Weekly corporate venturing deal net 30 November – 4 December 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
Singtel incubator aims to drive change
Six social impact startups have completed the Singapore Telecommunications-backed Enabling Change incubator program, with SingTel investing $7,000 in each.
Autodesk to Forge startups with $100m fund
The design software provider will invest in early-stage companies developing technology compatible with its Forge cloud design services platform.
WeChat reveals $3.5m seed fund
The fund, set up by Tencent and Naspers’ joint instant messaging venture, WeChat South Africa, will invest in Africa-based mobile startups.
Stradigi digs incubator out of stealth
Digital development business Stradigi’s incubator, Stradigi Ventures, is seeking out startups operating in the media and technology spaces.
Exits
Legend to list corporate venturing unit on NEEQ
Conglomerate Legend Holdings has applied to list Legend Capital, which has $1.7bn under management, on China’s NEEQ market.
IT
ThreatConnect detects SAP for $16m series B
SAP has led a series B round for ThreatConnect as the two prepare to jointly develop a version of the company’s cyber threat detection software for SAP”s database product.
MoMagic waves funding wand to attract Foxconn
Foxconn subsidiary FIH Mobile has invested in MoMagic as part of a quest to increase the firm’s market share in India.
Sensoro will use the funding, provided by backers including Nokia and New World Development, to support research into its internet of things sensor technology.
Avalanche slides into $25m series E
The company has secured $25.3m for the round so far, the first capital it has raised since its $35m Qualcomm and Rogers Communications-backed series D in 2013.
Figma interfaces with O’Reilly for $14m
O’Reilly Alphatech Ventures has backed a series A round for the browser-based design software developer, which has now raised $18m altogether.
Health
HBI goes to the Wonders for series A
HBI Solutions will fund the growth of its healthcare analytics technology business with $12.6m of series A funding, while investor Wonders Information helps it enter China.
Eli Lilly, which led the round’s first close in January, has also led a $25m extension that boosted the total raised in the Mitsui-backed series A round to $40m.
Clearside Biomedical edges to $20m
Santen Pharmaceuticals-backed Clearside, which has raised $48m altogether, is developing a range of treatments for blinding eye diseases.
Ascletis expands series B to $55m
Goldman Sachs has contributed a $20m extension to a Tasly Pharmaceuticals-backed round that achieved a first close at $35m in September.
Patient management platform Evariant raises $42m
Salesforce-backed Evariant has raised almost $70m in total and will use the Goldman Sachs-led series C round to drive recruitment.
True North navigates its way to $40m
GlaxoSmithKline and Baxalta’s corporate venturing arms have backed True North’s series C round, which will support clinical development of rare disease treatments.
Boston Scientific helps NxThera nab $40m
NxThera, also backed by Mitsui and American Medical Systems, aims to use water vapour-based treatments to fight prostate and kidney cancer.
Welltok prescribes $45m series E
Corporate-backed Welltok has boosted its total funding to approximately $128m, also acquiring marketing platform Silverlink Communications.
Media
Melty keeps its cool with $11.2m
Youth-focused media provider Melty raised the cash from investors including AccorHotels and existing backer Bouygues Telecom.
Allocadia succesfully campaigns for $16.5m series B
Susquehanna International Group has led an investment for Allocadia, increasing the marketing management platform’s total funding to $24.5m.
Baobab to grow higher with $6m series A
The virtual reality animation content and technology developer has received $6m from a consortium of investors including Comcast, Samsung, HTC and Chernin.
Warner Brothers makes Uninterrupted investment
The media group has invested $15.8m in the LeBron James-helmed sporting video content startup as part of a strategic partnership agreement.
Consumer
Corporates feed Okan with extra funding
Subsidiaries of Yahoo Japan, CyberAgent, Sumitomo Mitsubishi Banking Corporation and Mizuho Bank all contributed to a second round of funding for the food delivery service.
Investors join Burpple at the series A table
Singapore Press Holdings has contributed to Burpple’s $6m series A round, the restaurant recommendation app provider’s first since 2012.
EatFirst orders up $8m investment
Rocket Internet, DMGT and Holtzbrinck Ventures have backed an $8m series A round for the food delivery service, which aims to expand from London and Berlin next year.
1Mxian concocts $15m pre-series B
The grocery delivery startup has secured funding from Beijing Kunlun Technology, which develops and publishes online games.
Peloton reaches next stage of funding cycle
The on-demand fitness company, reportedly backed by Grace Beauty at series A stage, has raised $120m in total, after securing $75m from private equity firm Catterton.
Financial
Small-scale financial services provider Bee raised the cash from backers including AXA Strategic Ventures, a subsidiary of insurance firm AXA.
Industrial
GE and Autodesk print $6m for Optomec
3D printer developer Optomec secured $6m in a series B round backed by GE and Autodesk, the latter of which took part through its Spark Investment Fund.
Transport
Atzuche, a car sharing platform with a reputed one million members, has completed a series B round backed by Hearst Media and China Pacific Insurance.
Uber chases $2.1bn at $65bn valuation
The corporate-backed ride hailing company has reportedly already recruited T.Rowe Price and Tiger Global for a round that would take its overall funding above the $10bn mark.
Services
QikPod, which plans to set up a system of delivery storage lockers around India, secured the cash from backers including Delhivery, Flipkart and Foxconn.
Quikr upgrades CommonFloor acquisition to $200m
Quikr’s acquisition of Alphabet-backed realty marketplace CommonFloor, originally reported as a $160m cash and stock deal, is now said to be a $200m equity swap.
Coconala shows skills to raise $4.4m
Sumitomo Mitsui Financial Group, Nippon Life and Voyage Group have joined the skills marketplace’s investor base, which also includes Opt and Adways.
Times Internet pays cash to Get Me a Shop
Get Me a Shop, a graduate of Times Internet’s incubator initiative, has now been acquired by the internet services provider for an undisclosed amount.