Blockchain technology provider Venom Foundation is joining Iceberg Capital on a $1bn fund while BioNTech is paying $440m for portfolio company InstaDeep.

artificial intelligence

Funds

Venom Foundation, the creator of a Blockchain platform aimed at emerging markets, has teamed up with investment management firm Iceberg Capital to form a $1bn investment vehicle called Venom Ventures Fund. It will invest in developers of Web3 and decentralised applications from pre-seed to series A stage.

Bank of America has led the first tranche of US-based venture capital firm Mendoza Ventures’ third fund, which has a target of $100m for its final close. Another financial services firm, Grasshopper Bank, also contributed to the tranche along with unnamed others.

M&A

Pharmaceutical firm BioNTech has agreed to pay £362m ($440m) to acquire portfolio company InstaDeep, a UK-headquartered developer of artificial intelligence software for decision making. It had raised at least $107m as of a $100m series B in January 2022 featuring internet technology producer Google, artificial intelligence technology provider Group 42 and Deutsche Bahn Digital Ventures, part of public transport operator Deutsche Bahn. The deal could potentially include future performance-based milestone payments of up to £200m.

Funding

Original automotive equipment manufacturer Mando Corporation has provided an undisclosed amount of funding for iPin Labs, a creator of artificial intelligence-based indoor navigation technology, as well as self-driving software provider Nabifra and Multiple Eye, which provides cameras for 3D mapping. The investments were part of the HL Mando Mobility Techup Plus’ Season 4 programme, launched with accelerator operator Future Play in May last year.

Company Company description Sector Country Round Round size($m) Deal date Investors
Oxbotica Autonomous vehicle software developer Transport UK C 140 10/01/2023 MS&AD Insurance Group (Aioi Nissay Dowa Insurance), Eneos (Eneos Innovation Partners), Halma, Ocado Group, Tencent, ZF Group; BGF, Hostplus, Venture Science, IP Group (Kiko Ventures)
Xpansiv Environmental market-focused infrastructure provider Industrial US N/A 125 11/01/2023 Bank of America, Goldman Sachs
NextPoint Therapeutics Immuno-oncology treatment developer Healthcare US B 80 10/01/2023 Bayer (Leaps by Bayer) (co-lead), Sanofi (Sanofi Ventures) (co-lead), Dana-Farber Cancer Institute (Binney Street Capital); Invus, Catalio Capital Management, Sixty Degree Capital, PagodaTree Partners, MPM Capital Management, Gordon Freeman
Peppy Enterprise health services provider Healthcare UK B 45 11/01/2023 Sony (Sony Innovation Fund), Simplyhealth; AlbionVC (lead), Kathaka, MTech Capital, Felix Capital, Hambro Perks, Outward VC, Seedcamp
Hystar Hydrogen production electrolyser developer Energy and Natural Resources Norway B 26 11/01/2023 Mitsubishi Corporation, Nippon Steel Trading, Sintef/NTNU (Sintef Ventures); AP Ventures (co-lead), Finindus, Hillhouse Investment, Trustbridge Partners, Firda
Censinet Healthcare risk management software provider Healthcare US N/A 9 11/01/2023 MemorialCare Health System (MemorialCare Innovation Fund) (co-lead), UNC REX Healthcare (Rex Health Ventures) (co-lead), Cedars Sinai; Ballad Ventures (co-lead), LRVHealth, HLM Venture Partners, Schooner Capital, Excelerate Health Ventures
Visolis Carbon-negative biomaterial manufacturer Industrial US Seed 8 11/01/2023 Zeon Corporation (Zeon Ventures); BlueYard Capital (lead), Global Brain, First Bight, Acequia Capital
Jumppoint Logistics services provider Services China (Hong Kong) A 6.5 12/01/2023 Chinachem Group; MindWorks Capital (lead), Headline Asia, Philip Kuai, Hong Kong SAR Government (Innovation and Technology Venture Fund)
Open Forest Protocol Blockchain-based forest measurement technology provider Industrial Switzerland Pre-seed 4.1 11/01/2023 Byzantine Marine; Shima Capital, Übermorgen Ventures, Not Boring Capital, Mercy Corps (Mercy Corps Ventures), Big Brain Holdings, Valor Capital, unnamed angel investors
ReferWell Healthcare scheduling software producer Healthcare US B N/A 10/01/2023 Essen Health Care (Essen Ventures); Viewside Capital Partners (lead), Health Catalyst Capital, Connecticut Innovations 
Payex Licensed payment gateway provider Financial Indonesia N/A N/A 11/01/2023 Xendit
FocalPoint GPS software provider Transport UK N/A N/A 05/01/2023 General Motors (GM Ventures)
ICS-Net Operator of ingredient search service Shareshima Consumer Japan N/A N/A 12/01/2023 AirTrip, Creek & River (C&R Incubation Lab), Ashitaba Mirai
Edison Fu

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