Wuxi SAIC Jinshi Innovation Industry Fund led SemiDrive’s $139m series B+ round while Next47 participated in Locus Robotics’ $117m series F.

Funds

Japan-based health and beauty product retailer Satudora Holdings has formed a corporate venturing arm called S Ventures. The fund will target startups developing products and technology to help solve social issues in the Hokkaido region.

Japanese automotive group Suzuki launched its first corporate venture capital fund, Suzuki Global Ventures, with $100m last month. It will invest in companies aiming to tackle social issues using next-generation automotive and decarbonisation technologies. VC firm World of Innovation Lab will help run the fund, which will target startups based in the US, Japan and India.

Public markets

Redaptive, the US-based energy efficiency technology group backed by property services firm CBRE and energy utilities Engie, Great Plains Energy and Evergy, cancelled a proposed $100m initial public offering.

Bankruptcy

BlockFi, the US-based crypto financial services provider backed by blockchain software producer Consensys, proprietary trading firms Capital Markets Trading and Akuna Capital, human resources provider Recruit, financial services firm Siam Commercial Bank and quantitative trading firms Hudson River Trading and Susquehanna International Group, has filed for bankruptcy.

Funding

Company name Company description Sector Country Round Round size($m) Deal date Investors
SemiDrive  Automated driving chip developer Transport China B+ 139 30/11/2022 SAIC Motor/Citic Securities/Wuxi City (Wuxi SAIC Jinshi Innovation Industry Fund) (lead); Sequoia Capital (Sequoia Capital China), Temasek (Vertex Ventures)
Locus Robotics Warehouse robotics manufacturer Industrial US F 117 29/11/2022 Siemens (Next47);  Goldman Sachs (Goldman Sachs Asset Management), Silicon Valley Bank, G2 Venture Partners, Stack Capital Group, Stafford Capital Partners, Hesta, Newton Investment Management North America, Gray’s Creek Capital, Hercules Capital, Bond, Scale Venture Partners
Trinomab  Monoclonal antibody drug developer Healthcare China N/A 104 29/11/2022 Zhuhai Gree Group (Gree Financial Investment), China Medical System; Kingray Capital (lead), Shenyin & Wanguo Securities (Shenyin & Wango Investment), Efund Capital, Wuxi Guolian Development, Jinhang Group
Freetech Intelligent driving technology developer Transport China B 100 29/11/2022 SAIC Motor (SAIC Hengxu Capital), BAIC (BAIC Capital), Shaanxi Automobile Group, Sun Life (Everbright Asset Management), TCL Technology; Chaos Investment (lead), Ao Peng Investment
Cajal Neuroscience Neurodegenerative disease drug developer Healthcare US A 96 29/11/2022 Bristol Myers Squibb, Evotec, Alexandria Real Estate Equities (Alexandria Venture Investments); The Column Group (lead), Lux Capital, Two Sigma Ventures, Dolby Family Ventures
Kore Power  Lithium-ion battery cell developer Energy and Natural Resources US N/A 75 30/11/2022 Siemens (Siemens Financial Services) (lead), Quanta Services, Nidec Motor Corporation, Honeywell (Honeywell Ventures); Trog Hawley Capital
Deepgram Speech recognition software provider IT US B 72 (updated) 29/11/2022 Citi (Citi Ventures), SAP (SAP.io); Madrona Venture Group (lead), Alkeon Capital Management, Tiger Global Management, Wing Venture Capital, Bossanova Investimentos
Rgenta Therapeutics  Oncology drug developer Healthcare US A 52 29/11/2022 AstraZeneca/CICC Capital (AZ-CICC Healthcare Investment Fund) (lead); Korean Investment Partners, Delos Capital
Verdant Robotics  Agricultural robotics technology producer Industrial US A 46.5 29/11/2022 Wilbur Ellis (Cavallo Ventures); Cleveland Avenue (lead), DCVC (DCVC Bio), Future Ventures, SeaX Ventures, Autotech Ventures, AgFunder
Greenwood Digital bank aimed at black and Latino customers Financial  US N/A 45 29/11/2022 NextEra Energy, Bank of America, Citi (Citi Ventures), PNC, Popular, Truist (Truist Ventures), Wells Fargo; Pendulum (lead), Cercano Management, Cohen Circle, The George Kaiser Family Foundation, TTV Capital
GoPizza Oven pizza brand Consumer South Korea C 45 30/11/2022 GS Group (GS Venture); CJ Investment (Timewise Investment), Mirae Asset, Big Basin Capital, Woori Bank, Pureun Partners, DS Asset Management, Capstone Partners Korea, Ncore Ventures, DSC Investment
