Tag: iFlix

20 March 2017 – Netflix’s Regional Rival iFlix Secures $90m and Much More

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Although Netflix is the global market leader when it comes to online video streaming subscription services, regional rivals are beginning to raise substantial sums, particularly in Asia where iFlix has just secured $90m at a valuation of more than $500m.

Deals

DraftKings, which counts Fox Sports and sports leagues MLB, NHL and MLS as investors, has raised $100m in a series E1 round led by investment firm Eldridge Industries, taking its overall funding to some $630m.

Tencent and Baidu have co-led an $87m round for Nio, the Chinese smart electric vehicle developer formerly known as NextEV.

Public-private partnership Innovation Network Corporation of Japan (INCJ) meanwhile partnered healthcare companies Takeda Pharmaceutical and Medipal Holdings to launch Japan-based biotech firm Scohia Pharma.

Microsoft Ventures is keeping up the pace of its investment so far in 2017, contributing to a $52.5m growth round for Livongo Health, the developer of a digital diabetes management system.

The ad-for-equity space continues to grow, with news that recruitment platform Job Today has closed a $35m deal with Astremedia, RTL Germany and German Media Pool.

Innovium, the silicon data centre equipment developer that emerged from stealth last June, has secured $38.3m in a series C round that included returning investor Qualcomm Ventures.

SolarisBank has created what it claims is the first financial services-as-a-platform offering, an online marketplace through which external partners can offer their own digital banking services.

UK-based cellular immunotherapy developer Cell Medica closed a £60m ($73m) series C round today from a consortium that included Touchstone Innovations, the investment firm spun out of Imperial College London.

Oxford University has joined forces with private equity and VC firm Kingsley Capital Partners for a research program into the use of cannabinoids to treat a range of acute and chronic conditions.

Funds

Pivotal BioVenture Partners has closed its first fund with $300m of capital from Chinese property developer Nan Fung Group, and plans to target transformative therapeutics, with infectious diseases, immunology, oncology, ophthalmology and orphan disease treatments all on the table.

Spectrum Health is the latest US healthcare system to form a corporate venturing subsidiary, committing up to $100m for Spectrum Health Ventures over the next decade.

VC firm 500 Startups has announced a $10m fund aimed at startups based in Latin America, attracting the International Finance Corporation (IFC), the private sector arm of the multilateral financial institution World Bank, as a limited partner.

The government of Indian state Karnataka has launched a Rs100m ($1.5m) proof of concept fund aimed at women entrepreneurs.

Bpifrance, the public investment bank of France, has committed €75m ($80m) to an investment fund currently being raised by private equity firm Bridgepoint, Les Echos has reported.

US-based fintech-focused venture capital firm TTV Capital has closed a $93m fund backed by Invest Georgia, a long-term investment program backed by the US state of Georgia, FinSMEs reported yesterday.

Exits

MuleSoft, Alteryx and ForeScout all have offerings on the way, and now it looks like they’ll be joined by big data management software provider Cloudera, which has reportedly filed paperwork for its IPO confidentially.

Speaking Alteryx, the data analytics software provider has set the terms for an IPO that will give Thomson Reuters an exit, and it could raise $126m if it floats at the top of its range.

Chinese instalment buying platform Fenqile is said to be preparing for its own US flotation, in which it aims to raise $600m.

TechStyle, the fashion e-commerce company formerly known by the name of its JustFab brand, has reportedly hired JPMorgan Chase to seek out a buyer in a prospective deal that would value it at $1.5bn.

Renewable chemicals technology developer Avantium has raised $109m in an initial public offering in Europe that allowed investors including Coca-Cola and Swire Pacific to exit.

Germany-based gesture tracking software developer Gestigon, backed by public-private partnership High-Tech Gründerfonds (HTGF), was acquired by automotive supplier Valeo for an undisclosed sum.

US-based pharmaceutical company GE Healthcare has acquired Monica Healthcare, a medical device spinout of Nottingham University, for an undisclosed sum.

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

13 March 2017 – Airbnb Closes Series F, IPO for Snap and Much More

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Deals

Airbnb has closed its series F round at just over $1bn, bringing its overall equity funding to $3.4bn.

Instacart, the company touted as ‘the Uber of grocery shopping’, has raised $400m at a $3.4bn valuation, with VC firm Sequoia leading the round with a reported $100m investment. Interestingly, none of Instacart’s corporate investors – Comcast Ventures, American Express Ventures and Whole Foods – were named as participants in the series D round.

Alibaba has spent around $250m in a secondary transaction to boost its stake in One97 Communications by an extra 4.3%, giving exits to Reliance Capital, Sapphire Ventures and Saama Capital in the process.

BBVA has led a $102m funding round for mobile banking app Atom Bank, investing just over $36m at a $320m valuation to maintain its 29.5% stake.

Baidu is said to be lining up a $100m investment in NextEV, the smart electric vehicle developer that unveiled what it claims is the world’s fastest electric supercar in November.

Liberty Global and Zain have joined existing backers including Sky and the CAA-backed Evolution Media Capital to invest $90m in iFlix, which has brought the Netflix template to Southeast Asia.

Ping An Overseas Holdings has led a series C round for livestreaming platform and communication services operator Bigo that valued it at $400m.

Spero Therapeutics, a biopharma working on treatments for superbugs, has completed an oversubscribed series C round, raising $51.7m.

Viva Republica, the Korean developer of mobile payment platform Toss, has picked up $48m in a series C round featuring PayPal which Forbes estimates values the company at roughly $250m.

Biohaven Pharmaceutical, a biopharmaceutical spinout of Yale University, yesterday closed an $80m series A round from investors that included spinout-focused investment firm Osage University Partners.

Funds

Joyme Capital, the CVC arm of online gaming community operator Joyme Group, has teamed with gaming services provider Kee Ever Bright Technology to launch a strategic investment fund that will back game developers, eSports companies and gaming ancillary service startups among others.

US-based microfinance non-profit organisation Accion has launched a $141m financial technology and services investment fund with contributions from limited partners including the World Bank’s private sector investment arm International Finance Corporation.

The Cradle Fund, an investment vehicle owned by the government of Malaysia, has announced DEQ800, an initiative that will offer early-stage equity to startups, Tech in Asia wrote on Monday.

Uniseed, the venture fund backed by four Australian universities and research institute CSIRO, has announced a A$20m ($15m) fund that will make follow-on investments in existing portfolio companies.

Exits

Snapchat owner Snap has formally closed an IPO that featured a $500m investment by NBCUniversal at $3.91bn, after its underwriters took up the option to buy an additional $410m in shares following a heady first two days of trading last week, with the company’s stock at one point up more than $12 from its flotation price.

Now that the dust is starting to clear from Snap’s flotation last week, onlookers are getting ready for the next big tech IPO, with MuleSoft setting terms for an offering that will net it $182m in proceeds and a $2bn+ valuation if it floats at the top of its range.

CA Technologies has agreed to buy cloud security platform Veracode in a $614m cash deal that will provide exits for backers including Telus, Tivo and Symantec, which spun the company out in 2006.

Otsuka Pharmaceutical has agreed to acquire ADHD treatment developer Neurovance in a deal that will give an exit to Novartis Venture Fund.

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