A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.
Weekly corporate venturing deal net 15 – 19 January 2018
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
Ring Capital notches up $172m for first fund
Danone, AG2R La Mondiale, Bred and BPifrance are among the limited partners for the recently launched, France-based venture firm.
AOI Tyo beams $5m to Spiral Ventures
The media and advertising group provided the capital for venture capital firm Spiral Ventures’ Asia fund, which has a $50m target.
IBM and Comcast state blockchain funding intentions
MState Growth Lab has raised a fund and accelerator for blockchain technologies, with commitments from IBM and Comcast Ventures.
Pi increases numbers with help from Hero
Hero Electronix was among the limited partners as venture capital fund Pi Ventures reached a $25m second close on its way to a $30m+ target.
MetLife unleashes $100m co-investment arm
The insurance group launched strategic investment vehicle MetLife Digital Ventures alongside an accelerator partnership with Techstars.
MediaMath works out corporate venturing equation
The marketing technology producer will be a partner for MathCapital, a newly formed venture capital fund that will operate out of the corporate’s head office.
Kuehne + Nagel and Temasek package investment agreement
The joint venture will target early-stage logistics services and technologies such as big data, predictive analytics and artificial intelligence.
People
BMW’s Noske notches up Alliance Ventures MD position
Christian Noske, previously a partner at BMW i Ventures and a double GCV Rising Stars winner for 2016 and 2017, has taken the MD role at Alliance Ventures.
Klawitter climbs aboard InMotion
Lars Klawitter has been appointed as InMotion Ventures’ executive director for strategic business, having spent more than a decade at Rolls-Royce.
Exits
Mercari prepares to go to market
Mercari, whose corporate backers include Mitsui, Itochu, United and GMO, has set its sights on a Tokyo initial public offering that would value it at more than $1.8bn.
Retailers compete for Boxed acquisition
American Express Ventures could exit bulk-buying e-commerce platform Boxed, which is considering acquisition offers of up to $500m.
Maoyan Weiying to promote $1bn IPO
The company, which holds the largest share of China’s mobile ticket retail market, is backed by Tencent, Meituan-Dianping and Enlight Media.
Luma takes acquisition route to Newell
Amazon Alexa Fund and GV have exited wifi router developer Luma, which had raised $22m, in an acquisition reportedly sized at more than $10m.
Cardlytics careers to $75m IPO
The purchase data platform, which has raised more than $200m in financing, is backed by investors including Aimia and Fidelity Information Services.
The CapitalG-backed online polling platform, valued at $2bn as of 2014, is reportedly in talks with banks for an offering later this year.
The corporate-backed cancer drug developer is reportedly valued at $1bn and is eyeing an initial public offering that could raise up to $200m.
IT
ShareChat builds network with series B funding
Xiaomi invested $5.8m in social networking app developer ShareChat as part of an $18.2m round that took the startup’s overall funding to almost $24m.
eStruxture expands funding with $180m
The Canderel-backed data centre operator has secured debt and equity financing that will be used to expand its portfolio of facilities.
Dell helps VDoo raise lucky $13m
The internet-of-things security technology startup has secured its first funding in a 83 North-ed round that included Dell Technology Capital.
GV led software bug detection platform Bugsnag’s latest round, which increased its overall funding to more than $17m altogether.
Beijing Trusfort locks up series B2 funding
SIG Asia was among the investors as enterprise device authentification technology provider Trusfort raised $18.6m.
Anomali attracts $40m in series D funding
The cybersecurity software provider boosted its total funding to $96m in a round featuring Telstra, Deutsche Telekom and existing backer GV.
Salesforce helps Bringg in $22m series B
Salesforce Ventures has contributed to a $12m second tranche of the supply chain software provider’s latest round, which already included Coca-Cola.
Nyansa calibrates $15m series B round
Intel Capital has led IT infrastructure management company Nyansa’s series B round, investing alongside existing backer Formation 8.
Health
The paediatric care platform has now raised more than $29m in total, closing a Wanxiang-backed round co-led by an affiliate of Access Industries.
Sparta ups performance for $7m series A
Qualcomm-backed physical performance analysis platform Sparta Science has raised series A funds as it looks to expand from sports into clinical health.
