AAA Deal Roundup: JD Industrials builds $300m series B round

Deal Roundup: JD Industrials builds $300m series B round

Cut-off Saw Cutting Metal With Sparks
Cut-off Saw Cutting Metal With Sparks

Funds

France-based venture capital firm Emblem raised €50m ($54m) from backers including enterprise payment services provider Edenred for the first close of a seed fund. The fund is expected to reach a €75m ceiling by the end of this year and has so far secured additional commitments from Vaekstfonden as well as unnamed family offices and entrepreneurs.

Kenya-based impact investment firm Factor[e] Ventures has formed Delta40, a venture studio focusing on climate change in Africa, having received funding from investors including law firm Wilson Sonisi as well as Autodesk Foundation and Ikea Foundation, on behalf of design software producer Autodesk and Ikea franchisee Ingka respectively. The initiative is also backed by Global Energy Alliance for People and Planet, Rockefeller Foundation and Bezos Earth Fund in addition to unnamed government, private sector and finance institutions.

M&A

Investment banking firm JP Morgan agreed to acquire portfolio company Aumni, a US-based investment analytics provider also backed by law firm DLA Piper, for an undisclosed sum. Aumni’s overall funding stood at nearly $64m as of a $50m series B round in 2021.

Funding

Qrtificial intelligence technology provider G42’s 42XFund co-led a $300m series B round for JD Industrials, the China-based supply chain technology subsidiary of ecommerce group JD Group, with Mubadala Investment Company. The round also featured M&G, EQT (through its BPEA EQT unit) and Sequoia China.

CompanyCompany descriptionSectorCountryRoundRound size($m)Deal dateInvestors
Kredivo Digital financial services providerFinancialSingaporeD27023/03/2023Mizuho Bank (lead), Naver (Naver Financial Corporation), GMO (GMO Venture Partners); Square Peg Capital, Jungle Ventures, Openspace Ventures
Flare TherapeuticsPrecision cancer medicine developerHealthcareUSB12322/03/2023Pfizer (Pfizer Ventures) (co-lead), Eli Lilly, Memorial Sloan Kettering Cancer Center, Novartis; GordonMD Global Investments LP (co-lead), Boxer Capital, Boxer Capital, Eventide Asset Management, Invus Financial Advisors, Nextech Invest, Third Rock Ventures, Agent Capital, Pavilion Capital, ShangBay Capital
Kin InsuranceDirect-to-consumer home insurance platformFinancialUSD109 (updated)22/03/2023Allegis Group (Allegis NL Capital), CSAA Insurance Group (Avanta Ventures); Geodesic Capital, QED Investors, Commerce Ventures, Flourish Ventures, Hudson Structured Capital Management, Alpha Edison, August Capital, Proof.VC.
Cognito Therapeutics Neurodegenerative disorder drug developerHealthcareUSB7322/03/2023Wilson Sonsini (WS Investment Company); FoundersX Ventures (lead), Alzheimer’s Drug Discovery Foundation, Starbloom Capital, IAG Capital
EpiBiologicsAntibody therapeutics developerHealthcareUSA5022/03/2023Alphabet (GV); Mubadala Investment Company (Mubadala Capital) (co-lead), Polaris Partners (co-lead), Vivo Capital 
BitkeepCryptocurrency futures and copy trading exchangeFinancialCayman IslandsN/A3023/03/2023Bitget
1DataRobotic process automation technology developerITChinaB29.223/03/2023Pernod Ricard (Convivialite Ventures); CDH Investments (lead), IDG Capital, Eastern Bell Capital
Luma AI3D scanning technology providerMediaUSA2020/03/2023Nvidia (Nventures); David Beyer (lead), Mike Dauber, General Catalyst, Matrix Partners, South Park Commons, Andreas Klinger
Dope.security Web cybersecurity technology developerITUSA1622/03/2023Alphabet (GV) (lead), Preface; Boldstart Ventures
Cocoon BioscienceComplex recombinant protein producer spun off by AlgenexIndustrialSpainN/A15.920/03/2023Viscofan; Columbus Venture Partners (lead), Cleon Capital, North South Ventures 
CaramelOnline automotive sales facilitatorTransportUSSeed1222/03/2023Hearst (Hearst Ventures); Zeev Ventures (lead), Primera Capital 
PicloEnergy flexibility services marketplaceEnergy and Natural ResourcesUKB10.222/03/2023Toshiba (Toshiba Energy Systems & Solutions), Eon (Future Energy Ventures) (co-lead); Clean Growth Fund (co-lead), Green Angel Syndicate, Sustainable Future Ventures, Japan Energy Fund
Windfall BioMethane conversion technology developerEnergy and Natural ResourcesUSSeed922/03/2023Wilbur Ellis (Cavallo Ventures); Mayfield (lead), Breakthrough Energy (Breakthrough Energy Ventures), Untitled, B37 Ventures, Baruch Future Ventures, Bessemer Venture Partners
Mystifly Corporate airfare payment marketplace FinancialIndiaPre-B823/03/2023Recruit (RSI Fund I), Jenfi; Cornerstone Venture Partners, Crusade Partners
NamiIoT system integration technology providerITSingaporeA7.923/03/2023Verzion (Verzion Ventures); Amavi
PocDocMobile diagnostics technology developerHealthcareUKSeed6.3 (updated)22/03/2023Simplyhealth (Simplyhealth Ventures); Forward Partners (lead), MMC Ventures
ButlrDeveloper of space and occupancy measurement sofwtareIndustrialUSN/A517/03/2023Qualcomm (Qualcomm Ventures)
ThoughtfullAsia-focused digital mental health platformHealthcareSingaporePre-A423/03/2023IHH Healthcare; Temasek (Sheares Healthcare Group), Vulpes Investment Management, The Hive Southeast Asia
OneThirdFood scanning technology developerServicesNetherlandsSeed2.923/03/2023Halma (Halma Ventures); Pymwymic (lead), Shift Invest, Oost NL
StarFiveRISC-V semiconductor technology developerITChinaN/AN/A23/03/2023Baidu
NautilusLogMaritime data software providerServicesGermanyAN/A23/03/2023Dettmer Group (D-Arbor Capital) (lead)
LiquidStackImmersion cooling technology developer for data centresIndustrialUSN/AN/A22/03/2023Trane Technologies
WorldsensingSensor connectivity technology developerIndustrialSpainN/AN/A23/03/2023Bentley Systems
UnikraftCloud workload management software providerITGermanySeedN/A23/03/2023NEC (NEC Laboratories Europe)

By Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.