Funding
China-based autonomous driving technology developer Jimu Intelligent secured RMB200m ($31.3m) yesterday in a series C1 round featuring UMC Capital, the investment arm of chipmaker UMC, and Avic Pingshan, a subsidiary of aerospace and defence conglomerate China Aviation Industry Corporation. The round was co-led by Forebright Capital and SDIC Unity Capital and included MY Tsinghua Capital, Founder Securities’ Founder H Fund and unnamed others. Jimu has now raised over $51m to date, $14.8m coming in an early 2019 series B round led by TransLink Capital and backed by carmaker Hyundai, Optical Valley Talents, Chentao Capital, HGC Investment and Yucheng Investment Fund.
US-headquartered optical gyroscope technology developer Anello Photonics closed a $28m series A round on Wednesday that included Lockheed Martin Ventures, the strategic investment arm of aerospace manufacturer Lockheed Martin. Venture capital firm New Legacy Ventures led the round, which also featured Catapult Ventures, JS Capital, Hardware Club and undisclosed private investors.
China-headquartered digital payment infrastructure developer XanPool received $27m in series A financing yesterday from investors including financial trading firm CMT Digital, a subsidiary of Capital Markets Trading. The round was led by VC firm Valar Ventures and also featured angel investor Taavet Hinrikus. It came after blockchain services and technology provider OK Group led XanPool’s $4.3m pre-series A round in September 2020, investing alongside, Gumi Cryptos, a vehicle for mobile game publisher Gumi, as well as automotive component producer Wanxiang’s Hashkey affiliate.
CMT Digital also took part in a $20m series A round disclosed by Mojito, a US-based developer of non-fungible token technology for retailers, when it emerged from stealth yesterday, as did auction house Sotheby’s. The round was led by Future Perfect Ventures and included Connect Ventures, a joint venture between entertainment and sports agency CAA and VC firm New Enterprise Associates, in addition to Moore Strategic Ventures, Sfermion, and Ancient. The company had been spun off by digital marketing firm and venture studio Serotonin.
Toy producer Lego led a $12m series A round for US-headquartered social gaming platform developer Piepacker yesterday through corporate venturing unit Lego Ventures. The round also featured VC fund Makers Fund and V13 Invest, a joint venture by lottery operator Française des Jeux and investment firm Serena. The company had graduated from accelerator Y Combinator in August 2020 and said it has now raised $15m altogether.
US-based mobile game studio Kazoo Games completed a $12m series A round yesterday led by Garena, the game publisher which forms part of e-commerce, gaming and financial services group Sea. The startup did not reveal the other participants in the round but said the proceeds would be used to double the size of its 15-strong developer team.
Rakuten Medical, a biotech subsidiary of e-commerce group Rakuten, invested an undisclosed amount in India-based cancer diagnostics technology developer Karkinos Healthcare yesterday. The funding was supplied through a strategic collaboration which will involve the companies collaborating on the provision of novel cancer care in India.
Risilience, a UK-based developer of software designed to help businesses mitigate the risks of climate change, raised £6m ($8.4m) from investors including insurance firm Tokio Marine yesterday. The round was led by VC firm IQ Capital and also featured Castor Ventures, and it came after the company was spun out of University of Cambridge.
Localisation and media services provider Iyuno-SDI Group supplied an undisclosed amount of funding today for Ortana Media Group, a UK-based developer of software which helps manage media workflows. David Lee, Iyuno-SDI’s CEO, said it intends to use Ortana’s technology to build out a scalable end-to-end localisation supply chain for its customers.
Spain-headquartered digital life insurance provider Vitaance completed a €3m ($3.5m) financing round yesterday that included internet and telecommunications group SoftBank. The round was led by VC fund Kindred Ventures and also featured Astorya, Shilling VC and K Fund. Vitaance identified Antai Venture Builder as an existing investor without giving more details.
Binance Smart Chain, a subsidiary of cryptocurrency exchange operator Binance, invested an undisclosed sum in Singapore-based decentralised derivatives exchange MCDEX yesterday through its growth fund. The startup had secured $7m in a May 2021 round co-led by quantitative trading firm Alameda Research and Delphi Ventures – part of consulting and investment firm Delphi Digital – that included crypto exchange OKEx’s Blockdream Ventures unit, online encryption technology provider Mask Network, Multicoin, Fenbushi Capital, Defiance, Incuba Alpha, D1 Ventures, Defi Alliance, NGC Ventures, IOSG Ventures, Zeuth, Horizon Capital, Bixin Ventures, Digital Renaissance Foundation, Shata Capital, Finlink, Plutus.vc, Magic Ventures, ZBS Capital and angel investor Meltem Demirors.
Financial services and insurance firm Northwestern Mutual took part in a $3m post-seed round yesterday for Medicardia Health, the US-based creator of an aggregation software platform for digital healthcare data, through its Cream City Venture Capital vehicle. The round also featured unnamed individuals and followed an undisclosed amount of seed capital from angel investor Jeff Rusinow, Medicardia said.
South Korea-based voice synthesis technology developer Humelo has raised $2.6m in pre-series A funding from Kakao Investment and KT Investment, on behalf of internet group Kakao and telecoms firm KT respectively. The company, which is already working with KT on a voice synthesis collaboration, will put the funding toward recruitment and the development of new services.
Automation Intellect, the US-based creator of a performance analytics software platform for use with manufacturing machinery, completed a funding round of undisclosed size yesterday featuring communications and infrastructure group IES Holding. The round was led by Cofounders Capital and a securities filing from earlier this week indicates the company had raised almost $1.8m of a targeted $1.9m. It had secured $2.1m in 2019 from investors including StartFast and described Cofounders Capital as an existing backer this week.
Real estate software provider MaxSoft Group has invested A$1.5m ($1.1m) in Australia-based property management software developer ResVu, Startup Daily reported on Wednesday. The capital will be channelled into software development and the recruitment of sales and marketing staff as ResVu looks to expand internationally.
US-based biomaterials developer Bucha Bio secured $550,000 on Wednesday from investors including prototyping service provider QKZ Design. The corporate was joined in the oversubscribed round by New Climate Ventures, Beni VC, Lifely VC, MicroVentures and angel investors Cary Pinkowski, Nicholas Valeriano, and Fiona and George Sobek. The startup is a graduate of VC firm SOSV’s IndieBio scheme.
M&A
Primary care provider Oak Street Health acquired US-based healthcare management software developer RubiconMD yesterday for an amount reported by MobiHealthNews to be an initial $130m in cash and up to $60m in potential performance-related payments. RubiconMD had raised $40m as of an $18m series C round in March 2020 featuring care provider Heritage Provider Network and Optum Ventures, a subsidiary of healthcare services provider Optum, as well as Deerfield Management, HLM Venture Partners and Waterline Ventures. The company’s investors also included healthcare software producer Athenahealth and medical care provider Centene.
E-commerce search software provider Fact-Finder is purchasing Loop54, the Sweden-based operator of a personalised e-commerce platform, for an undisclosed amount, enabling industrial group Axel Johnson to exit. Loop54 had raised $590,000 from Axel Johnson vehicle D-ax, VC firm Almi Invest and angel investor Erik Byrenius in a 2015 round which represented its first external funding.
Additional reporting by Thierry Heles.
