Funding
Automotive manufacturer SAIC Motor’s Shang Qi Capital subsidiary has led a RMB5bn ($740m) series D round for RT Advanced Materials, a China-based producer of materials for use in lithium-ion batteries, DealStreetAsia reported yesterday. State Development and Investment Corporation was among the state-owned groups that took part in the round, through its SDIC Unity Capital fund, and undisclosed carmakers and battery producers made up the participants.
Contentsquare, a US-based provider of digital experience analytics software, secured $400m in series F equity funding from investors including telecommunications and internet group SoftBank’s Vision Fund 2, together with $200m in debt financing, doubling its valuation to $5.6bn in the process. Sixth Street Growth led the equity portion, which also featured BPIfrance, Canaan, Eurazeo, Highland Europe, KKR, LionTree and funds and accounts managed by BlackRock, while the debt financing came from BNP Paribas, Crédit Agricole Corporate & Investment Bank, Goldman Sachs, JP Morgan and Société Générale.
M&A
Financial services provider BMO Financial Group has agreed to buy Radicle Group, a Canada-based provider of sustainability measurement technology and advisory services, in a deal of undisclosed size that will allow telecoms firm Telus to exit. The corporate’s Telus Ventures unit had invested an undislcosed sum in Radicle in September 2021.
Electric vehicle technology provider EV Technology Group has paid $55.1m to increase its stake in UK-headquartered electric carmaker Moke International from 17.6% to 67.6%. EV Technology had made its initial investment in Moke in November 2021, and the latest deal gives it the option to wholly acquire the company.
Other funding
| Company name | Company description | Sector | Country | Round | Round size ($) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Whatnot | Live shopping platform operator | Consumer | USA | D | 260 | 21/07/2022 | Alphabet (CapitalG); Bond, Andreessen Horowitz, YC Continuity |
| Meati Foods | Mushroom-based food producer | Consumer | USA | C | 150 | 21/07/2022 | Chipotle Mexican Grill (Cultivate Next); Revolution Growth, CPP Investments, Grosvenor Food & AgTech, Wellington Management |
| IQM Quantum Computers | Superconducting quantum computer producer | Information Technology | Finland | A2 | 128 | 21/07/2022 | Tencent, OpenOcean, Varma; Bayern Kapital, EIC Fund, OurCrowd, Salvia, Santo Venture Capital, MIG Fonds, Matadero QED, Tesi, Vsquared, Maki.vc, Tofino |
| TomoCredit | Migrant-focused online lender | Financial | USA | N/A | 122 (Equity and debt) | 21/07/2022 | Morgan Stanley (Next Level Fund), MasterCard; GoldHouse, Asian Hustle Network, Hyphen Capital |
| 15Five | Provider of employee performance management software | Services | USA | C | 52 | 21/07/2022 | Siemens (Next47); Quad Partners (lead) Origin Ventures, Edison Partners, Matrix Partners, Point Nine Capital, New Ground Ventures |
| Zededa | Edge computing orchestration platform | Information Technology | USA | B | 26 | 21/07/2022 | Chevron (Chevron Technology Ventures), Porsche (Porsche Ventures), Samsung (Samsung Next), EDF (EDF North America Ventures), Rockwell Automation, Juniper Networks; Almaz Capital, Lux Capital, Coast Range Capital, Energize Ventures |
| Hashflow | Decentralised finance trading platform | Financial | USA | N/A | 25 | 21/07/2022 | Coinbase (Coinbase Ventures), Kraken (Kraken Ventures), Kronos Research, GSR, Autonomy, Wintermute Trading, Jump Trading (Jump Crypto); Electric Capital, Dragonfly Capital Partners, Fabric Ventures, Evernew Capital, Spacewhale Capital, Balaji Srinivasan, Meltem Demirors, Anthony Sassano, Jason Choi |
| Anvilogic | Cybersecurity operations platform developer | Information Technology | USA | B | 25 | 21/07/2022 | Xerox (Xerox Ventures); Outpost Ventures, Foundation Capital, G Squared, Point72 Ventures, Cervin Ventures |
