Funding
Sequin, the US-based developer of a debit card for women that helps build credit, has completed a $5m seed round that included design agency Ideo, Y Combinator, Matrix Partners, Scribble Ventures, Thomvest and Commerce Ventures, Forbes has reported. The company had previously received $700,000 in pre-seed funding from angel investors including Carrie Schwab, Kevin Weil, Deb Liu, Dorothy Jean Chang and various female employees at Ideo.
Software producer Microsoft’s M12 subsidiary has co-led a C$3.15m ($2.5m) seed round for Private AI, a Canada-based developer of machine learning and natural language processing tools designed to maintain privacy. The round was led by venture capital fund Forum Ventures and included Shasta Ventures, Hyperplane Venture Capital, Parliament Angels and Differential Ventures, the last of which had taken part in the company’s $300,000 pre-seed round. Private AI also named angel investors Ajay Agrawal and Chris Hadfield as backers.
UK-based weather modelling software developer Previsco, a spinout of Loughborough University, has received £1.75m ($2.4m) in a seed round that included Foresight Williams Technology, a joint venture for engineering firm Williams Advanced Engineering and investment manager Foresight Group, UKTN has reported. It was joined in the round by Midlands Engine Investment Fund.
Healthcare provider Green Cross Health has invested an undisclosed amount in New Zealand-based online pharmacy Pilldrop, Scoop Business has reported. The startup works with physicians to sort prescription medication for customers and then delivers it to their homes.
Paytail, the India-based provider of a buy now, pay later financing service, has secured $1.5m in seed funding from investors including financial services and investment firm Cholamandalam, YourStory has reported. The round also featured undisclosed angel investors, and the cash will support recruitment and product development.
India-based legal concierge provider Legistify has received $500,000 in pre-series A funding from investors including e-commerce marketplace IndiaMart, Business Standard reported today, citing a press release. Titan Capital led the round, which was also backed by GSF Accelerator and Java Capital while angel investors including Ranjit Singh, Ishaan Jalan and Tushar Balsara sold shares as part of the transaction.
Basketball professional Kevin Love has invested an undisclosed amount in Molekule, a US-based air purifier developer backed by networking technology producer Inventec Appliances and contract manufacturer Foxconn. The company had previously raised about $97m, $58m coming in a February 2020 series C round led by RPS Ventures and backed by Inventec, Foundry Group, Crosslink Capital, Founder’s Circle Capital, Uncork Capital and TransLink Capital.
M&A
Digital musculoskeletal care provider Hinge Health paid an undisclosed amount on Friday to purchase US-based motion-tracking software developer Wrnch, allowing optical equipment manufacturer Nikon to exit. Nikon invested $7.5m in the company in mid-2019 following $1.6m in series A funding from Radical Ventures, Aligo Innovation (now known as Alexys), Gr0k and TandemLaunch Ventures in 2016.
Human resources provider Recruit exited Fortella, a US-based developer of business finance intelligence software, in an acquisition of undisclosed size by revenue optimisation software provider 6sense last month. Fortella had not revealed details of its funding but had named Recruit subsidiary Recruit Strategic Partners as an investor along with Monta Vista Capital, BootstrapLabs and BluePointe Ventures.
