Weekly corporate venturing deal net: 16-20 February 2015
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
The networking technology producer is set to invest $100m in French startups as part of a wider partnership with the French government.
Indonesia to raise $940m corporate-backed venture fund
Indonesia’s conglomerates are expected to provide the cash for the fund this year, according to information and communcations technology minister Rudiantara.
Corporates chase Rainbow Medical
Sony and Abbott-backed incubator Rainbow Medical has attracted the support of China-based corporates ZTE and Ping An, raising $25m.
Kuaidi Dache and Didi Dache confirm merger
Revealed last week to be in discussions for a merger, the two companies have confirmed the deal.
People
Google Capital books passage to India
Google’s growth equity unit is interviewing candidates to head up an office in India, its first outside the United States.
Exits
The Israel-based solar inverter maker, which counts Norwest Venture Partners and GE Capital as backers, intends to float on Nasdaq.
Samsung gets wallet out for LoopPay
Samsung acquired the mobile commerce technology provider for an undisclosed sum, giving exits to Visa and General Electric subsidiary Synchrony Financial.
Muse & Co inspires Mixi into acquisition
Itochu and Mitsubishi UFJ both exited the online flash sales company in a $14.8m purchase by internet company Mixi.
Invitae Corporation closes IPO at $116.8m
Invitae, a genetic testing technology spin-out from Genomic Health, had initially raised $101.6m when it floated last week.
Glaucoma specialist Inotek raises $40m from IPO
MedImmune-backed Inotek, which is working on treatments for glaucoma, priced its IPO at $6a share and is set to secure an additional $20m in convertible debt.
ViewRay to beam up to public markets
The Siemens-backed cancer treatment company, which has raised $195m in funding, will look to raise up to $69m when it floats on Nasdaq.
Arcadia sows seeds of $86m IPO
The agricultural biotechnology developer had raised $101m from investors including chemical producer BASF.
Merck spin-out Poxel raises $158.8m in IPO
Poxel, which is also backed by Bpifrance, will fund clinical trials for two of its drug candidates with the proceeds.
IT
Bloomberg was among the investors as the data management software producer boosted its overall funding to $6.5m, revealing its latest product at the same time.
Pindrop makes noise with $35m series B
Citigroup’s corporate venturing arm made a second investment in the phone fraud prevention company, which has now raised $46m altogether.
ScienceLogic senses investors for $43m series D
Intel Capital invested in the IT monitoring company for the third time, helping it to boost its overall funding to $84m.
Glint lights up $15.5m series A
Wells Fargo-funded firm Norwest Venture Partners has backed Glint’s $15.5m series A round as the company launches its employee engagement platform.
Tealium tags Sumitomo for series D
The marketing technology company secured $30.7m in a round featuring Sumitomo subsidiary Presidio Ventures that took its total funding to more than $77m.
Google’s venture capital investments reach $7.5bn
Google’s corporate venturing efforts have been responsible for generating significant assets, a research note stated.
China-based online education platform HuJiang has secured $100m from search engine Baidu.
Health
Lifecode cracks $20.5m series A
Molecular diagnostics company Lifecode has attracted funding from investors including Mayo Clinic and Mayo Ventures.
Merganser irons out $28m series A round
Merganser, which is developing treatments for haematological and iron overload diseases, has raised $28m in a Novartis-led round.
Media
Pinterest begins talks over $500m round
The series G round would value the Rakuten-backed social network at $11bn, more than double the valuation at which it raised funds last year.
Snapchat talks to investors over $500m round
The cash is set to value the Tencent and Yahoo-backed instant messaging service at between $16bn and $19bn, a source told Bloomberg.
News in Shorts reports $4m series A
Times Internet-backed media company News in Shorts, developer of a news digest app, has secured $4m in a round led by Tiger Global.
Consumer
IDG gives helping hand to Helijia
IDG, which led a $5m round for Helijia last year, has returned for the on-demand manicure service provider’s $50m series C round.
Gilt edges away from IPO, raising $50m
Softbank-backed e-commerce company Gilt has raised $50m in series F funding, pushing back a flotation initially expected to be launched in late 2014.
La Chapelle finds QiGeGe fashionable
Shanghai La Chapelle Fashion will own 54% of the online women’s fashion retailer once a $32m deal is completed.
Moda Operandi’s MO is a series E
Advanced Publications has returned to back the fashion retailer’s $60m series E round.
Snapdeal shops around for new investors
The India-based e-commerce company, backed by a range of corporates including Softbank, Ebay and Intel, is set to secure $400m from new investors.
Financial
Sberbank catches Mobeewave for $6.5m series A
The cash provided by Sberbank’s corporate venturing unit will support mobile payment services startup Mobeewave’s path to market as it expands internationally.
Renren leads $5m series A for Sindeo
Online mortgage marketplace Sindeo has now raised $6.5m since it was founded in 2013, and will use the funding to expand across the US.
Automated investment service Betterment raises $60m
The Citi-backed investment platform reportedly raised the cash at a $400m-$500m valuation, and will use the funding to expand its product offering.
Energy and Natural Resources
AlertMe connects to British Gas
Existing investor British Gas has purchased the connected home company for $100m.
Transport
The Baidu and Google-backed ride hailing app has secured an additional $1bn in equity funding, increasing its total financing to almost $6bn.
Tengelmann drives $25m Carmudi series B
Vehicles classified listings site Carmudi has now raised $35m after raising money in a second Tengelmann-backed round
Services
Dianping reviews possible $800m series E
Tencent and Wanda are among the likely investors in the restaurant listings and reviews site, which could boost its total funding to almost $1.5bn.
Raksul produces corporates for $33.7m series C
The printing services company secured the funds from backers including Opt, Dentsu, Link and Motivation, Gree and Itochu as it looks to expand internationally.