Corporate venturing deal net: 20-24 August 2018
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
Skala to let down ladder to startups
The Gree Ventures and Salim Group-backed accelerator partnership will pay $30,000 for a 5% stake in each of its Indonesian participants.
THG meets Techstars for Indianapolis accelerator
The Heritage Group will invest $120,000 in each of 10 materials science, environmental services and specialty chemicals startups through the scheme.
SBI AI and Blockchain Fund has secured corporate venturing unit Krungsri Finnovate as a limited partner as it seeks a $453m close.
MUFG demos third accelerator batch
Credit Engine won the top award while five other participants in MUFG Digital Accelerator were also showcased.
Latitude gets Sinar Mas assistance for $200m fund
Latitude Venture Partners, a growth-stage venture capital affiliate of Sinar Mas, has raised $200m for its inaugural fund.
Drone Fund seeks out $45m close
KDDI, Sega Sammy, Aucfan, Japan Asia Group, Leave a Nest and Nihon Unisys are all backing the fund on its way to a projected close next month.
SAP.io’s presents NY Foundry participants
The New York branch of SAP.io Foundries has showcased its first nine participants in a demo day.
Bumble Fund has secured $1m in capital commitments from its parent company and will invest up to $250,000 in female-founded startups.
People
Morales’ journey reaches Outlier
Rumi Morales, head of CME Group unit CME Ventures from 2013 to 2017, has joined blockchain-focused Outlier Ventures as a partner.
Leonard Lee, formerly global head of new business models and services for Airbus, has taken a partner position at Silk Ventures.
Dasgupta plugs into National Grid
Swati Dasgupta, a director at Siemens unit Next47, has taken the same role at another corporate investment arm, National Grid Ventures.
Tomoko Inoue, formerly senior manager at MedVenture Partners, joined corporate venturing unit Omron Ventures as chief executive earlier this year.
Visa invites Williams to strategic investment position
Otto Williams, formerly the corporate’s vice-president of innovation and strategic partnerships, will head strategic partnerships and ventures in the CEMEA region.
Boshier helps Yamaha venture to Australia
Yamaha Motor Ventures & Laboratory Silicon Valley has opened an Australian office which will be run by BCG alumnus Craig Boshier.
Exits
Eventbrite enters itself for $200m IPO
The Square-backed event ticketing management software provider has disclosed almost $360m in venture funding.
Roomi has acquired Dada Room, a graduate of Telefónica’s Wayra Mexico accelerator, for an undisclosed sum.
Ant Financial puts IPO on the back burner
Alibaba’s financial services affiliate closed a $14bn series C round two months ago but has significantly pushed back plans to float.
Alibaba allots substantial capital to Trendyol investment
Alibaba’s investment in Trendyol has been revealed to be a majority stake acquisition that valued the e-commerce marketplace at $750m.
Ascentage approaches Hong Kong IPO
Ascenta spinoff Ascentage Pharma, which also counts 3SBio and Unity Biotechnology as backers, has filed to float having raised about $235m in funding.
Farfetch takes chances with $100m IPO filing
JD.com and Advance Publications both hold stakes greater than 5% in the fashion e-commerce platform, which has raised more than $700m in funding.
Entasis seeks taste of public markets
The AstraZeneca antibacterial medicine spinout aims to raise $86.3m in an initial public offering that could also herald an exit for Novo.
Principia Biopharma primes $86m IPO
GlaxoSmithKline-backed Principia Biopharma has filed for an $86.3m initial public offering having raised $50m earlier this month.
Walmart finalises $16bn Flipkart investment
SoftBank and eBay are among the exiting investors in the e-commerce marketplace, while Tencent and Microsoft will retain stakes.
Qutoutiao brings forth news of $300m IPO
The Tencent and Xiaomi-backed news aggregation platform was founded two years ago but was reportedly valued at $1.6bn in March.
Cootek inputs $100m IPO filing
The mobile input technology developer plans to float in the US, two years after raising cash in an SIG-backed round.
I-Mab charts path to $500m IPO
Tasly-backed immunotherapy developer I-Mab Biopharma is reportedly eyeing a Hong Kong flotation having recently raised $220m in funding.
Kinnevik migrates $35m to Kolonial
Kinnevik bought a 15% stake in Rasmussen, Varner and Arctic-backed online grocer Kolonial in a primary and secondary transaction.
