Big Deal: Argo launches with $1bn
Ford has committed $1bn to the software developer over a five-year period in return for a majority stake and the startup’s services in developing its autonomous car technology.
Corporate venturing deal net: 13-17 February 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
JLR places InMotion accelerator
Jaguar Land Rover’s corporate venturing unit is set to launch a six-month accelerator scheme aimed at the mobility and supply chain technology sectors.
BNP Paribas banks on Plug and Play venture
Financial services firm BNP Paribas has partnered the accelerator to launch a Paris-based initiative for startups in the financial and insurance technology sectors.
Nasdaq to enter the venture capital market
Nasdaq, which operates more than 80 exchanges worldwide, plans to invest in and help to develop financial technology that could benefit its business.
People
Tanghal unpicks ARM to join In-Q-Tel
IQT, which is one of the world’s most active strategic investors with more than 40 new deals last year, confirmed her appointment but declined to comment.
Diaine peels away from Orange Fab
Pascale Diaine, lead manager for Orange’s accelerator since it launched in 2012, has departed for venture capital firm Storm Ventures where she will take on a principal role.
Exits
The Snapchat owner will raise $3.2bn if it floats at the top of its range, and shareholders that could include Tencent, Alibaba and Yahoo will sell 45 million shares in the offering.
The used car marketplace, which had been backed by automaker SAIC Motor at a $500m valuation, is set to wind down and sell off its assets.
Verizon Ventures has exited drone management software developer Skyward through an acquisition by its parent company.
Steelwedge acquisition opens door to JF Shea exit
E2 Open has acquired Shea Ventures-backed business planning software producer Steelwedge, which had raised about $52m in funding, in an all-share deal.
Emtek, Gree and Singapore Press Holdings look set to exit digital payment platform Kudo in an acquisition reportedly sized at more than $100m.
Visterra makes IPO plans vanish
The Merck & Co-backed antibody developer had secured $100m in equity and debt but has withdrawn plans for an IPO that would have raised $54m at the top of its range.
IT
The virtual reality imaging technology provider has now raised $200m in total, securing new funding in a round backed by Qualcomm, Foxconn and Huayi Brothers.
Investors deliver $11m to Electric Cloud
Siemens-backed Electric Cloud has received $6m from Wellington Financial and an additional $5m in credit and a venture term loan from Bridge Bank.
Samanage summons Salesforce to raise $20m
The enterprise service desk software provider has added Salesforce Ventures to its investor base in a round that increased its overall funding to $44m.
Baidu Ventures gets off the mark in $27m 8i round
Baidu’s corporate venturing unit made its first investment as part of a series B round led by Time Warner Investments that included Hearst Ventures and Verizon Ventures.
IntSights reveals $15m series B
Wipro made its second investment in the cyber threat intelligence platform, after taking part in its $7.5m series A round in September.
Health
Corporates treat MClinica to $6.3m
Globe Telecom, IMJ and Telkom Indonesia have committed capital to a $6.3m series A round for MClinica, the developer of a platform that connects pharmacies.
Rhythm reaches mezzanine stage to raise $41m
Pfizer and Ipsen returned to reinvest in the metabolic disorder treatment developer, which has now raised $114m altogether.
The Illumina-backed cellular technology developer has closed $12m in a series A round led by HBM Genomics.
Mayo Clinic keeps Sensely company for series B
Sensely, the developer of a virtual nurse, has raised $8m in a funding round led by Chengwei Capital that featured healthcare company Mayo Clinic.
Forerunner Medical crosses series B finish line
Existing investor WuXi PharmaTech took part in a round for the medical device developer that was led by a joint venture formed by Medtronic and Sequoia Capital.
SuperX gets $11m of J&J-backed support
Johnson & Johnson has invested in SuperX, the antibody developer founded by the executive team of XO1, which was acquired by subsidiary Janssen Pharmaceuticals in 2015.
HealthReveal divulges series A funding
HealthReveal, the developer of an analytics platform that monitors the conditions of chronic disease sufferers, has secured $10.8m in a round led by GE Ventures.
IDG Ventures samples SigTuple in $5.8m round
SigTuple, developer of a digital pathology system, has netted IDG Ventures India as an investor as part of a $5.8m series A round.
Media
ProSiebenSat.1 has returned to help boost Minute Media’s total funding to $60m, two years after leading a $15m round for the sports media platform.
Rokt rockets to $15m in series B
The transaction marketing platform has secured fresh capital from investors including media company Time, boosting its total funding to more than $23m.
NewsWhip scoops $6.4m in series A round
Existing investor Associated Press has returned to back news analytics platform NewsWhip’s series A round, which added Asahi Shimbun to the company’s shareholders.
Corporates enter Dreamscape through $11m series A
Warner Bros, 21st Century Fox, MGM, Imax and Westfield have all contributed to the first disclosed round for VR cinema startup Dreamscape Immersive.
Consumer
MealPal makes friends with Comcast Ventures
Comcast’s CVC unit has led a $15m series A round for lunch subscription service MealPal, announced as it expands from the US into London.
Caavo integrates corporates for $15m
Sky and Hearst are among the investors in Caavo, the developer of a device that integrates all of a user’s entertainment hardware and software.
Intuition senses iRobot to boost funding to $6m
Companion robot developer Intuition Robotics has now raised $6m in total, adding robotics technology provider iRobot to an investor base already including Bloomberg.
Tiki to take up to $60m of funding
The Vietnam-based e-commerce platform, which counts Cyberagent, VNG and Sumitomo as investors, is reportedly raising between $50m and $60m for its series D round.
Suning gets stake in Lamabang for its buck
Electronics retailer Suning has led a series D round of undisclosed size, which may lead to a merger with the corporate’s own maternity e-commerce subsidiary, Red Baby.
The Comcast and Shea-backed hair colouring brand has raised $13m from unnamed investors to boost its overall funding to approximately $45m since 2013.
Financial
Investors make Sure in $6.3m round
The Fosun-backed mobile insurance marketplace has collected $6.3m and aims to raise $8m, according to a securities filing.
SoftBank to pay $3.3bn to breach Fortress
The $3.3bn acquisition of investment manager Fortress Investment Group will give the corporate stakes in venture-backed companies including Lyft.
CrediFi, operator of a data platform for real estate financing, took its overall funding to $23m in a round featuring VC representatives of Mitsui Fudosan and Liberty Interactive.
Exactuals casts City National as series A lead
City National has co-led a $10m round for entertainment payment software developer Exactuals alongside the formation of a strategic alliance.
Energy and Natural Resources
ReNew powers up with $200m from Jera
The Indian renewable energy producer has received $200m in equity funding from Jera, a joint venture between Tokyo Electric Power and Chubu Electric Power, at a $2bn valuation.
Industrial
NanoSteel shows mettle to raise $15m
The advanced steel developer has raised additional funding in round led by existing investor GM Ventures that also featured customer Lear Corporation.
Services
Schenker captains uShip’s $25m series D
Freight delivery marketplace and software provider uShip has doubled its total funding with a round led by key customer DB Schenker.