Investment firm Fontanalis Partners invested an undisclosed amount yesterday in Elementum, a US-based spinout of supply chain services provider of Flextronics that has built a cloud platform for supply chain services. Elementum had raised $61m from Flextronics and venture capital firm Lightspeed Venture Partners as of February 2014 before adding an undisclosed sum from Aaron Levie, Jerry Yang, Dave Duffield, Jim Davidson and Mike Frandsen in April the same year.
Mark One, the US-based developer of a smart drinking cup, has secured $4m in funding from investors including Intel Capital, chipmaker Intel’s corporate venturing unit, TechCrunch reported yesterday. Felicis Ventures and Horizons Ventures co-led a $3m seed round for Mark One in 2014 and the startup had also received funding from Intel Capital’s Diversity Fund in the past.
Sofie Biosciences, a US-based molecular imaging technology developer backed by conglomerate Tata & Sons, closed an oversubscribed $3.7m financing round on Monday, securing the capital from undisclosed investors. Tata subsidiary Tata Industries joined MRM Capital and Cycad Group to provide $5m of series A financing for Sofie in 2013, after Cycad had participated in an initial $2m financing in 2010.
Record executive and music manager Guy Oseary invested an undisclosed sum in India-based entertainment streaming platform Saavn on Wednesday and has also taken a partner position. Saavn raised $100m in July 2015 at a $300m to $400m valuation from backers including media companies Bertelsmann and Liberty Media, the former of which took part through its Bertelsmann India Investments unit, as well as Tiger Global Management, Steadview Capital, Quilvest and Mousse Partners.
Statkraft Ventures, the corporate venturing arm of energy utility Statkraft, led a CHF3m ($3.1m) series A round for Switzerland-based smart grid technology developer Depsys on Tuesday that also included VNT Management and One Creation. Depsys’ GridEye technology is installed in the electrical cabinets of a power distribution grid and calculates the grid’s topology, helping with the integration of renewable energy.
Cisco Investments, the corporate venturing vehicle for networking technology supplier Cisco, invested an undisclosed sum in US-based, all-flash software defined storage technology provider Elastifile on Tuesday. Battery Ventures and Lightspeed Venture Partners provided $8m in series A funding for Elastifile in early 2014 before joining six undisclosed data centre and server companies for a $35m series B in January this year.
Digital marketing company Geniee invested an undisclosed amount in Indonesia-based mobile app marketing technology developer Galactic Multimedia on Tuesday. The companies plan to build a cooperative system that can help them expand their businesses in markets across Southeast Asia.
ProGlove, the Germany-based developer of a connected ‘smart glove’ for factory and logistics workers, has raised $2.2m in a series A round led by Intel Capital. The round also included Bayern Kapital and GettyLab, and ProGlove’s product has been built using Intel’s Edison wearables technology.
Recruitment technology provider Grupa Pracuj and Edenred Capital Partners have provided $2m of funding for UK-based human resources software developer Beamery, Tech City News reported yesterday. Beamery’s technology uses machine learning and big data to automate relationship tracking for recruiters.
Collokia, the US-based developer of a machine learning-based collaboration platform, raised $1.3m yesterday in a seed round co-led by software provider Globant and VC firm Fundo Pitanga. It will spend the capital on growing its commercial operations as it continues to expand its platform for use in industries including the IT sector.
Limitless, the US-based creator of a platform that allows users to create interactive virtual reality characters, has closed an oversubscribed seed round featuring mobile gaming company Colopl that was sized at “roughly $1m” according to VentureBeat. Colopl, which invested through its Colopl VR Fund, was joined by Gaea, Venture Reality Fund, Social Starts, CRCM Venture Capital, Sparkland Capital, Mission and Market, and angel investors Nick Rau, Jay Rifkin and Masi Oka.
IT company Patni Group has participated in a Rs 66m ($980,000) bridge round for India-based custom shirt provider Bombay Shirt Company, the Economic Times reported on Monday. The round included an undisclosed additional investor, and Patni participated as an existing backer, according to ET.
Corporate-backed VC fund High-Tech Gruenderfonds and MBG Baden-Wuerttemberg provided a six-digit euro amount of funding for Germany-based virtual reality roomglasses developer Immersight on Tuesday. The capital, which will support growth and product development, follows an undisclosed amount of funding from the same investors in late 2014.