| Mahalo Banking | Banking services provider focusing on credit unions | Financial | USA | N/A | 20 | 19/07/2022 | Superior Credit Union (co-lead), Community Credit Union (co-lead), Dover Federal Credit Union (co-lead) |
| Quantifi Photonics | Photonics testing and measurement equipment maker | Industrial | New Zealand | C | 15 | 21/07/2022 | Intel (Intel Capital); unnamed existing investors |
| Priori Legal | Online legal staff marketplace | Services | USA | A-1 | 15 | 20/07/2022 | Thomson Reuters (Thomson Reuters Ventures), Hearst (HearstLab); Eagle Proprietary Investments (lead), The LegalTechFund, Thirty Five Ventures, Peak6 Strategic Capital, Soma Ventures, Bridge Investments, Great Oaks Venture Capital, Jambhala, Mindset Ventures |
| Treble.ai | WhatsApp-based customer service tool developer | Services | Colombia | A | 15 | 21/07/2022 | Twilio (Twilio Ventures); Tiger Global Management (lead), FundersClub, Gokul Rajaram |
| Brill Power | Battery safety technology developer | Energy and Natural Resources | UK | A | 10.5 | 20/07/2022 | Legal & General (Legal & General Capital) (co-lead), Barclays (Barclays Sustainable Impact Capital Programme) (co-lead), Shell (Shell Ventures); Oxford Science Enterprises, Oxford Investment Consultants, Oxford University, Climate KIC |
| KuCoin | Cryptocurrency exchange | Financial | Seychelles | N/A | 10 | 21/07/2022 | Susquehanna International Group |
| Virility Medical | Premature ejaculation treatment developer | Healthcare | Israel | N/A | 10 | 21/07/2022 | Migdal Insurance and Financial Holdings (lead); Arkin Investments |
| Natron Energy | Sodium-ion battery manufacturer | Energy and Natural Resources | USA | N/A | 7 | 21/07/2022 | Nabors Industries |
| Bloom | Banking app developer | Financial | Sudan | Seed | 6.5 | 20/07/2022 | Visa; Y Combinator, Global Founders Capital, Goodwater Capital, VentureSouq, Arash Ferdowsi, Nicolas Kopp, Blaise Matuidi, Kieran Gibbs |
| Fairbanc | Indonesia-focused buy now, pay later service | Financial | Singapore | Pre-A | 4.8 | 22/07/2022 | Lippo Group; Vertex Ventures (lead), Asian Development Bank, Accion Venture Lab, East Ventures, 500 Global, Michael Smapoerna |
| Burger Singh | Fast food chain | Consumer | India | A | 3.8 | 20/07/2022 | Old World Hospitality; Negen Capital (lead), LetsVenture, RB Investments, Rukam Capital, KCT Family Office, VM Salgaocar Family Office, Rohit Khattar, Jasleen Royal |
| Geekster | Online upskilling platform developer | Services | India | Pre-A | 1.3 | 20/07/2022 | MyNavi; Inflection Point Ventures (lead), We Founder Circle, Ah Ventures |
| Dovetail | Interior design software producer | Services | USA | Pre-seed | 0.7 | 21/07/2022 | Lake County Technologies |
| Hyphen | Automated meal production technology developer | Industrial | USA | N/A | N/A | 21/07/2022 | Chipotle Mexican Grill (Cultivate Next); Tiger Global Management, unnamed others |
| BCP Global | Latin America-focused banking software provider | Financial | USA | Seed | N/A | 19/07/2022 | Banco Bradesco |
| AKA Robotics | Intelligent robotics technology developer | Industrial | China | A | N/A | 19/07/2022 | Legend Holdings (Legend Capital); Cash Capital, Beyond Capital, Qianhai FOF |
| H2 Green Steel | Developer of an electrified steel production process | Industrial | Sweden | N/A | N/A | 20/07/2022 | Hitachi (Hitachi Energy) |
| KaloCyte | Developer of a red blood cell substitute | Healthcare | USA | N/A | N/A | 20/07/2022 | New York Blood Center |
| First Care Clinics | Rural-focused clinical care provider | Healthcare | USA | N/A | N/A | 20/07/2022 | Fast Pace Health |
| Premier Lacrosse League | Professional lacrosse league owner | Media | USA | D | N/A | 21/07/2022 | World Wrestling Entertainment, Wheelhouse Entertainment; The Chernin Group (lead), Blue Pool Capital, Brett Jefferson Holdings, Thirty Five Ventures, Pomp Investments |
| Fur Ball Story | Ayurvedic veterinary medicine provider | Healthcare | India | N/A | N/A | 21/07/2022 | Emami |
| Ecarx | Automotive technology platform developer | Transport | China | N/A | N/A | 21/07/2022 | Luminar |