Weekly corporate venturing deal net 22 – 26 February 2016
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Interview: Nokia Growth Partners’ $350m bet on internet of things
Finland-based technology company Nokia makes its biggest bet yet in venture capital on the internet of things with its commitment to arms-length venture firm Nokia Growth Partners.
Interview: Healthcare funding in 2015 reaches new heights
Corporates remained active as crossover investors helped take healthcare VC investment to its highest level since 2000, Jonathan Norris of Silicon Valley Bank told Global Corporate Venturing.
Fundraising
Nokia Growth Partners closes $350m IoT fund
The fund, which brings the amount managed by the Nokia-sponsored firm to more than $1bn, will look to invest in a wide range of internet of things technologies.
UniCredit to put almost $220m into fintech startups
The bank, which already runs a startup accelerator called UniCredit, is investing the money as part of a larger digital evolution initiative.
Infocom joins with Fenox for Indonesian accelerator
Infocom, an IT services subsidiary of chemicals and pharmaceuticals group Teijin, is partnering VC firm Fenox for a Southeast Asian accelerator called GnB.
IDG Ventures India targets $200m for third fund
The IDG affiliate has not yet raised any cash for the fund, which will follow two earlier nine-figure funds.
TCL and Tsinghua Unigroup to combine for $1.5bn fund
Electronics producer TCL is teaming with the semiconductor producer for an investment fund that has so far received more than $275m from its founding partners.
Mitsui Fudosan to move into corporate venturing
The real estate firm has launched a $44.6m corporate venturing fund with Global Brain which has already pledged investments to two VC firms.
Omron and Ricoh to turn on $44.5m fund
The electronics producers will set up a joint fund in March 2016 that will seek out startups in the internet of things, robotics and other emerging sectors.
Exits
Yayoi makes statement with $8.9m Misoca acquisition
Sumitomo Mitsui Financial Group, an investor since late 2014, exited invoicing software company Misoca through a purchase by Yayoi.
Ravello greets Oracle in $500m acquisition
Oracle has bought virtualisation software specialist Ravello Systems, which had raised $54m from backers including Qualcomm and SanDisk, for a reported $500m.
Synacor attracts Technorati in $3m deal
Digital Garage-backed Technorati, which had raised more than $30m in capital since 2002, was bought by Synacor for just $3m.
Applied Materials detects Oncoscope exit
SpectraScience has acquired the assets of Applied Materials-backed oncology diagnostics technology developer Oncoscope for an undisclosed sum.
IT
Orion Labs experiments with Motorola Solutions in $9m series B
The corporate took part through its Motorola Solutions Venture Capital unit, helping to boost wearable communication device maker Orion’s total funding to more than $15m.
Understory sees sunny weather with $7.5m series A
The weather detection system producer raised the cash in a round co-led by Monsanto Growth Ventures as it prepares to expand across the US.
Pavilion stores $15m with help from SK Telecom
Pavilion Data Systems and Etopus Technology have both closed series A rounds backed by the accelerator run by SK Telecom Americas.
Intel sees Reflektion for $18m series B
The smart analytics platform, which has also received funding from Nike, took its total funding to more than $29m in a round backed by existing investor Intel.
NuoDB compiles funding into $17m round
The Dassault Systèmes-backed cloud database software company will put the cash into product development, sales and marketing.
Team8 assembles corporates for $23m series B
AT&T, Accenture, Mitsui and Nokia all took part in a $23m series B round for the cybersecurity incubator, which previously raised cash from Alcatel-Lucent and Cisco.
Salesforce helps Qubit customise $40m series C
Customer interaction platform Qubit increased its overall funding to $76m in a Goldman Sachs-led round that included returning investor Salesforce.
ThousandEyes checks out $35m series C
The network management company has added Alphabet to its shareholders, having previously secured cash from investors including Salesforce.
