A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.
Weekly corporate venturing deal net 22 – 26 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
Google visits the House for AI fund
UC Berkeley-related artificial intelligence companies could receive up to $120,000 under the university’s partnership with incubator the House and Google.
ING banks on sustainable investments with $123m
The financial services firm will invest $123m in sustainable businesses over the next three to four years, with the new fund to be led by Mark Weustink.
Partech targets African startups
Orange, Edenred and JCDecaux have put their weight behind Partech Africa, which has now secured more than $70m in funding towards its $123m target.
Block.One locks up $50m for blockchain fund
The blockchain software developer has set up an investment fund in partnership with TomorrowBC to target companies building products using its Eos.io platform.
Sinclair returns to Pioneer Square
Sinclair Digital has joined a range of fellow existing investors to provide $15m of fundng for startup studio Pioneer Square Labs.
Qihoo 360 activates $156m fund
Qihoo 360 Technology has joined forces with Beijing Cultural Center Fund to launch an investment fund aimed at internet and culture-focused companies.
Cisco identifies Aspect for $181m fund
Cisco is among the limited partners in venture firm Aspect Ventures’ second fund, which follows a $150m vehicle it launched in 2015.
Universal Electronics spells out Capital A investment
Capital A Partners has secured electronics technology producer Universal Electronics as a limited partner for a fund intended to close at $60m.
Exits
MTG had bought a 75% stake in Trace in 2014 in a deal that valued the media network operator at $54.4m.
Home24 to move into stock exchange
Rocket Internet-backed online furniture store Home24 is preparing an initial public offering for this coming summer.
ADP adopts WorkMarket in acquisition deal
ADP has paid an undisclosed amount to acquire the workforce management software supplier, which had raised $66m from investors including Accenture and SoftBank.
99.co has picked up Indonesia-based property listings portal UrbanIndo to expand in Southeast Asia, allowing Gree Ventures to exit.
Primary Data prepares to shutter
Data virtualisation software developer Primary Data is winding down after raising more than $100m in financing from investors including Dell.
Tulco proves a $65m fit for Figs
The round will enable medical apparel producer Figs to buy out its earlier investors, which include Crocs, leaving Tulco its only external backer.
Skyport Systems had raised $67m in funding from investors including Cisco Investments and was valued at $245m as of 2016.
IT
Enterprise cloud operator ServiceNow has backed Baffle as the company bolsters sales and marketing activities.
PacketFabric weaves $25m series B
PacketFabrics operates a network management service across more than 150 colocation facilities in 17 US markets.
Cumulus Networks drifts to $43m series D
The networking software provider boosted its total funding to $129m with a round led by Telstra Ventures and backed by all its existing investors.
Snowflake proves special in $263m round
Capital One Growth Ventures was among the existing investors in a round that valued the data warehousing software provider at $1.5bn pre-money.
Health
Ping An collects $1bn for healthcare unit
Ping An Insurance has raised almost $1bn in funding for its medical data analysis unit ahead of an initial public offering for the business, with investors including the SoftBank Vision Fund.
Roche co-led the biotechnology developer’s series A round, which also featured fellow corporate investor GlaxoSmithKline.
Tmunity gets timing right to raise $100m
Gilead Sciences, Ping An Ventures, Be The Match BioTherapies and existing investor Lilly Ventures Asia all backed the immunotherapy developer’s series A round.
The nutrition tracking platform developer has raised series B1 capital from investors including Blue Cross Blue Shield of Massachusetts unit Zaffre Investments.
Corporates help provide $11m for Protenus
Kaiser Permanente Ventures co-led the healthcare data security platform’s series B round, which included fellow corporate backer Cognosante.
Echo Health Ventures, a partnership between Cambia Health Solutions and Mosaic Health Solutions, co-led the health analytics platform’s series B round.
Media
SoftBank and Sequoia China have injected $50m into Snow, following the company’s pivot from offering an ephemeral messaging app to developing a selfie camera app.
Corporates deliver funding for Dely
Video recipe platform developer Dely has secured just over $30m from SoftBank, Akatsuki, United and Yahoo Japan, taking its total funding past $60m.
