09 May – Shopify to buy Deliverr in $2.1bn deal

Shopify to buy Deliverr in $2.1bn deal

E-commerce platform Shopify has agreed to acquire San Francisco-based logistics services provider Deliverr for $2.1bn in cash and stocK.

Coinbase’s takeover talks with 2TM break down

Cryptocurrency exchange Coinbase’s takeover talks with Brazil-based crypto brokerage 2TM, which would have boosted Coinbase’s international expansion, have reportedly broken down.

Zepto receives $200m series D delivery

Zepto, the Indian 10-minute grocery delivery service, has raised $200m in series D funding from investors including healthcare provider Kaiser Permanente.

Porsche leads Group14’s $400m series C

Carmaker Porsche led a $400m series C round for Group14, a US-based developer of a silicon-carbon system for use in lithium-silicon batteries.

GBT reaches unicorn status with $150m series A

Greater Bay Technology (GBT), a China-based fast-charging battery technology developer incubated by automotive manufacturer GAC Group, has closed a $150m series A round.

Veza eases out of stealth

US-headquartered data security software provider Veza has publicly launched with over $110m in funding from investors including internet and technology group Alphabet.

Spotawheel drives to $105m round

Spotawheel, a Greek used car trading platform, is gearing up for expansion with a $105m funding round backed by classifieds portal operator Adevinta and insurer Uniqa.

OMass Therapeutics binds to $100m series B

OMass Therapeutics, a UK-based small molecule drug developer, raised $100m in a series B round co-led by Alphabet and pharmaceutical firm Sanofi.

Nasdaq backs Amberdata‘s $30m series B

Stock exchange operator Nasdaq, Chicago Trading Company and a number of banks backed the $30m series B round for digital asset data provider Amberdata.

HilleVax racks up $200m in its IPO

US-headquartered vaccine developer HilleVax floated on the Nasdaq Global Select Market in a $200m initial public offering enabling pharmaceutical firm Takeda to exit.

Home Depot builds $150m CVC arm

US-listed hardware retailer Home Depot has formed a $150m corporate venture capital arm to identify and support customer experience and home improvement startups.

Corporates help AFH2 reach initial close

Pharmaceutical firms Asahi Intecc, Eisai Corporation and Ohara Pharmaceutical Industries all committed to Africa Innovation & Healthcare Fund (AFH2).


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

09 December 2019 – Kuaishou Lining Up One of 2019’s Largest Rounds

Big Deals

It’s edging towards the end of the year but Kuaishou is lining up one of 2019’s largest rounds, having reportedly secured $2bn from Tencent as part of a series F round it plans to formally close at $3bn in the coming weeks. The round will value the short-form video platform at $28.6bn and is expected to be the last before a planned initial public offering. Tencent’s stake will stand at almost 20%.

Healthcare consortium Kaiser Permanente oversees one of the oldest corporate venturing units in the Bay Area in Kaiser Permanente Ventures, and it has just closed its fifth fund at $141m. Fund V has also brought additional corporates onboard, taking in contributions from Highmark Health’s Highmark Ventures subsidiary, Tufts Health Plan and Henry Ford Health System. It now has some $500m under management.

Indian ride hailing platform Ola is preparing to enter London (though it is already present in other UK markets, such as here in Cardiff), but in the longer term has set early 2021 as the point when it will formally begin IPO preparations. It has already hired consultants and reportedly intends to cut headcount by 5% as part of those plans. SoftBank, Tencent, Didi Chuxing, Hyundai and Kia are all investors in the company.

In GCV/GUV crossover news, wellness services and goods provider CureFit is in talks with Singaporean state-owned investment firm Temasek to raise $100m in a round reportedly set to boost its valuation from $575m to $800m. The former valuation was sealed in a $120m round closed in June that included Unilever Ventures, and the prospective new funding would support the growth of CureFit’s Eat.Fit and Care.Fit divisions. UC-RNT Fund, a joint investment fund formed by University of California with industrial group Tata Sons’ chairman emeritus Ratan Tata, had injected $25m in 2016.

Deals

Reports a week ago stated that blockchain-based online lender Figure Technologies was set to announce a $103m series C round, and so it has proved, the company raising the cash from investors including MUFG Innovation Partners. The round values Figure, which is less than two years old, at $1.2bn.

Business finance provider Konfio has become the latest company to take in a nine-figure investment from SoftBank’s $5bn Innovation Fund, raising $100m from the corporate. Konfio aims to take advantage of increasingly strict business lending practices in Mexico by offering quick loans to small and medium-sized businesses through its data technology-equipped online platform, and will use the capital to add features such as life insurance to its offering.

Alphabet’s CapitalG unit has bought an undisclosed amount of shares in data collaboration platform developer Dataiku from venture firm and existing investor Serena Capital at a reported $1.4bn valuation – apparently 100 times that at which Serena co-led Dataiku’s seed round.

FinAccel, the owner of Indonesian e-commerce credit provider Kredivo, has secured $90m at a $500m valuation, in a series C round co-led by the Naver-backed Asia Growth Fund.

Precision cancer drug developer Black Diamond Therapeutics has emerged from stealth with $194m of funding, $85m of which was just closed in a series C round featuring Roche Venture Fund. Roche’s corporate venturing vehicle participated in the round as an existing backer, and Black Diamond intends to move its lead product candidate into a phase 1/2 clinical trial in early 2020.

Impulse Dynamics has received $80.5m in funding from investors including Minth Group, Zoll Medical and Abiomed as it prepares to commercialise its heart failure treatment device in the US. Amzak Health Investors led the series D round, which increased the company’s funding over the past four years to about $155m.

Highspot has now raised $200m altogether, having secured $75m in a series D1 round that included long-term backer Salesforce Ventures. The company, which has developed a software platform that optimises sales performance, received $60m in funding just six months ago, through a series D round that included all the participants in the latest deal.

AI technology developer Aibee took its total funding to $175m in a $74m series A1 round featuring conglomerate Chow Tai Fook. The Chinese company has now racked up four rounds inside two years and its investor base includes fellow corporate backers Lenovo Capital and Incubator Group, Red Star Macalline and K11.

Online automotive e-commerce platform CarDekho has secured $70m in a round led by Ping An Global Voyager Fund at a $700m valuation. The deal is the first for China-based Ping An’s corporate venturing vehicle in India, and CarDekho’s existing investors include Kreatif Media Karya, CapitalG, Dentsu Bennett Coleman & Co.

Funds

Portag3 Ventures, the fintech-focused venture firm formed by financial holding group Power Corporation, has closed its second fund at $321m.

US-based venture capital firm Harlem Capital has closed its inaugural fund at $40.3m with limited partners including Vanderbilt University, surpassing its $25m target and $40m cap. Harlem Partners Venture Fund I engaged 55 LPs, including student startup-focused VC firm Dorm Room Fund, trade convention operator Consumer Technology Association and private equity group TPG.

Exits

Cybersecurity software producer Tenable has acquired Indegy, a US-based industrial cybersecurity technology developer backed by energy utility Centrica, mass media group Liberty Media and diversified holding company Ofer Global, for $78m. Indegy had received $18m in an August 2018 series B round led by Liberty Media’s corporate venturing arm, Liberty Technology Venture Capital, and which included Centrica Innovations and OG Tech Ventures, respective investment vehicles for Centrica and Ofer Global.


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