AAA Daily Deal Round Up: June 7, 2022

Daily Deal Round Up: June 7, 2022

Funding

Envision Digital, the Singapore-based artificial intelligence and internet technology subsidiary of wind power producer Envision Group, has secured $210m in a series A round led by venture capital firm Sequoia China that also featured Singaporean sovereign wealth GIC.

Koch Disruptive Technologies, the corporate venturing subsidiary of chemicals and energy conglomerate Koch Industries, has led a $108m series E round for Vayyar Imaging, an Israel-based developer of automotive 4D imaging radar technology. Conglomerate Access Industries’ ClalTech unit also took part in the round, which included Gly Capital Management, Atreides Management, Battery Ventures, Bessemer Ventures, More VC and Regal Four.

Other funding

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Public markets

Intuity Medical, the US-based blood glucose monitor developer spun off by semiconductor technology developer Sarnoff Corporation, has cancelled its intended initial public offering on the Nasdaq Global Market, it stated in a letter submitted to the US Securities and Exchange Commission last Friday. The company had filed the IPO paperwork in September 2021 and had filed in September 2021 to raise up to $75m.

M&A

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Fund

Binance Labs, the social impact investment scheme run by cryptocurrency exchange Binance, has closed a $500m fund that counts unnamed corporations among its limited partners. DST Global Partners, Breyer Capital, Whampoa Group also contributed to the vehicle, as did unnamed private equity funds and family offices. It will provide funding for cryptocurrency, Web3 and blockchain technology developers.

Other

Kaodim, a Malaysia-based, home services-focused e-commerce platform backed by an affiliate of SIG Asia Investments, a vehicle for quantitative trading firm Susquehanna International Group, is set to cease operations on July 1, according to its co-founder and CEO, Choong Fui-Yu. Choong explained difficulties caused by covid-19 lockdown and rising costs were among the reasons for the decision. The company had raised a total of $11.5m as of a $7m series B round in 2017 that included SIG Asia.

By Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.