Recruit Holdings participated in CleverTap’s $105m series D round while Liberty Media led a $100m series D for sports media platform Overtime.

M&A

IT services firm Jack Henry & Associates has agreed to acquire Payrailz, a US-based payment platform developer backed by payment processor First Data and financial services firms Live Oak Bank, Woodforest National Bank and Webster Bank. The transaction, the size of which is undisclosed, is set to close on August 31.

Health information network operator Availity has agreed to buy Diameter Health, a US-based developer of data-equipped health optimisation technology, for an undisclosed sum. It had raised $30m as of an $18m round in late 2020 led by managed care provider Centene Corporation and backed by care services provider Optum through its Optum Ventures unit.

Digital marketing firm Kargo has purchased US-based cloud video software developer Ziggeo for an undisclosed amount. Ziggeo had participated in enterprise software group SAP’s SAP.io Foundry in 2018.

Fund

US-based hardware and software services provider Softeq Development Corporation has committed an additional $5m to its Softeq Venture Fund and formed a venture studio called Launch New Hampshire. Softeq launched the fund in February this year with $40m.

Public markets

SoCar, a South Korea-based car sharing service backed by telecommunications and internet group SoftBank, automotive group Lotte Rental and IT services firm SK Holdings, has set the price of its initial public offering at KRW28,000 ($21) per share, below the KRW34,000 to KRW45,000 range announced in June this year. The price would net the company approximately $78m in the IPO, which is set to take place on the Korea Exchange.

Funding

Company Company description Sector Country Round Round size($m) Deal date Investors
CleverTap Customer engagement and retention platform Services US D 105 09/08/2022 Recruit Holdings; Caisse de dépôt et placement du Québec (lead), Tiger Global, Sequoia India, IIFL Wealth (IIFL Asset Management)
Overtime Gen-Z and millennial-focused sports media provider Media US D 100 09/08/2022 Liberty Media (lead); Morgan Stanley (Counterpoint Global), Winslow Capital, Blackstone, Sapphire Sport
WiTricity  Wireless charging technology developer Energy and Natural Resources US N/A 63 09/08/2022 Siemens, Enechange/Loop (Japan Energy Capital’s Energy Fund), Delta Electronics, Airwaves Wireless Electricity; Mirae Asset Capital, Stage One
Truework Employment verification software provider Financial US C 50 09/08/2022 Indeed; G Squared (lead), Sequoia, Khosla Ventures, Human Capital, Four Rivers Group, Activant Capital
Gunzilla Games Video game developer Media Germany N/A 46 09/08/2022 Animoca Brands, Kucoin (KuCoin Labs), Blizzard, Huobi Group, GSR, Jump Trading Group (Jump Crypto), NGG; Republic Capital (lead), Griffin Gaming Partners, Raptor Group, CoinFund, Shima Capital, Dominance Ventures, Spartan Investment Group, AlphaCrypto Capital, Digital Strategies, Gamegroove Capital, Morningstar Ventures
Oliver Space Tech-enabled furniture producer Consumer US N/A 36 09/08/2022 LG (LG Technology Ventures); Morgan Creek Capital Management (Union Grove Venture Partners) (lead), Mayfield Fund, USVP, Expa Capital, Abstract Ventures, Avenue Capital Group
Shopic Shopping touchscreen hardware producer Consumer Israel B 35 09/08/2022 Qualcomm (Qualcomm Ventures) (lead), Clal Insurance, Shufersal; Vintage Investment Partners, IBI Tech Fund, Tal Ventures
Enalare Therapeutics  Acute respiratory therapeutics developer Healthcare US N/A 25 09/08/2022 Eagle Pharmaceuticals
Canvass Analytics Smart industrial software provider Industrial Canada A 20.7 (updated) 09/08/2022 Yamaha Motors (Yamaha Motors Ventures) (lead); Government of Canada (FedDev Ontario), EDC, Real Ventures, BDC, Viaduct Ventures
Pinata NFT media distribution platform Media US A 18 09/08/2022 OpenSea; Greylock (co-lead), Pantera (co-lead), Offline Ventures, Volt Capital, Alchemy Ventures
SquadStack Digital sales outsourcing service Services India B 17.6 09/08/2022 Bertelsmann (Bertelsmann India Investments (lead); Chiratae Ventures, Blume Ventures
Econic Technologies Waste-derived plastic developer Industrial UK D 12.5 09/08/2022 Global Chemicals (GC Ventures Company Limited), ING (ING Sustainable Investments); OGCI Climate Investments (lead), Capricorn Sustainable Chemistry Fund, CM Venture Capital (CM Venture Capital Fund III)
DataProphet  Manufacturing optimisation technology producer IT South Africa A 10 10/08/2022 Norican; Knife Capital (Knife Fund III) (lead), Industrial Development Corporation
Nerdystar Blockchain game publisher Media South Korea Seed 5.8 09/08/2022 GuildFi, FTX (FTX Ventures); Bitkraft Ventures, Formless Capital, SBXG, Seum, VistaLabs
Qventus AI-equipped healthcare software provider Healthcare US N/A 3 09/08/2022 ThedaCare
Cashmere Enterprise digital wallet management service Financial US Seed 3 08/08/2022 Coinbase (Coinbase Ventures); FBG Capital, Y Combinator
Orxa Energies  Electric motorcycle and battery developer Transport India Pre-A N/A 09/08/2022 SAR Group (Lectrix E-Vehicles) 
Oorja Automotive battery developer Industrial India N/A N/A 09/08/2022 Capital A (Evolve)
Framemotion Studio Digital content producer Media Malaysia N/A N/A 08/08/2022 Nomura
Trinity Life Sciences Life sciences commercialisation technology developer Healthcare US N/A N/A 08/08/2022 Bain & Company
Snkrz Exercise-themed NFT platform developer Media South Korea N/A N/A 09/08/2022 Wemade
Edison Fu

Edison Fu is head of Asia development at Global Corporate Venturing.