle charging services, secured $8.8m in series A funding on Sunday from investors including energy utility Eon’s corporate venturing and collaboration vehicle, Future Energy Ventures. Energy investment platform Energy Impact Partners led the round, which also featured merchant bank Cyan Finance, private investment vehicle Dunelm Energy and unnamed individuals. The transaction came after the company received a $330,000 grant from Innovate UK in December 2019.
Providence Ventures, the investment arm of healthcare provider Providence, supplied an undisclosed amount of funding for US-based medical data software developer RxRevu yesterday through a strategic partnership agreement. Jazz Venture Partners led a $7m series B round for in January this year that increased RxRevu’s overall funding to $28m, and it secured $15.9m in a 2019 series A round led by health system UCHealth and backed by care providers Froedtert, Presbyterian Healthcare Services, Children’s Hospital Colorado and UnityPoint Health, Medical College of Wisconsin’s Inception Health unit, Jazz Venture Partners and LVG Venture Fund.
Consumer goods producer Emami has paid an amount reported by VCCircle to be almost Rs 500m ($6.7m) to increase its stake in Helios Lifestyle, the India-based owner of men’s grooming brand The Man Company, from 33.1% to 46% yesterday. It agreed to purchase a 30% stake in the company in 2017 and acquired additional shares in February 2019.
US-headquartered digital wealth technology provider Marstone increased its series A round to $5m yesterday, adding $2.5m in a second tranche led by financial services firm Amerant Bancorp. Wealth management services firm Apex Fintech Solutions led the round’s first close, and it also features angel investors including Peter Kraus, John Thain, Kristen Dickey, Tom Freeman, Michael Rafferty and Richard Wastcoat. The company said its overall funding now stands at $20m.
Candidate Labs, the US-based operator of a technology-facilitated executive recruitment service, disclosed yesterday it has received an undisclosed amount of funding from Salesforce Ventures, the investment arm of enterprise software producer Salesforce, as well as FJ Labs, Uncommon Capital and individuals including Jack Altman, Jamie Quint and Keller Rinaudo. It had emerged from stealth in June 2020 with $5m in seed capital from SignalFire, Fuel Capital, BoxGroup and angel investors Jack Altman, Eric Wu and Ian Wong.
Thursday, the UK-headquartered operator of a dating app which is only accessible one day a week, has launched with £2.5m ($3.5m) in funding from backers including Best Nights VC, the strategic investment arm of alcoholic beverage producer Mast-Jägermeister, TechCrunch reported yesterday. Ascension Ventures, Connect Ventures and undisclosed others also took part in the round.
M&A
Broadcaster A+E Networks and internet technology provider Google exited US-based augmented reality software developer Ubiquity6 yesterday in an acquisition of undisclosed size by online messaging platform developer Discord. Google’s Gradient Ventures fund joined A+E, Index Ventures, media holding company WndrCo, Kleiner Perkins Caufield & Byers, LDV Partners and First Round in Ubiquity6’s $10.5m series A round in April 2018, before it added $27m in a series B round co-led by Index Ventures and Benchmark four months later.
Health and cosmetic product distributor Tamer Group has paid an undisclosed amount for a majority stake in portfolio company Mumzworld, the United Arab Emirates-based operator of an e-commerce platform for mothers, Wamda reported yesterday. Mumzworld had raised $50m according to Wamda – one of its investors – including $20m from Gulf Islamic Investments in 2018. Its earlier backers also include Twofour54, Swicorp, Endeavor Catalyst, Precinct Partners and WSB Holding.
