Corporate venturing deal net: 20-24 November 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
Crescent creates $150m venture capital arm
The UAE-based conglomerate has diversified into direct VC investments, and will put half the cash into MENA-based companies.
The energy and telecoms utility has committed a seven-figure euro amount to High-Tech Gründerfonds’ oversubscribed third fund.
Corporates go to SeedCamp for fourth fund
The Europe-focused VC firm has raised more than $54m from LPs including Unilever Ventures, Thomas Cook Money and MassMutual Ventures.
Barilla to nourish startups with venture fund
Blu1877 will invest in innovations related to pasta products, and will invite startups to its pilot plant to test out their concepts.
Axa adds $175m for fund-of-funds
The insurer’s strategic investment arm has put up $175m for a scheme called ASV Diversified that will supply up to $15m for VC fund investments.
People
Heggie and Sharma ascend at JetBlue
Christina Heggie and Ajay Sharma have been promoted to investment principal roles at JetBlue Technology Ventures.
Exits
Alibaba-backed online lending marketplace WeLab is seeking to raise up to $500m in an initial public offering on the Hong Kong Stock Exchange.
SenseTime seeks to schedule IPO
Qualcomm-backed SenseTime has begun exploring an initial public offering and will launch a US-based research and development centre as early as 2018.
The monoclonal antibody developer, which counts GV and EMBL Ventures among its investors, had initially raised $40m when it floated last week.
Casa casts eye over public markets
Liberty Global-backed broadband connectivity software provider Casa Systems has filed for a $150m IPO
SCPharmaceuticals gets cash injection from IPO
Sun Pharmaceutical and Lundbeck scored exits in an $89.6m initial public offering by the subcutaneous heart failure therapy developer.
Analysis: Tencent’s $14bn IPO exit streak
Five companies backed by internet company Tencent raised large amounts in their initial public offerings (IPOs) over the past few months. It appears to be a bout of IPO exits that may not ended yet.
Lyft records Kamcord acqu-ihire deal
Corporate-backed Kamcord is to sunset its livestreaming and social media apps as 12 members of its team join Lyft, having previously raised $35m.
Bluegogo is handing over its bicycle sharing operations to rival Biker, having halted rentals amid a growing consumer backlash.
Arsanis attains public market status with $40m IPO
The GV and EMBL Ventures-backed immunotherapy developer floated in an underpriced offering and received $20m in a private placement from NEA.
IT
Big Deal: AI is eating software but venture models are colliding
If it is shown that a different funding structure to just venture capital is helpful in AI then implications could cascade to other industries.
Pixvana picks corporates for $14m round
Microsoft Ventures, Cisco Investments and Hearst Ventures have contributed to Pixvana’s Vulcan Capital-led series B round.
Bloomberg Beta has reinvested in log management software developer Scalyr, having previously backed its 2015 seed round.
Nautilus sails to $26m series C
Keppel Data Centres provided $10m of the funding, investing alongside Ireland Strategic Investment Fund and Emerson Elemental.
NS8 plays nice to secure $7.5m
The Bloomberg-backed e-commerce fraud prevention software startup has raised money in an Arbor Ventures-led round.
CY, a developer of holographic technology for augmented and virtual reality devices, has raised series A funding from Vestel and Intel.
Health
Grail grows series B to $1.2bn
Illumina’s cancer diagnostics spinout, which is backed by a host of corporate investors, reached the $900m first close of the round in March.
Takeda strikes Chordia in series A round
Oncology drug developer Chordia Therapeutics has raised series A funding from backers including Takeda, from which it is licensing its preclinical drugs.
Portea carries $26m in series C round
Qualcomm Ventures has returned after previously contributing to in-home healthcare service Portea Medical’s series A and B rounds.
Sygnature takes Step to $17m series A
Step Pharma, a developer of treatments for autoimmune diseases, has completed its series A round after closing a second tranche.
Deepwise scans series A+ funding
Kinzon Capital has participated in a $17.3m round for medical imaging system developer Deepwise that was led by Danhua Capital.
