Great Wall Motors spinoff SVolt has filed for a $2.1bn initial public offering while several corporates are set to exit online publisher Note in its own IPO.
Public markets
SVolt Energy, an electric vehicle producer spun off by China-based carmaker Great Wall Motors, has filed to raise up to RMB15bn ($2.1bn) in an initial public offering on the Shanghai Stock Exchange’s Star Market. It had raised over $3.2bn as of a $943m series B-plus round in December 2021, from investors including laser equipment producer Han’s Laser Technology, automotive component maker Changzhou Xingyu Automotive Lighting Systems, consumer electronics manufacturer Xiaomi, heavy equipment manufacturer Sany and insurers PICC and Takiang.
Japan-based online publishing platform developer Note has filed for an initial public offering on Tokyo Stock Exchange and plans to issue an initial 210,000 shares priced at an estimated ¥300 ($2.11) each. Its investors include Shinsei Bank’s Femto Fund, which owns a 13.1% stake, media company Nikkei (6.1%), internet group Tencent (5.9%), internet company CyberAgent, through its CyberAgent Capital unit (4.4%), creator’s network Uuum (2.5%), broadcaster TV Tokyo Holdings (2.5%), Sumitomo Mitsui Banking Corporation’s SMBC Venture Capital unit (2%) and publisher Bungeishunjū.
Funding
| Company name | Company description | Sector | Country | Round | Round size ($) | Deal date | Investors | |
|---|---|---|---|---|---|---|---|---|
| Voyah | Electric vehicle brand | Transport | China | A | 698 (updated) | 21/11/2022 | Dongfeng Motor Group, Ganfeng Lithium, Bocom International, Sunwoda; Industrial and Commerical Bank of China, Bank of China (Bank of China Financial Asset Investment), Mixed Ownership Reform Fund, Jingkai Investment Fund, ABC Investments, Changjiang Industry Investment Group, Hongtai ApLus | |
| Rezo | Disease mapping technology creator | Healthcare | US | A | 78 | 17/11/2022 | GlaxoSmithKline (SR One) (lead); Andreessen Horowitz (a16z Bio + Health), Norwest Venture Partners, SV Angel, Liquid 2 Ventures, Hawktail | |
| Daylight | Neobank for the LGBTQ+ community | Financial | US | A | 15 | 18/11/2022 | Cuna Mutual Group (CMFG Ventures), Citi (Citi Ventures); Anthemis Group (lead), Kapor Capital, Gaingels | |
| Tenovos | Digital asset management platform | Financial | US | B | 10 | 20/11/2022 | Bertelsmann (BDMI) (co-lead); S4S Ventures (co-lead), Progress Ventures, Revel Partners, Dublin Capital | |
| AMFG | 3D-printing automation software developer | Industrial | US | N/A | 8.5 | 18/11/2022 | Intel (Intel Capital) (lead) | |
| Unagi | Fantasy sports gaming platform | Media | US | N/A | 4 | 15/11/2022 | Binance (Binance Labs) | |
| Sizekick | Size-finding software provider for fashion | Consumer | Germany | N/A | 1.3 | 18/11/2022 | Hohenstein | |
| Toss Lab | Messaging and communication software developer | IT | South Korea | N/A | 1.2 | 18/11/2022 | Kdan Mobile Software | |
| PlayPulse | Smart exercise bike producer | Consumer | Norway | N/A | N/A | 18/11/2022 | NetEase | |
| Onpier | Insurance services provider | Financial | Germany | N/A | N/A | 17/11/2022 | LVM Versicherung |
