A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.
Big Deal: Uxin drives away with $500m
The used car e-commerce platform, backed by Baidu, Tencent, Legend Holdings and Bertelsmann, is one of many well-funded players doing battle in China.
Corporate venturing deal net: 16-20 January 2017
Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.
Fundraising
IDG Capital to take over IDG’s CVC business
China Oceanwide and IDG Capital have agreed to acquire IT media firm International Data Group, with IDG Capital to take on its corporate venturing interests.
Rocket Internet closes co-investment fund at $1bn
Rocket Internet Capital Partners has reached a $1bn final close at its hard cap, and will invest in deals together with its parent.
Suzhou provides input for $732m big data fund
Real estate developer San Sheng Hong Ye is among the limited partners for a venture fund formed by the city of Suzhou and private equity firm Shenzhen Capital.
France-based startup incubator campus Station F has secured Facebook as a partner along with e-commerce company Vente-Privee.
Oracle tells of Israeli accelerator
The software company is set to launch an accelerator scheme in Israel that will focus on startups operating in the cloud sector.
Corporates venture to French African Fund
Orange, Saham and FinanceCom are among the contributors to the cross-border venture fund, which was formed by Bpifrance and AfricInvest.
CreditEase clears $32m for Israeli tech fund
The online lender’s wealth management subsidiary has reached the first close of its second venture capital fund to be focused on Israel, and is targeting $50m for the final close.
Lenovo cops funding from Kopin
Kopin will invest in a subsidiary of Lenovo Capital and Incubator Group with a view to facilitating augmented reality (AR) headset development.
Concord Medical launches $150m healthcare fund
Radiotherapy and diagnostic imaging services provider Concord Medical has joined forces with investment firm ZRT for a strategic healthcare fund.
Northwestern Mutual follows through with plans for $50m fund
The insurance firm has launched a $50m unit called Northwestern Mutual Future Ventures that will invest in technologies that help people achieve financial security.
A total of 10 local corporates have each invested $1.5m in Engage, an accelerator and VC fund managed by Tech Square Ventures and supported by Georgia Institute of Technology.
People
Lam to hand over to Goldberg at Time Warner
Goldberg had been managing director and vice-president at Time Warner (TW) Investments, the corporate venturing unit of the US-listed media group, since 2001.
Brackeen, who is also a director and past chair of the Silicon Valley Forum, said: “As we build the innovation strategy at CSAA Insurance Group, we are looking for opportunities with a focus on mobility, dwelling and the sharing economy. The company is committed to innovation and these are dynamic areas in the marketplace right now. It’s an exciting place to be.”
Agusta promoted again at MDI Ventures
Agusta had joined MDI Ventures in 2015 as an investment associate before being promoted last year to be head of its Indigo incubator.
Comcast’s Catalyst Fund casts its Bond
Comcast Ventures has hired Kai Bond from Samsung Accelerator as principal, a role in which he will also head its Catalyst Fund.
Exits
ObsEva to search for $103m in IPO
The reproductive health therapy developer, which has raised more than $93m from backers including Novo and Merck Group, has set the terms for its initial public offering.
Microsoft spells out Maluuba purchase
Microsoft has acquired speech recognition specialist Maluuba for an undisclosed amount, providing investor Samsung Ventures with an exit.
Simplivity converges with HPE in $650m acquisition
The Swisscom-backed data centre software provider, valued at over $1bn in 2015, has been bought by HPE for $650m in cash.
Knightscope eyes $20m from public offering
Knightscope, backed by NTT Docomo, Konica Minolta and Flextronics, has opted for a regulation A+ offering that enables members of the public to buy shares.
IT
Neurala brainstorms $14m series A
Motorola Solutions Venture Capital has committed capital to a series A round that will help Neurala further improve its deep learning networks platform.
Zeotap locates Here for $12.8m series B
The funding, provided by a consortium including mapping specialist Here, adds to a $6.4m series A round secured in 2015 and a $1.3m seed round a year earlier.
Microsoft returns to InsideSales for $50m series E
Microsoft, a participant in the sales engine’s $60m series D round, has come back for a series E round led by Polaris Partners.
Deutsche Telekom has joined the mobile marketing platform’s investors in a series C round that boosted the company’s total funding to $84m since 2011.
Zoom enters series D stage with $100m
The video conferencing software producer raised its latest funding at a $1bn valuation, securing the capital from investors including Qualcomm Ventures.
