Corporate venturing deal net: 3 – 7 July 2017
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
AT&T makes $200m corporate venturing call
The telecommunications firm is set to provide up to $200m for a strategic investment fund that will invest in connected services and platforms.
Vinci helps Axeleo draw up first close
Vinci Energies is one of several limited partners to contribute to a $28.5m first close for enterprise technology acceleration platform Axeleo’s first fund.
Autoliv moves $15m to Autotech Ventures
Ground transport-focused VC fund Autotech Ventures has added the car safety equipment maker to its corporate backers as it moves toward a $150m close.
Wayra opens social accelerator in UK
Wayra Fair By Design will support seven startups per year, in the areas of energy, finance, insurance and costs imposed due to someone’s geographical residence.
Coca-Cola opens lid on startup results
The beverages group had provided $250,000 each to 11 companies through its now closed Founders Program, and will now focus on its Bridge scheme.
Entrepreneurs in InsurTech Garage will potentially raise money from Barcamper Ventures and receive support from corporates Cisco and Reale Mutua.
Google maps out Area 120 details
The internal incubator enables employees to pitch a business idea and, if successful, will have six months to work on the project full time and prove its viability.
Ex-Intel investment director Gupta forms new firm
WEH Ventures is helmed by Deepak Gupta, who was an investment director at Intel Capital between 2010 and 2014.
People
Qualcomm Ventures opens Silicon Valley office
The corporate venturing unit has opened an eighth office, in Silicon Valley, which will be headed by Patrick Eggen, its managing director for North America.
Verizon Ventures makes pilgrimage to Israel
The corporate venturing unit has launched an Israeli office that will be led by the former managing director of AOL investment unit Nautilus.
Saudi Aramco Energy Ventures investment manager Louis Albanese II has been hired as a vice-president at investment advisory firm Catamount Wealth Management.
Housenbold takes up residence at Softbank
Jeffrey Housenbold had been president and CEO of Shutterfly for 11 years and an entrepreneur-in-residence at venture capital firm Sutter Hill Ventures.
Jonathan Carrier, formerly head of InMotion for Jaguar Land Rover, has departed to lead the corporate liaison initiative at RocketSpace’s London tech campus.
Takeda Ventures senior investment director Ilan Zipkin has become the second high-profile departure from the unit in four months to join the Parker Institute for Cancer Immunotherapy.
Exits
Jawbone locks up as liquidation process begins
The Deutsche Telekom-backed wearable fitness tracker developer was once valued at more than $3bn, but has now begun liquidation proceedings.
MyRepublic begins journey to IPO
Sinar Mas and Dian Swastatika Sentosa-backed internet service provider MyRepublic is targeting the end of 2018 for an initial public offering, its CEO has said.
Snapdeal turns down nine-figure Flipkart offer
The corporate-backed online marketplace is reportedly holding out for $1bn, having rejected an acquisition offer of between $550m and $900m.
InfoScout gets on Market Track in acquisition deal
Dunnhumby Ventures has exited consumer analytics provider InfoScout in a cash and stock purchase by business intelligence company Market Track.
The pharmaceutical company has bought diabetes management platform MySugr for an undisclosed sum, two years after its corporate venturing unit backed a $4.8m seed round.
Unchained Labs links to Novo in $13m round
Existing investor Novo Ventures contributed to a series C round announced alongside Unchained Labs’ acquisition of protein measurement device maker Trinean.
Microsoft has confirmed it has agreed to buy the Infosys-backed cloud analytics platform, for a price previously touted as up to $70m.
Dropbox starts IPO preparations
The Salesforce Ventures-backed data storage platform is reportedly seeking underwriters for what could be the largest tech IPO since Snap.
The bone disease therapy developer had raised $92.5m from investors including UCB Pharma across two rounds in 2015.
Kinvey gives way to Progress in $49m acquisition
Progress Software has acquired business app development platform Kinvey, which had raised almost $18m from backers including NTT Docomo Ventures and Verizon Ventures.
Delivery Hero triumphs in $1.1bn IPO
The Rocket Internet-owned Global Online Takeaway Group sold some $148m in shares, as the online food ordering platform floated at the top of its range.
Razer aims for $600m in Hong Kong IPO
The gaming product and software provider is set to float in Asia, giving an exit to investors including Hangzhou Liaison Interactive.
IT
Jiguang finds Fidelity for series D
Mobile app data supplier Jiguang, which counts Fosun Kinzon Capital as an investor, has raised an eight-figure dollar sum in a Fidelity International-led series D round.
Spotinst positions itself for $15m series A
Intel Capital led the cloud infrastructure technology startup’s series A round, which will support product development and international sales and marketing.
HPE lifts Platform9 to $22m series C
The hybrid cloud software developer has now raised $36.5m altogether, after Hewlett Packard Enterprise joined a round led by Canvas Ventures.
Swift Navigation pinpoints $34m series B
The Qualcomm-backed GPS technology producer has raised funding in a round led by existing backer New Enterprise Associates that included Eclipse and First Round Capital.
