Funding
Lingerie producer Victoria’s Secret provided $18m in equity financing for US-headquartered bikini brand Frankies Bikinis on Friday. The funding was supplied in connection with a strategic partnership agreement.
Japan-based perovskite solar cell developer EneCoat raised ¥1.59bn ($12.9m) today in a series B round backed by KDDI Green Partners Fund, Nikon-SBI Innovation Fund, JMTC Capital, Chushin Venture Capital, Kyogin Lease & Capital, Kyoto Shinkin Social Capital, Mitsubishi UFJ Capital, SMBC Venture Capital and Senshu Ikeda Capital, on behalf of telecommunications group KDDI, optical technology provider Nikon, fabless functional material manufacturer Japan Material Technologies Corporation and financial services firms Kyoto Chuo Shinkin Bank, Bank of Kyoto, Kyoto Shinkin Bank, Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation and Senshu Ikeda Bank, in addition to clutch manufacturer FCC, electronic connector maker Hosiden and ceramic insulator producer NGK Insulators. The round was led by Sparx Asset Management’s Mirai Creation Fund and also featured Kyoto University Innovation Capital, Monozukuri Ventures, Future Venture Capital and two unnamed companies.
Japan-based quantum algorithm software developer QunaSys received ¥1.24bn ($10m) today in a series B round featuring Fujitsu Ventures, a subsidiary of IT and communications group Fujitsu, as well as computer manufacturer HPC Systems, chemicals producer Zeon Corporation and Shinsei Corporate Investment, part of financial services firm Shinsei Bank. The round was led by JIC Venture Growth Investments and included Anri, Global Brain and Japan Science and Technology Agency.
Samsara Eco, the Australia-based developer of a carbon-neutral recycling process, has secured A$6m ($4.4m) in funding from investors including retailer Woolworths Group’s corporate venturing arm, W23, Australian Financial Review has reported. It was joined in the round by venture capital firm Main Sequence Ventures and government-owned green bank Clean Energy Finance Corporation.
Coop Marketing, which operates gifting service Kakao Gift on behalf of internet group Kakao, supplied an undisclosed amount of series A funding for Indonesia-based digital voucher and rewards aggregator Aldmic Coopn Digital in late 2021, Tech in Asia reported today. The cash was received as the company rebranded from Aldmic Technology.
Cascador Health, a Belgium-based developer of healthcare data analytics software, has raised €3.4m ($3.8m) from investors including healthcare provider Hirslanden, L’Echo has reported. Multi-university venture capital fund Qbic and Theodorus, the VC vehicle aligned with Université libre de Bruxelles, also took part, as did VC firm Volta Ventures.
Digital payment processor PayPal has invested an undisclosed amount in Cymbio, the Israel-based creator of a software platform which helps online retailers manage marketplaces and drop ship sales. The capital was provided through the corporate’s PayPal Ventures unit and came four months after Corner Ventures led a $20m series B round for Cymbio that included Vertex Ventures and private investors including Udi Angel and Yuval Tal at a reported nine-figure valuation.
Cryptofinance provider XTBO’s corporate venturing unit, XBTO Ventures, has led a $2m series A round for Nigeria-headquartered logistics service provider Kwik, TechCrunch has reported. The round included another XTBO vehicle, Humla Ventures, as well as investment holding company Nabuboto and angel investors Yves Guillemot and Leonard Stiegeler.
Electronics retailer Fast Shop has led a R$10m ($2m) funding round for Brazil-based mattress producer Zissou, Exame has reported. The company had not publicly revealed any earlier funding but Fast Shop invested as an existing backer, according to Exame.
Insurance technology provider Bolttech supplied an undisclosed amount of funding for Sherpa, the UK-based creator of an online insurance advisory platform, on Friday. The company had previously raised $2.3m from InsurTech.VC and unnamed angel investors in 2017.
Arpac, the Brazil-headquartered operator of a drone-based agricultural inspection service, has raised R$9.4m ($1.8m) in a funding round led by motorised vehicle manufacturer Yamaha Motor, Startupi has reported. The cash has been earmarked for technology development and an expansion into new segments of the agricultural space.
US-based market intelligence provider Vertis received an undisclosed amount of funding from analytics automation technology producer Alteryx on Friday. Alteryx invested the cash through corporate venturing unit Alteryx Ventures.
Cemex Ventures, the investment arm of building materials supplier Cemex, has provided an undisclosed amount of funding for PartRunner, the US-headquartered owner of a last-minute delivery service focused on the construction industry. The corporate plans to leverage PartRunner’s services in the US and Mexico.
Brazil-based electric vehicle charging service Voltbras has received R$3m ($580,000) in funding from investors including energy utilities EDP and Iberdrola, through EDP Ventures Brasil and Perseo respectively, Exame has reported. The corporates participated in the round together with Domo Invest.
India Sotheby’s International Realty (ISIR), a real estate subsidiary of auction house Sotheby’s, has invested an undisclosed amount in India-based real estate data provider CRE Matrix, Mint reported today. ISIR plans to use the company’s technology to enhance its transactions and advisory services.
Funds
Brazil-based department store chain Lojas Renner has launched a R$155m ($31m) corporate venture capital fund called RX Ventures. The unit fund is targeting fashion and retail technology in addition to e-commerce, marketing and content products, financial and logistics technology.
Japan-headquartered online asset management service Susten Capital Management has received ¥1.5bn ($12.1m) in capital from backers including accounting software provider Money Forward. It also named Tokyo University of Science’s Innovation Capital unit and VC firm Now as investors.
Mandiri Capital, the VC arm of Indonesia-based financial services firm Bank Mandiri, has formed an environmental, social and governance-focused fund called Indonesia Impact Fund (IIF), DealStreetAsia has reported. IIF is being headed by Joshua Agusta, director of venture funds for Mandiri Capital since 2019, and its first investment involved it providing an undisclosed amount for Indonesia-headquartered online language learning service Cakap.
Additional reporting by Liwen-Edison Fu and Thierry Heles.
