AAA Daily Deal Round Up: October 26, 2021

Daily Deal Round Up: October 26, 2021

Funding

MioTech, a China-based sustainability management software provider backed by financial services firm HSBC, media company TOM Group and ratings agency Moody’s, raised an undisclosed amount of series B-plus funding from HSBC Asset Management’s Financial Technology Venture Capital Fund and investment bank JP Morgan’s Asset Management subsidiary yesterday, adding to an undisclosed sum from Guotai Junan International and GIC two months ago. It had secured a total of $23m from investors including Horizons Ventures and ZhenFund as of January 2020.

Telecommunications firm Telus co-led a A$25m ($18.8m) series B round for Australia-based quantum cybersecurity technology developer QuintessenceLabs today through corporate venture capital unit Telus Ventures. The round was co-led by the Australian government’s Main Sequence fund and included real estate developer Capital Property Group and InterValley Ventures, which is backed by financial services firm Mizuho Financial Group. QuintessenceLabs had previously raised an undisclosed amount from In-Q-Tel in February 2020.

Indonesia-headquartered digital signature software developer Privy has secured $17.5m in a series B round featuring conglomerates Buana Sejahtera Group and Gunung Sewu, financial services firm Bank Mandiri and telecoms firms Telkom Indonesia and Telkomsel, the last three through Mandiri Capital, MDI Ventures and Telkomsel Mitra Inovasi (TMI), DealStreetAsia reported today. VC firm GGV Capital led the round, which included Endeavor Catalyst and which came two years after an undisclosed amount of series A2 funding from TMI. Privy had raised $3m from Gunung Sewu, MDI Ventures, Mandiri Capital and Mahanusa Capital in 2018.

Healthcare provider Heritage Medical Group and medical care and research provider Mayo Clinic took part in a $15m series A round for US-based cancer treatment software developer SimBioSys today. Genoa Ventures and Northpond Ventures co-led the round, which included AV8 Ventures, a VC firm backed by insurance group Allianz, in addition to unnamed existing backers. SimBioSys said it has now raised $21m altogether, $900,000 coming from undisclosed investors in 2018 according to a regulatory filing.

Uruguay-based online second-hand fashion marketplace Vopero received $7.5m in funding from investors including fashion distributor Grupo Axo and fashion resale platform operator ThredUp yesterday. The round also featured Jaguar Ventures, Luxor Capital and Maria Raga, the chief executive of fast fashion marketplace DePop, and the funding will support Vopero’s expansion into Axo’s home country of Mexico.

Aerospace manufacturer Airbus provided an undisclosed amount of funding for Japan-headquartered space exploration company iSpace yesterday through strategic investment subsidiary Airbus Ventures. The company had raised $46m from Incubate Fund, SBI Investment, Innovation Engine, Aizawa Investments, Katsunori Sago and funds managed by HiJoJo Partners and Aizawa Asset Management in an August 2021 series C round that took its total funding to approximately $176m. Its earlier investors include corporates Takasago Thermal Engineering, Tokyo Broadcasting System, Dentsu, Konica Minolta, KDDI Japan Airlines, Shimizu, Toppan, Suzuki and Mitsui Sumitomo.

GooseFX, the Singapore-based creator of a decentralised finance product for financial settlement blockchain platform Solana, has received $4.5m in seed capital from investors including blockchain app developer Animoca Brands, crypto trading firm GSR Trading, digital asset data provider CoinShares, cybersecurity software producer Halborn and crypto exchanges Gate.io, MEXC and Kucoin, the last through Kucoin Labs. The round was led by SkyVision Capital and also featured Solana Capital, Bixin Ventures, Darkpool Ventures, Double Peak, DWeb3 Capital, Signal Ventures, Solar Eco Fund and Genblock Capital.

Lock screen content provider Glance has invested an undisclosed amount in India-based talent management agency Collective Artists Network, the Economic Times reported yesterday. The deal came three months after Glance, which is owned by mobile advertising technology provider InMobi, formed a joint venture with Collective Artists Network to help the latter’s celebrity clients create their own consumer brands.

US-based infrastructure inspection software provider SewerAI has raised $1.5m from investors including engineering software producer Bentley Systems’ Bentley iTwin Ventures Fund. Burnt Island Ventures, Builders VC and Epic Ventures also contributed to the round, the last two having co-led the company’s $2m seed round in August 2020.

Stackwell, the US-based creator of an automated investment tool tailored for black users, disclosed today it has secured an undisclosed amount from mutual insurer Cuna Mutual. The corporate’s CMFG Ventures subsidiary made the investment through its Discovery Fund, and Stackwell raised the cash as it takes names for its early-access waitlist.

Automotive manufacturer Runner Group has led a $1m round for Bangladesh-based industrial internet-of-things technology provider Bondstein Technologies through its Runner Trading subsidiary, The Daily Star has reported. The capital will support research and development, the expansion of its manufacturing capabilities and potential acquisitions.

English language education provider Rarejob has invested an undisclosed amount in Dream Viet Education, the Vietnam-based owner of online English tutoring service Kynaforkids, e27 has reported. The deal marks Rarejob’s first investment in Vietnam and it intends to allow the tutors on its RareJob Eikaiwa platform to offer lessons to Kynaforkids users.

 

M&A

Rakuten Mobile, the wireless network operator owned by e-commerce firm Rakuten, agreed yesterday to buy South Korea-headquartered peer-to-peer file transfer service EstMob for an undisclosed amount, allowing sister unit Rakuten Ventures to exit. EstMob had raised $6m from Rakuten Ventures in 2016, two years after the latter had led its $1m seed round.

Networking technology provider Cisco revealed yesterday it intends to acquire Replex, a Germany-based data and governance management software developer backed by energy utility EnBW, for an undisclosed amount. EnBW subsidiary EnBW New Ventures had joined High-Tech Gründerfonds, eValue and Entrepreneurs Investment Fund in Replex’s $1.6m seed round in 2017.

By Robert Lavine

Robert Lavine is special features editor for Global Venturing.