AAA News roundup 18 July 2016

News roundup 18 July 2016

Weekly corporate venturing deal net 11 – 15 July 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

IDG Capital captures $1bn for its latest fund

The China-based, corporate affiliated firm closed IDG Capital Fund III in partnership with US venture firm Breyer Capital and follows a $586m fund two years ago.

Mavcap seeks corporates to help form three new funds

The Malaysian government-owned venture firm plans to raise $250m for three new technology funds and will look to collaborate with local and international corporates.

Kyron targets $3m for bridge fund

ANSR Consulting’s Kyron accelerator plans to raise the cash by September in order to invest in startups between angel and series A stage.

Disney Accelerator draws up 2016 cohort

Disney Accelerator has selected nine startups, including several Disney portfolio companies, and one internal project to participate in this year’s program.

DCM cashes $500m for corporate-backed fund

Baidu, Tencent, Naver, Gree, SoftBank and Qualcomm all contributed to the US venture firm’s eighth flagship fund, the third fund it has raised in the past 18 months.

Panasonic joins Creww to launch accelerator

The electronics producer will seek startups developing technology that can be used for home appliances, work and more advanced equipment, for a Japan-based accelerator.

 

Exits

Yandex exits SalesPredict in eBay acquisition

Big data-equipped retail analysis technology developer SalesPredict will be absorbed into eBay in a deal that will allow series A investor Yandex to exit.

Line walks to $1.14bn IPO

Naver has successfully spun out its Japan-based messaging app subsidiary Line, pricing its shares at the top of their range in a US and Japan flotation.

Yatra to go public in reverse merger

The India-based online travel booking platform, which had raised $125m from backers including Intel, IDG and Network18, will merge with a US-based special purpose vehicle.

Protagonist to perform flotation in $75m IPO

Corporates Johnson & Johnson, Eli Lilly and Pharmstandard jointly hold more than 45% of the IBD drug developer, which has raised $67m since 2006.

 

IT

Russian startup VisionLabs raises $5.5m from Sistema VC

Sistema’s corporate venturing fund has paid $5.5m for a 25% stake in the facial recognition, data and robotics technology developer.

Appthority extends series B dominion to $17m

Mobile cybersecurity software developer Appthority has welcomed back Blue Coat Systems for a $7m series B extension to the $10m tranche it raised in late 2015.

Bay Dynamics shores up funding with $23m

The series B round featured corporate venturing unit Comcast Ventures, which led the cybersecurity software provider’s $8m in series A funding in 2014.

Intel helps True Fit tailor $25m series B

Intel Capital took part in a funding round for True Fit, 18 months after the retail software developer attracted $15m from investors including Novel Group.

Flashpoint triggers $10m series B

Cisco and Bloomberg were among the returning investors that tripled business intelligence supplier Flashpoint’s overall funding.

RedKix cashes $17m of green

The workplace collaboration platform, which fits on top of email, has launched in closed beta and raised $17m from backers including Salesforce Ventures.

Cheetah Mobile proves key as Kika Tech raises $33m

Cheetah Mobile has co-led a series B extension for smartphone keyboard app developer Kika Tech, adding to a $30.6m first tranche closed in February.

 

Health

CryoTherapeutics stores $5.7m

High-Tech Gründerfonds has supported a series B round for heart disease therapy developer CryoTherapeutics, following its participation in a $9.1m series A in 2014.

Sapience evolves to series A stage with $22.5m

Celgene has backed a funding round for oncology treatment developer Sapience Therapeutics that also included corporate-backed technology advisory firm TaiAn Technologies.

Augmenix organises $6m series E

The oncology radiation gel developer, backed by Varian Medical Systems and Ascension Health in the past, secured the funding from existing investors.

Second Genome absorbs SR One funding to reach $51m

GlaxoSmithKline’s corporate venturing unit invested $8.4m to strengthen a series B round already including Pfizer, Roche and Mayo Clinic.

China Bridge provides funding route for iCarbonX

Tencent-backed healthcare data technology developer iCarbonX has followed a $154m series A round in April with $45m from China Bridge Capital.

Endotronix records $32m series C

OSF Healthcare’s investment arm and an unnamed corporate backer both contributed to the heart patient monitor developer’s latest round.

Caremerge coordinates $14m

GE Ventures and Cambia Health Solutions returned to participate in another deal for care coordination platform Caremerge, after backing a $4m round last year.

 

Media

Juzi Entertainment puts on $10m show

Qihoo 360 Technology has backed a $10m series B+ round for the media content producer that adds to an earlier $15m series B round in January.

 

Consumer

Voonik fashions $20m series B round

Fashion e-commerce company Voonik Technologies has secured $20m in a round featuring Times Internet and Beenos.

Ripple makes a splash with $30m

Vegan dairy product developer Ripple Foods has added a GV-led series B round to the $13.6m in series A funding it raised six months ago.

 

Financial

PayJoy celebrates $18m in funding

The round, made up of $8.5m in series A capital, $4m of venture debt and $5.7m in private financing, featured corporate venturing fund Orange Digital Ventures.

 

Energy and Natural Resources

Siluria fuels growth with $45m

Air Liquide and Maire Tecnimont have joined NatPet for a series E round that took the amount raised by the gas-to-fuel company to $170m since 2008.

Total blows into United Wind

Total’s corporate venturing unit has invested an undisclosed sum in distributed wind energy company United Wind, four months after Statoil provided $3m in series B funding.

Alphabet Energy goes from B to C round

The waste heat-to-energy technology developer has raised $23.5m in a series C round led by Schlumberger and backed by GM Ventures.

Morgan Solar beams in $10m

Enbridge and Iberdrola were among the investors that provided the money, which will help the concentrating solar equipment producer increase manufacturing capacity.

 

Transport

UCar to lift itself on to public markets

Alibaba and Legend Holdings are set to exit the chauffeured lift service, spun out of auto rental company CAR in early 2015, through a flotation in China.

Birds Eye spots Times for $6m round

Times Internet has led a series B round for the public transport journey planner that included existing backer Qualcomm.

 

Services

Salesforce finds Universal Avenue for $10m series A

Existing shareholders including Salesforce Ventures have joined Eight Roads Ventures for a $10m investment in the on-demand sales staff recruitment platform.

Cornerjob recruits Azteca for $25m series B

Media company Azteca provided $5m in an ad-for-equity deal for Cornerjob, following the job listings platform’s similar agreements with Mediaset and TF1.

ZTO repares to package $2bn IPO

ZTO, part of the Alibaba-affiliated Cainiao smart logistics network, intends to float in the US from autumn 2016 and is targeting between $1bn and $2bn.

Codeacademy enlists Naspers for $30m series C

Naspers has led the online coding school’s latest round, bringing its overall funding to more than $42m and enabling it to expand internationally.

Paktor packs in $10m

YJ Capital and Media Nusantara Citra participated in the social dating company’s latest round as new investors, bringing its overall funding to just over $20m.

Kunlun Tech goes to Nash Work in $30m round

Workspace provider Nash Work has closed a series B round that included a second investment by internet company Kunlun Tech.

Prospective investors seek a place at Freshdesk

Temasek and an undisclosed US strategic investor are reportedly in talks with Google Capital-backed Freshdesk over up to $100m in funding at a $500m+ valuation.

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