Funding
Moove, a UK-headquartered provider of financing for African ride hailing drivers, secured $105m in series A2 equity and debt financing yesterday from investors including financial services firm Mitsubishi UFJ Financial Group’s MUFG Innovation Partners subsidiary. Speedinvest, Left Lane Capital and Thelatest.ventures co-led the round, which also featured AfricInvest, Latitude and Kreos Capital.
US-based insurance software provider Socotra completed a $50m series C round yesterday featuring insurers MS&AD and Nationwide, which participated through subsidiaries MS&AD Ventures and Nationwide Ventures respectively. The round was led by Insight Partners and also backed by 8VC, Portage Ventures and Brewer Lane. Socotra said its overall funding now stands at $96m.
US-headquartered non-fungible token marketplace Magic Eden announced a gaming subsidiary called Eden Games yesterday alongside a $27m series A round featuring Solana Ventures, the investment arm of blockchain provider Solana. The round was led by crypto-focused investment firm Paradigm and included Sequoia Capital, Greylock Partners, Electric Capital and undisclosed other participants.
ArchiPro, the New Zealand-based operator of an online marketplace for home improvement products and building supplies, has secured NZ$35m ($23.9m) in series A funding from investors including electronic trading firm Liger Trading. Investment firm Tiger Global Management led the round, which also featured venture capital firm Icehouse Ventures.
Financial services firm Citi’s Impact Fund co-led a $15m series A round for Pallet, a US-based builder of sheltered structures for the homeless, with impact investment firm DBL Partners today. The round included four unnamed additional investors.
Media group Hearst took part in a $14m funding round for Conveyer, a US-headquartered provider of customer engagement software, through subsidiary HearstLab yesterday. Conveyer did not disclose the other investors in the round but Carolyn Parent, an executive in residence at HearstLab, has been appointed its president and chief executive.
Vira Health, a UK-based provider of digital healthcare for users experiencing menopause, has raised $12m from investors including health services provider Optum’s corporate venturing unit, Optum Ventures, TechCrunch reported today. The round was led by VC firm Octopus Ventures and also backed by existing investors LocalGlobe, MMC Ventures and Amino Collective.
Video game publisher Riot Games invested an undisclosed amount in France-headquartered animation studio Fortiche Production in return for a ‘significant’ stake earlier this year, it revealed yesterday. The companies had already collaborated on several promos for Riot titles in recent years.
Spain-based trucking services provider Trucksters has received €8m ($8.8m) in funding from investors including APX, the VC vehicle formed by media group Axel Springer and sports car producer Porsche, Tech.eu reported yesterday. Kibo Ventures, Amplifier, Bonsai Partners, Big Sur Ventures, Metavallon VC and The Valley VC also participated in the round along with private investors Sacha Michaud and Juan Urdiales.
IDAM Natural Wellness, the owner of cosmetics brand Bella Vita Organic, has paid an undisclosed amount for a 40% stake in India-based organic instant coffee startup Bevzilla, VCCircle reported today. The corporate also intends to invest $1m in product development, marketing and team building activities at Bevzilla.
UK-based digital fitness studio Blok raised £3.75m ($4.9m) in pre-series A funding from investors including real estate developer The Santon Group yesterday. ACF Investors led the round, which included the UK government’s Future Fund, Elcot Capital, Crowdcube and angel investor Rob Wirszycz.
Consumer electronics manufacturer Samsung provided an undisclosed amount of funding for US-headquartered renewable fuel producer Raven SR yesterday through corporate venturing unit Samsung Ventures. Raven had previously received $20m in funding from petroleum supplier Chevron, diversified trading group Itochu, fuel cell-powered vehicle developer Hyzon Motors and Ascent Hydrogen Fund in August 2021.
Pareto, the US-based developer of an intelligent digital assistant for sales teams, completed a $4.5m seed round in November 2021 that included marketing and design agency Slope, TechCrunch reported yesterday. Mac Venture Capital led the round, with Seabed VC, Soma Capital, Fearless Fund, Liquid2 Ventures and angel investor Jonathan Swanson also taking part.
Marindows, the Japan-based creator of a health and safety digitisation service for marine crews, received approximately ¥200m ($1.7m) in seed funding today from investors including shipping groups Imoto Lines and Tokyo Kisen, marine electronics producer Furuno and Mitsubishi Shipbuilding, the shipbuilding subsidiary of engineering group Mitsubishi Heavy Industries. The corporates were joined by an undisclosed fifth investor.
Japan-based pop culture museum operator T Museum raised an undisclosed amount from mobile game publisher Akatsuki and mobile gaming content provider Kayac today. The newly formed startup will take over management of the Unko Museum set up by Akatsuki in 2019.
M&A
Travel booking services provider Flight Centre Travel Group has paid an undisclosed amount to increase its stake in portfolio company TPConnects, a United Arab Emirates-based developer of travel agency software, to 70% yesterday. The corporate had initially invested an undisclosed sum in return for a 22.5% stake in early 2020.
Additional reporting by Liwen-Edison Fu. Photo courtesy of Moove Africa B.V.