Outpost marks series A round with $61m
The urologic and gastrointestinal disorder treatment developer has raised another $20m in its Novo and Takeda-backed series A round.
RDD Pharma rides series B round
RDD Pharma has secured $9.5m in a series B round that included Pharmascience, and will use the capital to fund clinical trials.
Media
Tech in Asia attracts Hanwha Investment
Tech in Asia has raised $6.6m in a Hanwha-led round that will fund research and development for its media, recruitment and events products.
Axios stacks up $20m in funding
The short-form media platform has tripled its total funding, raising cash from investors including NBCUniversal and WndrCo.
VidMob masses $7.5m in series A funds
The video creation marketplace will use the cash from the Stampede Ventures-backed round to expand its team across its four offices.
Consumer
Inagora inks $68m series D deal
Itochu, KDDI and SBI Holdings have all invested in the cross-border mobile commerce platform to increase its total funding to $109m.
Danone Manifesto Ventures has invested in bottled ocean water brand Kona Deep in its fifth deal since launching in September last year.
Deliveroo increases series F order to $482m
The Nokia-backed online food delivery app has added $98m to a round co-led by T. Rowe Price and Fidelity that values it at more than $2bn.
Financial
Blockstream has raised cash from DG Lab Fund I, the investment vehicle formed by Digital Garage and Daiwa Securities, taking its total funding to $80m.
AIB meets TransferMate in funding deal
AIB has invested approximately $35m in TransferMate as part of a strategic partnership, taking a stake of at least 10% in the process.
Xiaomi makes $1bn Indian corporate venturing call
The smartphone maker aims to invest in 100 India-based startups over the next five years as it seeks to build its mobile app ecosystem.
Energy and Natural Resources
An affiliate of USAA has contributed to a series A round that took water monitoring startup Flo Technologies’ total equity funding to more than $11m.
Telecoms
MyRepublic votes for series C investment
Makara Innovation Fund has put up $51.8m of the $111m that Sinar Mas and DST-backed internet service provider MyRepublic has targeted for the round.
Transport
HopSkipDrive embraces Student Transportation for new funding
Student Transportation has led a $7.4m round for HopSkipDrive, a ride sharing service that drives children to school or activities.
Lyft lines up $500m more in funding
The ride hailing platform would add the prospective capital to the $1bn series G round led by corporate investor CapitalG last month.
OnePark finds space for Keolis funding
Keolis has made a second investment in parking space provider OnePark, supplying $14.1m that will be used to improve user experience and fund expansion.
Mahindra to drive $50m round for Zoomcar
Car sharing platform Zoomcar is in talks with conglomerate Mahindra and Mahindra as well as two undisclosed investors over a round that will support growth.
Divergent 3D produces series B funding
The vehicle manufacturing technology developer has raised $65m+ in an Altran-backed round that could eventually close at $107m.
TuSimple clinches $55m series C
Returning backer Sina was among the investors in the autonomous trucking technology developer’s latest round, three months after its series B.
The limousine ride-sharing service has secured $106m in a series B+ round co-led by Baidu and Nio, following an $88m series B in July.
Services
Uhouzz opens its doors to $14m
The interational student housing services startup almost doubled its total funding in a series B round backed by New Oriental Education Group.
The Wing takes flight with $32m
WeWork led the female networking organisation’s series B round, closed in advance of the opening of two more of its branches.
Corporates buy into aCommerce’s $65m series B
DKSH and MDI Ventures backed an Emerald Media-led round that will support the e-commerce services provider’s international expansion plans.
The Knight Foundation provided $3m of the funding, as the Intel and Google-backed tech diversity initiative looks to expand into new areas.
Beijing Zmeng Network Technology has secured $27.1m in series B+ funding from investors including the Fosun-affiliated Kinzon Capital.
TaskEasy maintains progress with $22m
The on-demand maintenance services provider has raised series C funding from investors including Camber Creek and Delta Electronics Capital.