Weekly corporate venturing deal net 10 – 14 October 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
Oil India joins Indian fund rush
The state-owned oil and gas company has launched a $7.5m investment vehicle, while IndianOil is putting $4.5m into its own unit.
Startups to get a chance in Helsinn
Cancer care group Helsinn has put $50m into a corporate venturing unit called Helsinn Investment Fund that will target early-stage companies.
Baidu has set up a new unit to invest in mid to late-stage startups, following a range of initiatives last month including the $200m Baidu Venture corporate venturing division.
Singtel harmonises with startups
Singtel has revealed the seven startups to take part in its Future Makers incubator following a pitch competition between 12 finalists.
SoftBank and Saudi Arabia to partner for $100bn fund
SoftBank is committing $25bn to its SoftBank Vision Fund, with up to $45bn to come from Saudi Arabia’s sovereign wealth fund and up to $30bn from additional backers.
People
Primack seeks new fortune with VandeHei
Dan Primack, known for his Term Sheet column published by Fortune, is joining an as-yet unnamed media startup by Jim VandeHei, backed by NBC.
Exits
Crispr Therapeutics, a gene editing drug developer backed by Bayer, Vertex, Celgene and GlaxoSmithKline, has set the terms for an offering on Nasdaq.
Bloom Energy to sprout in public markets
E.ON-backed fuel cell system producer Bloom Energy has reportedly filed for an initial public offering, one likely to value it at less than its previous $2.9bn valuation.
Everspin revolves to $40m initial public offering
Shareholders in the semiconductor memory technology provider include Western Digital and GlobalFoundries, while GigaDevice Semiconductor is investing $5m.
Wimdu and 9Flats to move in together
Deutsche Telekom-backed 9Flats and Rocket Internet-backed Wimdu are set to merge and will form an online accommodation platform with an estimated 500,000 listings.
Novo to exit iRhythm in forthcoming IPO
The advanced electrocardiogram developer has set the range for an initial public offering sized at up to $91m, with Novo, Kaiser Permanente and St. Jude set to exit.
Google honours FameBit with acquisition
DeNA exited online video monetisation platform FameBit in an acquisition by Google, which bought the company for an undisclosed amount.
IT
UK-based internet-of-things technology startups Callsign, RazorSecure, Iotic Labs and Senseye have become the latest to secure funding from Reply’s advanced incubator.
Cassia routes $10m to series B
SumaVision was among the backers of a $10.3m series B round for Cassia Networks, which has created a Bluetooth router.
VenueNext enters series B arena
Twitter, Live Nation and Aruba-based VenueNext has added $15m to its coffers in a series B round led by Causeway Media Partners in order to expand into new verticals.
Blue Medora colours in series B round
VMware made its second investment in the database and cloud monitoring platform developer, taking its total funding to $14.5m.
GV and Cisco Investments have come aboard as investors, helping the smart-device wireless network close its second funding round in four months.
Health
Helsinn finds OncoResponse in $19.5m series A
The immuno-oncology antibody developer added $7m from Helsinn and GreatPoint to a round already containing Baxalta, MD Anderson and Alexandria Real Estate Equities.
Zymergen zips to $130m series B
SoftBank led the microbe engineering technology company’s latest round, bringing its overall funding to $174m in less than 18 months.
Evidation proves series B success
The big data digital health company has received $15m from investors including GE Ventures, which launched Evidation last year in partnership with Stanford Health Care.
Axial Healthcare spins $16.5m series B
BlueCross BlueShield Venture Partners returned to reinvest in the pain and medication management software provider, which has now raised more than $26m in total.
Home care optimisation company Contessa Health has raised new funding from a consortium including Marshfield Clinic Health System and BlueCross BlueShield Venture Partners.
The amount marks the first close of a larger round for the Mynavi-backed online advertising platform, though the target size has not yet been revealed.
Iora Health flourishes with $75m
GE Ventures, which backed Iora Health’s $28m series C round last year, has returned for a Temasek-led series D that took the company’s total funding to more than $120m.
Media
StreetTeam rallies investors for $10m
StreetTeam, which lets brands recruit users to advertise their products, has added Universal Music Group and Saatchi to its shareholders.
ProSiebenSat.1 has led a series B round that included Scripps Networks Interactive and existing backer Sky, and which valued the online TV service at $143m.
Group Nine Media gets $100m Discovery investment
Discovery Communications has made a strategic investment in digital media holding company Group Nine, formed by NowThis, Thrillist, The Dodo and Seeker.
Consumer
Existing backer Ping An participated in a series A+ round that will enable the imported food supplier to expand its product range and supply chain capabilities.
The upscale bedding provider took its total funding to more than $22m with $18.3m in series B funding from investors including Channel 4’s Commercial Growth Fund.
The bicycle sharing platform raised the funding in a round that included an eight-figure investment by Didi Chuxing and reportedly a contribution from Xiaomi.
Tyson fights for Beyond Meat stake
Tyson Foods has picked up a 5% stake in vegan food producer Beyond Meat, which reportedly received $17m from investors including General Mills last year.
Financial
Banks reach Cloud9 in $30m round
JPMorgan Chase, Icap and Barclays have taken part in a $30m funding for Cloud9 Technologies, a cloud-based communication platform targeting the financial sector.
Energy and Natural Resources
Geostellar to go higher with $7m
The NRG and GeoEye-backed solar energy marketplace will use the funding to expand its recently launched community solar training scheme.
Industrial
Saudi Aramco gets Airborne stake
The company’s corporate venturing unit contributed almost half of the $25.5m in series C funding raised by Airborne Oil and Gas, which is also backed by Shell, Chevron and Evonik.
Globachem joined the biofungicide developer’s investor base in a series B round that included several of the company’s series A investors.
Transport
Snapp, a ride ordering service launched by Iran Internet Group, has received $22.3m from telecom firm MTN and will invest in geographic expansion and new services.
Keolis and Valeo have contributed to a funding round for Navya, as the driverless car technology developer prepares to expand across the US, Europe and the Gulf region.
Nvidia catches Optimus Ride for $5.3m seed round
NextView Ventures and FirstMark Capital have co-led a Nvidia-backed seed round for stealthy autonomous driving technology startup Optimus Ride.
Uber sinks $30m into funding Xchange
Xchange Leasing India, a vehicle leasing spinout of Uber, has received $30m from its parent company, taking its 2016 funding to $36m.
Hyperloop One ties up $50m DP World investment
Hyperloop One, already backed by GE and SNCF, has now secured a total of $160m, with the latest cash injection in the form of a convertible note.
Dalian Wanda helps park $230m in ETCP
Smart parking app developer ETCP has followed a $50m BitAuto-backed series A round with a huge series B led by Wanda subsidiary and strategic partner Ffan.
Services
MassMutual Ventures helps fuel Building Engines
The property management platform has received $26.5m in a growth equity round backed by insurer Massachusetts Mutual Life Insurance’s corporate venturing arm.
5Lmeet electrifies $60m series A
Jinyun Electrical has co-led a series A round for 5Lmeet, which hopes to operate co-working, co-living and other sharing spaces.
WeWork pushes series F round to $690m
Hotel chain Jin Jiang was among the investors that added $260m to the $430m raised by the workspace provider, now valued at $16.9bn, in March.
Telecoms
Ranzure picks up $13m series A
Mitel has co-led a series A round for Ranzure Networks, which will also license certain technologies from the corporate.