3 April 2017 – Panasonic Puts $100m into Corporate Venturing and Much More

Funds

Panasonic to put $100m into corporate venturing

German consumer product and industrial manufacturer Henkel has been exploring corporate venturing over the past year as part of a larger open innovation strategy, and has now formalised its investing by forming a dedicated venture capital unit, Henkel Ventures.

Intex enters corporate venturing with Rooter investment

Phoenix rises with corporate-backed fund

Government Department

Canada unveils 2017 budget

Exits

Alteryx processes $126m IPO

Ayondo aims to float at $158m valuation

Buzzfeed has quietly begun prep work for a 2018 IPO, unnamed industry sources have told Axios, although rival paper FT was doubtful. T

Akcea Therapeutics, which was spun out of Ionis Pharmaceuticals in 2015 to develop cardiometabolic disease treatments, has filed to raise up to $100m in an initial public offering.

Boston Scientific snatches Symetis for $435m

Sirrus proves the right formula for Nippon Shokubai

Ethicon extracts Torax in acquisition deal

Quixey closure reportedly due to Alibaba debt deal

Deals

News broke last week that SoftBank was lining up a $1bn investment in Southeast Asian ride hailing platform Grab, and now sources have told Bloomberg it could provide a mammoth $6bn in funding to another on-demand ride service, China’s Didi Chuxing.

Flipkart may have just raised $1bn, in a round backed by eBay, Microsoft and Tencent, but the drop in its valuation from $15.5bn in 2015 to $10bn reflects a downturn in India’s e-commerce sector in general, which this week’s Big Deal explores.

JD Finance, the financial services spinout of Chinese e-commerce firm JD.com, is reportedly raising funding at a $7.3bn valuation.

Tencent helps treat Haodaifu Online to $200m

Online grocery startups seem to have been more popular in Asia but now a Netherlands-based company called Picnic has come on the scene, raising $109m in a round led by NPM Capital, the private equity arm of trading group SHV Holdings.

Indian logistics service provider Delhivery has pulled in $100m from Carlyle Group and Tiger Global, and could extend the round to $150m, with Fosun potentially putting in $30m.

UCloud, the China-based cloud computing services provider backed by Bertelsmann and Legend Holdings, has raised $139m in a series D round co-led by Oriza Holdings and CICC Alpha.

Quantum computing circuit developer Rigetti Computing has disclosed $64m of funding across two rounds – a $24m series A featuring Bloomberg Beta and a $40m series B. The technology is still in a fairly nascent state but if quantum computing manages to take off in a big way that Bloomberg investment could generate a pretty substantial return.

Government Department

Benson Hill to grow with $25m series B

University Corner

Saphlux lights up $5m investment


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

31 October 2016 – Intel Capital invests $38m in 12 startups, MIT creates an Incubator called Engine and Much More

Investments

Chinese personal finance management platform U51 raised $310m in its series C round less than a month ago but has already added $84m from retail group InTime Commercial and asset manager Harvest Global Investments.

NBCUniversal invested $200m in Buzzfeed last year in a deal that valued it at $1.5bn post money, and it’s returned to add another $200m at a flat valuation.

Meanwhile, Unity Biotechnology, which is working on therapeutics for diseases relating to aging, such as osteoarthritis, glaucoma and kidney disease, has closed a $116m series B round.

And at the Intel Capital Global Summit, the CVC unit announced $38m of investment in 12 startups across the US, Canada, China and France.

One of those 12 deals was a $33.5m series D round closed by self-service business information platform developer Paxata, which Intel Capital led, taking the company’s total funding to $62m.

Rokid, the developer of an AI-equipped smart home device that can be operated by a user’s voice or physical gestures, has raised $65m in a series B round co-led by IDG Capital Partners, which was also among the investors in a $20m round last year.

Genomics Medicine Ireland, which is developing a genomics research platform based on work by Amgen subsidiary Decode Genetics, has raised $40m in a GV-backed series A round.

Emulate, a Harvard spinout developing organs-on-chips technology, has added $17m to a series B round now totalling $45m.

Precision Biopsy, a biotechnology spinout of Colorado University, yesterday expanded its series A round to $38.6m following a $5m extension supplied by investment firm Woodford Investment Management.

Deep learning technology startup Clarifai, a spinout of New York University, has received $30m in a series B round co-led by Qualcomm Ventures.

Funds

US-headquartered property consulting firm Jones Lang LaSalle has established a corporate venturing vehicle in India that will invest in real estate technology startups.

Russia-based textbook publisher Prosveshcheniye has agreed to launch an education technology accelerator with the Russian government’s Internet Initiatives Development Fund (FRII).

Nova Scotia has recapitalised the Nova Scotia First Fund with a total of $40m, with $29m being fresh funding and $11m coming from a cleantech fund that expired earlier this year.

L. Rafael Reif, president of MIT, announced the creation of the Engine, a new incubator that will provide funding initially through a vehicle with a target size of $150m.

Exits

Less than five months after it was spun out of Roivant Sciences, women’s health specialist Myovant Sciences has achieved the year’s biggest biotech IPO so far, raising $218m.

Ra Pharmaceuticals, developer of a blood disorder treatment, has raised almost $92m in a Nasdaq IPO that saw it float in the middle of its range.

Internet group Tencent and healthcare system Intermountain Healthcare have exited US-based genomics software developer Tute Genomics in an acquisition by genomic analysis company PierianDx, which paid an undisclosed amount.

Cybersecrity company Proofpoint has agreed to acquire US-based cloud security platform FireLayers for $55m, offering an exit to content delivery network operator Akamai Technologies.

Eyefluence, a US-based eye-movement tracking technology developer backed by corporates including chipmaker Intel, was acquired by internet technology provider Google yesterday.

Stanford University spinout iRhythm Technologies, a developer of arrhythmia diagnostics technology, went public on Nasdaq on Thursday in an initial public offering that valued the company at $107m.

People

Scott Coleman, formerly general manager of technology company Microsoft’s accelerator network Startup Growth Partners, has joined venture capital firm Ignition Partners.

Baochi Nguyen has joined IDG Ventures, the corporate venturing arm of US-headquartered IT media firm International Data Group, as vice-president of marketing.


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