Weekly corporate venturing deal net 29 August – 2 September 2016
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Subsector analysis: Rise of Lidar in 3D mapping for autonomous vehicles
Kaloyan Andonov of GCV Analytics, and James Mawson, Global Corporate Venturing’s founder and editor-in-chief, review the latest deals for a core subsector within cars.
Fundraising
Legend Capital discloses $495m of new funds
The CVC unit has launched a $270m tech fund and a $225m healthcare fund this year, while sister firm Hony Capital has raised a $2.2bn private equity fund.
China Everbright gains Focus for $750m fund
Focus Media and China Everbright Group are teaming for a technology, media and telecommunications investment fund that will initially target $300m in fundraising.
ASR makes Social Impact in $45m fund
Netherlands impact investor Social Impact Ventures has closed its first fund at $45m, with insurer ASR providing $5.6m and ASN Bank $3.3m.
The fund’s LPs include Nationwide, Cardinal Health, Worthington Industries, Crane Group, AEP Ohio, Dispatch Printing Company, State Auto Insurance and IGS Energy.
Reliance pledges $750m for digital startup funding
The firm’s Jio Digital India Startup Fund is being launched in conjunction with its forthcoming 4G network, and the money is set to be invested in the next five years.
People
Renard heads west after SanDisk merger
Aymerik Renard has been made director of US-based data storage provider Western Digital’s corporate venturing unit, which has invested over $250m in more than 20 startups under chief strategy officer Mark Long.
Exits
The Cisco-backed IT business management software producer has raised more than $135m in VC funding
IronPlanet enters Ritchie Bros’ orbit in $758m deal
Caterpillar and Volvo Construction Equipment have exited online machinery auction platform IronPlanet through an acquisition by Ritchie Bros Auctioneers.
Nestlé to swallow portfolio company Phagenesis
Phagenesis, developer of a medical device to treat dysphagia, had raised about $20m from investors including Nestlé’s Inventages Venture Capital unit.
IT
LogRhythm gets in the groove with $50m
The cybersecurity software producer has now raised more than $120m, after closing $50m in financing from backers including Siemens and Exclusive Networks.
Wipro gains IntSights stake in $7.5m round
Cyber threat detection startup IntSights has completed a series A round that included Wipro Ventures, less than a year after closing a $1.8m seed round.
Jumio verifies $15m investment
The digital identity verification service, backed by Citi and acquired by Centana Growth Partners in May following a bankruptcy filing, has raised $15m in funding.
Health
CBT thinks positively with series A round
Crown Bioscience spinout CBT Pharmaceuticals has raised $9.75m and will put the proceeds toward advancing two cancer treatments into human clinical trials.
Debiopharm produces GenePoc investment
Debiopharm has committed an eight-figure sum to recently acquired subsidiary GenePoc and has also agreed to set up a new production line.
Arcus Biosciences reveals $120m of funding
Celgene, Novartis, GV and Taiho Ventures are among the backers that provided the funding for the immuno-oncology company over two rounds.
Corporates McKesson and Medidata Solutions came on board to help life sciences cloud analytics platform Shyft Analytics’ overall funding to $31.5m.
Mitra Biotech writes $27m series B script
A Tata Capital subsidiary was among the investors in a $27.4m round that will support development of Canscript, Mitra Biotech’s oncology treatment analytics technology.
Media
Investors supply series C funding to Mediamorph
Mediamorph, which provides digital content supply chain management software, has secured $21.2m in a round co-led by Advance Vixeid Partners.
DraftKings treasury expands with $153m in funding
The daily fantasy sports platform, which counts Fox Sports and sports leagues MLB, NHL and MLS as investors, raised the money in a down round led by Revolution Growth.
Consumer
Petco helps feed $10m to Petnet
Petnet has raised series A funding from investors including pet product retailer Petco, which will now carry the company’s personalised pet feeding technology in its stores.
HappyFresh bags up additional funding
Sinar Mas Digital Ventures returned for a funding round larger than the $12m series A closed by the Southeast Asian grocery service a year ago.
Velocity feasts on series B cash
John Paul is among the investors in a $22.5m round for Velocity, which operates a booking platform for high-end dining experiences, adding to a $16m round last year.
Songkick hits up Access for $15m
Access Industries has returned to provide $15m to the ticketing platform, having contributed to a $16m series C round in June 2015 and invested $10m in December.
NotOnTheHighStreet fashions $27.5m series E
Hubert Burda Media has led a series E round for the curated marketplace, which sells items produced by small businesses, taking its total equity funding to about $58m.
Helix Sleep gets in bed with Simon Property
Simon Ventures Group was one of the investors taking part in a $7.35m series A round for the bespoke mattress producer, which raised $800,000 last year.
Yi Technology records $90m series A
Xiaomi has led a series A round for Yi Technology, a manufacturer of drones and low-priced action cameras.
Financial
One97 cues up $300m in MediaTek-led round
Paytm owner One97 Communications is set to raise the funding at a $5bn valuation with contributions from MediaTek, Alibaba, Ant Financial and possibly Fosun.
One97 confirms $60m MediaTek investment
The funding, provided through a MediaTek investment unit at a $4.8bn valuation, is set to form part of a $300m round expected to include Alibaba, Fosun and Foxconn.
Net1 catches MobiKwik in $40m deal
Net1 has made a strategic investment in mobile payment firm MobiKwik, pushing the digital wallet provider’s total funding to approximately $120m.
Energy and Natural Resources
Engie has reinvested in solar energy platform BBoxx, expanding the off-grid solar energy provider’s total funding to $40m as it prepares to expand in Africa.
Transport
Sanhua helms $23m Yitu8 series B
Private car hailing service Yitu8 followed its March seed funding with a round led by refrigeration and air conditioning component maker Sanhua Holdings.
Services
The Advance Publications-backed real estate platform closed the funding at a valuation of more than $1bn and has now raised $210m in total.
HunterOn bags $30m in series C funding
IDG Capital Partners made its third investment in recruitment platform HunterOn, helping to double its overall funding to $60m in the process.
American Family gets Cozy in $8.5m series B
Property leasing services platform Cozy has completed an $8.45m round led by American Family’s corporate venturing unit.
Telecoms
LetterOne clears $50m FreedomPop investment
Intel and Axiata-backed mobile service provider FreedomPop has closed the $50m in funding it announced in January and named LetterOne as the investor.