Lunar Energy disclosed $300m from investors including Sunrun and SK, and acquired Honda, Itochu and Tokyo Electric Power-backed Moixa for an undisclosed amount.

M&A

Homeowner-focused electrification technology provider Lunar Energy has acquired Moixa, the UK-based smart battery developer backed by carmaker Honda, conglomerate Itochu and energy utility Tokyo Electric Power Company, for an undisclosed amount. The deal enabled Itochu and Honda to become shareholders in Lunar, which emerged from stealth yesterday having raised $300m since 2020 (see below).

Collaborative data operations platform Nexla has purchased Fidap, a US-based data infrastructure builder that counts internet and technology group Alphabet’s Gradient Ventures unit as an investor, for an undisclosed sum.

Funds

Japan-headquartered conglomerate Mitsubishi’s Southeast Asia-oriented private equity firm, AIGF Advisors, has closed a RMB17.3bn ($126m) second fund, DealStreetAsia reported today. Unnamed institutional backers from Japan and Southeast Asia were among the limited partners.

Indonesian government-formed, corporate-backed incubator and investment firm Merah Putih is set to reach a $300m first close for its inaugural Dana Ventura Merah Putih Fund in the first quarter of next year, an executive told DealStreetAsia. Its LPs will include BNI Ventures, BRI Ventures and Mandiri Capital Indonesia, on behalf of financial services firms Bank Negara Indonesia, Bank BRI and Bank Mandiri, as well as MDI Ventures and Telkomsel Mitra Inovasi, the investment arms of Telkom Indonesia and Telkomsel respectively.

Reverse merger

Akili Interactive Labs, a US-based digital therapy developer backed by pharmaceutical firms Merck Group, Amgen and Shionogi, has listed on the Nasdaq Capital Market having completed a reverse merger with special purpose acquisition company Social Capital Suvretta Holdings Corp I. The deal was first announced in January this year and follows over $163m in venture funding. It is being boosted by $162m in private investment in public equity financing.

Funding

Alphabet’s Google for Startups Accelerator has unveiled its latest cohort of Women Founders, which includes three Canadian startups: mobile stock trading tool provider Blossom Social, website-focused emotion analytics service Emaww and MedEssist, the creator of a digital care delivery platform. The batch also featured nine US-based companies:

