Funding
Indonesia-based e-commerce software developer Desty has raised $5m in series A funding from investors including Fosun RZ Capital, a corporate venturing subsidiary of diversified conglomerate Fosun, e27 reported today. Venture capital firm East Ventures led the round, investing through its growth fund, while Jungle Ventures and January Capital also participated. Destyhad previously closed a $3.2m pre-series A round in July this year led by 5Y Capital and backed by Fosun RZ Capital, East Ventures, January Capital and InCapital.
Smart Shopping, the Japan-based creator of an internet of things-focused inventory management software platform, received an undisclosed amount of funding today from online medical information provider M3 and pharmaceutical wholesaler Suzuken to increase its overall funding to ¥1.6bn ($14m). The company’s total funding stood at approximately $8.2m as of February this year when it secured $2.8m from consumer finance provider Aiful’s AG Capital unit, IT services firm NEC’s Capital Solutions subsidiary, Venture Labo Investment and undisclosed existing investors.
Insurance firm Nippon Life provided ¥480m ($4.2m) in series A funding today for Now Room, the Japan-based operator of an apartment rental service which allows users to rent by the week or month. The investment was made through Nissay Capital, the corporate VC unit that had joined undisclosed angel investors and financial institutions in Now Room’s $2m seed round in May 2020.
Japan-based ice cream and butter sweet confectionary brand HiOli added an undisclosed amount to a series A round that stood at $2.7m as of September this year, with the extension coming from theme park operator Oriental Land Company’s Oriental Land Innovations unit and financial services firms Hachijuni Bank and Mizuho Bank, which invested through Hachijuni Capital and Mizuho Capital respectively. The first close featured online supermarket Oisix Ra Daichi’s Future Food Fund, aviation equipment and services provider Jalux and financial services firm Sumitomo Mitsui Banking Corporation’s SMBC Venture Capital vehicle.
Health insurance provider NIB has paid A$4m ($2.9m) for a 50% stake in Midnight Health, the Australia-based operator of medical consultation app Stagger and its female-focused counterpart, Youly. The company has also agreed a strategic partnership that will give it access to NIB’s 1.4 million members.
Oil and gas engineering firm JGC Holdings Corporation invested an undisclosed sum in Japan-based regenerative medicine developer Two Cells today through its JGC Mirai Innovation Fund and JGC Japan Corporation engineering subsidiary. Two Cells is working on digital therapeutics to treat stroke patients’ gait disorders through music therapy.
Orixha, the France-based developer of a fluid ventilation device to induce therapeutic hypothermia for post-cardiac arrest syndrome, raised €2m ($2.2m) yesterday in a funding round backed by medical plastics producer InfiPlast, manufacturing group OEM Development and research services provider Activation. They were joined by investment firm Satt Erganeo, which helped launch the company, and angel syndicate Angels Santé.
Holoeyes, a Japan-based developer of virtual reality-equipped medical technology, has secured an undisclosed amount of funding from pharmaceutical group Medipal Holdings’ corporate venturing arm, Medipal Innovation Fund. The company had previously received $2.2m in 2019 from SBI Investment, Mitsubishi UFJ Capital and Mizuho Capital, on behalf of financial services firms SBI, Mitsubishi UFJ Financial Group and Mizuho Bank respectively.
Pharmaceutical wholesaler Suzuken invested an undisclosed amount in Doctors, a Japan-based developer of medical digitalisation technology, today. Doctors had already raised funding from Suzuken in November 2020, two months before medical instrument manufacturer Muranaka provided it with a similarly undisclosed sum.
Additional reporting by Liwen-Edison Fu and Thierry Heles.
