A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.
Big Deal: Sina exits Toutiao in $1bn round
The social media company has scored a huge exit from news app Toutiao, exiting as part of a series D round that valued it at $11bn, 22 times the valuation at which it invested in 2014.
Fundraising
Boeing looks to HorizonX to fund innovation
The aerospace company will make strategic investments from its newly formed Boeing HorizonX unit and has already backed Upskill and Zunum Aero.
Shell hikes startup participation in India
The petroleum producer is establishing an accelerator scheme for cleantech, mobility and energy efficiency startups in India.
Tennet gets Set for LP position
Energy transmission operator Tennet has joined a list of limited partners for Set Ventures’ second fund that already includes Shell, Essent and PZEM.
Exits
Ovid to go over to public markets
Sanofi and Takeda-backed Ovid Therapeutics has filed to raise $86.3m in an initial public offering and plans to use the proceeds to advance its neurological disease treatments.
ReNew Power targets $600m in IPO charge
The wind and solar power producer has raised more than $850m in total equity funding, including $200m from Tokyo Electric Power and Chubu Electric Power this year.
IT
Actility advances to $75m series D
The internet-of-things technology developer has pulled in funding from backers including Robert Bosch, Foxconn, Inmarsat, Swisscom, KPN and Orange.
The flash storage technology developer’s series E round, led by existing backer Western Digital, has increased its total equity financing to $178m.
Synack syncs with corporates in series C round
Microsoft Ventures led the cybersecurity company’s $21.3m round, which included Singtel Innov8, Hewlett Packard Enterprise and existing backer GV.
Crunchbase processes $18m in new funds
Crunchbase, a VC database spinout of AOL, has added $18m to its coffers in a series B round led by Mayfield as it launches a new premium offering.
Valens values corporates in $60m series D
The deal featured both new corporate backers, including Delphi, Samsung and MediaTek, as well as returning investors Mitsui and Pegatron.
Intelsat kicks in funding for partner Kymeta
Satellite communications technology developer Kymeta has raised $73.5m in funding in a round that included Intelsat, weeks after the companies sealed a strategic partnership.
Syscloud connects to Comix Stationery for series A
Office supplies provider Comix Stationery was among the investors in a $21.7m round for the cloud exchange services provider
Health
ALung draws in Philips for $36m series C
Philips and UPMC have co-led a funding round for ALung Technologies, a Pittsburgh University spinout working on treatments for acute respiratory failure.
Frequency picks up investors for $32m series A
Frequency Therapeutics, which is working on a progenitor cell-related treatment for hearing loss, has closed a round featuring Alexandria Real Estate Equities.
Ortho stands tall to close series D
Medtronic-backed spine imaging technology developer Ortho Kinematics has raised $18.6m from undisclosed investors.
Cirius forms $40m series A round
Pharmaceutical firm Novo and Frazier Healthcare Partners co-led a round that will be used to advance the company’s liver disease treatment through phase 2b trials.
Venture firm Reimagined Ventures has led a round for the TigerMed-backed brain diagnostics device developer that took its total funding to $27m since 2013.
OM1 amplifies funding with $15m
Corporate venturing unit Wanxiang Healthcare Investments has taken part in a series A round for OM1, developer of a value-focused healthcare data analytics platform.
Intermountain increases Redox series B to $10m
Healthcare software integrator Redox has added $1m from Intermountain Healthcare to a series B round that has now closed at $10m.
Media
Online news publisher Mic, already backed by Axel Springer, has added Time Warner, Kyu Collective and You & Mr Jones to its shareholders in a series C round.
NetEase Cloud Music tunes up with $109m
Shanghai Media Group has led a series A round for the NetEase music streaming spinout that also featured a Hunan Broadcasting System investment subsidiary.
Consumer
The Disney and JF Shea-backed toy robot maker has now secured almost $110m in total, after a regulatory filing indicated it has secured $23m in new funds.
Flipkart confirms $1.4bn of CVC investment
Tencent, Microsoft and eBay provided the funding, which was formally announced alongside the acquisition of eBay’s India business.
Steamboat Ventures, a venture capital branch of entertainment and media conglomerate Walt Disney, made its second investment in the parenting e-commerce platform.
Financial
Upgrade reaches new level with $60m
Financial services providers Noah Holdings and CreditEase have put their weight behind Upgrade, which is launching an online consumer credit platform.
Trov signs up insurers for $45m round
Munich Re/HSB Ventures has led a series D round that also included Suncorp, Sompo Holdings and insurance technology producer Guidewire.
Energy and Natural Resources
Wells Fargo expands Innovation Incubator to $30m
The bank’s cleantech incubator, formed with the US Department of Energy three years ago, will also expand its interest to transport, sustainable agriculture and the microgrid.
Laidian plugs into $20m series A
Susquehanna International Group has co-led a $20m series A round for Laidian that will be used to expand its network of mobile device chargers.
Transport
Peloton catches corporates to raise $60m
Intel, BP, Nokia, UPS, Denso, Schlumberger, Volvo, Mitsui, Lockheed Martin, Okaya and Breakthrough Fuel all participated in Peloton Technology’s series B round.
Lyft’s series G goes up to $600m
Existing backer Rakuten has returned for a round that included a raft of investment firms, fueling speculation the ride hailing company is looking to go public relatively soon.
Otonomo opts for Delphi to lead $25m series B
Delphi Automotive has struck a commercial partnership with car data exchange platform Otonomo in addition to leading its latest funding round.
Services
Mitsui moves into Renoveru’s shareholders
The conglomerate has provided $11.8m for the real estate services platform and will work on a smart home offering in collaboration with the company.
Tink Labs targets $40m at $1bn valuation
The Foxconn and TCL-backed smartphone rental service is in talks to raise new funding at double the valuation at which it closed its last round in September.
