DG Daiwa Ventures contributed to a $40m series B round for Yellow Card Financial while Vitol provided $37m in series C funding for VavaCars.
Fund
Avanta Ventures, the corporate venturing arm of US-based insurer CSAA Insurance Group, has formed a $225m Fund II, which will focus on early-stage companies working on insurtech, mobility and related areas such as fintech, cybersecurity, smart home and applied artificial intelligence. Its total capital under management now stands at more than $300m.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Yellow Card Financial | Cryptocurrency exchange platform | Financial | Nigeria | B | 40 | 19/09/2022 | Digital Garage/Daiwa Securities Group (DG Daiwa Ventures); Polychain Capital (lead), Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, Pat Duffy |
| VavaCars | Used car-focused online trading platform | Transport | Turkey | C | 37 | 20/09/2022 | Vitol |
| Incepto | AI-equipped medical imagery platform | Healthcare | France | N/A | 26.9 | 19/09/2022 | Axa (Axa Venture Partners); LBO France (Venture-Digital Health) (lead), Wille Finance, Karista, Bpifrance |
| Nutrition Technologies | Crop insect inspection platform | Industrial | Singapore | N/A | 20 | 20/09/2022 | PTT Public Company (PTT Venture Capital) (lead), Sumitomo Corporation, ING Corporation (ING Sustainable Investments); Mandala Capital |
| Sequence | Online B2B payment provider | Financial | UK | Seed | 19 | 20/09/2022 | Salesforce (Salesforce Ventures); Andreessen Horowitz (lead), Firstminute Capital, Crew Capital, Passion Capital, Dig Ventures, Fin Capital, 9Yards |
| InnerPlant | Plant physiology data…
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