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27 November 2017

News round up 27 November 2017

A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.

Author: Thierry Heles, Reporter

Corporate venturing deal net: 20-24 November 2017

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

 

Fundraising

Crescent creates $150m venture capital arm

The UAE-based conglomerate has diversified into direct VC investments, and will put half the cash into MENA-based companies.

EWE energises HTGF III

The energy and telecoms utility has committed a seven-figure euro amount to High-Tech Gründerfonds’ oversubscribed third fund.

Corporates go to SeedCamp for fourth fund

The Europe-focused VC firm has raised more than $54m from LPs including Unilever Ventures, Thomas Cook Money and MassMutual Ventures.

Barilla to nourish startups with venture fund

Blu1877 will invest in innovations related to pasta products, and will invite startups to its pilot plant to test out their concepts.

Axa adds $175m for fund-of-funds

The insurer's strategic investment arm has put up $175m for a scheme called ASV Diversified that will supply up to $15m for VC fund investments.

 

People

Heggie and Sharma ascend at JetBlue

Christina Heggie and Ajay Sharma have been promoted to investment principal roles at JetBlue Technology Ventures.

 

Exits

WeLab investigates $500m IPO

Alibaba-backed online lending marketplace WeLab is seeking to raise up to $500m in an initial public offering on the Hong Kong Stock Exchange.

SenseTime seeks to schedule IPO

Qualcomm-backed SenseTime has begun exploring an initial public offering and will launch a US-based research and development centre as early as 2018.

Arsanis closes IPO at $46m

The monoclonal antibody developer, which counts GV and EMBL Ventures among its investors, had initially raised $40m when it floated last week.

Casa casts eye over public markets

Liberty Global-backed broadband connectivity software provider Casa Systems has filed for a $150m IPO

SCPharmaceuticals gets cash injection from IPO

Sun Pharmaceutical and Lundbeck scored exits in an $89.6m initial public offering by the subcutaneous heart failure therapy developer.

Analysis: Tencent's $14bn IPO exit streak

Five companies backed by internet company Tencent raised large amounts in their initial public offerings (IPOs) over the past few months. It appears to be a bout of IPO exits that may not ended yet.

Lyft records Kamcord acqu-ihire deal

Corporate-backed Kamcord is to sunset its livestreaming and social media apps as 12 members of its team join Lyft, having previously raised $35m.

Bluegogo collapses into Biker

Bluegogo is handing over its bicycle sharing operations to rival Biker, having halted rentals amid a growing consumer backlash.

Arsanis attains public market status with $40m IPO

The GV and EMBL Ventures-backed immunotherapy developer floated in an underpriced offering and received $20m in a private placement from NEA.

 

IT

Big Deal: AI is eating software but venture models are colliding

If it is shown that a different funding structure to just venture capital is helpful in AI then implications could cascade to other industries.

Pixvana picks corporates for $14m round

Microsoft Ventures, Cisco Investments and Hearst Ventures have contributed to Pixvana's Vulcan Capital-led series B round.

Scalyr logs $20m series A

Bloomberg Beta has reinvested in log management software developer Scalyr, having previously backed its 2015 seed round.

Nautilus sails to $26m series C

Keppel Data Centres provided $10m of the funding, investing alongside Ireland Strategic Investment Fund and Emerson Elemental.

NS8 plays nice to secure $7.5m

The Bloomberg-backed e-commerce fraud prevention software startup has raised money in an Arbor Ventures-led round.

CY Vision sees its way to $7m

CY, a developer of holographic technology for augmented and virtual reality devices, has raised series A funding from Vestel and Intel.

 

Health

Grail grows series B to $1.2bn

Illumina's cancer diagnostics spinout, which is backed by a host of corporate investors, reached the $900m first close of the round in March.

Takeda strikes Chordia in series A round

Oncology drug developer Chordia Therapeutics has raised series A funding from backers including Takeda, from which it is licensing its preclinical drugs.

Portea carries $26m in series C round

Qualcomm Ventures has returned after previously contributing to in-home healthcare service Portea Medical’s series A and B rounds.

Sygnature takes Step to $17m series A

Step Pharma, a developer of treatments for autoimmune diseases, has completed its series A round after closing a second tranche.

