Three carmakers helped semiconductor producer CanSemi raise $670m while 574 Invest, RATP Group and Groupe Chopard backed a $167m round for vehicle charging network Electra.

M&A

Payroll services provider Talenom has agreed to acquire Nomo, a Spain-based online accounting and tax platform developer, from financial services firm Banco Sabadell’s Innocells subsidiary. The company was incubated by Innocells and received €2.5m ($3m) in funding from the unit in January 2021.

Video game publisher Blizzard Entertainment intends to purchase Proletariat, a US-based multiplayer game developer backed by gaming group Take-Two Interactive Software, for an undisclosed amount, VentureBeat reported on Wednesday. Take-Two led a $20m series C round for the company in 2019 that took its total funding to over $28m.

Agribusiness and chemicals producer FMC Corporation has agreed to buy portfolio company BioPhero, a Denmark-based developer of pheromone-driven pest management technology, for about $200m. FMC subsidiary FMC Ventures, pharmaceutical firm Novo and Syngenta Ventures, a vehicle for agricultural group Syngenta, took part in BioPhero’s $17m series A round in March 2021.

Funds

Go-Ventures, the corporate venturing arm operated by Indonesia-based e-commerce and on-demand services firm GoTo, is set to close a $200m second fund in the third quarter of this year, DealStreetAsia has reported, citing people familiar with the matter. The corporate will put up 20% of the capital as a cornerstone investor while external limited partners including family offices and technology companies will provide the rest.

Haier Europe, an Italy-based subsidiary of China-headquartered electronics and appliances manufacturer Haier Group, has formed a corporate venturing and open innovation arm called Haier Europe Open Enterprise. The unit will back developers of smart home and appliance-related products covering areas such as artificial intelligence, the internet of things, food and beverages, e-commerce and grocery delivery.

Public markets

Weilong Delicious Global Holdings, a China-based spicy snack producer backed by internet technology group Tencent, is set to refile for an initial public offering sized at $500m, a source privy to the matter told Bloomberg. Tencent had participated in Weilong’s RMB3.6bn ($558m) pre-IPO series A round, in May 2021, which valued the company at about $10.8bn. CPE Capital and Hillhouse Capital co-led the round, which included Sequoia Capital China, Yunfeng Capital, Tianyi Ziteng, Oceanpine Capital, Hosen Capital and Haisong Capital. The company’s IPO was approved by the Hong Kong Stock Exchange in November 2021 but was later put on hold.

Funding

Company Company description Sector Country Round Round size($m) Deal date Investors
Guangzhou CanSemi Technology Semiconductor technology and product developer IT China N/A 670 30/06/2022 GAC Group (GAC Capital), SAIC Motor, BAIC Group; Guangdong Macao Semiconductor Industry Investment
Electra Ultra-fast EV charging station operator Transport France N/A 167 01/07/2022 SNCF (574 Invest), RATP Group, Groupe Chopard; Eurazeo (lead), RGreen Invest, Rive Private Investment, Serena Capital
Zilch Interest-free credit provider Financial UK C 160 (updated) 30/06/2022 Daily Mail and General Trust (DMG Ventures), Goldman Sachs (Goldman Sachs Asset Management); Ventura Capital, Gauss Ventures, M&F Fund, Limited Ventures
Twelve Carbon transformation technology developer Energy and Natural Resources US B 130 01/07/2022 Munich Re (Munich Re Ventures), Microsoft (Microsoft Climate Innovation Fund); DCVC (lead), Capricorn Technology Impact Fund, Carbon Direct Capital Management, Breakout Ventures, Elementum Ventures, Chan Zuckerberg Initiative
Soba No-code web3 game development platform Media Germany N/A 13.5 01/07/2022 FTX (FTX Ventures); Lightspeed Venture Partners (lead), Cherry Ventures, Point Nine Capital, TQ Ventures, Matthew Haag, Jack Dunlop, Tim Evans, Alvaro González de Buitrago
AlgiKnit Seaweed-derived biomaterials manufacturer Industrial US A 13 29/06/2022 H&M (H&M Co:Lab); Collaborative Fund (lead), Starlight Ventures, Third Nature Ventures, Horizons Ventures, SOSV
Modo Energy Energy storage-focused data analytics provider Energy and Natural Resources UK Pre-A 3.8 29/06/2022 Fred Olsen (lead); Triple Point Ventures, unnamed existing investors
Borderless Smart helmet and industrial software developer Industrial Japan B, debt and crowdfunding 3.2 01/07/2022 Hakuba Photo Industry, Takagi (Takagi Partners); unnamed private investors
Lemme Be Menstrual hygiene product manufacturer Healthcare India Pre-A 1.7 29/06/2022 Transworld Group (Wami Capital); Multiply Ventures, Sattva Family Office, Anicut Capital AIF, Grip Investment
Neomoon Latin America-focused, stablecoin-driven digital bank Financial US Seed <1 ($850,000) 01/07/2022 Algorand (Algorand INC, Algorand Foundation, Algorand Miami Accelerator); Borderless Capital (lead), Big Brain Holdings, Meld Venture, Optio Capital
Kakehashi SkySolutions Small business-focused human resources management service Services Japan N/A N/A 30/06/2022 MyNavi
Gaussy Warehouse digitalisation service Services Japan N/A N/A 01/07/2022 Mitsubishi Corporation and Mitsubishi Corporation LT, Prologis, Mitsui Fudosan (31Ventures), Mitsubishi HC Capital, Mitsubishi Estate; University of Tokyo (UTokyo Innovation Platform)
Claira AI-equipped document analysis software developer IT US N/A N/A 30/06/2022 Citi (Citi Spread Products Investment Technologies – Sprint)
School of Humanity Online high school operator Services UAE Seed N/A 29/06/2022 Education in Motion
Edison Fu

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