Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Supermarket operator Casino has paid an undisclosed amount for a 5% stake in France-based mobile payment technology developer Lyf Pay, Reuters reported on Monday. Lyf Pay was formed through the merger of Fivory and Wa, the mobile wallets created by financial services firm BNP Paribas and retail group Carrefour respectively, and BNP Paribas and cooperative bank Credit Mutuel Alliance Federale each own about 40% of the company respectively.
UnderStory, the US-based weather data and analytics provider backed by agribusiness Monsanto, raised $7.5m on Tuesday in a round led by venture capital fund 4490 Ventures that included investment firm Revolution’s Rise of the Rest Seed Fund and VC firm True Ventures. Monsanto unit Monsanto Growth Ventures co-led a $7.5m series A round for UnderStory with 4490 in early 2016, investing alongside True Ventures, RRE Ventures, SK Ventures and CSA Partners, following a $1.9m seed round in 2014.
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