Quantifind locates investors for $30m
Customer insights platform Quantifind has now raised almost $50m altogether, after Comcast Ventures returned to make its second investment in the company.
Health
Effector carries out series B expansion
The round has been extended to $56m following a $40m first close in December 2015 featuring GlaxoSmithKline, Novartis, Astellas and AbbVie.
Corporates make Impact at series B stage
Lilly Asia Ventures contributed funds to a $10m series B round for Impact Therapeutics, having previously participated in the company’s 2014 series A.
Oscar rolls out red carpet in $400m round
Fidelity Investments has led a $400m round as the Alphabet-backed health insurance provider looks to grow its service to a million users within five years.
Nestlé nurtures Pronutria with $42.5m
Nestlé Health Science has injected fresh capital into Pronutria, less than a year after participating in a $39m series C round through VC partner Flagship Ventures.
Svelte’s latest round swells to $44m
Coronary stent technology company Svelte Medical Systems’ shareholders include CNF Investments, an affiliate of construction-focused holding company Clark Enterprises.
Forty Seven gets halfway to $75m
GV has supported the initial tranche of a $75m series A round for Forty Seven, an immuno-oncology spinout of Stanford University.
Rani Therapeutics swallows more funding
Rani, which has created a process to convert injectable drugs into pills, has attracted capital from investors including AstraZeneca and Ping An, boosting its total funding to $70m.
Media
Attn draws Evolution Media for series B
Evolution Media Partners, backed by CAA and Participant, led an $18.6m round for advocacy-based news platform Attn, which will now invest in its video content.
Digital Grid has provided an initial $75m for Razer’s series C round, which values it at $1.5bn, with the final size of the round yet to be revealed.
Corporates host MasterClass in funding
Celebrity-endorsed learning platform MasterClass has disclosed a $15m series B round backed by Bloomberg, Novel Group and William Morris Endeavor.
Consumer
Athentek tracks Foxconn for $7m series A
Foxconn led the wearable tracker maker’s series A round, which also included Testrite and MediaTek.
Orami tries on Sinar Mas in $15m round
The conglomerate’s corporate venturing unit led the round for Orami, the company formed by the merger of female-focused fashion retail sites Moxy and Bilna last month.
Financial
Aria reaches high note with $50m series E
VMWare has returned to back recurring revenue management platform Aria Systems’ latest round, after previously supporting a $40m series D in 2013.
Power Financial dives into Borrowell
Financial technology developer Borrowell has secured $6.4m from investors including Power Financial Corporation.
Industrial
Iluka helps Metalysis mine $29m
Existing investor Iluka Resources has participated in a $29m funding round for Metalysis, which produces metal powders used in 3D printing.
Transport
BGF and Lloyds insert $28m into Sertec
The car parts producer has received $28.3m in capital from Business Growth Fund and long-term investor Lloyds Bank.
Conglomerate Legend Holdings and vehicle auctioneer Uxin Group have supported a funding round for the salvaged car marketplace.
Didi Kuaidi lines up $1bn ride
The Chinese ride hailing service raised $3bn in September from backers including Alibaba, Tencent and Ping An, and is set to close new funding at a $20bn valuation.
Parkifi stations intself in $9.5m series A
The car park management startup, which counts several property developers among its investors, has now raised $13.5m in the past year.
Services
100Kuai employs Yurun for $15m series A
The student employment startup was only formed in December last year, but has secured $15.3m in funding from backers including meat supplier Yurun Group.
Digital Garage says yes to NoBroker
Peer-to-peer property rental marketplace NoBroker has followed $3m of series A funding last year with a $10m round co-led by Digital Garage.
Naspers to stay in Ibibo with $250m investment
Naspers originally incubated online travel services provider Ibibo, which is also backed by Tencent, in 2007.
Tian Tian receives $92m funding package
The Chinese courier service, 60% owned by counterpart STO Express since 2012, has raised capital in a Qingdao Haier-backed series A round.