Funding
Rezilion, an Israel-based secure automation technology developer backed by consumer electronics manufacturer Samsung, raised $30m yesterday in a series A round led by Guggenheim Investments that included JVP, Kindred Capital and undisclosed angel investors. Samsung subsidiary Samsung Next had joined JVP, Kindred Capital, LocalGlobe and individuals including Ron Zuckerman and Guy Schory in an $8m seed round disclosed when Rezilion emerged from stealth in January 2020.
MarginEdge, the US-based creator of a software platform which helps restaurants track costs, has secured $18m in a series B round led by investment firm Schooner Capital and backed by restaurant owner IGC Hospitality, TechCrunch reported yesterday. The company said it had previously raised $15m, including $2.5m from Osage Venture Partners and assorted angel investors in March 2019, $5m in series A funding from hospitality provider In Good Company and Osage seven months later and $4m from food service provider Gordon Food Service’s Relish Works subsidiary and Osage in November 2020.
Cavallo Ventures, the corporate VC arm of agribusiness Wilbur Ellis, co-led a $15m series A round for US-based seed treatment technology developer Andes today with chemicals and pharmaceuticals producer Bayer’s impact investment subsidiary, Leaps by Bayer. They were joined by law firm Wilson Sonsini Goodrich & Rosati, Builders VC, Germin8, Accelr8, KdT Ventures and Endurance – the last two tagged as existing investors.
Susquehanna Growth Equity (SGE), a subsidiary of quantitative trading and technology firm Susquehanna International Group, yesterday invested an undisclosed amount in Pixieset Media, a Canada-headquartered provider of software for photographers and other creative professionals. SGE managing director Martin Angert has taken a seat on Pixieset’s board of directors in conjunction with the transaction.
Healthcare provider MemorialCare Health System’s MemorialCare Innovation Fund has led a $12m series B round for US-based virtual maternity care provider Babyscripts, TechCrunch reported yesterday. Electronics and medical technology producer Philips also took part in the round, as did CU Healthcare Innovation Fund, an affiliate of University of Colorado Anschutz Medical Campus. The company had raised a total of $13.6m as of a $500,000 investment by health system Inova in early 2019, and its earlier backers include pharmaceutical company Chemo Group and healthcare providers Aurora Health Care and University Hospitals, the latter through its UH Ventures unit.
Pakistan-based digital freight services marketplace BridgeLinx received $10m in seed funding today from investors including freight forwarder Flexport, TechCrunch reported. The round, reportedly the largest seed round yet closed by a startup headquartered in Pakistan, was co-led by Buckley Ventures and Indus Valley Capital and also featured Wavemaker Partners, Quiet Capital, TrueSight Ventures, Soma Capital, Untitled and unnamed angel investors.
Switzerland-based recycled plastics and polyester technology developer Gr3n raised €6.3m ($7.4m) in series B financing yesterday from diversified manufacturer Standex International and Chevron Technology Ventures, the strategic investment arm of oil and gas producer Chevron. The company said it has now secured a total of approximately $8.9m in funding over the past year.
Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, co-led a round of undisclosed size for Indonesia-based biopharmaceutical company Etana Biotechnologies today with biopharmaceutical firm Innovent Biologics and a consortium led by financial services firm United Overseas Bank’s UOB Venture Management subsidiary. The cash will fund clinical, registration and commercialisation activities.
Clockwork Logistics Systems, a US-based developer of logistics digitalisation technology, closed a $5.5m seed round yesterday that included PSA Unboxed and Estes Final Mile, which invested on behalf of port operator PSA International and freight transportation provider Estes Express Lines respectively. VC firm Newtown Partners led the round through its Imperial Venture Fund, and it also featured Newark Venture Partners and Vineta Ventures.
Carmaker General Motors has provided ‘millions of dollars’ in funding for US-based radar imaging technology developer Oculii, Reuters reported yesterday. Catapult Ventures and Conductive Ventures co-led a $55m series B round for the company in May this year that included automotive component manufacturer Hella’s investment arm, Hella Ventures, as well as quantitative trading firm Susquehanna International Group, financial services firm Signature Bank, Schox Ventures (which is anchored by patent firm Schox Group), VectoIQ, Taiwania Capital, PHI-Zoyi Capital, R7 Partners, ACVC Partners, Mesh Ventures and SV Tech Ventures, bringing its overall funding to $75m.
Banking and payment software M2P Fintech has invested $4m in India-based prepaid product provider LivQuik Technology, Inc42 reported yesterday. The company had received $500,000 from VC fund Snow Leopard Technology Ventures in 2013 before raising $1.6m from the same investor two years later. Business services provider Future Enterprises subsequently paid $2.7m for A 55% stake in LivQuik in 2018.
Apparel producer Suumaya Industries has supplied approximately Rs 50m ($680,000) in funding for Nysaa Retail, the India-based owner of value retailer 1-India Family Mart, the Economic Times has reported. Private equity firm Carpediem Capital invested $6.5m in Nysaa in 2018 before APAC Financial Services led a $2.8m debt round in May 2019.
CotoLab, the Japan-based operator of music media publication Digle Magazine and a provider of music marketing tools, raised an undisclosed amount from digital media company Ceres today to increase its overall funding to ¥110m ($1m). It had secured $370,000 in debt and equity financing from financial services firm Mitsubishi UFJ Financial Group’s Mitsubishi UFJ Capital subsidiary and Japan Policy Finance Corporation in September 2018, seven months after an undisclosed amount from journalist Toshinao Sasaki.
M&A
Alternative investment manager Cerberus Capital Management agreed yesterday to acquire US-based mattress producer Helix Sleep in a deal of undisclosed size that would enable real estate developer Simon Property to exit. Helix secured $800,000 from angel investors in 2015 before adding $7.35m in a 2016 series A round that included Simon’s VC arm, Simon Ventures, as well as Double J Capital, WTI, Great Oaks VC and individuals including Jonathan Klein and Jess Itzler.
Health data technology provider Edifecs paid an undisclosed amount yesterday to purchase Talix, a US-based developer of health risk management software spun off by healthcare information and technology producer Healthline Networks. Talix raised $14m in 2016 from REV, the corporate venturing arm of data provider Relx, as well as industrial and power equipment manufacturer General Electric, Investor Growth Capital and VantagePoint Capital Partners. It secured a further $4.5m in 2018, according to a securities filing.
Additional reporting by Liwen-Edison Fu.
