Corporate venturing deal net: 2-6 July 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
Sunway beats $50m path to corporate venturing
The conglomerate has formed a fund called Sun Sea Capital to make early-stage investments in Southeast Asian technology developers.
PSL places corporates in tech fund
BNP Paribas, Naval Group, MGEN, KPN and Clarins will all contribute to a targeted $87.5m close for PSL Innovation Fund.
Telstra and HarbourVest ring in $500m fund
Corporate venturing unit Telstra Ventures has transferred its assets into a partnership with HarbourVest reportedly sized at $500m.
Exits
IndiaMart to infiltrate public markets
Intel Capital will sell shares in an initial public offering in which e-commerce marketplace IndiaMart is expected to raise up to $88m.
Liquidia looks to fill up with IPO funding
PPD and Siemens-backed biopharmaeutical developer Liquidia Technologies has filed to raise up to $57.5m in its initial public offering.
Uber and Careem explore merger deal
The ride hailing platforms have begun talks over a deal that could involve Uber buying Careem or merging the company with its local business.
Neuronetics magnifies IPO to $107m
The Pfizer and GE-backed medical device developer has closed its initial public offering after the underwriters took up the over-allotment option.
Hujiang to graduate to public markets
The online education platform, which counts Baidu and Wanxin as investors, plans to float in Hong Kong.
BP fuels BMW exit with Chargemaster acquisition
BMW i Ventures is set to exit EV charger developer Chargemaster in a purchase of undisclosed size by BP.
Pinduoduo pursues billion-dollar IPO
The Tencent-backed group buying platform has filed to list in the US having raised almost $2.4bn in funding over the past year.
Forty Seven fetches $112m in IPO
The GV-backed cancer drug developer floated at the top of its range in an offering that could reach $129m.
IT
Google fuels KaiOS with $22m investment
KaiOS Technologies, the developer of a low-memory mobile operating system, has received $22m from new strategic partner Google.
XL Innovate goes Windward in series C round
Marine data provider Windward has now raised almost $39m, having secured $16.5m in a round led by XL Catlin’s corporate venturing unit.
The digital marketing software provider, which counts Adverline as an existing investor, quadrupled its total funding in a Ring Capital and XAnge-backed round.
Citrix identifies Veridium as series B target
The biometric authentication technology developer has closed a $16.5m round featuring Citrix that will fund product development, sales and marketing.
ThetaRay threads $30m of new funding
The financial security technology developer doubled its total funding to $60m with a round featuring long-term backer General Electric.
Corporates help Savioke secure series B cash
The $13.4m round took the delivery robot developer’s total funding to $31m and featured Swisslog Healthcare, Brain Corp, Recruit and NEC.
Abeja attracts corporates for series C round
Nvidia, Topcon, Daikin, Musashi Seimitsu Industry and Japan Post Capital all contributed to the $38.3m round as new investors.
Dell monitors Jask in $25m series B
Dell Technologies Capital has returned to invest in the cybersecurity technology developer after co-leading its series A round last June.
Cordial sends out $15m message
The email platform developer, a graduate of R/GA’s Connected Commerce Accelerator, has closed a series B round led by PeakSpan.
The risk management technology provider has closed a Singtel Innov8-backed round that increased its total funding to $155m.
DC Thompson makes Trax in $125m round
Retail data analytics provider Trax increased its overall funding to $235m in a DC Thompson-backed round that valued it at almost $1bn.
Intel pounces on Preempt in series B round
Cybersecurity software developer Preempt raised $17.5m in a round backed by Intel Capital, taking its funding to $27.5m altogether.
Balbix bills Singtel to raise $20m
Singtel Innov8 co-led the cybersecurity software developer’s series B round with Abu Dhabi’s Mubadala Investment Company.
Codefresh cracks series B with $8m
Microsoft’s M12 unit led software delivery platform’s Codefresh’s latest round, which included CreditEase’s Israel Innovation Fund.
JD.com has provided about $15m in funding for cloud services provider BoCloud through its JCloud and JD Finance subsidiaries.
The business management platform, which had raised $700m from investors including Salesforce and WPP, floated near the top of its range.
The AI retail inventory tracking platform has closed a series A round that included telecoms and retail group Sonae’s corporate venturing unit.
