A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.
Weekly corporate venturing deal net 22 – 26 August 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
Fund in the News: DigiTx Partners
The digital health fund, launched by Astellas Pharma and MPM Capital late last month, will initially look to invest up to $6m in two to three deals per year.
R/GA invites startups to its studio
R/GA Ventures and Interpublic have launched an initiative called R/GA Marketing Tech Venture Studio aimed at startups exploiting AI and machine learning technologies.
Prudential shutters seed venture investing
One of Prudential Financial’s Gibraltar Ventures team said: “It was amazing that Prudential decided to shut down the corporate venture group after only about a year. And we had accomplished so much in the short period.”
Kelly recruits Temp for $10m fund
Recruitment firm Kelly Services has established a $10m fund with its Asia Pacific partner Temp Holdings, aimed at Indian startups in the human resources sector.
Earlybird catches corporates for health technology fund
Generali Insurance, Miele and Barmer Gek are among the limited partners that backed the first close of the fund, which is expected to reach $135m in size.
Aviva launches Plug and Play partnership
The insurance provider has joined forces with accelerator Plug and Play to create a scheme aimed at insurance technology as part of its Digital First strategy.
People
GM Ventures ‘not yet’ replaced Europe’s Loncar
General Motors’ corporate venturing unit has not replaced European representative Jerneja Loncar, now an entrepreneur-in-residence at GM Entrepreneurs, in lieu of focusing on China, Israel and the US.
Interview: Marcos Battisti joins C5
Marcos Battisti, who used to oversee Intel Capital’s Western Europe and Israel activity, is joining VC firm C5 Capital as it looks to raise a $150m cloud computing fund.
Exits
GMobi finds MassiveImpact in acquisition deal
The internet services provider has paid an undisclosed sum to buy MassiveImpact, a mobile advertising company backed by SoftBank, SingTel and Cloudian.
Rakuten takes more than a bit of Bitnet
Rakuten, which had previously taken part in a $14.5m series A round for payment platform Bitnet, has acquired the company for an undisclosed sum.
Meitu aims to snap billion-dollar IPO selfie
The Foxconn and Sina Weibo-backed company, which develops apps that let users edit photos, is targeting up to $1bn in an offering on the Hong Kong stock exchange.
Report reveals price of One Kings Lane acquisition
The Scripps Network-backed online furnishings flash sales company, once worth more than $900m, was reportedly purchased by Bed Bath & Beyond in June for less than $30m.
Profoundis gets FullContact acquisition
FullContact has acquired Profoundis, a graduate of Microsoft Accelerator, for an undisclosed sum in a move to defend itself against soon-to-be Microsoft-owned LinkedIn.
Promethera starts preparing $45m IPO
The biotech company is seeking up to $45m from an initial public offering that will be conducted in April or May 2017, and is currently raising more funding.
The nitric-oxide skin therapeutics developer will use the proceeds to fund late-stage clinical trials for acne, skin infection and fungal infection treatments.
Nokia exits Citymaps as it folds into TripAdvisor
TripAdvisor has paid an undisclosed amount to acquire social mapping platform Citymaps, which received funding from Nokia Growth Partners in early 2015.
IT
Cliqz picks up funding from Mozilla
Mozilla has provided an undisclosed amount for strategic partner Cliqz, a search engine technology developer majority owned by Hubert Burda Media.
IDG leans into $10m Tempered Networks round
IDG Ventures, which invested in the cybersecurity company’s $15m series A round last year, has returned to contribute to $10m of new funding.
Quanergy maps out $90m series B
The 3D sensor developer raised the funding at a valuation north of $1bn, with contributions from Sensata Technologies, Delphi Automotive and existing backer Samsung.
Veritone’s funding search finds Acacia Research
Media data platform Veritone has agreed $20m in convertible debt financing from patent licensing company Acacia Research Corporation, with a possible $30m more to come.
Testin checks off $30m series C
IDG Capital-backed Testin has developed a cloud-based platform that lets developers test their mobile apps before releasing them.
SAP has provided an undisclosed amount of funding for food personalisation software provider Vivanda as the two prepare to jointly serve food businesses.
BlueTalon hooks $16m in series A round
Bloomberg Beta reinvested in the data protection software provider’s latest round, having been a participant in a $5m round in February 2015.
Health
Singlera arranges $20m series A
Genetic testing technology producer Singlera Genomics has attracted $20m in a series A round led by a subsidiary of Eli Lilly.
Advanced Vixeid gets some skin in Curology
Prescription skincare product supplier Curology has closed a $15m series B round led by the Advanced Publications-backed Advance Vixeid Partners.
Quyiyuan makes time for series B+ round
Baidu and SBCVC both invested in a $32.4m round for the medical appointment booking platform, with the latter also backing a $14.6m round for care management platform Kyee.
Battery Ventures led the home care software provider’s latest round, joining an investor base that includes Qualcomm, McKesson and Cambia Health.
Beiing Gene+ passes series A test with $30m
Beijing Gene+ Technology raised the cash in a round, reportedly the largest closed by a precision medicine company in China, led by genome sequencing firm BGI.
Media
Social networking app developer Migme raises $7.6m
Existing investors Foxconn and Meitu were part of the round, as was MNC, as the Australia-listed company took its 2016 equity funding to almost $13m.
NACS helps put up $4m for RedShelf
Digital textbook provider RedShelf has secured series B funding in a round backed by existing investor National Association of College Stores.
Dushe books Bertelsmann for series A round
Chinese film commentary track producer Dushe has received an undisclosed sum, thought to be up to $11m, from a consortium led by Bertelsmann Asia Investments.
Google calls on old friends with funding
Google is reportedly funding startups formed by ex-team members, including social network Hello, independently to parent company Alphabet’s CVC activities.
Consumer
Torrent floods Puro Wellness with $37m
Nutritional ingredient developer Puro, launched last month by an ex-Torrent executive, has received $37m in funding from the conglomerate.
Daling takes $45m in series C round
IDG Capital Partners has returned to back a series C round for Daling that will help the mobile e-commerce company improve customer experience.
Retail group Suning Commerce has made strategic investments in mobile camera developer Arashi Vision and campus e-commerce platform 8Day.
FirstCry looks to feed growth in $75m round
The IDG-backed maternity, baby and childcare product retailer aims to raise between $50m and $75m in a round that could include part-exits for investors.
Samsung helps breathe $4.5m into Bitfinder
Kakao-backed air quality monitor developer Bitfinder has closed a series A round, after previously raising $2.2m from investors including Kakao.
Ebaoyang parks $22.5m in new funding
Car maintenance platform Ebaoyang has now secured $47.5m in total, after closing a series C round led by existing investor Kunlun Technology.
Clouse comes to the table for Snapdeal funding
The e-commerce company, backed by BCC, Alibaba, Intel and eBay, has raised $21m from Clouse as it gears up for an advertising blitz, adding to $200m secured in Feburary.
Financial
GMO reinvested in the online payment platform, also backed by Rakuten and CyberAgent in the past, as part of a series A-2 round that lifted its total funding to $5.2m.
Investors pay in $47.5m for LendUp
The GV-backed round was closed at a reported $500m valuation, and brings the online lender’s total debt and equity financing to just short of $260m.
One97 to spin out Paytm with new funding
E-commerce firm One97 Communications is separating from its Paytm subsidiary, which is set to raise funding from investors including existing backer Alibaba.
