Funding
Battery
Power grid equipment provider G&W Electric provided $3.6m in funding for Intelligent Generation, a US-based energy storage optimisation tool developer, yesterday.
Crypto
Samsung Next, an investment vehicle for electronics manufacturer Samsung, took part in a $70m round yesterday for Flowcarbon, a US-based developer of carbon-backed token technology. Andreessen Horowitz’s A16Z Crypto fund led the round, also investing alongside General Catalyst, Invesco Private Capital, 166 2nd, RSE Ventures, Allegory Labs, Fifth Wall, Box Group, Celo Foundation and private investors Kevin Turen and Sam and Ashley Levinson.
Broadcaster M6 and crypto trading group GSR contributed to a $2.7m seed round for UBet, the Canada-based developer of a decentralised sports betting platform, last week. Shima Capital led the round, which included Republic Crypto, LD Capital, Old Fashioned Research, Decimus and angel investors Daniel Hannigan-Daley and David Hong.
E-commerce
Info Edge Ventures, the corporate venturing arm of classified listings operator Info Edge, joined Alpha Wave Global and Kae Capital to co-lead a $25m series B round for India-based localised online shopping platform 1K Kirana, TechCrunch reported yesterday. Multiple angel investors including Amrit Acharya also took part in the deal, which represents the first close of a larger round. The company’s total funding stands at about $34m.
Fintech
Stock Exchange of Thailand and financial services firms Bank of Ayudhya (Krungsri) and United Overseas Bank have taken part in Singapore-based private market platform operator ADDX’s $58m pre-series B round, the first two through SET Venture Holding and Krungsri Finnovate unit, The Business Times reported today. Hamilton Lane also took part in the round.
Construction and engineering group Chemie-Tech DMCC provided $18.4m in series A1 funding yesterday for Hedonova, the US-based operator of a digital investment platform for alternative assets, valuing the company at $330m.
Healthtech
Healthcare provider Atrium Health’s Strategic Fund participated in a $200m series C round today for Semperis, a US-based developer of enterprise identity confirmation technology. KKR led the round, which included Ten Eleven Ventures, Paladin Capital Group, Tech Pioneers Fund and returning backers including Insight Partners.
Japan-based regenerative medicine developer K Pharma has raised ¥1.55bn ($12.2m) from investors including Itochu Technology Ventures and Keio Innovation Initiative, on behalf of trading group Itochu and Keio University respectively. Kagoshima Development, DCI Partners and ICMG Partners also participated in the round.
SwipeRx, the Singapore-based pharmacy platform operator formerly known as mClinica Pharmacy Solutions, raised $27m in series B equity and debt financing yesterday from investors including quantitative trading firm Susquehanna International Group, MDI Ventures and Johnson & Johnson Impact Ventures, the last two respective corporate venturing vehicles for telecommunications firm Telkom Indonesia and pharmaceutical firm Johnson & Johnson. They were joined by unnamed returning investors.
Biopharmaceutical firm Gilead Sciences has taken part in a $4m seed round for US-based HIV elimination therapeutics developer Exavir Therapeutics. AlleyCorp led the round, which was announced yesterday.
Medical care and research provider Mayo Clinic has paid an undisclosed amount for a minority stake in India-based cancer diagnostics platform developer Karkinos Healthcare, the Economic Times reported on Sunday. Mayo Clinic will nominate a team member to serve on the company’s board of directors as part of the deal. Its earlier backers include Rakuten Medical, a biotech arm of e-commerce group Rakuten.
Human resources
Go-Ventures, a corporate venturing subsidiary of on-demand multiservice and digital payment group GoTo, has taken part in a round of undisclosed size for KitaLulus, the Indonesia-based operator of an online job portal, Tech in Asia reported today. Tiger Global led the round, which included Goodwater Capital and Rocketship.VC.
Industrial
Insurer Aioi Nissay Dowa, mobile device distributor T-Gaia, automotive parts producer Pacific Industrial and specialist paint manufacturer Musashi Paint joined Chibagin Capital, a vehicle for financial services firm Chiba Bank, to back a ¥850m ($6.7m) round for Japan-based nanomaterial coating developer Hardolass today. Consulting firms Shikigaku and Minami Aoyama Advisory Group also took part, through their Shikigaku Fund 2 and Leaders Fund 1 vehicles respectively, and the round was filled out by Real Tech Fund.
Mobility
BP Ventures, the corporate venturing subsidiary of oil and gas supplier BP, has joined Green Frontier Capital to co-lead a $25m series A1 round for India-based ride sharing service BluSmart, BusinessToday reported yesterday. The round’s $15m equity portion included unnamed returning backers while the $10m in debt financing was supplied by packaging producer UCIC, Stride Ventures, Alteria Capital and BlackSoil Capital. The deal followed a $25m series A round in September 2021 that also featured BP Ventures, and BluSmart’s series A funding now stands at $50.7m.
Robotics
E-commerce firm Meituan led a $15m series B round for China-based aerial work robot developer RobotPlusPlus yesterday, investing alongside conglomerate Fosun in a deal that took the company’s total funding to $35m.
SaaS
Info Edge Ventures, the investment vehicle for classified listings operator Info Edge, has participated in a $4.2m round for Singapore-based chemical business software developer Polymerize, Tech in Asia reported today. Elevation Capital led the round.
Supply chain
Fashion retailer H&M has contributed to a SEK400m ($40.8m) round for Sweden-based smart locker technology provider Budbee, Sifted reported yesterday. Kinnevik, CNI Nordics and the company’s employees also took part in the round, which valued it at approximately $744m.
Freight forwarder Flexport was part of a $25m series A round announced yesterday by Mexico-based enterprise fast shipping service ClicOh. Tiger Global led the round, which included Jam Fund, FundersClub and Vast VC, taking the company’s total funding to $33m.
Fund
Brazil-based educational services provider Ânima has formed a R$150m ($31.3m) corporate venturing vehicle called Ânima Ventures to back education technology developers, Seu Dinheiro reported yesterday.
M&A
Data recovery technology provider Jungle Disk has acquired ElephantDrive, a US-based cloud storage tool provider backed by chipmaker Intel. The corporate invested in the company through its Intel Capital unit in 2006 and 2007, according to SocalTech.
Consumer goods producer Marico has paid an undisclosed sum to acquire a 54% stake in True Elements, the India-based nutritional snacks retailer whose parent firm HW Wellness Solutions had received funding from conglomerate RP-Sanjiv Goenka Group, Business Standard reported today.
People
Ore Adeyemi, Tom Bussey and Thomas Caine are all departing from financial services firm HSBC’s corporate venturing unit, HSBC Strategic Innovation Investments (also known as HSBC Ventures), to form a new investment firm, Bloomberg reported yesterday, citing people privy to the development.
