Bertelsmann vehicle BAI Capital co-led a $150m C2 round for payment card provider Stori while Sram and Mram supplied $100m in series A funding for blockchain ecosystem developer 5ire.

Funds

Deutsche Post Foundation, a foundation formed by postal services firm Deutsche Post DHL, and financial services firm Lombard Odier were among the limited partners that helped UK-based impact investment firm Systemiq Capital reach a €69m ($70m) first close for its second fund. The climate technology-focused vehicle has a €200m target and its other LPs include Andre Hoffman, The Grantham Foundation for the Protection of the Environment, Dara Holdings, Stephen Brenninkmeijer, Mark Cutifani, Erik Fyrwald and Chad Holliday.

Financial services firm Arab National Bank has teamed up with an unnamed Saudi state-owned tourism fund to form a SAR300m ($80m) scheme to back small and medium-sized businesses operating in the hospitality sector, providing up to SAR3m per company, Arab News has reported.

M&A

Jewel Paymentech, a Singapore-based payment fraud prevention technology developer backed by internet company GMO, has been acquired by artificial intelligence software provider Advance Intelligence Group for an undisclosed amount. GMO subsidiary GMO Payment Gateway led a series A-plus round of undisclosed size for the company in 2018, two years after a $1m seed round.

Bankruptcy

Modsy, a interior design platform developer that counts mass media group Comcast, media company Advance Publications, internet and technology group Alphabet and telecommunications firm Verizon, as investors, ceased operations earlier this month to undergo an insolvency proceeding, TechCrunch reported yesterday, citing an email from the company’s founder and CEO, Shanna Tellerman. It had raised over $70m as of a 2019 round featuring corporate venturing units Comcast Ventures and Advance Venture Partners.

Funding

Company Company description Sector Country Round Deal size($m) Date Investors
Stori Underbanked population-focused credit card provider Financial Mexico C2 150 18/07/2022 Bertelsmann (BAI Capital) (co-lead); GIC (co-lead), GGV Capital (co-lead), Lightspeed Venture Partners, General Catalyst, Vision Plus Capital, Goodwater Capital, Tresalia Capital, Davidson Kempner Capital Management [$50m equity funding], Davidson Kempner [$100m debt facility]
5ire Layer one blockchain network operator Financial UAE A 100 15/07/2022 Sram and Mram
Everdrop Sustainable cleaning agent producer Consumer Germany B 81.2 14/07/2022 Vorwerk (Vorwerk Ventures); Lombard Odier (unnamed impact fund), Sofina (lead), TriplePoint Capital, Felix Capital, HV Capital
CathWorks Medical equipment manufacturer Healthcare Israel N/A 75 12/07/2022 Medtronic
Robin Hybrid workplace provider Services US C 30 14/07/2022 Allegion (Allegion Ventures); Tola Capital (lead), Firstmark, Accomplice, Boldstart, Allegion Ventures
Apiture Digital banking service Financial US N/A 29 14/07/2022 Live Oak Bancshares (Live Oak Bank) (lead), Pinnacle Bank, BHG Financial; unnamed existing investors
Immotor Technology Sustainable battery exchange service Energy and Natural Resources China C 28 15/07/2022 PTT Public Company, Petronas (PIVL), Hyperchain Technology; Utrust Fund (lead), Pksha Sparx Algorithm Fund, Uone Capital
Phaidra Provider of AI-equipped industrial process management software IT US A 25 15/07/2022 Helena; Starshot Capital (lead), Ahren Innovation Capital, Mustafa Suleyman, Flying Fish Partners, Section 32, Character
UnCaged Studios Web3-driven gaming studio Media Israel A 24 14/07/2022 DraftKings (Drive by DraftKings); Griffin Gaming Partners, Vgames, Maverick Ventures Israel, 6th Man Ventures
Element Insurance technology developer Financial Germany B 21.7 15/07/2022 Versorgungswerk Zahnärztekammer Berlin (VZB) (lead); Mundi Ventures, Witan Group, Ilavska Vuillermoz Capital
Kitabeli Social commerce platform operator Consumer Indonesia N/A 20 18/07/2022 GoTo Group (Go-Ventures); Glade Brook Capital Partners (lead), AC Ventures, InnoVen Capital
Stationhead Social music platform developer Media US A 12 14/07/2022 Red Light Management, TMWRK, Round Hill Publishing, Avex Entertainment; Buttonwood Group Advisors (lead), Thomas Wesley Pentz Jr, Craig Kallman, Julie Greenwald, Kevin Liles, Jason Flom
Spinview Data visualisation software developer IT UK Pre-A 6.6 13/07/2022 Alchemmy; UK Future Fund, unnamed angel investors,
Hologram Video call-focused avatar provider Services US Seed 6.5 14/07/2022 Quantstamp; Polychain Capital (lead), South Park Commons, The Operating Group, Nascent, Inflection, Neon DAO, Foothill Ventures
Helios Sustainable steel production process developer Industrial Israel Seed 6 13/07/2022 Doral Energy (Doral Energy-Tech Ventures); At One Ventures (lead), Metaplanet, unnamed mining company
Super Mojo (Supermojo) Digital asset financing platform Financial US Seed 6 14/07/2022 DRW (DRW Venture Capital) (co-lead), Ripple, Gemini, Circle (Circle Ventures), BlockFi (BlockFi Ventures); BH Digital (co-lead), Draper Labs; Intersection Growth Partners (co-lead), Neuberger Berman (co-lead), Sfermion, Arca, Everyrealm, Arrington Capital, Crossbeam Venture Partners, FJ Labs, FBG Capital, OP Crypto, Red Beard Ventures
Xage Cybersecurity technology developer IT US B (extension) N/A 14/07/2022 Chevron (Chevron Technology Ventures)
Shanghai Top Numerical Control Technology (TopNC) Aerospace industry-focused manufacturing equipment provider Industrial China D N/A 15/07/2022 Legend Holdings (Legend Capital) (lead); Jiufite Management, Tide Investment, FC Innovation Fund
Edison Fu

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