IT
Sitetracker locates corporates for $24m series B
Wells Fargo Strategic Capital and Salesforce Ventures joined existing backer NEA for a round that will help the asset management platform grow globally.
Nylas nails down series B funding
Slack was among the participants as the application communications technology developer raised $16.2m to more than double its overall funding to $30m.
USAA returns to Robin Systems in $17m round
Application management software provider Robin secured funding in a USAA Ventures-led series B round that took its total funding to $39m.
Mitsui-backed customer data platform Drawbridge has now raised a total of $70m, securing its latest funding from other existing investors.
Slack packs $427m into series H round
Dragoneer and General Atlantic co-led a round that valued the SoftBank, Comcast and Alphabet-backed communication platform at more than $7.1bn.
Health
Apogen ups series B round to $11m
M Ventures was among the investors that added $4m to a first tranche featuring Eli Lilly, WuXi AppTec, AbbVie Ventures and Johnson & Johnson Innovation – JJDC.
One Medical makes $350m appointment with Carlyle
Carlyle Group is investing up to $350m in healthcare provider One Medical through a primary and secondary share deal.
Ascension pushes Renovia to $32m series B
Renovia, a developer of technology to treat pelvic floor disorders, raised money in an Ascension Ventures-led round backed by OSF Ventures.
One Medical seeks $200m from consultation
The GV-backed care provider is in late-stage talks for a $200m investment by Carlyle Group alongside a $100m secondary share purchase.
Alibaba dispenses cash to Ensure Chain
Ali Health will buy a 14.5% stake in retailer Guizhou Ensure Chain Pharmacy for $61.3m and has the option to increase it to 25%.
Media
BitStar aligns for series C funding
Asahi Broadcasting, Colopl, WFLE, Asahi Shimbun and Nagoya Broadcasting Network helped provide $11.7m for the influencer marketing platform.
Seengene seeks out Legend Star in series A
Legend Holdings unit Legend Star participated in a $17.5m round for the augmented reality startup, which is targeting $50m in its next round.
Consumer
Legend Capital goes Gaga in $26m series A
Legend Capital has led a series A round for teahouse chain Gaga Cafe, which also attracted an unnamed industrial investor.
Boxed packs $111m into latest round
Aeon led the round, which valued wholesale mobile commerce platform Boxed at $470m, taking its funding past the $240m mark.
Xiaomi helps Tongshifu craft series B round
The copper goods producer has secured more than $45m in a round that included Xiaomi Ventures, reportedly as an existing investor.
Financial
CreditEase accesses Upgrade in $62m series C
The corporate’s strategic investment fund led a round that valued the consumer credit platform at $500m, taking its total funding to $142m.
KoinWorks mints series A round
Bank Mandiri and fellow corporate Gunung Sewu both took part in a $15.8m series A round for online lending platform KoinWorks.
Rakuten catches Black Fish in $50m round
Rakuten Ventures has co-led a $50m series A-plus round for e-commerce company Black Fish that also featured a Fullshare Group subsidiary.
Sirius takes a piece of Pie in $11m round
Business insurance startup Pie Insurance has now raised a total of $16m, having received series A funding from backers including Sirius Group.
Transport
Carmera, an autonomous vehicle mapping technology provider, has received funding in a series B round led by GV that will support global expansion.
CassTime tunes up with more series B cash
Fosun RZ Capital returned to back a $36.4m series B3 round for car services provider CassTime Technologies, bringing its total series B funding to $95m.
Hyundai drives Revv to series B
On-demand car rental service Revv has secured $14.3m in a round led by carmaker and new strategic partner Hyundai.
Getaround zooms to $300m series D
The SoftBank-led round included strategic partner Toyota and will fund the geographic expansion of the car sharing platform.
SoftWheel turns to Musashi Seimitsu in $25m round
Musashi Seimitsu invested $6m as part of a Rothschild Bank-led series C round that reportedly valued SoftWheel at almost $140m.
Services
Alibaba and SoftBank christen new vehicle with $3bn
Alibaba spinoff Koubei has joined forced with the corporate’s newly acquired Ele.me, with more than $3bn from Alibaba and SoftBank.
Latch admits corporates to $70m series B
Property developers Tishman Speyer and Camber Creek took part in a Brookfield Ventures-led round that boosted the security system developer’s total funding to $96m.
Homelike welcomes Lürssen to $14m round
The business accommodation supplier raised money in a round backed by shipbuilder Lürssen that will fund hiring, growth and product development.