Funding
Consumer electronics manufacturer Xiaomi joined China Merchants Capital Management, a subsidiary of state-owned conglomerate China Merchants Group, to provide an undisclosed amount of funding for China-based computer vision and natural language processing technology provider Aibee today at a valuation of at least $1bn. Although the size of the round was not revealed, Bloomberg had reported in September 2021 the company was looking to raise about $100m in its forthcoming round.
China-based industrial digitisation technology developer Bluetron has closed a RMB500m ($78.6m) funding round featuring internet and telecommunications group SoftBank’s SBCVC vehicle, DealStreetAsia reported today. Investment firm ZSCO led the round, which came in the wake of an undisclosed amount from automotive component manufacturer Wanxiang and SDIC in 2018.
Industrial and chemicals group Koch Industries led a $73m series B round for Deepcell, the US-based creator of a system which applies artificial intelligence to single cell classification and isolation, through its Koch Disruptive Technologies subsidiary yesterday. Investment firm Bridger Healthcare, Horizons Ventures, Casdin Capital, Andreessen Horowitz and Bow Capital also took part, as did private investors Jeff Dean and Matt Mcllwain. The round took Deepcell’s overall funding to almost $100m.
Heirloom, the US-headquartered developer of a carbon capture removal system, received $53m in series A funding from investors including software producer Microsoft’s Climate Innovation Fund yesterday. The round was co-led by Carbon Direct Capital Management, Ahren Innovation Capital and Breakthrough Energy Ventures.
Social Interior, the Japan-based furniture subscription service formerly known as Subsclife, has received about ¥2.2bn ($18.5m) in funding from investors including CyberAgent Capital, a corporate venturing subsidiary of internet company CyberAgent. The round also featured Mizuho Capital and JIC Venture Growth Investments, on behalf of financial services firm Mizuho Bank and the state-backed Japan Investment Corporation respectively, in addition to debt financing from unnamed financial institutions.
UK-based digital advertising technology provider WeAre8 has raised $15m in a series B round that included Channel 4, the strategic media-for-equity vehicle for broadcaster Channel 4, Evening Standard reported yesterday. Centerstone Capital also contributed to the round, and WeAre8 intends to soon commence its first television advertising campaign on Channel 4.
Canopy, the US-based creator of a digital cancer care platform, emerged from stealth yesterday with $13m million in funding from investors including Samsung Next, a subsidiary of consumer electronics producer Samsung. Venture capital firm GSR Ventures led the round, which was also backed by UpWest and individuals including Geoff Calkins and Chris Mansi.
Health insurance provider Medibank invested $10m in Australia-based telehealth technology provider Medinet yesterday. The companies are already collaborating on services for international students who are not fluent in English.
Lava Labs, the UK-headquartered creator of an online arcade gaming platform, secured $10m from investors including Razer Computer, a subsidiary of gaming accessory producer Razer, as well as blockchain game developers Merit Circle, Dapper Labs and Animoca Brands. The round was led by Dialectic and also featured Dragonfly Capital, Defiance Capital, Weak Simp Cap, Maven11 and individuals including Santiago R Santos, Gabby Dizon and Nick Chong.
New Zealand-based game developer Studio MayDay has rebranded to Riffraff Games yesterday having raised a ‘significant amount’ from internet and gaming group Tencent. It has two titles in development including a stealth action game.
Germany-based payment technology developer Payrails has emerged from stealth with $6.4m in seed funding from investors including HV Capital, the VC firm backed by publisher Holtzbrinck. The round was led by fellow VC firm Andreessen Horowitz and also featured angel investors Emmanuel Thomassin, Jochen Engert, Dominik Richter, André Schwämmlein and Daniel Krauss.
Singapore-based digital securities platform developer InvestaX raised an undisclosed amount yesterday from investors including Coinbase Ventures and Gate Ventures, on behalf of cryptocurrency exchanges Coinbase and Gate.io, as well as conglomerate Thakral Corporation. The round also featured Token Bay Capital, Sustainability Exchange Group, Global Blockchain Ventures, Startup-O, JST Capital, Baksh Capital, Woodside Holdings Investment Management and private investor Balaji Srinivasan.
Coinbase Ventures also took part in a $3.5m seed round for US-headquartered blockchain game studio Third Time Entertainment yesterday. VC fund led the round, which included Reciprocal Ventures, 6th Man Ventures, Folius Ventures, Big Brain Holdings, Maven Capital and angel investors Ian Cummings, Paul Fleetwood and Brian Fleming.
Congomerate Libra Group provided an undisclosed amount of funding yesterday for green energy company GreenMet, a US-headquartered operator of supply chains for rare earth metals and minerals. Such materials are utilised in the kinds of renewable energy projects operated by Libra.
M12, the corporate venturing arm of software provider Microsoft, led a $2.7m seed round for US-based virtual healthcare software developer MedMe Health yesterday. Graphite Ventures, Y Combinator and Mars IAF was also among the participants.
US-based human resources software developer Skyminyr publicly launched yesterday with $2.5m in seed capital from investors including recruitment services firms IQTalent and True Search. The corporate was joined in the round by Caldwell Partners and Karmel Capital.
United Arab Emirates-based decentralised data brokerage developer Itheum raised $2.5m from blockchain platform developer Elrond, Mechanism Capital, Ascensive Asset Management, Woodstock, Skynet EGLD Capital, ZBS Capital, MHC Digital Finance and Spark Digital Capital yesterday. Its total funding stands at $4m.
Vault Comics, a US-headquartered comics publisher focusing on adaptable intellectual property, received an undisclosed amount of funding yesterday from talent agency UTA and Crush Ventures, the VC firm sponsored by music talent manager Crush. They were joined by private investors Jeff Ubben and Rick Matros as well as Black Squirrel Partners, the family office for metal band Metallica.
M&A
Human resources software provider Cornerstone OnDemand agreed yesterday to buy EdCast, a US-based employee training software provider backed by data services provider Relx, telecoms and internet group SoftBank, engineering and construction firm Penta Global, power and industrial equipment producer General Electric and energy supplier National Grid, for an undisclosed amount. The company’s overall funding stood at over $101m as of 2019.
Funds
Packaged food producer Meiji Group and brewer Asahi have contributed to the $10m first close of Japan-based food and agriculture technology investment vehicle AgFunder SIJ Impact Fund, DealStreetAsia reported today. The fund was formed by AgFunder Asia, a branch of investment, data and media firm AgFunder, and Japanese investment firm SDG Impact Japan. It has a target of $30m to $50m for its close.
Additional reporting by Liwen-Edison Fu.