Deepwise scans series A+ funding

Kinzon Capital has participated in a $17.3m round for medical imaging system developer Deepwise that was led by Danhua Capital.

Outpost marks series A round with $61m

The urologic and gastrointestinal disorder treatment developer has raised another $20m in its Novo and Takeda-backed series A round.

RDD Pharma rides series B round

RDD Pharma has secured $9.5m in a series B round that included Pharmascience, and will use the capital to fund clinical trials.

 

Media

Tech in Asia attracts Hanwha Investment

Tech in Asia has raised $6.6m in a Hanwha-led round that will fund research and development for its media, recruitment and events products.

Axios stacks up $20m in funding

The short-form media platform has tripled its total funding, raising cash from investors including NBCUniversal and WndrCo.

VidMob masses $7.5m in series A funds

The video creation marketplace will use the cash from the Stampede Ventures-backed round to expand its team across its four offices.

 

Consumer

Inagora inks $68m series D deal

Itochu, KDDI and SBI Holdings have all invested in the cross-border mobile commerce platform to increase its total funding to $109m.

Kona Deep drinks in $5.5m

Danone Manifesto Ventures has invested in bottled ocean water brand Kona Deep in its fifth deal since launching in September last year.

Deliveroo increases series F order to $482m

The Nokia-backed online food delivery app has added $98m to a round co-led by T. Rowe Price and Fidelity that values it at more than $2bn.

 

Financial

DG Lab enters Blockstream

Blockstream has raised cash from DG Lab Fund I, the investment vehicle formed by Digital Garage and Daiwa Securities, taking its total funding to $80m.

AIB meets TransferMate in funding deal

AIB has invested approximately $35m in TransferMate as part of a strategic partnership, taking a stake of at least 10% in the process.

Xiaomi makes $1bn Indian corporate venturing call

The smartphone maker aims to invest in 100 India-based startups over the next five years as it seeks to build its mobile app ecosystem.

 

Energy and Natural Resources

Flo reaches $11m in funding

An affiliate of USAA has contributed to a series A round that took water monitoring startup Flo Technologies' total equity funding to more than $11m.

 

Telecoms

MyRepublic votes for series C investment

Makara Innovation Fund has put up $51.8m of the $111m that Sinar Mas and DST-backed internet service provider MyRepublic has targeted for the round.

 

Transport

HopSkipDrive embraces Student Transportation for new funding

Student Transportation has led a $7.4m round for HopSkipDrive, a ride sharing service that drives children to school or activities.

Lyft lines up $500m more in funding

The ride hailing platform would add the prospective capital to the $1bn series G round led by corporate investor CapitalG last month.

OnePark finds space for Keolis funding

Keolis has made a second investment in parking space provider OnePark, supplying $14.1m that will be used to improve user experience and fund expansion.

Mahindra to drive $50m round for Zoomcar

Car sharing platform Zoomcar is in talks with conglomerate Mahindra and Mahindra as well as two undisclosed investors over a round that will support growth.

Divergent 3D produces series B funding

The vehicle manufacturing technology developer has raised $65m+ in an Altran-backed round that could eventually close at $107m.

TuSimple clinches $55m series C

Returning backer Sina was among the investors in the autonomous trucking technology developer's latest round, three months after its series B.

Shouqi picks up $106m

The limousine ride-sharing service has secured $106m in a series B+ round co-led by Baidu and Nio, following an $88m series B in July.

 

Services

Uhouzz opens its doors to $14m

The interational student housing services startup almost doubled its total funding in a series B round backed by New Oriental Education Group.

The Wing takes flight with $32m

WeWork led the female networking organisation's series B round, closed in advance of the opening of two more of its branches.

Corporates buy into aCommerce's $65m series B

DKSH and MDI Ventures backed an Emerald Media-led round that will support the e-commerce services provider's international expansion plans.

Code2040 unlocks $5.6m

The Knight Foundation provided $3m of the funding, as the Intel and Google-backed tech diversity initiative looks to expand into new areas.

ZMT optimises Kinzon funding

Beijing Zmeng Network Technology has secured $27.1m in series B+ funding from investors including the Fosun-affiliated Kinzon Capital.

TaskEasy maintains progress with $22m

The on-demand maintenance services provider has raised series C funding from investors including Camber Creek and Delta Electronics Capital.

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