Saltbox Flexible warehouse operator  Services US B 35 29/11/2022 Cox Enterprises (co-lead), Colliers, Lincoln Property Company, Flexport, Overline; Pendulum (co-lead), Playground Global, XYZ Capital, Fundrise, Kapor Capital, Wilshire Lane Capital
Zylo  SaaS product management platform  IT US C 31.5 29/11/2022 Coupa (Coupa Ventures); Baird Capital (lead), Spring Lake Equity Partners, Bessemer Venture Partners, Menlo Ventures, High Alpha
Pearpop Online influencer marketing marketplace Media US A 28 (updated) 29/11/2022 Avalanche (Ava Labs/Blizzard Fund); Seven Seven Six, Bessemer Venture Partners, Sound Ventures, C2 Ventures, Blockchange Ventures
Medical Informatics Corp Virtural care provider Healthcare US B 27 29/11/2022 Intel (Intel Capital) (co-lead), nCourage, Tempa General Hospital (TGH Innoventures); Catalio Capital Management (co-lead), Notley, DCVC, TMC Financing
Roboto Games Mobile game developer Media US A 15 29/11/2022 Animoca Brands, Ancient8; Andreessen Horowitz (lead), Merit Circle, Phil Chen, Jameson Hsu
Propagate Commercial agroforestry management platform Industrial US A 10 29/11/2022 Telus (Telus Pollinator Fund for Good); The Nest (lead), AgFunder, Techstars, Jeremy and Hannelore Grantham Environmental Trust (Neglected Climate Opportunities)
Drobe Personal styling service Consumer Japan B 7.6 30/11/2022 Japan Post (Japan Post Capital) (co-lead), Mitsubishi UFJ (Mitsubishi UFJ Capital), Sumitomo Mitsui Insurance (Sumitomo Mitsui Insurance Venture Capital), Aiful (AG Capital); Femto Partners (co-lead)
Amplio Electronic component sourcing service Services US Seed 6 29/11/2022 Flexport (Flexport Ventures); Construct Capital (lead), Slow Ventures, High Alpha Capital, Alpaca Venture Capital, unnamed angel investors
Netail Retailer-focused competitor identification technology developer Consumer US Seed 5 30/11/2022 Hong Kong Science and Technology Parks Corporation (HKSTP Ventures); Magarac Venture Partners (co-lead), Dr. Andrew Ng (AI Fund)
Yuimedi Medical data platform operator Healthcare Japan Pre-A 3.2 30/11/2022 Nippon Life (Nissay Capital), Ideo (D4V), Digital Garage (DG Daiwa Ventures); Coral Capital, Incubate Fund, Alchemist Accelerator
Burn Ghost NFT reward-based casual game developer Media US Seed 3.1 29/11/2022 DraftKings (Drive by DraftKings) (co-lead); Bitkraft Ventures (co-lead), Pillar VC
Ixana Wearable human-computer interface hardware developer Industrial US Seed 3 29/11/2022 Samsung (Samsung Next); Uncorrelated Ventures, Evonexus, Paradigm Shift, Hack VC
XDao DAO expansion software tool provider IT Singapore Seed 2.3 21/11/2022 Telos Foundation; Panony, DWF Labs, Grizzly Capital
Intugine Shipment tracking software producer Services India Pre-A 2.3 29/11/2022 Kaleesuwari Group, Schulte Group (Innoport); Mela Ventures (lead), Anshul Rai, Kashyap Deorah, Kanav Hasija
GreenSnap Plant-focused online community Media Japan N/A 1.4 30/11/2022 Toyoake Kaki
Yanekara Electric vehicle-focused hardware and cloud software developer Transport Japan N/A 1.2 24/11/2022 Mitsui Fudosan (31Ventures), SoftBank (Deepcore); University of Tokyo (Innovation Platform)
Hedgehog Medtech Headache treatment app developer Healthcare Japan Seed 1 30/11/2022 Ideo (D4V); Keio University (Keio Innovation Initiative), Scrum Ventures, Development Bank of Japan (DBJ Capital)
Canoe Corp Fresh breakfast delivery service Consumer Japan N/A <1 ($500,000) 30/11/2022 KLab (Anobaka) (lead); Anri, unnamed angel investors
Medivery Home delivery-focused pharmacy Healthcare Japan N/A N/A 22/11/2022 LAC
Rem3dy Health 3D printing-derived personalised nutritional food provider Consumer Japan N/A N/A 24/11/2022 Suntory Holdings
Roforco Online gaming platform developer Media US N/A N/A 29/11/2022 Dentsu Group (Dentsu Ventures Fund 2)
AetherAI Medical diagnostics technology developer Healthcare Taiwan N/A N/A 22/11/2022 Ono Pharmaceutical (Ono Digital Health Investment)
On-chain Autonomous Kernel (OAK) Web3 and decentraIised finance payment hub Financial  US N/A N/A 28/11/2022 Cardano (Emurgo Ventures)
SubQuery Blockchain data indexer provider IT New Zealand N/A N/A 28/11/2022 Cardano (Emurgo Ventures)
Edison Fu

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