17 July 2017 – A Look at Unicorns

Editorial: A Look at Unicorns

Funds

Toyota’s research division, Toyota Research Institute, has launched a dedicated corporate venturing fund called Toyota AI Ventures that will invest in artificial intelligence as well as robotics, autonomous mobility, data and cloud technology.

Partech Ventures, a US-headquartered venture firm with a significant presence in Europe,has closed its seventh VC-stage fund, Partech International Ventures VII, at $455m.

Global Brain heads for $180m close

Ground transport-focused venture firm Autotech Ventures, which had already revealed commitments from BorgWarner and Autoliv to its first fund, has now closed it at $120m.

Government

Hong Kong to launch matched venture fund

Singapore springs to action with new fund

University

Adelaide realises ThincLab

Exits

Set-top box producer Roku has hired underwriters for an IPO that could value it at up to $1bn, according to the Wall Street Journal.

The merger agreed by DraftKings and FanDuel in November was supposed to help them combat long-running regulatory issues, but those seem to have struck again.

Symantec finds Skycure in $250m acquisition

Fireglass to melt into Symantec

Baidu catches Kitt.AI

Samsung Next embarks on European trip

Government

SBI Life prepares $1bn IPO

Investments

Uber’s on-demand ride and food ordering operations in 21 cities across four countries in Eastern Europe will be merged with Yandex Taxi, a subsidiary of Russian internet company Yandex, in a deal that will create a $3.7bn company, of which Uber will own 36%.

Co-working space provider WeWork has raised $760m in a series G round that reportedly increased its valuation to $20bn.

Artificial intelligence technology provider SenseTime has completed a $410m series B round featuring Dalian Wanda that reportedly valued it at more than $1.5bn.

Shouqi Limousine and Chauffeur, a ride hailing offshoot of services Shouqi Group and Xianglong Taxi, has raised $88m in series B funding from an undisclosed investor at a valuation of about $750m.

Darktrace, the developer of a cybersecurity platform that looks to mimic the human immune system, has received $75m in a series D round led by Insight Venture Partners that valued it at $825m.

E-Scape Bio has reached the final close of a $63m series A round featuring Novo as well as CVC units Lilly Asia Ventures, Johnson & Johnson Innovation – JJDC and Novartis Venture Fund which E-Scape will use to advance its pipeline of neurodegenerative disease treatments.

Growth equity firm Spectrum Equity has acquired a majority stake in link management platform Bitly in return for a $63m investment.

CompareAsiaGroup, the operator of a comparison platform for financial products in Southeast Asia, has closed a $50m series B round that included Alibaba and SBI Group.

Government

Floadia flows towards $14.5m series B

University

NYGC spins out Gencove

Phytelligence harvests series B


“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0

10 July 2017 – Looking to the End of Summer

Editorial: What do people want when the summer is over?

Funds

AT&T has been relatively quiet while competitors like Verizon, Telstra and SoftBank have made great strides in corporate venturing, but that may be about to change with the formation of a strategic investment fund in which the telecom firm plans to invest up to $200m.

Autoliv moves $15m to Autotech Ventures

Vinci helps Axeleo draw up first close

Government

RCIF gains $1bn

EIF buys into $198m Cipio fund

Germany awards funding to 48 institutions

Enterprise Ireland launches $68m fund

University

Tel Aviv heads to India

UC Riverside launches $10m Highlander fund

Exits

Jawbone raised hundreds of millions from investors such as Deutsche Telekom as it moved from Bluetooth-enabled speakers to wearable fitness trackers, and at one point was raising cash at a $3bn+ valuation. All that appears to have ground to a halt however, as reports suggest the company has begun liquidation proceedings, weakened by a Fitbit lawsuit and done in by the flatlining wearables sector.

Roche eats up MySugr

Delivery Hero has raised more than $1.1bn in an IPO that enabled the Rocket Internet-owned Global Online Takeaway Group to sell about $148m of shares.

Gaming product maker Razer has filed for its own IPO, in Hong Kong, and is set to raise more than $600m according to TechCrunch.

Sienna to scratch IPO itch

Internet service provider MyRepublic may have failed in its bid to become Singapore’s fourth big telecom company, but it still plans to float by the end of 2018,

Online storage technology platform Dropbox has begun preparations for what will likely be the biggest tech IPO since Snap went public in March, and will shortly begin interviewing investment banks for the underwriting positions.

Canada-based bone disease therapy developer Clementia Pharmaceuticals has filed for a $115m IPO in the US that will provide an exit to strategic backer UCB Pharma, after the latter took part in a $60m series B round for the company in 2015.

Investments

China Money Network today launches the China Unicorn Ranking 2017, the most complete list of all private start-ups in China currently valued at $1 billion or more.

Just weeks after Mobike closed a $600m funding round, its main rival in the bike sharing sector, Ofo, has raised $700m in a series E round led by Alibaba.

Kakao drives $437m mobility spinout

Tencent invested $44m investment in Coocaa, the smart television subsidiary of Skyworth Digital Holdings, last month, and it’s now repeated the trick, paying $66m for a 16.7% stake in TCL’s smart TV unit, Shenzhen Thunderbird Network Technology.

Steel producer Shougang has co-led a $73m round for online steel trading and services platform Zhaogang through a private equity vehicle called West Fund.

Headspace, the developer of a meditation and mindfulness platform that mixes a subscription-based guided meditation service with themed text and video content, has raised $36m in a round led by growth equity firm Spectrum Equity.

Axonics Modulation Technologies, the developer of an implantable neuromodulation system, has added $20.5m to a series C round that now stands at $35m.

Theva conducts $8m in EnBW-backed round

University

MuMac eyes first round


“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0