Funding
US-based additive manufacturing technology producer Nexa3D has revealed $55m in funding, raised across several rounds. The money was raised from Saudi Aramco Energy Ventures, a vehicle for oil and gas company Saudi Aramco, equity crowdfunding platform OurCrowd, an unnamed alternative asset manager and a range of undisclosed new investors. The company did not offer a breakdown of the rounds, or confirm how many transactions it involved. Regulatory filings show the company had raised $7.4m towards a $25m target earlier this month, while a separate document indicates Nexa3D attracted $12.2m in funding in December 2019. It had already obtained more than $822,000 in funding in August 2018, after 3D printer manufacturer and distributor XYZprinting had helped it bring its total funding to $10m in 2017.
BukuKas, an Indonesia-based provider of business finance management software backed by payment services firm Credit Saison, has raised $50m in a series B round backed by private investors Gokul Rajaram and Taavet Hinrikus, according to TechCrunch. The round will allow BukuKas to recruit more staff and launch additional products. It comes four months after a $10m series A round backed by Credit Saison through Saison Capital, January Capital, Founderbank Capital, Cambium Grove, Endeavor Catalyst and angel investor Amrish Rau. Saison Capital had already backed a $9m pre-series A round in August last year.
Rally, a US-based platform to invest in collectible assets, has received $30m in a series B round led by Accel, with participation from Upfront Ventures, Social Leverage and unnamed, existing backers. The company has now raised more than $50m altogether, it said, having previously obtained $17m from car maker Porsche’s corporate venturing unit, Porsche Ventures, sports team owner Raptor Group, venture capital firm Global Brain and angel investor Alexis Ohanian in October 2020.
US-based data visualisation platform Code Ocean has confirmed $21m in total funding, including a $15m series A round led by Battery Ventures, with participation from research databases provider Ebsco Information Services, Digitalis Ventures, Vaal Partners and unnamed backers. Code Ocean allows researchers to share data with peers, without requiring those colleagues to run the same software or operating system. Although there are a series of regulatory filings, these do not add up to $6m and instead show the company raised $3.2m in June 2020, $8.8m in June 2019 (including the conversion of outstanding notes), $2.5m in 2017 and $2.5m (including debt) in 2016.
Eleanor Health, a US-based outpatient addiction and mental health provider, has completed a $20m series B round backed by Echo Health Ventures, an investment joint venture for healthcare provider Cambia Health Solutions and health insurer Blue Cross Blue Shield of North Carolina subsidiary Mosaic Health Solutions. The round also included Mosaic Health Solutions itself, as well as Town Hall Ventures and Warburg Pincus. Eleanor had secured $12m in a July 2019 round from a consortium led by Mosaic Health Solutions, with participation from Town Hall Ventures and Oxeon Ventures, the latter two having co-founded the company.
China-based customer relationship management software producer FXiaoke has secured “tens of millions” in a series F round supplied by CDH Wealth Management, the alternative asset management arm of CDH Investments, according to DealStreetAsia. The report also said FXiaoke had secured a “similar amount” from software developer Kingdee, IDG Capital, Northern Light Venture Capital and unnamed others in November 2020. Retail chain Beijing Hualian Group backed a $70m series E-plus round in 2016 together with Li Yue Venture Capital.
Indonesia-based enterprise software provider Mekari has raised $18m in its series D round led by accounting platform developer Money Forward, according to Hybrid. Integrated digitial infrastructure provider Supra Primatama Nusantara (also known as Biznet Networks), Mitratama Grahaguna, EV Growth, Karang Mas Investama, Mitra Dutamas, Perkom Indah Murni and Alto Partners, as well as unnamed others. Mekari most recently attracted $12.4m in February 2021, although it is not clear if that was a first close of the series D.
Egypt-based online furniture retail marketplace Homzmart has collected $15m in its series A round co-led by MSA Capital and Nuwa Capital, with contributions from EQ2 Ventures, Impact46, Outliers Capital and Rise Capital, according to TechCrunch. Homzmart picked up $1.3m in seed funding from investors including Equitrust, a corporate venturing vehicle for advertising services firm Choueiri Group. MSA Capital, Oman Technology Fund, 500 Startups and undisclosed strategic investors in February 2020. The company has now secured $17.2m altogether it said, but further details have not emerged.
Healios, a UK-based online mental health platform, has raised £7m ($10m) in a series A round led by InHealth Ventures, the corporate venturing arm of diagnostic and healthcare company InHealth, with participation from AlbionVC. Healios previously secured $2.7m in a funding round co-led by AlbionVC and Spice Capital in June 2018.
