Weekly corporate venturing deal net 11 – 15 January 2016
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Summary of venture-backed tech to watch out for
A weekly update on interesting deals.
Fundraising
Citrix to shut down accelerator next month
The Citrix Startup Accelerator initiative, in place since 2010, will formally close down at the end of February.
Startups to shape up in JJHWS accelerator
Johnson & Johnson Health and Wellness Solutions has joined forces with Plug and Play Tech Center to launch an accelerator aimed at the consumer wellness sector.
Courtside Ventures kicks off with $35m
The sports-focused venture fund has $35m in capital from limited partners including WPP, and will invest in sports and media technology developers.
Partners Innovation Fund receives $65m boost
Brigham and Women’s Hospital and Massachusetts General Hospital have committed additional capital to Partners Healthcare’s fund, increasing its capital to $100m.
Singtel Innov8 calls up startups
The telecoms firm has launched a new program to invest in startups that can solve business challenges faced by the company, and will provide up to $50,000 to each.
D+H provides capital as IVP reaches $72.5m
Information Venture Partners, a fintech-focused VC firm spun out of Royal Bank of Canada, has secured D+H as a limited partner on its way to a $100m final close for its latest fund.
Suncor and Cenovus to extract $100m for new fund
The Canada-based energy companies will each provide $50m in the next 10 years to a fund called Evok Innovations, which will fund cleaner oil and gas technology.
People
Joshua Resnick, president and managing partner of Merck subsidiary MRL Ventures Fund for just over a year, has joined SV Life Sciences as a partner.
Mondini to materialise outside of Sabic
Fabien Mondini, Sabic Ventures’ senior investment manager in Europe since 2012, has left its parent company, chemicals and advanced materials producer Sabic.
Exits
CommonFloor accepts Quikr option for acquisition
Alphabet has exited realty listings platform CommonFloor in a majority-stock purchase by Quikr that reportedly valued it at $100m to $120m.
Mogujie finds Meilishuo a good fit
Tencent-backed Meilishuo is set to be acquired by its competitor Mogujie in a stock deal, and the $3bn merged company could raise up to $250m in the aftermath.
Qualcomm advertises Heyzap exit after RTNS acquisition
Qualcomm has exited app monetisation company Heyzap in an acquisition by RTNS that could end up being worth up to $45m.
Wanda confirms $3.5bn Legendary acquisition
SoftBank is among the exiting investors as conglomerate Dalian Wanda acquires US film and comics producer Legendary Entertainment.
Apple recognises Emotient in acquisition
Intel Capital exited Emotient, which is developing facial recognition technology, after investing in a $6m round in 2013.
TiGenix aims for $57.5m to stem from IPO
The Belgium-based stem cell therapy developer, which is backed by investors including Gri-Cel and Novartis, has filed to go public in the US.
The eye disease treatment developer has raised $48m in funding from investors including Santen Pharmaceutical, which is also a research partner.
IT
Internet-of-things tehcnology company MMB raises $7m
NXP Semiconductor was among the investors in a series B round raised in conjunction with a strategic alliance between it and MMB Networks.
The Liberty Global-backed smart antenna manufacturer has closed a series D round that featured undisclosed strategic investors.
Fundraising strategy pays off for unicorn Anaplan
The enterprise planning software company raised $90m in a Salesforce-backed round that valued it at more than $1bn.
Access Industries was among the participants in a series E round for Zerto that almost doubled the data management company’s total funding to more than $110m.
The data analytics technology developer has now raised $96m altogether, after closing a series C round featuring Sapphire Ventures.
App Annie looks after series E with $63m
The data analytics platform’s total funding has reached $157m, a year after it raised $55m in a series D round backed by IDG Capital Partners.
Health
The oncology drug developer completed a Tianda and Accuron-backed series C round that initially closed at $34m last month, bringing its overall funding to $77m.
Corporates help dig up $48m for Petra
AbbVie, Eli Lilly, Johnson & Johnson, Pfizer, IBM and WuXi PharmaTech are among the backers of a $48m series A round for life sciences startup Petra Pharma.
Biogen helps carve out $17.5m for Rodin
Neurological therapeutics developer Rodin took its overall funding to more than $30m after securing financing from Biogen and co-founder Atlas Venture.
Exosome diagnoses $60m series B
The medical diagnostics company has achieved the final close of its series B round that was raised over three tranches from investors including biotech firm Qiagen.
