JD Group spinoff JD Industrials raised $300m in a series B round co-led by by G42 while Mizuho Bank led Kredivo’s $270m series D.
Funds
France-based venture capital firm Emblem raised €50m ($54m) from backers including enterprise payment services provider Edenred for the first close of a seed fund. The fund is expected to reach a €75m ceiling by the end of this year and has so far secured additional commitments from Vaekstfonden as well as unnamed family offices and entrepreneurs.
Kenya-based impact investment firm Factor[e] Ventures has formed Delta40, a venture studio focusing on climate change in Africa, having received funding from investors including law firm Wilson Sonisi as well as Autodesk Foundation and Ikea Foundation, on behalf of design software producer Autodesk and Ikea franchisee Ingka respectively. The initiative is also backed by Global Energy Alliance for People and Planet, Rockefeller Foundation and Bezos Earth Fund in addition to unnamed government, private sector and finance institutions.
M&A
Investment banking firm JP Morgan agreed to acquire portfolio company Aumni, a US-based investment analytics provider also backed by law firm DLA Piper, for an undisclosed sum. Aumni’s overall funding stood at nearly $64m as of a $50m series B round in 2021.
Funding
Qrtificial intelligence technology provider G42’s 42XFund co-led a $300m series B round for JD Industrials, the China-based supply chain technology subsidiary of ecommerce group JD Group, with Mubadala Investment Company. The round also featured M&G, EQT (through its BPEA EQT unit) and Sequoia China.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Kredivo | Digital financial services provider | Financial | Singapore | D | 270 | 23/03/2023 | Mizuho Bank (lead), Naver (Naver Financial Corporation), GMO (GMO Venture Partners); Square Peg Capital, Jungle Ventures, Openspace Ventures |
| Flare Therapeutics | Precision cancer medicine developer | Healthcare | US | B | 123 | 22/03/2023 | Pfizer (Pfizer Ventures) (co-lead), Eli Lilly, Memorial Sloan Kettering Cancer Center, Novartis; GordonMD Global Investments LP (co-lead), Boxer Capital, Boxer Capital, Eventide Asset Management, Invus Financial Advisors, Nextech Invest, Third Rock Ventures, Agent Capital, Pavilion Capital, ShangBay Capital |
| Kin Insurance | Direct-to-consumer home insurance platform | Financial | US | D | 109 (updated) | 22/03/2023 | Allegis Group (Allegis NL Capital), CSAA Insurance Group (Avanta Ventures); Geodesic Capital, QED Investors, Commerce Ventures, Flourish Ventures, Hudson Structured Capital Management, Alpha Edison, August Capital, Proof.VC. |
| Cognito Therapeutics | Neurodegenerative disorder drug developer | Healthcare | US | B | 73 | 22/03/2023 | Wilson Sonsini (WS Investment Company); FoundersX Ventures (lead), Alzheimer’s Drug Discovery Foundation, Starbloom Capital, IAG Capital |
| EpiBiologics | Antibody therapeutics developer | Healthcare | US | A | 50 | 22/03/2023 | Alphabet (GV); Mubadala Investment Company (Mubadala Capital) (co-lead), Polaris Partners (co-lead), Vivo Capital |
| Bitkeep | Cryptocurrency futures and copy trading exchange | Financial | Cayman Islands | N/A | 30 | 23/03/2023 | Bitget |
| 1Data | Robotic process automation technology developer | IT | China | B | 29.2 | 23/03/2023 | Pernod Ricard (Convivialite Ventures); CDH Investments (lead), IDG Capital, Eastern Bell Capital |
| Luma AI | 3D scanning technology provider | Media | US | A | 20 | 20/03/2023 | Nvidia (Nventures); David Beyer (lead), Mike Dauber, General Catalyst, Matrix Partners, South Park Commons, Andreas Klinger |
| Dope.security | Web cybersecurity technology developer | IT | US | A | 16 | 22/03/2023 | Alphabet (GV) (lead), Preface; Boldstart Ventures |
| Cocoon Bioscience | Complex recombinant protein producer spun off by Algenex | Industrial | Spain | N/A | 15.9 | 20/03/2023 | Viscofan; Columbus Venture Partners (lead), Cleon Capital, North South Ventures |
| Caramel | Online automotive sales facilitator | Transport | US | Seed | 12 | 22/03/2023 | Hearst (Hearst Ventures); Zeev Ventures (lead), Primera Capital |
| Piclo | Energy flexibility services marketplace | Energy and Natural Resources | UK | B | 10.2 | 22/03/2023 | Toshiba (Toshiba Energy Systems & Solutions), Eon (Future Energy Ventures) (co-lead); Clean Growth Fund (co-lead), Green Angel Syndicate, Sustainable Future Ventures, Japan Energy Fund |
| Windfall Bio | Methane conversion technology developer | Energy and Natural Resources | US | Seed | 9 | 22/03/2023 | Wilbur Ellis (Cavallo Ventures); Mayfield (lead), Breakthrough Energy (Breakthrough Energy Ventures), Untitled, B37 Ventures, Baruch Future Ventures, Bessemer Venture Partners |
| Mystifly | Corporate airfare payment marketplace | Financial | India | Pre-B | 8 | 23/03/2023 | Recruit (RSI Fund I), Jenfi; Cornerstone Venture Partners, Crusade Partners |
| Nami | IoT system integration technology provider | IT | Singapore | A | 7.9 | 23/03/2023 | Verzion (Verzion Ventures); Amavi |
| PocDoc | Mobile diagnostics technology developer | Healthcare | UK | Seed | 6.3 (updated) | 22/03/2023 | Simplyhealth (Simplyhealth Ventures); Forward Partners (lead), MMC Ventures |
| Butlr | Developer of space and occupancy measurement sofwtare | Industrial | US | N/A | 5 | 17/03/2023 | Qualcomm (Qualcomm Ventures) |
| Thoughtfull | Asia-focused digital mental health platform | Healthcare | Singapore | Pre-A | 4 | 23/03/2023 | IHH Healthcare; Temasek (Sheares Healthcare Group), Vulpes Investment Management, The Hive Southeast Asia |
| OneThird | Food scanning technology developer | Services | Netherlands | Seed | 2.9 | 23/03/2023 | Halma (Halma Ventures); Pymwymic (lead), Shift Invest, Oost NL |
| StarFive | RISC-V semiconductor technology developer | IT | China | N/A | N/A | 23/03/2023 | Baidu |
| NautilusLog | Maritime data software provider | Services | Germany | A | N/A | 23/03/2023 | Dettmer Group (D-Arbor Capital) (lead) |
| LiquidStack | Immersion cooling technology developer for data centres | Industrial | US | N/A | N/A | 22/03/2023 | Trane Technologies |
| Worldsensing | Sensor connectivity technology developer | Industrial | Spain | N/A | N/A | 23/03/2023 | Bentley Systems |
| Unikraft | Cloud workload management software provider | IT | Germany | Seed | N/A | 23/03/2023 | NEC (NEC Laboratories Europe) |