Egypt-based last-mile delivery service Bosta has closed a $6.7m series A round led by Silicon Badia led the round, with participation from 4DX Ventures, Plug and Play Ventures, Wealth Well VC, Khwarizmi VC and unnamed backers. Logistics service provider DPD Group and digital payment technology provider Fawry previously injected $1.4m in February 2020, although TechCrunch put the figure at $2.5m round in its most recent coverage.
Singapore-based shared living space operator Hmlet has picked up $6m in funding from Burda Principal Investments, the corporate venturing arm of media group Hubert Burda, and Sequoia Capital as it tries to navigate challenges caused by the pandemic, according to the Business Times. The money was raised at a lower valuation that the more than $154m the company fetched for its series B round in 2019, but a figure was not disclosed. Burda Principal Investments led that $40m series B round, while real estate developer Mitsubishi Estate and Reinventure, the venture capital fund backed by financial services firm Westpac, also took part in the round, together with Sequoia and several angel investors. Hmlet received $1.5m in a 2017 seed round led by Aurum Investments, the corporate venturing unit for construction and civil engineering firm Woh Hup.
Singapore-based cloud kitchen and online catering company Grain is raising S$3.5m ($2.6m) in a round led by hospitality group Lo and Behold, according to DealStreetAsia. The round is significantly cutting Grain’s valuation, the report said, with shares selling for S$1.62 – down from S$9.38. Existing backers Openspace Ventures and Singha Ventures, the investment arm of beer brand Singha, are converting their preference shares to ordinary stock as part of the round. Grain previously secured $10m in a series B round in May 2019 led by Singha Ventures, with participation from food services provider FoodXervices, Majuven, Openspace, Cento Ventures (previously known as DMP), Genesis Alternative Ventures, Sassoon Investment Corporation, K2 Global and Raging Bull.
Fave, a US-based platform for musicians and fans to interact with each other and buy and sell fan-made merchandise, has raised $2.2m in a seed round backed by record labels Sony Music, Warner Music, Concord Music and Hybe, artist management company Right Hand Management, venture studio Betaworks, accelerator Techstars Music, Female Founders Fund and Quality Control, according to TechCrunch. Fave launched a public beta of its platform in conjunction with the round.
Malaysia-based fresh produce shipping service Secai Marche has raised ¥150m ($1.4m) from Rakuten Ventures, a corporate venturing arm of e-commerce group Rakuten, and venture capital firm Beyond Next Ventures (BNV). The company had secured $1m from BNV, Monex Ventures, a VC vehicle for currency exchange operator Monex, and unnamed angel investors in December 2019.
US-based retail technology provider Adroit Worldwide Media has raised an undisclosed amount from private equity firm ADM Capital’s Cibus Enterprise Fund. A securities document dated April 2021 shows the company attracted $4m, but it is unclear if that is the figure provided by ADM. Barcode scanner manufacturer Datalogic previously injected an undisclosed sum in May 2020 that a regulatory filing suggests was worth $5m. Adroit closed an $11.5m series A round led by Impact Venture Capital in February 2020, when Mark IV Capital and Contrarian Group also invested. The company had secured $1.2m in funding in February 2018 and $2m in October 2017, according to regulatory filings.
Esports Players League (ESPL), a Singapore-based esports tournament organiser, has raised a seven-figure sum in a pre-series A round backed by conglomerate Genting’s corporate venturing arm Genting Ventures, record label Warner Music Asia, Puncak Geliga Capital and Craes. The round was led by RightBridge Ventures. ESPL previously secured $1m in a round led by 500 Startups in March 2020, with contributions from unnamed others.
China-based vocational education comapny eKeguan has closed a series B round of undisclosed size led by New Oriental Education and Culture Industrial Fund, an investment vehicle for educational technology developer New Oriental Education & Technology Group. The round also included Zeyu Capital, which was identified as a returning backer. Cloud Angel Fund and BE Capital were also named as earlier investors, but details about eKeguan’s historic funding could not be confirmed.
M&A
Label Insight, a US-based consumer goods product data software developer backed by consulting firm KPMG, has agreed to an acquisition by data analytics company NielsenIQ. Label Insight had secured a total of $34m in funding by its $21m series C round in 2017. KPMG’s corporate venture capital arm, KPMG Capital, had led Label Insight’s $10m series B round in 2016 with contributions from consumer science company Dunnhumby’s seed-stage investment arm, Dunnhumby Ventures, as well as Mercury Fund, Cultivation Capital, Serra Ventures and West Capital Advisors.
Mya Systems, the US-based creator of an intelligent recruitment software platform, has been purchased by job marketplace StepStone for an undisclosed amount, according to Tech.eu. Mya’s technology will be integrated into StepStone’s autonomous matching platform. Mya Systems had most recently secured some $18.8m in a series C round backed by networking technology provider Cisco and enterprise software producer Workday in March 2020.
– Additional reporting by Liwen-Edison Fu
