Homebuilder Icon boosted a corporate-backed series B round to $392m while FTX, Munich Re and Alphabet contributed to IoT technology developer Helium's $200m series D.
Funding
Investment firm Tiger Global Management has led a $185m second tranche of US-based advanced materials-focused homebuilder Icon’s series B round, increasing it to $392m, TechCrunch reported on Friday, citing a source who told it the company is now valued at almost $2bn. Norwest Venture Partners led the August 2021 first close, which included property developers Ensemble and Lennar (through its LenX subsidiary), architectural firm BIG-Bjarke Ingels Group, financial services firm Citi, 8VC, Bond, Crosstimbers Capital Group, Fifth Wall, Moderne Ventures and Oakhouse Partners.
Helium, the US-based creator of a decentralised internet-of-things data collection system, has secured $200m in a series D round featuring cryptocurrency exchange FTX, reinsurance firm Munich Re and internet and technology group Alphabet, which invested through FTX Ventures, Munich Re Ventures and GV respectively, Axios reported on Friday. Tiger Global Management, Khosla Ventures, Multicoin Capital and FirstMark Capital also took part in the round, which valued the company at $1.2bn.
US-based insulin distribution system developer Beta Bionics has raised $57m in a series C round that included pharmaceutical producer Novo Nordisk. The round was co-led by Soleus Capital, Perceptive Advisors, Farallon Capital Management, RTW Investments and Eventide Asset Management and also backed by Pura Vida Investments, ArrowMark Partners and LifeSci Venture Partners.
Meta, the owner of social media platform Facebook, provided $40m in funding for Japan-headquartered mobile game developer Playco earlier this year, Axios reported on Saturday. Sequoia Capital Global Equities and Josh Buckley co-led the startup’s $100m series A round in September 2020 at a valuation above $1bn, investing alongside internet company Digital Garage, Sozo Ventures, Caffeinated Capital, KSK Angel Fund, Mistletoe Singapore, Dreamers VC, Makers Fund and undisclosed others.
ICCP SBI Venture Partners, the investment partnership formed by financial services provider SBI and venture capital firm ICCP Venture Partners, has participated in a $31m series B round for Philippines-based payment software developer PayMongo, Forbes reported yesterday. JAM Fund, Kaya Founders, Global Founders Capital and Soma Capital also contributed to the round, which followed a $12m series A led by payment technology provider Stripe in late 2020.
US-based distributed energy software developer Virtual Peaker has raised $16.6m in series A funding from investors including electronics manufacturer Emerson’s corporate venturing unit, Emerson Ventures. The round was led by Moore Strategic Ventures and it came three years after $1.2m in seed capital from investors including FreshTracks.
Relief, the US-based operator of a service which helps users rid themselves of credit card debt, secured $15m on Friday in a series A round featuring conglomerate Kraft Group. VC firm Naya Ventures led the round, which included Interplay VC, Animal Capital, Necessary Ventures, Brand Foundry Ventures and angel investors Ken Chenault and Vikram Pandit.
Cellular agriculture technology producer Agronomics has paid $9.5m for a stake in Geltor, a US-based developer of designer proteins for use in cosmetics, sized at approximately 2% according to a regulatory filing today. Geltor had raised a total of $113m as of a $90m series B round in 2020 and counts agribusinesses Archer Daniels Midland and Wilbur-Ellis among its earlier investors.
US-headquartered podcast platform developer Sounder has received $7.7m in series A funding from investors including mass media group iHeartMedia. The corporate was joined by TechNexus, Xoogler Network, Abrahamson Group, Diverse Angels, Adventure Fund, Ulu Ventures, Newark Venture Partners and undisclosed others.
Conglomerate Sinar Mas has led a $6.2m series B-plus round for 6Estates, a Singapore-based spinout of National University of Singapore and Tsinghua University’s Next research centre that has developed a document processing software platform, DealStreetAsia reported today. Seeds Capital and Farquhar VC also took part in the round, which followed a series B led by GDP Venture and backed by Bank Central Asia’s Central Capital Ventura unit, according to DealStreetAsia.
DiaMonTech, the Germany-based developer of a non-invasive measurement system for blood glucose, has raised $5m from Samsung Ventures, a corporate venturing subsidiary of consumer electronics manufacturer Samsung. The corporate was joined in the round by Unorthodox Ventures, Golden Light and existing backers including IBB Ventures.
Digital currency exchange Binance has provided an undisclosed amount of funding for Manta Network, the US-based creator of a protocol designed to privatise crypto assets, through its Binance Labs vehicle. The startup had previously raised a total of $6.6m across rounds in February and October 2021.
The.com, the US-based creator of a low-code web development platform, emerged from stealth last month with $4.4m in seed financing from investors including public relations firm VSC’s corporate venturing vehicle, VSC Ventures. The round was led by VC firm NFX and also featured Sound Ventures, Village Global and angel investor Harry Stebbings.
Investment and wealth management tool producer TMX Group supplied an undisclosed amount of funding for ETFLogic, a US-based provider of research, data and portfolio management tools for financial advisors, on Friday. The company had previously received $4m in seed financing from ETFS Capital in 2019.
Bullieverse, the India-headquartered creator of an open-world metaverse, secured $4m on Friday from investors including cryptocurrency exchange OKX’s Blockdream Ventures vehicle, game development services provider Fundamental Games, smart lock developer Gate Labs and online gaming platform developer Rainmaker Games. The round also featured 6th Man Ventures, C2 Ventures, GravityX, Roark Fund, LD Capital, Good Games Guild, GenBlock Capital, Shima Capital, DWeb3 and ExNetwork Capital.
An undisclosed affiliate of conglomerate Sinar Mas has invested an undisclosed amount in Jendela360, the Indonesia-based operator of an online platform which links tenants and renters. VC firm Beenext had led a $1m round for the company in June 2020 that also featured Prasetia Dwidharma, EverHaüs and unnamed other investors.
StockViva, a China-based company which offers investment analysis from qualified professionals, received over $3m in series A funding from investors including industrial conglomerate Hong Huan Group today. The corporate was joined by Farquhar VC, Kharis Capital, AngelHub and undisclosed angel investors.
Peak Health, a US-based health insurer established by West Virginia University Medicine (WVU Medicine), has added health systems Marshall Health and Mountain Health Network to its shareholders. The financial terms of the deal were not disclosed but Peak Health will begin offering coverage to WVU Medicine’s employees and their dependents in January 2023 before a wider commercial launch planned for 2024.
Funds
Japan-headquartered business growth software and services provider Tanaakk has pledged $100m to a strategic investment vehicle called Hitseries Fund. It will focus on ‘discounted asset’ companies in Japan or the supply chain in the Americas, Asia Pacific or Europe, Middle East and Africa regions, providing $1m to $30m per deal.
Indonesia-based financial services firm Bank Rakyat Indonesia has committed another Rp 145bn ($10.1m) to its venture capital subsidiary, BRI Ventures, DealStreetAsia has reported, citing a stock exchange filing. The unit had collected Rp 150bn for its Sembrani Nusantara Fund as of late 2020 on the way to a projected Rp 300bn close but has not confirmed this capital will be allocated to that vehicle.
Additional reporting by Liwen-Edison Fu and Thierry Heles. Photo courtesy of ICON Technology, Inc.