  • Healthcare customer management service Advocatia
  • Hospital and clinic-focused reimbursement automation service Arinitra
  • AI-equipped packaging recycling technology provider CIRT
  • Smart testing tool developer CyDeploy
  • Sustainable small farm builder Farm Generations
  • Veterinary recruitment service Hound
  • Machine learning-driven oncology therapy developer Generable
  • Digital agency notice compliance platform Noticeninja
  • Parking garage automation service Zero5
Company Company description Sector Country Round Round size($m) Deal date Investors
Lunar Energy Home clean energy product supplier Energy and Natural Resources US N/A 300 24/08/2022 Sunrun (lead), SK Group
Aktis Oncology Solid tumour-focused radiopharmaceutical therapy developer Healthcare US A 156 (updated) 25/08/2022 Merck & Co (MRL Ventures Fund), Bristol Myers Squibb, Novartis; Cowen Healthcare Investments, ArrowMark Partners, Mirae Asset Venture Investment, Timefolio Capital (formerly NS Investment), Pappas Capital, MPM Capital, Vida Ventures, EcoR1 Capital, Octagon Capital, TCG Crossover
CloudView Internet browser developer IT UK N/A 100 24/08/2022 Tencent, Transsion Holdings; Welight Capital
Ready Player Me Metaverse avatar creation platform Media Estonia B 56 23/08/2022 Endeavor (formerly William Morris Endeavor); Andreessen Horowitz (A16Z Games Fund One, A16Z Crypto) (lead), Plural, David Baszucki, Justin Kan, Robin Chan, Henry Ault, Sebastian Knutsson and Riccardo Zacconi, Collab+Currency, Hartbeat Ventures, D’Amelio family, Punk6529, Snowfro, Nordic Ninja, Konvoy
AstriVax Yellow fever vaccine developer Healthcare Belgium Seed 29.9 25/08/2022 Ackermans & van Haaren, BNP Paribas Fortis (BNP Paribas Fortis Private Equity); V-Bio Ventures (lead), Fund+, Mérieux Equity Partners (OMX Europe Venture Fund), Flanders Future TechFund, Thuja Capital, KU Leuven Gemma Frisius Fund
Lily AI Product recommendation tool developer Consumer US B 25 24/08/2022 Panasonic (Conductive Ventures); Canaan Partners (lead), Sorenson Ventures, NEA
Thirdweb NFT and web3 app development platform IT US A 24 25/08/2022 Coinbase (Coinbase Ventures), Shopify, Polygon; Haun Ventures (lead)
Spectral Web3 credit score provider Financial US N/A 23 24/08/2022 Samsung, Circle (Circle Ventures), Alphabet (Gradient Ventures); General Catalyst (lead), Social Capital, Sishir Varghese, Section 32, Franklin Templeton, Jump Capital
Venturous Group Smart city infrastructure provider Industrial China B 20+ 25/08/2022 CLP Group (lead)
Chocolate Finance Savings optimisation technology developer Financial Singapore A 19 25/08/2022 Prosus (Prosus Ventures), Credit Saison; Sequoia Capital (Sequoia India) (lead), Orion Advisors, Global Founders Capital, Dara Holdings, Ion Pacific, ChocVen
Awign Enterprises On-demand staffing platform Services India B 15 25/08/2022 Bertelsmann (Bertelsmann India Investments), Mynavi; Amicus Capital Partners, Unitus Ventures, Michael and Susan Dell Foundation
Nkars Mobility Millennial Solutions Owner of two-wheeler vehicle manufacturer DriveX  Transport India N/A 10.7 24/08/2022 TVS Motor Company
Biotia Pathogen detection technology developer Healthcare US A 8 23/08/2022 SK Group (SK Square Americas); OCA Ventures (lead), Continuum Health Ventures, Phoenix Venture Partners, SeedtoB Capital, Digital-Dx Ventures, Falcon II Ventures, Tau Ventures, Hyperplane Venture Capital, Leawood Venture Capital, SpringTide Ventures
Reposite Travel agent software producer Services US N/A 7.5 23/08/2022 Bertelsmann (Bertelsmann Digital Media Investments); Liberty City Ventures (co-lead), Greycroft (co-lead), Math Ventures 
The Good Face Project Beauty product development platform Industrial US Seed 5.65 23/08/2022 Capsum; VMG Catalyst (lead), Spark Growth Ventures, Redo Ventures, John Heffner, Romain Gaillard, Andy Ballester, Brooke Kiley, Hem Suri
Rewst Robotic automation process technology developer Industrial US N/A 4 23/08/2022 MDJ; TDF Ventures (lead), Florida Funders, GroTech Ventures, Adam Slutskin, David Bellini 
Key DH Technologies Operator of green hydrogen production service Hydrogen Optimized Energy and Natural Resources Canada N/A N/A 24/08/2022 ABB (ABB Technology Ventures)
OBM Online student advice service Services Egypt N/A N/A 24/08/2022 Nahdet Misr Publishing House (EdVentures)
Lumotive Beam-steering lidar chip developer IT US N/A N/A 25/08/2022 Samsung (Samsung Ventures) (lead), Himax; Bill Gates, Quan Funds, MetaVC Partners
Xymax Property management company Services Japan N/A N/A 25/08/2022 BS Shochiku Tokyu
PromiseQ Security system analytics technology provider IT Germany Pre-Seed N/A 23/08/2022 Porsche/Axel Springer (APX) (lead); René Helbig

Image courtesy of Lunar Energy, Inc.

Edison Fu

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