Funding
Singapore-based digital asset exchange Zipmex has added $10m from financial services firm Bank of Ayudha’s Krungsgri Finnovate unit, outdoor advertising services provider Master Ad, B Capital, TNB Aura, Mindworks Capital and unnamed others to a series B round now sized at over $51m, Tech in Asia reported today. Krungsi Finnovate and Master Ad had joined advertising agency Plan B Media Public Company in the round’s August 2021 series B first close.
MetaMagnet, the US-based owner of blockchain gaming platform C2X, has completed a $25m private token sale co-led by blockchain game developer Animoca Brands, digital currency exchange FTX and trading firm Jump Trading, the last two through FTX Ventures and Jump Crypto respectively. The sale, which valued the company at $500m, included cryptocurrency exchanges Huobi (through Huobi Ventures) and Crypto.com, stablecoin developers Terra and Skybound, blockchain technology producers Concept Art House and Bowei, game commerce software provider Xsolla, Hashed, Transcend Fund, Galaxy Interactive, Blockchain Coinvestors, DeFiance Capital, Play Ventures, Infinity Ventures Crypto, Unanimous Capital, Goal Ventures, Agnitio Capital and Formless Capital.
Ponto, the US-headquartered operator of an online platform which connects local economies to global financial products, has closed a $20m seed round that included decentralised application software provider Alchemy. The round was co-led by General Catalyst, Polychain and Nomo VC and also backed by LocalGlobe, 186 Ventures, 468 Capital, BoxGroup, EchoVC, 6th Man Ventures, Flori, Table Management, Fintech Fund and Chapter One Ventures.
Australia-based mining optimisation technology developer Plotlogic received A$18m ($13.3m) in series A funding yesterday from investors including BHP Ventures and Baidu Ventures, subsidiaries of mining company BHP and internet group Baidu respectively. Innovation Endeavors led the round, which also featured Touchdown Ventures, DCVC and Grids Ventures.
GGWP, the US-based creator of an artificial intelligence tool designed to moderate communication in gaming, secured $12m from investors including consumer electronics producer Sony’s Innovation Fund and video game studio Riot Games yesterday. The round was led by Bitkraft Ventures and also backed by Makers Fund, Griffin Gaming Partners and private investors Emmett Shear, Kevin Lin, Steve Chen, CH Kim and Pokimane.
Insurance software provider HDI Group’s Hannover Digital Investments unit, insurance quoting software producer Plexus Groupe, insurance firm IMA Financial Group, recruitment firm The Graham Agency and insurance brokerage Holmes Murphy & Associates took part in US-based smart insurance tool developer Layr’s $10m series A round yesterday. The round was led by Hudson Structured Capital Management’s HSCM Ventures unit and included Maschmeyer Group Ventures, Sandbox Industries, Flyover Capital, The Partners Group and BrokerTech Ventures.
Flylogix, a UK-based provider of drone services which enable users to detect methane leaks, raised £6m ($8m) today in a funding round led by £3m from oil and gas supplier BP’s strategic investment arm, BP Ventures. The cash will support the company’s geographic expansion.
British Virgin Islands-registered interest rate-management software developer Struct Finance completed a $3.9m seed round yesterday featuring Bixin Ventures – part of cryptocurrency exchange Bixin – as well as smart contract platform developer Avalanche’s Blizzard Fund, digital asset trader QCP Capital and crypto market maker Wintermute. The round’s 24 investors also included Antler, Arcanum Capital, Assymetries Technologies, Avalaunch, AVentures Dao, Bison Fund, Double Peak, FBG Capital, Finality Capital Partners, Infinity Ventures Crypto, Keychain Capital, Lancer Capital, Lucidblue Ventures, MC Ventures, SCC Investments, Skyvision Capital, Spark Digital, Woodstock, Zokyo and 0xVentures.
Automotive component manufacturer Bridgestone provided an undisclosed amount of funding for US-based autonomous vehicle technology developer May Mobility yesterday. Insurer Tokio Marine and automotive manufacturers BMW and Toyota had contributed to May’s $83m series C round in January this year, doubling its total funding to $167m.
Proprietary trading firm Jump Trading’s Jump Crypto subsidiary has co-led a $2.75m funding round for Prime Protocol, the creator of a decentralised prime brokerage designed to function on multiple blockchains simultaneously, Axios had reported. The round was co-led with Arrington XRP Capital and Framework Capital and also featured unnamed individuals.
Housing services group Asahi Kasei Homes invested an undisclosed amount in Preferred Robotics, a Japan-based robotics technology subsidiary of deep learning system provider Preferred Networks, today. Preferred Networks’ total funding stood at over $119m as of a $9.3m investment by Industrial, mining and petroleum group JXTG in 2019.
Handprint, the Singapore-based operator of an online platform which connects businesses to socially impactful projects, secured $2.2m yesterday in a seed round led by digital payment software provider Thunes, The Business Times reported.
Cashless payment technology provider NetStars supplied an undisclosed amount of funding today for Regional Marketing, a Japan-based regional advertising and media subsidiary of drugstore retailer Satudora Holdings.
M&A
Internet company Digital Garage exited 1plusX, a Switzerland-based developer of advertising data management software, in an acquisition by advertising technology producer TripleLift yesterday sized at $150m according to AdExchanger. The company had raised a total of over $17m, AdExchanger stated, $7.8m of which came in a January 2021 series B round led by Swisscanto Invest and backed by digital Garage vehicles BI.Garage and DG Daiwa Ventures.
Consulting firm Sia Partners has paid an undisclosed sum to acquire Stratumn, a US-based developer of business finance management software, enabling stock exchange operator Nasdaq and insurance providers BNP Paribas Cardif and CNP Assurances to exit. The company closed its series A round at $9.1m in late 2017 when BNP Paribas Cardif’s C. Entrepreneurs vehicle and Cathay Innovation added cash to a first tranche led by CNP Assurances’ Open CNP unit and backed by Nasdaq, Digital Currency Group and Otium Ventures.
NielsenIQ, the consumer-focused subsidiary of media data provider Nielsen, purchased ciValue, a US-based retail loyalty software developer backed by its parent company, for an undisclosed sum yesterday. Another Nielsen subsidiary, Nielsen Innovate, joined telecoms firm Deutsche Telekom and Mac Fund to supply $2.4m in seed funding for ciValue in 2016. It co-led the company’s $6m series A round in 2018 with Sonae IM, a subsidiary of telecoms firm Sonae, participating alongside property developer Emery Investments.
Asset management and investment banking firm Shuaa Capital acquired a majority stake in United Arab Emirates-based financial product comparison service Souqalmal yesterday, allowing the latter’s UK-based peer, GoCompare, and money exchange service UAE Exchange to exit. The corporates had joined Riyad Taqnia Fund in Souqalmal’s $14.5m series B round in 2017, boosting its overall funding to approximately $16m.
Funds
GFR Fund, the US-based venture capital affiliate of digital media company Gree, has raised approximately $24.3m for its Fund III, according to a regulatory filing. The fund had closed its last vehicle, GFR Fund II, at $20m in 2019.
Insurance provider Taiwan Life has supplied $15m for four funds managed by US-headquartered VC firm Lightspeed Venture Partners, DealStreetAsia reported today, citing stock exchange filings. The cash was distributed to Lightspeed Opportunity Fund II, Lightspeed Venture Partners Select V, Lightspeed Venture Partners XIV-A (Inception) and Lightspeed Venture Partners XIV-B (Ignite).
Additional reporting by Liwen-Edison Fu.
