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Deals
Uber has reaffirmed its partnership with Toyota, extending a pre-existing deal to include the development of an autonomous car-based ride hailing service, with Toyota investing $500m at a $72bn valuation as part of the deal.
Berkshire Hathaway has invested in One97 Communications, the Indian owner of financial services platform Paytm and e-commerce marketplace Paytm Mall.
SoftBank Vision Fund has joined forces with the international arm of ZhongAn Online P&C Insurance to launch an as-yet-unnamed joint venture with $200m in funding to sell ZhongAn’s technology to financial and healthcare companies in Asia-Pacific, including SoftBank’s portfolio companies.
Outset Medical, the mobile dialysis machine maker formerly known as Home Dialysis Plus, meanwhile added $132m in series D funding to its coffers thanks to Baxter Ventures, the Abu Dhabi state-owned Mubadala Investment Company and others.
Zhenkunhang finds corporate suppliers for $129m round
Cloudian stores $94m series E
Makeblock, the developer of a programmable robot kit that aims to teach children how to code, has closed a $44m series C round backed by Yuexiu Industrial Investment Fund, the corporate venturing arm of conglomerate Yue Xiu Enterprises, at a valuation of $367m.
Jacobio dispenses $55m series C
Funds
Singapore-based ride-hailing service Grab has added $250m to its Indonesia-focused corporate venturing unit.
Wisconn Valley Venture Fund surges with $100m
645 calls universities for $40m fund
Exits
The IPO frenzy continues as we head into the Labor Day weekend, with plenty of offerings. Meituan Dianping is still preparing its Hong Kong IPO, and sources have told Bloomberg that Tencent will buy $400m of shares in the offering as cornerstone investor.
Nio, the China-based smart electric vehicle producer backed by Baidu, Lenovo, JD.com and Tencent, made headlines earlier this year when reports emerged it was gearing up for a $2bn initial public offering.
X Financial, a China-based peer-to-peer lending platform backed by conglomerate Chow Tai Fook Enterprises, which is targeting a $250m IPO on the New York Stock Exchange.
Then we have Tubatu, a marketplace for home renovation contractors and interior designers, that is reportedly seeking $200m in its IPO on the Hong Kong Stock Exchange, which would provide an exit to 58.com.
Viomi Technology, which manufactures smart home appliances such as refrigerators and dishwashers, is meanwhile hoping to raise $150m when it lists on Nasdaq and that could prove a lucrative deal to Xiaomi, which owns nearly a fifth of Viomi (19.5% to be precise).
SurveyMonkey assesses $100m IPO
Gritstone girds itself for $80m IPO
Amgen, Celgene, Eli Lilly and Merck & Co all have reason to celebrate as their portfolio company Sutro Biopharma (whose underlying technology is based on research at Stanford University) gears up for a $75m initial public offering.
Alzheon relaunches IPO plans
Meanwhile Lyft, backed by Alphabet, Alibaba, GM, Magna International and Rakuten, is seeing an opportunity to go public before its rival Uber and has hired an advisory firm specialising in IPOs, Class V Group.
“Funky Chunk” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0