Big Deal: FanDuel and DraftKings to join the same team
The daily fantasy sports companies, backed by several media groups, professional sports leagues and teams, are set to merge.
Corporate venturing deal net: 21-25 November 2016
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
Astex fills prescription for Dementia Discovery Fund
The UK-based pharmaceuticals company joins an investor group that includes Biogen, GlaxoSmithKline, Johnson & Johnson, Lilly, Pfizer and Takeda.
Deloitte deploys Israeli innovation hub
The accountancy and consulting firm’s Innovation Tech Terminal in Tel Aviv will help its global clients connect with Israeli-based startups.
Idinvest Partners raises $265m for new fund
A spokesperson told GCV investors in the corporate-partnered firm’s Idinvest Growth Fund II, expected to close at up to $424m next year, include existing backers.
Airbus fuels lift off for UK space fund
Seraphim Capital has secured $62m from investors including Airbus on its way to a $99m final close for the world’s first space technology-focused venture capital fund.
Draper Nexus attracts Japanese corporates for $175m fund
Panasonic, Hitachi, Shimizu, NEC, Canon and Kyocera are among 20 limited partners in the venture firm’s $175 second fund, which has just closed.
Williams raises green flag on $25m fund
Foresight Williams Technology EIS Fund, formed by Formula One team Williams Grand Prix Engineering and Foresight Group, plans to invest up to $2.5m in at least 10 companies.
HTC and Shenzhen launch world’s largest VR fund
HTC, manufacturer of the Vive virtual reality headset, has partnered Shenzhen Municipal Government for the Shenzhen VR Investment Fund and is targeting a $1.45bn fundraise.
Manulife magnifies IVP fundraising to $79m
Fintech-focused VC firm Information Venture Partners, which spun out of Royal Bank of Canada, surpassed its initial fundraising target to close its second fund at C$106m ($79m).
Accenture sounds out Partech fund investments
The consulting firm has provided capital for two early-stage funds managed by France-based venture firm Partech Ventures.
The China-based mobile technology provider plans to launch an incubator in India, following its establishment of a strategic venture fund there in late 2015.
Sodexo to feed startups with $53m fund
The catering and facilities management company has launched a corporate venturing unit, Sodexo Ventures, and invested in restaurant engagement platform Wynd.
People
Wu becomes Baidu Capital’s first managing partner
Wenjie Wu has left Ctrip for Baidu’s $3bn corporate venturing fund, where she will also head up a travel-themed fund partnership between the two companies.
Before joining Allianz last month, Borchers founded and headed Germany-based phone operator Deutsche Telekom‘s incubator Hub:raum.
Exits
Yum China considers eating up Daojia for $200m
The fast food operator could beef up its food provision by acquiring the online food delivery app developer in a deal that would allow JD.com to exit.
Conglomerate Piramal has invested $73m in the solar energy developer, part of which will go to buying out power producers and investors EDF and Eren.
Beijing Shengtong takes RoboRobo Education for $62m
The China-based educational robot builder was sold to Beijing Shengtong, providing an exit for private education services provider New Oriental.
All Digital has some AcFun after $36m investment
AcFun investors Youku Tudou and SoftBank China Venture Capital are selling $36m of shares to online content publisher Chinese All Digital Publishing Group.
Ctrip beams up Skyscanner in $1.74bn deal
Yahoo Japan will exit travel search platform Skyscanner less than a year after taking part in a $192m round that reportedly valued it at $1.6bn.
Climate Corp harvests VitalFields
The agriculture analytics business has acquired VitalFields for an undisclosed sum, giving an exit to sister unit Monsanto Growth Ventures.
DPS consumes Bai Brands in $1.7bn deal
Dr Pepper Snapple Group has acquired antioxidant-infused drink producer Bai Brands, just over 18 months after it paid $15m for a 3% stake in the company.
IT
Ximu Credit nets $15m series A
Existing investor Fosun Kinzon Capital returned to reinvest in the personal credit rating provider as part of a round that will support research and development.
Foxconn logs into Megvii with $20m investment
Foxconn’s computer accessories manufacturing unit acquired a stake of 3% in the image recognition software developer, which powers facial logins.