The software automation platform has now raised $127m in funding in total, raising cash in a Cisco Investments-led round that included VMware.
Noodle.ai threads its way to $35m
The enterprise AI software startup increased its overall funding to $51m in a Dell Technologies Capital-led series B round.
Catalog sells investors on $9m
Line has backed Catalog Technologies’ DNA-based approach to data storage to take the startup’s total funding to $14m.
Health
NBE invites corporates to double its series B
Novo and returning investor Boehringer Ingelheim both contributed to the second tranche of a round that is now just over $40m in size.
Corporates get in Bind for $70m round
Health insurance platform Bind has raised funding from a consortium featuring strategic partner UnitedHealthcare and Ascension Ventures.
Philips to help fill American Well with cash
Telehealth platform American Well has raised $291m of a planned $315m round, the investors including strategic partner Philips.
I-Mab imports $220m in series C round
Tasly Pharmaceuticals contributed to a series C round for the immunotherapy developer, a year after backing its $150m series B.
Inthera binds funding to series A round
The cancer therapy developer has closed an $11.1m series A round featuring M Ventures and seed-stage backer Novo Seeds.
The SoftBank-backed genetic liquid biopsy technology developer has raised a nine-figure renminbi amount in a Shenzhen Capital-led round.
Media
Existing corporate backers AMC Networks, Discovery and Viacom have returned for a series C round that will fund marketing and product development.
The social discovery platform has closed a series C round co-led by Atresmedia and Labtech that took its total funding to more than $43m.
High Fidelity amplifies funding with $35m
The GV-backed virtual reality development platform has now raised more than $70m in total, after closing a Galaxy Digital Ventures-led series D round.
Gumi-backed mobile game developer Oh BiBi has now raised more than $25m altogether, as it prepares to launch its next title.
Signal attracts GMG for $16m series B
The media tracking platform received the funding in a GMG Ventures-led round backed by fellow corporate venturing units Hearst Ventures and REV.
Consumer
Califia Farms harvests $50m in funding
Sun Pacific spinoff Califia will use the proceeds from the round, which included its parent company, to expand its plant-based drink product range.
Comcast goes Away again in $50m round
Luggage brand Away took its funding to $81m inside two years, raising $50m from existing investors including Comcast Ventures.
Aikucun stocks up with series B funding
Legend Capital led an $87.5m round for Aikucun, which helps fashion brands offload excess inventory to online retailers.
Macy’s led retail space provider B8ta’s series B round, which also featured property developer CapitaLand, taking its total equity funding to $30m.
The home products producer will use the proceeds from the Grace Beauty Capital-backed series C round to expand its range and open more stores.
Financial
Furongbao fulfills series B pursuit with $120m
The undisclosed controlling shareholder of appliance maker Wanjiale has supplied SoftBank-backed business lending platform Furongbao with funding.
ETechAces emits more funding details
A stock exchange filing has revealed Info Edge and Temasek have invested $27.7m in the company, perhaps as part of its recent series F round.
Bought By Many sells CommerzVentures on series B
The specialist insurance network has received $19.8m in a CommerzVentures-led round backed by Marsh and Munich Re/HSB Ventures.
Airwallex accesses corporates for $80m
Existing investor Tencent and BCA’s Central Capital Ventura unit took part in a series B round that will fund international growth.
Liberty Mutual takes Rein stake
Liberty Mutual Strategic Ventures has led a $7.3m round for insurance risk technology provider Rein, which released a drone insurance product last month.
Energy and Natural Resources
Tokyo Electric powers up new unit
Tepco Ventures will take the place of the power producer’s New Business Task Force and will focus on incubating new companies.
BrightFarms reaps $55m in series D cash
The Tengelmann-backed urban farming company took its overall funding to $111m in a series D round led by Cox Enterprises.
Transport
Trucking services platform Manbang Group put up the series A cash as part of a strategic partnership with the automotive services provider.
Dentsu Ventures, BCC and Amazon are reportedly set to be among the investors in a round that will add to the company’s 2015 series A.
Services
Investors gather around Campfire in $18m round
Kwai Hung Group led a series A round for the shared space provider that was also backed by Sa Sa International, and which will fund growth.
Haifeng hits up TAL Education for cash
The education provider has co-led a series C-plus round for tutoring platform Hafeng that took its funding for the last two rounds to more than $100m.