Health
Dune Medical worms its way to new funding
Existing backer Kraft Group returned to take part in a $12.3m round that boosted the oncology diagnostics technology provider’s total funding to more than $53m.
Axonics acts quickly to close series C
Axonics Modulation Technologies has added more than $20m to a Legend Capital-backed series C round that took the company’s total funding past the $100m mark.
Anaeropharma adds Novartis to its investors
Novartis has joined Shinsei Corporate Investment, Seventure Partners, INCJ and Mitsubishi UFJ Capital in a $13.2m round for the cancer drug developer.
Tristel takes a spot in $6.8m MobileODT round
MobileODT has now raised more than $13m altogether, after closing a series B round in which Tristel paid $750,000 for a stake of almost 3.3%.
Indi Molecular meets Merck for series A
Merck unit M Ventures co-led an $11.5m round for the antibody replacement technology developer with corporate-sponsored firm Legend Capital.
Babyscripts signs up investors for $5.7m round
The obstetrics care platform developer has received new funding in a round featuring Chemo Group and corporate venturing unit Aurora Health Care Ventures.
Eloxx elevates series C to $30m
Opko was among the investors in genetic disease therapy develoepr Eloxx’s series C round, which has now been increased by a further $6m to $30m.
Media
Nickolodeon, DMG Entertainment, Cali Group and Axiomatic took part in a series C round that lifted the eSports promoter’s overall equity funding to $26m.
Microsoft Ventures and Wellen+Nöthen Ventures were among the participants as the live video management platform raised funding that will allow it to relocate to the US.
Consumer
Tencent puts up $66m for smart investment
Tencent has taken a 16.7% stake in TCL smart television subsidiary Shenzhen Thunderbird Network Technology and will pre-load content on to its TVs.
Topical skin treatment developer and JLabs graduate Sienna Biopharmaceuticals has filed for a $74.8m initial public offering, after raising $86m in venture funding.
Zaozuo zigzags to $20m series B
Bertelsmann Asia Investments led the online furniture brand’s series B round as an existing investor, having reportedly backed the company’s $15m series A.
TCL helps Wonder reach $14m in funding
The stealth-stage mobile gaming hardware developer has reportedly raised $14m in total, closing a series A round co-led by TCL Communication.
Financial
Instarem processes $13m funding transaction
The international money transfer platform will use proceeds from the SBI-backed round to expand throughout Europe and into the US.
Energy and Natural Resources
Theva conducts $8m in EnBW-backed round
EnBW New Ventures has come on board as a new investor to help superconductor producer Theva close its second funding round in the space of a year.
Industrial
Shougang helps reinforce Zhaogang with $73m
Zhaogang has secured $73m in funding from investors including a Shougang-backed fund, countering reports last year that it was gearing up for an initial public offering.
Mirexus flexes muscles to raise $12m
Asahi Kasei-backed biomaterials producer Mirexus will use the funding, supplied by investors including Goddard Enterprises subsidiary GEL Tech, to support a new production facility.
The manufacturing services provider has now raised about $29m this year, after BMW i Ventures led a round that included existing investor GE Ventures.
Transport
Alibaba chases down Ofo for $700m series E
Alibaba has joined bike sharing platform Ofo’s investor base, co-leading a $700m round with Hony Capital and Citic Private Equity that included Didi Chuxing.
Digital Garage and Beenos both invested as the online vehicle e-commerce platform increased its overall funding to $65m.
WM Motor greets Hellobike with investment
Bicycle sharing startup Hellobike has received an undisclosed amount of funding from the electric vehicle developer, three months after closing a series B round.
Independent Aftersales receives $41m service
China Harmony New Energy Auto Holding has spun out Independent Aftersales with $41.2m of funding, much of which came from Leaguer Auto and Aouto Investment.
Vector rockets to $21m series A
The Kanematsu-backed satellite launch services startup has now raised $31m altogether and will use the capital to fund upcoming commercial and passenger launches.
Kakao drives $437m mobility spinout
Kakao has secured $437m in funding to spin out Kakao Mobility, which will operate a range of services including ride hailing app Kakao Driver.
Services
Corporates hitch a ride on Huodongxing series A+ round
Tencent, URWork and Recruit all made strategic investments in an eight-figure renminbi round for Qualcomm-backed online ticketing platform Huodongxing.
Science Exchange gets $29m series C result
The research and development services platform has now raised a total of $58m since 2011, from an investor base that includes O’Reilly Alpha Tech Ventures.
URWork lands Aikang as new investor
Aikang Group’s $29.4m investment in URWork follows two rounds earlier this year that involved Junfa Group and Dahong Group, and Beijing Xingpai, respectively.
The meditation and mindfulness platform has added capital from a Spectrum Equity-led round to $40m from investors including WME, Chernin Group and Broadway Video.
Danke Apartment houses series A+ cash
URWork has contributed to a $14.7m round for apartment rental portal Danke Apartment, which will use the capital to expand into three new Chinese markets.
Gome helps give series C funding to iKongJian
Home renovation management platform iKongJian has raised $31m in a Gome Holdings-led round that increased its overall funding to $53m.