Battery recycler Ascend Elements and Geely spinoff Farizon each raised $300m while Saudi Aramco launched a $1.5bn Sustainability Fund.

M&A Electric scooter rental service Helbiz has agreed to merge with Wheels Labs, a US-based peer backed by electronics manufacturer TDK. Wheels had reportedly raised over $96m as of April 2021. Fund Aramco Ventures, a corporate venturing subsidiary of Saudi Arabia-based oil and gas producer Saudi Aramco, has formed a $1.5bn vehicle to back energy transition technology developers. Areas of interest for Aramco’s Sustainability Fund include carbon capture and storage, greenhouse gas emissions, energy efficiency, digital sustainability, hydrogen, ammonia and synthetic fuels. Funding CompanyCompany descriptionSectorCountrySectorRound size($m)Deal dateInvestorsFarizon Auto New energy commercial vehicle spinoff of Geely HoldingTransportChinaPre-A30026/10/2022Global Logistics Properties (Hidden Hill Capital) (lead), Alibaba (Transfar); Citic Securities Investment, Industry Foundation of Xiangtan, Mirae Asset, GLy CapitalAscend ElementsBattery recycler and upcyclerEnergy and Natural ResourcesUSC30027/10/2022SK Group (SK Ecoplant), Lithium Americas Corporation, Hitachi (Hitachi Ventures), Jaguar Land Rover (InMotion Ventures), TDK (TDK Ventures), Orbia (Orbia Ventures), Trumpf (Trumpf Venture), Doral (Doral Energy-Tech Ventures); Fifth Wall (Fifth Wall Climate Fund) (lead), At One Ventures, Oman Investment Authority, Gly Capital Management, Mirae Asset (Mirae Asset Capital & LS), Shinhan Financial Group (Shinhan GIB)TrigoAI-powered frictionless retail platformConsumerIsraelN/A10026/10/2022SAP, Rewe Group; Temasek (lead), 83North, Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, ViolaNew Dimension SystemsIndustrial software developerIndustrialChinaN/A9726/10/2022SoftBank (SoftBank China Venture Capital); Temasek (Vertex Ventures), China State Development & Investment Corporation (SDIC Venture Capital), Chengdu F&D Equity Investment, Bohai Industrial Investment Fund, Shenzhen Hui Captial SiMa.ai Machine learning platform developerITUSB16726/10/2022Dell Technologies (Dell Technologies Capital); MSD Partners (lead), Fidelity Management & Research, Amplify Partners, Wing Venture Capital, Alter Venture Partners, +ND Capital, Lip-Bu TanFlorynOnline lending firm Financial NetherlandsN/A65.326/10/2022NatWest OTI Lumionics Consumer electronics materials manufacturerIndustrialCanadaB5526/10/2022LG (LG Technology Ventures), Samsung (Samsung Venture Investment Corporation), Universal Display Corporation (UDC Ventures); Anzu Partners, The Family Office of Lee LauReap Web3 payment platform developerFinancial ChinaN/A4026/10/2022Payment Asia, Wanxiang (HashKey Capital); Acorn Pacific Ventures (lead), Arcadia Funds, Hustle Fund, Fresco CapitalGokomodoAgricultural supply chain platformIndustrialIndonesiaA26 (updated)27/10/2022Sinar Mas (Sinar Mas Digital Ventures); East Ventures (Triputra Agro Persada)Valence Security Security remediation software providerITUSA2526/10/2022Microsoft (M12), Porsche (Porsche Ventures), Akamai Technologies; YL Ventures, Alumni Ventures, Michael FeyIonbloxLithium-ion battery cell developerEnergy and Natural ResourcesUSB2426/10/2022Lilium, Applied Materials (Applied Ventures); Catalus Capital, unnamed investment firmAgroSpheresHealthy crop product providerIndustrialUSB2225/10/2022UM6P/OCP Group (Bidra Innovation Ventures), Wilbur Ellis (Cavallo Ventures); Lewis & Clark AgriFood (lead), Ospraie Ag ScienceAsk-AIEnterprise information platform for employeesITIsraelSeed925/10/2022Web Summit; Temasek (Vertex Ventures) (co-lead), State of Mind Ventures (co-lead), Firsthand Fund, GTMFund, Interplay Ventures, Gefen Capital, AGP, Guidestar, Ran Sarig, Efi Cohen, Barak Goldstein, Yakir DanielMemorable AIVisual asset analytics platformITUKPre-Seed2.7525/10/2022Bertelsmann (Bertelsmann Digital Media Investments); LDV Capital (lead), TenOneTen Ventures, AperiamVentures, unnamed angel investorsKolliderBitcoin-based derivatives exchange platformFinancial UKSeed2.3527/10/2022Alameda Research (Alameda Ventures), OKX; Lemniscap (lead), Castle Island Ventures, Polychain Capital, Pfeffer Capital, unnamed othersJagoMobile café technology…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.