Kuaishou gets on course to raise $1bn
The photo, video and livestreaming platform is readying a $1bn round led by Tencent that will value it at $18bn in advance of a flotation later this year.
Consumer
Rakuten-backed Carousell was previously reported to have secured between $70m and $80m in its series C round, but financial documents now put the figure at $45.3m.
Floyd puts together series A funding
The boutique furniture producer, which counts La-Z-Boy as a strategic investor, has raised $5.6m in a round that included Beringea.
Carbon38 gets $15m out of Foot Locker
Luxury activewear seller Carbon38 has raised cash from Foot Locker, which also runs its own female activewear e-commerce brand.
SoftBank explores PolicyBazaar stake
SoftBank is considering investing in insurance marketplace PolicyBazaar, which already counts Intel as a backer, at an $800m valuation.
Ring readies itself for $160m round
The Qualcomm, JF Shea and American Family-backed home security technology provider would be valued at almost $1bn in the round.
Financial
Hippo makes a splash with $25m
The home insurance platform will use the proceeds from the series B round, which was co-led by Comcast Ventures, to expand its coverage geographically.
New York Life Ventures makes $200m mark
New York Life’s corporate venturing arm has provided $200m of capital for startups since it was established in 2012.
Dianrong develops series D to $290m
Bohai Leasing-backed peer-to-peer lending platform Dianrong added $70m in a series D extension led by Orix to the $220m it raised in August.
Energy and Natural Resources
Off Grid Electric connects to GE for $55m
GE Ventures has participated in a series D round closed by African solar energy provider Off Grid Electric as it moves into Ghana.
Stem stretches to $80m in series D
Activate Capital led the round’s first close, Stem’s previous investors including General Electric, Total, Iberdrola, Exelon, Mitsui and RWE.
CPPIB looks to ReNew with $144m
Canada Pension Plan Investment Board has bought secondary shares in the renewable energy developer, which is backed by corporate JV Jera.
EtaGen’s series C round generates $83m
KCK Group, American Electric Power, Centrica and Statoil all invested as the linear generator provider took its total funding to $133m.
Industrial
Anellotech processes $9m from Suntory
Suntory has now invested a total of $25m in the chemical and fuel production technology developer, and could add $6m more.
Comcast, Exelon and Syngenta invested alongside existing backers including Intel, DuPont, Verizon, USAA, NTT Docomo and Yamaha Motor.
Kingspan cements $10m Invicara investment
Construction data software provider Invicara has received $10m from building materials supplier and new strategic partner Kingspan.
SoftBank helps Katerra hammer out $865m series D
Construction services platform Katerra is now valued at more than $3bn, having secured new funding in a SoftBank Vision Fund-led round.
Transport
Ninja Van accelerates to series C
DPD Group was among the investors in the last-mile logistics provider’s latest round, which was reportedly sized at $87m.
Existing investor Rakuten returned to take part in a round that valued the Iberian and Latin American ride hailing platform at $1.4bn.
Kellogg packs funding into Cargo
In-car commerce service has raised $5.5m in follow-on seed funding from investors including Kellogg’s Eighteen94 Capital unit.
Alfahim enters Blacklane for series D round
Alfahim and existing investor Daimler Mobility Services were among the participants in the round, which was reportedly sized between $40m and $45m.
Mobike mobilises $1bn in funding
Chinese media reports state the Tencent-backed bicycle rental service has secured $1bn in funding from undiclosed investors.
Services
Roofstock houses $42m series C
Asia Pacific Land and SVB Capital have provided a $7m extension to Roofstock’s series C, bringing the round to a $42m close.
Aviva greets Ollie in $15m series A
The co-living space operator has been backed by Aviva and Moinian Group’s Currency M as it gears up to open more co-living spaces in the US.
SmartHR clears series B with corporate help
Cloud human resources management platform SmartHR has secured $13.8m in a Nissen and Tokio Marine & Nichido-backed round.
Lennar finds Opendoor in $135m round
Home builder Lennar supplied $100m in debt for the online property marketplace through a $135m round that also included Fifth Wall Ventures.
Knightscope wields $25m in funding
The amount includes the company’s mini-IPO, now increased to approximately $20m, and $5m in private placements from investors such as Konica Minolta.