CRM platform Xiaoshouyi raises $40m
Tencent led the customer relation management platform’s series D round, which included existing backers Sequoia Capital, Matrix Partners China and Zhen Fund.
Shenxing recognises Fosun for $14m round
Fosun’s Kinzon Capital subsidiary has co-led the series A round closed by facial recognition technology developer Shenxing Tech.
Zoho puts $10m into startup funding
The cloud software provider has reportedly invested nearly $10m in a total of five startups, including Zentron Labs and VTitan.
Mighty AI gets $14m series A1 reaction
Intel Capital led the artificial intelligence technology developer’s latest round, which included GV and Accenture Ventures, and which brought its total funding to more than $27m.
Health
Practo administers $55m series D
Tencent, which led a $90m series C round in 2015, has returned to lead a $55m series D round that also attracted Alphabet and new investor Recruit.
Amgen pitches up in SiteOne’s $15m series B
Pain management drug developer SiteOne Therapeutics has secured Amgen as a research and development partner and lead investor in its series B round.
Takeda funds a Maverick in $23m deal
Takeda has taken part in a series B round for therapeutic antibody developer Maverick Therapeutics as part of a collaboration deal sized at up to $125m in total.
Media
The Players’ Tribune publishes series C details
TPT, which operates as a media platform for content generated by professional athletes, has raised $40m in a GV-backed round that increased its total funding to $58m.
Studio71 records $56m investment
TF1 Group and Mediaset have injected cash into Studio71 in a deal that valued the online media company, a ProsiebenSat.1 spinout, at about $425m.
Corporates get on Hooq to invest $25m
Online film and TV streaming platform Hooq has raised funding from parent company SingTel as well as Warner Bros and AXN Investment, adding to $70m secured in 2015.
Consumer
Corephotonics captures corporates for series C
Samsung, Foxconn, Mediatek and an unnamed smartphone original equipment manufacturer made strategic investments in Corephotonics’ $15m series C round.
Letgo releases details of $175m round
Founding investor Naspers has joined a raft of VC investors for a round that boosted the fast-growing mobile commerce platform’s total funding to $375m.
Financial
Credible makes series B possible with $10m
The Orrick-backed online loans marketplace has now secured a total of almost $23m since it was founded in 2012, closing a round led by Regal Funds Management.
Fino Paytech calculates $22m funding influx
ICICI Prudential Life Insurance and existing shareholder ICICI Lombard have provided $22m to Fino Paytech, which is also backed by Intel and Bharat Petroleum.
CompareEuropeGroup selects SBI for $21m series A
SBI Holdings was among the participants in a round for CompareEuropeGroup, which provides automated advice on financial and home services plans.
Energy and Natural Resources
D.Light, which is backed by Mahindra & Mahindra, has received $5m in equity funding from Norfund and $5.5m in grants from Shell Foundation and Beyond the Grid.
DCNS spins out renewable energy arm with $107m
Naval defence equipment provider DCNS has formed a marine renewables subsidiary that is also backed by Technip Group, BNP Paribas and Bpifrance.
Industrial
Naspers has led a series C round for Farmlogs, a data analytics technology producer focused on agriculture, bringing its overall funding to $37m.
Gilo to take off with $30m from Kuang-Chi
Kuang-Chi’s GCI Fund has made its sixth investment and its first in the UK, supplying $30m in funding for aviation technology developer Gilo Industries.
Transport
Campanda makes tracks with $10.7m
Michelin’s travel services subsidiary has led the RV rental platform’s series B round, which also featured existing backer Ringier Digital Ventures.
The Autodesk-backed series B-1 round will support preparations for a space launch later this year, which could represent the first moon landing by a private company.
Services
UrWork moves into next stage with $58m
Property developers Junfa Group and Dahong Group joined a consortium including an Ant Financial affiliate to take the working space provider’s overall funding to $175m.
Shiftgig strives for $20m series C
The Renren-backed worker sourcing service has now raised $55m altogether and will spend its latest funding on product development, sales and marketing.
Cognizant proves it is made for Measure
Drone-as-a-service startup Measure has raised $15m in a series B round led by IT services provider Cognizant’s corporate venturing unit.
Wesfarmers-backed Icix, which monitors supply chains to ensure food safety, has received a cash injection from private equity firm Arrowroot Capital.
Resy books Airbnb into $13m round
Airbnb has led the series A round closed by restaurant booking platform and strategic partner Resy, investing alongside participants including First Data.
