KT and Kakao Ventures were part of AI chip developer Rebellions’ $72.8m series A round while Nvent helped provide $35.8m for cooling system provider Iceotope.

Funds

Japan-based internet company GMO formed a blockchain-focused corporate venturing subsidiary called GMO Web3 last month. The unit will support web3, non-fungible token and cryptocurrency technology developers through investment and the provision of industry know-how.

M&A

Smartphone manufacturer Hubei Xingji Shidai Technology acquired Meizu, a China-based peer backed by e-commerce group Alibaba, for an undisclosed amount in June, according to Bloomberg. Hubei Xingji is a subsidiary of automotive manufacturer Geely.

Funding

Company Company description Sector Country Round Round size($m) Deal date Investors
Rebellions Artificial intelligence microchip developer IT South Korea A 72.8 (updated) 06/07/2022 KT, Kakao (Kakao Ventures); Temasek (Pavilion Capital), Korean Development Bank, SV Investment, Mirae Asset Financial Group
Iceotope Data centre-focused immersion cooling technology developer Industrial UK N/A 35.8 06/07/2022 Nvent; ABC Impact (lead), British Business Bank (British Patient Capital – Future Fund: Breakthrough), SDCL Energy Efficiency Income Trust, Northern Gritstone, Pavilion Capital, Edinv
Oxbury Bank Agricultural banking service Financial UK N/A 23.8 05/07/2022 Frontier Agriculture, Hutchinsons Group; Hambro Perks, Grosvenor Food & AgTech
Onomondo IoT-focused wireless network operator IT Denmark N/A 21 05/07/2022 Smartteq (Verdane) (lead), AP Moller (Maersk Growth); People Ventures, The Danish Growth Fund
Metcela Cardiovascular disease drug developer Healthcare Japan 14 28/06/2022 Cyberdyne (CEJ Fund), Sony (Sony Innovation Fund), Japan Lifeline, Reazon Holdings 
Sanu Sustainable second home subscription service Services Japan A 14 (updated) 06/07/2022 Mitsui Fudosan (31Ventures), And Do, SBI Holdings (SBI Investment), Mizuho Bank (Mizuho Capital), Shizuoka Bank (Shizuoka Capital); Goldwin Play Earth Fund, Samurai Incubate
Dekoruma  Home décor platform Services  Indonesia C1 13.4 06/07/2022 SCG (Nexter Ventures); Bank OCBC NISP (OCBC NISP Ventura), GDN
SleekFlow Social commerce platform developer Consumer China A 8 06/07/2022 Alibaba (Alibaba Hong Kong Entrepreneurs Fund); Tiger Global (lead), Transcend Capital, Gobi Partners GBA (AEF Greater Bay Area Fund)
Raylo Smartphone subscription service Consumer UK N/A 7.7 06/07/2022 Telefónica (Wayra UK); Octopus Ventures, Macquarie
Kuradashi Social commerce marketplace focused on food waste reduction Consumer Japan N/A 4.8 06/07/2022 Hakuhodo DY (Hakuhodo DY Ventures), Rohto Pharmaceutical, Saibu Gas (SG Incubate), Shinsei Bank (Shinsei Corporate Investment); Ikemori Venture Support
Qiibee Blockchain-based B2B rewards platform IT Switzerland Seed 4.8 05/07/2022 Meet The People, R/GA (R/GA Ventures); Z5 Capital (lead), Ben Davey, Mainardo de Nardis, Phil Rubin
Mazin Factory-focused IoT technology provider IT Japan N/A 3 06/07/2022 Nippon Life (Nissay Capital); Global Brain, Keio University (Keio Innovation Initiative), Nobuhiro Ariyasu
Aidiot Data software and digitalisation consulting services provider IT Japan N/A N/A 06/07/2022 Hankyu Hanshin Holdings (Hankyu Hanshin Innovation Partners)
SustainaCraft Forest monitoring technology developer Industrial Japan N/A N/A 06/07/2022 Mitsubishi UFJ (Mitsubishi UFJ Innovation Partners 2)
Pixel Design and architecture-oriented digital studio Media UK N/A N/A 06/07/2022 Parfetts
OpenFin Enterprise productivity technology developer Financial US N/A N/A 06/07/2022 ING (ING Ventures)
Land of Conquest Decentralised finance-equipped video game developer Media Singapore N/A N/A 04/07/2022 Huobi (Huobi Ventures) (lead), Mirana Ventures, PopFun; CCV, New Start Ventures, NGC Ventures, K300 Ventures, CryptoPhd
Edison Fu

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