Corporates get to Zymeworks for $61m mezzanine round
Celgene, Eli Lilly and Brace Pharma participated in a series A mezzanine financing round that will help Zymeworks advance its breast cancer drugs into clinical development.
Clal draws Pi-Cardia in $10m round
Pi-Cardia will use the funding to complete development of the next generation of its aortic valve stenosis treatment technology.
Beijing Cuiyutao grows up with $10m
The paediatric care startup raised the cash in a series B round featuring real estate developer Longfor Properties.
Elastagen stretches to $9m series B
The round, backed by AmorePacific’s corporate venturing unit, will support the clinical advancement of Elastagen’s cosmetic surgery technology.
Cortexyme signals corporates for $15m series A
The startup, which is developing treatments for Alzheimer’s disease, received the money in a Pfizer-led round that also included Takeda’s corporate venturing unit.
Alector gets smart with $29.5m series D
Amgen and AbbVie have joined existing backers including Merck and Alphabet for a round led by the corporate and UK government-backed Dementia Discovery Fund.
InSightec focuses itself to raise $22m
The GE and Elbit Imaging-backed company uses focused ultrasound to treat various disorders, and has now raised more than $155m since 1999.
Illumina puts $100m spotlight on Grail
Cancer screening test developer Grail has been spun out of biotech company Illumina with a $100m series A round co-led by Illumina and Arch Venture Partners.
Johnson & Johnson chips in for Aelix series A
Aelix Therapeutics will use the $12.7m of funding to advance its HIV vaccine candidate through phase 2 clinical trials.
Lundbeck contributes to Iconic $40m round
The corporate venturing unit returned to back a $40m series C round for the retinal disease and cancer treatment developer, taking its overall funding to more than $70m.
Lodo loads up series A with $17m
Lodo Therapeutics has been launched by investment firm Accelerator Corporation with series A capital from investors including AbbVie, Eli Lilly, Wuxi PharmaTech, Pfizer, IBM and Johnson & Johnson.
Novartis reaches Surface in $170m collaboration deal
Novartis is set to make an equity investment in Surface Oncology as part of the agreement, a year after taking part in the company’s $35m series A round.
V-Wave gets $28m series B implant
Medical device developer V-Wave has added Johnson & Johnson’s corporate venturing arm to its shareholders while Edwards Lifesciences also invested.
Healthline subsidiary Talix spins out with $14m
General Electric and RELX were among the investors that supplied the risk management software provider with capital as it spun out from Healthline Networks.
Syros secures $40m in series C cycle
WuXi Healthcare Ventures and corporate-backed Deerfield Management are among the investors in the gene control drug developer’s series C round.
Media
Video broadcasting app Inke has received $10m from the gaming company, which picked up an 18% stake in return for its investment.
SoftBank and Samsung sweeten MyMusicTaste series A
The gig crowdsourcing platform raised $10m in a SoftBank Ventures Korea-led round that will support international growth.
Consumer
Yahoo Japan was among the new investors in a round that values the flight and travel booking service a $1.6bn.
Financial
Commerzbank’s corporate venturing unit co-led the series B round, which will be used to expand Mambu’s team and fund international growth.
Electronics supplier Shengjing Technology co-led the round, in which the online payment technology company raised an eight-figure dollar sum.
Lending platform Duanrong raises $59m
Peer-to-peer lending platform Duanrong has now raised $69m altogether, after securing series B funding from pharmaceutical company Furen.
Energy and Natural Resources
Monsanto’s CVC unit reveals investment portfolio
Monsanto Growth Ventures, which invests from seed-stage onwards, has backed 11 companies operating in the US, Spain and Estonia.
Pearl Electric switches on for $30m series C
The power transmission equipment supplier raised the cash from investors including China General Nuclear Power and Hongta Tobacco.
Transport
Uber China picks up corporates for new funding
Uber’s China subsidiary raised the undisclosed amount from HNA, Guangzhou Automobile and China Life Insurance at a $7bn pre-money valuation.
Services
Sansan draws funding card in $16.9m round
Salesforce and Nippon Life helped take the business card management platform’s funding to more than $36m since 2009.
Baidu begins talks over Indian deals
The China-based internet company is in talks with Zomato, Big Basket and Bookmyshow as part of a strategic investment drive in India.