Electric aircraft developer Heart Aerospace raised $35m from investors including Mesa Air and United, while several corporates are set to exit remote access software developer Openpath.

Funding Air carriers Mesa Air Group and United Airlines co-led a $35m series A round for Sweden-headquartered electric aircraft developer Heart Aerospace yesterday, the latter through corporate venture capital vehicle United Airlines Ventures. The round was co-led with Breakthrough Energy Ventures and also featured EQT Ventures and Lowercarbon Capital, both of which had participated in the company’s $2.1m seed round in May 2019 as part of a 19-strong consortium that included Norrsken Foundation. Online services provider Movile invested R$170m ($34m) in Brazil-based business-to-business finance provider Zoop last month through a primary and secondary share purchase, Istoe Dinheiro reported. The selling shareholders in the deal include Darwin Capital and the transaction followed a $10.6m round in October 2020 featuring Movile and Qualcomm Ventures, a subsidiary of mobile chipmaker Qualcomm, as well as Avalancha Ventures and Darwin Capital. Movile had supplied $18.3m for Zoop in 2018 following earlier funding from Qualcomm Ventures, Darwin Capital, Riverwood Capital and Avalancha Ventures. Netherlands-based cancer immunotherapy developer ISA Pharmaceuticals completed a €26m ($30.7m) funding round yesterday that included biopharmaceutical company Regeneron. The state-backed Invest-NL also participated in the round, as did undisclosed existing investors. ISA had raised a total of $26m as of a $10.4m round in 2013 featuring unnamed existing investors. Regeneron, by then also an existing investor, had provided an undisclosed amount of equity funding for the company through a June 2020 collaboration agreement, following a $22m loan from European Investment Bank in October 2019. Singapore-headquartered plant-based chicken brand Next Gen Foods increased its seed round to $30m yesterday, adding $20m from beverage producer Yeo Hiap Seng, GGV Capital, Bits x Bites, Temasek, K3 Ventures and angel investors including Chris Yeh and Dele Alli. The first tranche closed in February this year and included Temasek, K3 Ventures, supermarket chain Metro’s NX Foods subsidiary, Febe Ventures, Blue Horizon and Singapore Economic Development Board‘s New Ventures vehicle. NoTraffic, the Israel-based creator of an artificial intelligence system for traffic lights, has secured $17.5m in series A funding from investors including insurance group Menora Mivtachim, TechCrunch reported yesterday. VC fund Nielsen Ventures led the round, which also featured Vektor Partners, Grove Ventures, Meitav Dash, Lool Ventures, Next Gear Ventures and North First Ventures. The company had closed a $3m seed round led by Lool Ventures and backed by Next Gear, North First and unnamed individuals in 2018. Japan-based peer-to-peer lending platform developer Funds added an undisclosed amount from FFG Venture Business Partners, a subsidiary of financial services firm…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.