Zelgen sells Minsheng on $62m series B
Minsheng Life Insurance has co-led a series B round for Suzhou Zelgen, which is developing drugs for diseases including cancer.
Vaccitech gets GV-backed funding injection
The corporate venturing unit co-led the vaccine developer’s $27.1m series A round with Oxford Sciences Innovation and Sequoia Capital China.
Aprinoia traces corporates for series B round
The neurogenerative disease diagnostics technology developer has secured $11.1m in a ShangPharma and TaiAn Technologies-backed round.
HalioDx hails Sham in series B round
Sham Innovation Santé backed the immuno-oncology diagnostics technology developer’s series B round, which closed at $22.3m.
Media
Tencent and Globe Telecom were among the investors in a round that reportedly values the publishing platform at almost $400m post-money.
Consumer
301 seeks Urban Remedy in $17m round
Organic packaged food supplier Urban Remedy has secured new funding in a series B round led by General Mills’ 301 unit.
True Fit tries on $55m series C
Returning investor Intel Capital has reinvested in a round that took clothing personalisation platform True Fit’s total funding to more than $100m.
Liking Fit works out over $54m in funding
The company has revealed a $7.8m series B and $46.6m series C round, the latter featuring Terminus Technologies and the Focus Media-backed Guangkong Zhongying Capital.
Fosun helps place $80m in BingoBox
Automated convenience store operator BingoBox will use the proceeds from the Fosun-led series B round for expansion and technology development.
JD.com has become one of the largest shareholders in e-commerce platform Tiki following a round reportedly at least $44m in size.
Financial
Folio pages corporates for $63m
Line, Dentsu, Sumitomo Mitsui Banking Corporation and Mitsui are among the backers of the asset management platform’s series A2 round.
Visible Alpha invites banks to $38m round
Goldman Sachs led the financial research platform developer’s latest round, which included several other financial services firms.
Razorpay sharpens up with $20m
The GMO and Mastercard-backed business payment technology provider has closed a series B round co-led by Tiger Global and Y Combinator.
Axa Strategic Ventures has backed an Anthemis-led round of undisclosed size for online lending platform and technology provider Goji.
The cryptocurrency security system developer, which was backed by Maif Avenir at series A stage, has now raised about $84m altogether.
Energy and Natural Resources
The solar energy technology developer, which counts a range of corporates as past investors, has raised cash from Presidio Partners, Kline Hill Partners and Structural Capital.
Bidgely to build with $27m series C
Eon and Innogy will likely be joined by Constellation Technology Ventures for a round that took the energy use analysis platform’s total funding to $51m.
Industrial
Seurat manufactures series A round
Porsche, GM Ventures and Siemens Next47 have helped provide $13.5m that will help commercialise Seurat Technologies’ metal printing technology.
Transport
Uber closes $1.25bn SoftBank investment
The deal, closed alongside a multibillion-dollar secondary purchase, makes SoftBank the ride hailing company’s largest shareholder.
Alibaba reportedly acquires $3bn of Ofo shares
Alibaba has bought $3bn of shares in Ofo from another existing backer, GSR Ventures, according to a relative of GSR’s managing director.
Pony.ai rides momentum to raise $112m
Comcast Ventures and Legend Star took part in the autonomous driving startup’s series A round, which was co-led by Legend Capital.
Caocao Zhuanche charges to $155m
The Geely-backed, electric vehicle-equipped ride hailing platform has closed its series A round at a valuation of more than $1.5bn.
Go-Jek welcomes more corporates aboard $1.2bn round
Google, Meituan-Dianping and Temasek have joined a $1.2bn round for Go-Jek that incudes investments by JD.com and Tencent last year.
Services
Alibaba joins Space Cycle for series B
The fitness class operator has secured $15.6m in a round led by Alibaba’s Taiwan Entrepreneurs Fund II fund that will support expansion.
WeWork India gets Embassy as an investor
Real estate developer Embassy Group has provided $15.7m for WeWork India, a spinoff of co-working space provider WeWork.
JD.com has invited investors including Hillhouse Capital and Sequoia Capital China, to invest in its logistics subsidiary at a $10bn valuation.
Ziroom houses $621m in series A funds
Tencent was among the investors in a Warburg Pincus-led round that valued the accommodation provider, a spinoff from Lianjia, at $3.1bn.
