AAA Weekly corporate venturing deal net: 22-26 February 2016

Weekly corporate venturing deal net: 22-26 February 2016

Food retailer Whole Foods has agreed to make an equity investment of undisclosed size into US-based grocery delivery service Instacart alongside a five-year delivery partnership deal, Re/code reported on Tuesday. Instacart had raised $275m from Comcast Ventures, the corporate venturing arm of mass media company Comcast, Dragoneer Investment Group, Thrive Capital, Valiant Capital, Andreessen Horowitz, Khosla Ventures, Sequoia Capital, Aaron Levie and Sam Altman as of January 2015.

Stock exchange Nasdaq invested an undisclosed sum in US-based cognitive computing technology provider Digital Reasoning on Tuesday in connection with the formation of a strategic alliance to bring surveillance technology to capital markets. Digital Reasoning had previously raised about $57m from investors including Credit Suisse Next Investors, a subsidiary of financial services firm Credit Suisse, and Goldman Sachs, according to press releases and regulatory filings.

Chase Pharmaceuticals, a US-based brain disorder treatment developer backed by pharmaceutical company Cipla, has raised $3.5m in new funding, according to a regulatory filing. Chase secured $21m in a 2014 series B round featuring Cipla, New Rhein Healthcare Investors and Edmond de Rothschild Group, and has now raised approximately $29m altogether.

Sony Mobile Communications, the smartphone subsidiary of electronics group Sony, invested an undisclosed amount in US-based battery performance software developer Qnovo on Monday. The cash will be added to the $8.6m in series B funding Qnovo raised in September 2015 from Intel Capital, the corporate venturing arm of chipmaker Intel, BlueRun Ventures, RockPort Capital and US Venture Partners.

Electranova Capital, the cleantech VC fund sponsored by energy utility EDF, invested an undisclosed sum in Tanzania-based solar energy system installer Off Grid Electric on Tuesday. Off Grid had previously raised more than $48m from investors including solar system provider SolarCity, Vulcan Capital, Zouk Capital, Omidyar Network, Jasmine Social Investments, Mulago Foundation, Segal Family Foundation and The World We Want Foundation.

SendCloud, the Netherlands-based operator of a service that links e-commerce sellers with logistics service providers, has raised €2m ($2.2m) from TIIN Capital and Brabant Development Agency. A graduate of StartupBootcamp Amsterdam, SendCloud previously raised an undisclosed amount of funding from Sanoma Ventures, the corporate venturing subsidiary of media group Sanoma, in January 2015.

Insurance and financial services group Intact Financial Corp has invested an undisclosed amount in US-based pay-per-mile car insurance provider Metromile as part of a strategic partnership agreement. Metromile had previously raised $14m from AmTrust Ventures, which acts as a division of property and insurance firm AmTrust Financial Services, Allen and Company, Felicis Ventures, First Round Ventures, SV Angel, New Enterprise Associates and Index Ventures.

Versago Vascular Access, a spinout from US-based medical device maker Primo Medical Group, closed a $1.65m seed round on Wednesday. Versago has developed what it claims is the world’s first ‘reverse needle’ subcutaneous access port for the body’s bloodstream, and said the funding came from Primo’s “network of individual and institutional investors”.

Credit ratings agency Moody’s Corporation invested an undisclosed sum in US-based financial data collection and business intelligence service provider Finagraph yesterday. Moody’s will leverage Finagraph’s technology to widen its range of credit risk products for small and medium-sized enterprises.

Semiconductor technology provider Intel invested $1.3m in Code2040, the US-based operator of a referral program for African-American and Latino coders, on Tuesday. Code2040 received $775,000 in grant funding from internet technology provider Google in February 2015 before The Knight Foundation added $1.2m in December.

Germany-based human resources software startup Loopline Systems closed its second round of financing on Tuesday having secured “a significant increase to its seven-digit investment total”. Investors in the round included corporate-backed growth equity fund High-Tech Gruenderfonds (HTGF), VC Fonds Technologie Berlin II, Project A Ventures and Monkfish Equity. Its initial funding came from VC firm Project A, which incubated the company.

Conglomerate Mitsui has invested an undisclosed sum in Singapore-based big data analytics technology developer Crayon Data as part of an agreement whereby Mitsui will support the launch of Crayon’s offering in Japan, E27 reported on Wednesday. Crayon had raised S$7.25m ($3.9m at current exchange rates) from Jungle Ventures, Spring Seeds Capital and assorted angel investors as of March 2014.

MDI Ventures, a corporate venturing vehicle for telecommunications firm Telkom Indonesia, has invested $1m in Sinagpore-based digital marketing technology provider Ematic Solutions, Tech in Asia reported yesterday. The funding comes two months after a $1.1m seed round featuring Wavemaker Partners, 500 Startups and Convergence Ventures.

Germany-based home security technology startup BuddyGuard received $1m in seed capital from electronic technology manufacturer Bachmann and undisclosed angel investors yesterday. The cash will support the journey of BuddyGuard’s Flare intelligent home security system to market, and follows a successful Kickstarter campaign and $220,000 of earlier funding from undisclosed backers.

Crossroad, the France-based developer of an app that compiles, sorts and shares group photos for social media, has changed its name to Comet and pulled in an undisclosed amount of funding from telecoms firm Orange, TechCrunch reported on Wednesday. The startup is a graduate of Orange’s Orange Fab accelerator.

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