SoftBank led contract management platform developer LegalForce's $102m series D round while several corporates exited logistics service provider GogoX in an $85m IPO.

Public Markets

China-based logistics service provider GogoX went public today in an $85m initial public offering on the Hong Kong Stock Exchange that provided exits for corporate investors Cainiao, 58.com, Singapore Press Holdings, Renren and Alibaba. The company had raised at least $377m altogether, as of a $100m round in July 2021. Its share price fell 22% on its first day of trading, giving it a market capitalisation of about $1.3bn.

SoCar, the South Korea-based car sharing service backed by telecommunications and internet group SoftBank, has set the range for an IPO on the Korea Exchange that could net the company KRW207bn ($159m) if it floats at the top of its range, Reuters reported today. The offering is set to consist of 4.6 million shares priced at KRW34,000 to KRW45,000 each. It had accumulated $275m in funding as of late 2020, when it secured $50m at a reported valuation of over $830m.

M&A

Banking software provider Colendi has paid an undisclosed amount to acquire Setl, a UK-based payment settlement technology provider backed by professional services firm Deloitte and financial services provider Credit Agricole. Setl had raised a total of about $39.5m as of a Deloitte investment in 2016, before Crédit Agricole added an undisclosed amount two years later.

Other funding

Company Company description Sector Country Round Round size ($) Deal date Investors
 LegalForce  Contract management software provider Information Technology Japan D  102 23/06/2022 SoftBank Vision Fund 2 (lead),  Mizuho Financial Group (Mizuho Capital), Mitsubishi UFJ Financial Group (Mitsubishi UFJ Capital);  Goldman Sachs, Sequoia China, World Innovation Lab. 
DEM BioPharma Tumour immunotherapy developer Healthcare US N/A 70 23/06/2022 Pfizer (Pfizer Ventures), Astellas (Astellas Venture Management), Alexandria Real Estate Equities (Alexandria Venture Investments); Longwood Fund (co-lead), Alta Partners (co-lead), Emerson Collective, UTokyo Innovation Platform
Hokodo Enterprise buy now, pay later service provider Financial  UK  B 40 23/06/2022 (BNP Paribas (Opera Tech Ventures); Notion Capital (lead), Korelya Capital, Mundi Ventures 
Evinced  Software development technology provider Financial  US B 38 23/06/2022 Capital One (Capital One Ventures), Microsoft (M12); Insight Partners (lead), Benhamou Global Ventures, Engineering Capital
Medallion Healthcare services management platform   Healthcare US C 35 23/06/2022 Alphabet (GV) (co-lead), Salesforce (Salesforce Ventures), Optum (Optum Ventures); Spark Capital (lead), Sequoia Capital, BoxGroup, Elad Gil
Statiq Electric vehicle charging network Energy and Natural Resources India  A 25.7 23/06/2022 Shell Ventures (lead)
Airspace Link Drone safety software provider Industrial US B 23 23/06/2022 CSAA Insurance Group (Avanta Ventures) (lead), Thales;  Morningside, Caprock, Altos Ventures, Indicator Ventures, 2048 Ventures, Detroit Venture Partners
Cryptoys  An NFT startup for children Financial  US N/A 23 23/06/2022 Mattel, Dapper Labs, Animoca Brands; Andreessen Horowitz (a16z Crypto, Draper & Associates, Acrew Capital, CoinFund, Sound Ventures
Hadrian Cybersecurity software provider Information Technology Netherlands Seed 11 23/06/2022 Holtzbrinck (HV Capital) (lead); Picus Capital, Slimmer AI, Adriaan Mol, Koen Köppen and Niklas Hellman
Matter Electric motorcycle developer Transport India N/A 10 24/06/2022 Info Edge (Info Edge Capital 2B Fund 1); Climate Angel Fund 
Symbrosia Seaweed to feed additive producer Industrial US A 7 23/06/2022 Danone (Danone Manifesto Ventures), Sumitomo (Presidio Ventures), Kamehameha Schools; Pacific6, Hatch, Mana Up
Philduct  Provider of 3D-printed orthodontic products Healthcare Japan 1.1 23/06/2022 Segment; Mistletoe Japan (lead), Open Ventures 
Seam Low-alcohol drink brand Consumer Japan N/A .46 23/06/2022 Opt (Bonds Investment Group)(lead); iFund, Hiroshima Venture Capital, Full Commit Partners
Jinger Back-office software provider Information Technology Japan A N/A 23/06/2022 Link and Motivation
Asimily Risk management software provider for connected devices Information Technology US N/A N/A 23/06/2022 MemorialCare (MemorialCare Innovation Fund); Ridge Ventures (lead)