Alibaba and Tencent go Barefoot
Barefoot Networks has received $23m from investors including Alibaba and Tencent to take its Google-backed series C round to $80m and its total funding to $130m.
Cogito thinks big with $15m series B
Emotional intelligence technology developer Cogito secured a re-up from Salesforce Ventures just one year after it closed a $5.5m series A backed by the unit.
Total, Salesforce and Tamer Group were among the new investors joining existing backers like Intel and Air Liquide as Sigfox prepares to grow its network to 60 countries.
Existing investor Bloomberg Beta came back to invest in the data science platform developer, after contributing to a $3m round last year.
O’Reilly seeks out Particle in $10.4m round
The corporate’s O’Reilly AlphaTech Ventures subsidiary returned to reinvest in internet-of-things platform developer Particle, after committing to its 2014 round.
AllMobilize amasses $15m in series B+ round
Cloud computing technology developer AllMobilize had raised $10m in a June 2015 series B round that featured IDG Capital Partners.
Invincea shows X factor in $10m round
Dell Ventures returned to back Invincea, developer of an anti-malware product called X by Invincea, having co-led its $16m series C round.
Health
The monoclonal antibody developer took its total funding to about $220m since 2010 in a round that included Shenzhen Hepalink and Malin Corporation.
Transcriptic gets A-1 result with $13.4m
WuXi AppTec was among the investors in a series A-1 round that increased the GV-backed life sciences researcher’s total funding to $27m.
Inspire Medical closes off $37.5m series F
Existing investors Medtronic and Johnson & Johnson were reportedly among 10 backers in the sleep apnea therapy developer’s latest round.
The diagnostics technology developer has added a $36m investment co-led by Khosla Ventures and Redmile Group to a $44m BioMed Realty-backed round closed last year.
Micell Technologies sucks up new funding
The coronary stent technology developer, backed by GE and St Jude Medical, has raised $25.8m in a round expected to close at $30m.
Seventh Sense taps corporates for $10m
Existing backers Novartis and LabCorp came back for blood collection system developer Seventh Sense Biosystems’ series C round having previously invested in 2014.
Ascension Health was among the investors to return for Apama’s $13m series C round, closed with $6.5m in debt financing from Silicon Valley Bank.
Glycomine digs into $12m series A
Pharmaceutical company Chiesi Group’s strategic investment unit has become an investor in Glycomine, which develops replacement therapies for rare diseases.
Media
Magilm rolls with $29m series D
Huayi Brothers led the round and will help Magilm grow its film, television and animation production capabilities as well as its marketing and distribution services.
Weibo reportedly provided $120m of the funding for the livestreaming and short-form video app developer, having contributed to its $200m round a year ago.
Buzzfeed’s confirms $200m NBCUniversal investment
Buzzfeed has raised $200m from strategic partner NBCUniversal at the same $1.5bn valuation as the $200m it supplied in August last year.
Consumer
The AOL-backed wedding registry platform has raised more than $40m to date after sealing a round led by Lightspeed Venture Partners at a $225m post-money valuation.
Financial
Wynd carries corporate support to $31.8m series B
The newly formed Sodexo Ventures joined existing backer Orange Digital Ventures to help the point-of-sale software developer expand internationally.
Tencent joins in $217m HeTai Life Insurance venture
Tencent and seven other investors are providing the money as online insurance platform HeTai prepares to launch in 2017.
Mandiri Capital to mobilise startups with $15m
The corporate venturing arm of state-owned lender PT Bank Mandiri aims to invest the money in between four and eight fintech startups in 2017.
JBH cashes $200m in series A funding
JBH Jubao Interconnection Technology, the financial services arm of conglomerate HNA, has received $200m in funding in a round led by RRJ Capital.
Transport
HuoCheBang makes noise with $20m from IFC
The Tencent-backed trucking logistics app developer secured funding from International Finance Corporation after raising $35m last year.
Tiantianpaiche speeds off with $100m
The online vehicle auction platform secured series C funding from corporate investors SoftBank, SIG, Tencent and Bitauto as it looks to expand its product offering.
Services
Helpshift harnesses Cisco to lift series B to $25m
Cisco Investments has added to the $23m in series B funding the customer support technology provider raised from backers including Microsoft, Salesforce and Intel in June.