Small Business Finance News
Venture Capital Deals: August 25, 2022
Written by Ken Gaebler
Happy Thursday. From the vast cavern of recent venture capital transactions, I've found quite a few gems for you. Enjoy!
Get your reading glasses out for this one!
Today, we are featuring 43 newly funded tech companies from our venture capital transactions database, including one massive $1 billion investment. If you are looking for prospective customers with money to spend, this is a good place to start. As always, send us your comments, questions or corrections. We welcome any and all feedback.
London-based AbbeyCross raised $2.5 million in seed investment from lead investor Third Prime Capital, with additional investment from Communitas Capital. The fintech company provides a marketplace for emerging market currencies.
Korea-based Avelos Therapeutics, scored $8 million in a Series A round led by Mirae Asset Capital, Mirae Asset Venture Investment, SV Investment and UTC Investment. QUAD Investment Management and Timepolio Asset Management also joined the round. The biotech company is pursuing biomarker-driven drug research and development of novel targeted therapeutics.
Fintech venture BlueTape, based in San Francisco, raised $55 million in investment from Arcadia Funds and Chicago Ventures. The company provides a payment and financing solution for construction professionals.
This is the biggest deal of the month by far, with many VC firms joining. Enterprise IT company Celonis closed a $1 billion Series D financing round. KeyBanc Capital Markets and Qatar Investment Authority took the lead on making the investment. Other investors included 83North, Accel Partners, Activant Capital Group, Alta Park Capital, Bank of America, Citibank, Citizens Capital, Deutsche Bank, Durable Capital Partners, Franklin Templeton, Goldman Sachs, JPMorgan Partners, MUFG Bank, Neuberger Berman Private Equity Funds, RBC Capital, Sator Grove, Silicon Valley Bank, SMBC Venture Capital, T. Rowe Price, TCV and individual investors. The company, which is based in New York City, is a global technology leader in the field of process mining, sometimes also described as Automated Business Process Discovery or ABPD.
HRTech startup Complete Applications closed a $4 million seed round. Accel Partners led the round, with support from Y Combinator. Complete offers tech solutions for offer letters and compensation, including salary, equity and benefits.
Restaurant tech venture ConverseNow, based in Austin, Texas, landed $10 million in new funding from Enlightened Hospitality Investments. The company automates and personalizes restaurants orders on voice-based channels such as phone calls, drive-thru stations, self-service kiosks and voice-assisted chat on mobile.
Blockchain startup DAM Finance, operating out of Boston and Shanghai, closed $1.8 million in funding from 11-11 DG Partners, Arrington Capital, D1 Ventures, Digital Finance Group, Jsquare, Ledger Prime and Stacker Ventures. DAM offers a protocol for creating purchasing power from cross-chain token portfolios via the Dotsama stablecoin dPRIME on Moonbeam.
DhiWise, which focuses on tech solutions that help software developers, received $7 million in Series A funding from lead investors Accel Partners and Together Fund, with support from India Quotient. The company is based in Surat, India.
Digicomm International, operating out of Englewood, Colorado, secured an undisclosed investment amount from Crestview Partners. Founded in 1993 and based in Colorado, the company is primarily focused on providing useful products and components to cable plant operations.
AI venture Digital Diagnostics scored $75 million in a Series B round led by KKR. 8VC, Cedar Pine, Edward-Elmhurst Health, Gundersen Health System, Kinderhook Industries, Optum Ventures, OSF Ventures and University of Iowa also invested. The company, which is tapping the power of AI to improve medical diagnosis and treatment process, is based in Coralville, Iowa.
Tokyo-based healthcare services startup Dioseve secured a $3 million investment round. ANRI took the lead on making the investment. Other investors included Coral Capital Management. The company is working on solutions to various problems surrounding pregnancy, including infertility as a result of age and hereditary disorders.
Latam startup Fudo landed $7.5 million in seed financing from lead investors Andreessen Horowitz, Atlantico Capital and Maya Capital, with support from Collaborative Fund, Goodwater Capital and Latitud. The company provides management software for restaurants and other gastronomic businesses.
Fintech startup Givers secured $3.5 million in a seed round led by CRV. Able Partners also joined the round. The company is based in Palm Beach Gardens, Florida. The company's goal is to help family caregivers find hidden savings. Their platform is now available as a beta version.
Costanoa Venture Capital, Foundation Capital and Jump Capital participated in a $13 million Series A funding round for Highline. The company, based in Dallas, offers tools that help people easily and automatically manage their money.
Kasisto closed a $15.5 million equity round. FIS led the Series C round, with support from BankSouth and Westpac Banking. The company, which is based in New York City, helps financial institution automate and improve customer experiences.
HRTech venture ModernLoop, a recruiting operations platform, announced $9 million in Series A investment from lead investors Accel Partners, with support from Notably, Quiet Capital, Webb Investment Network and individual investors. The company is based in San Mateo, California.
Healthcare services startup Mojocare, based in Bangalore, secured $20 million in a Series A round led by B Capital Group. Better Capital, Chiratae Ventures, Sequoia India and individual investors also invested in the round. The company provides consumer health and wellness services to underserved markets in India.
Atlanta-based Motivo Health, a virtual clinical supervision platform, closed a $14 million Series A round. Cox Enterprises led the round. Other investors included Great Oaks Venture Capital and SteelSky Ventures.
E-commerce startup Omnibiz, a technology-driven FMCG (fast-moving consumer goods) platform, closed a $15 million Series A funding round. Timon Capital took the lead on making the investment. Additional backers included Chandaria Capital, Chapel Hill Denham, LoftyInc Capital Management, Musha Ventures and Ventures Platform. The company is based in Nigeria.
Swiss healthtech startup PeakData announced a $12 million Series A round. AlbionVC was the lead investor, with support from Heal Capital and Octopus Ventures. The company uses big data analytics and Al to collate data from across the web and create ranked healthcare professional profiles that are useful to pharmaceutical companies.
Perform, an AI-powered exercise platform that offers personalized coaching and training, raised $1.2 million in seed investment from lead investor Defy Partners, with support from Techstars and individual investors. The company is based in San Francisco, California.
Denver-based Plume announced a $24 million Series B round. Transformation Capital led the round, with participation from General Catalyst Partners and Town Hall Ventures. The healthcare services venture specializes in serving the trans and broad queer community.
Porton Advanced Solutions
Porton Advanced Solutions, a cell and gene therapy contract development and manufacturing provider, announced a $80 million round. China Merchants Group led the round, with support from China Merchants Securities, China Merchants Venture Capital, CS Capital, Fosun Capital, Gortune Investment, HM Capital, Merchant Health, Momentum Venture Management, Porton Pharma Solutions, Ruilin Investment and SDICTK. The company is based in Jiangsu, China.
PushPress, based in El Segundo, California, raised $11 million in Series A funding led by Altos Ventures. Mucker Capital also invested. The company develops and markets a gym management platform for fitness-focused businesses.
Ready Player Me
Ready Player Me, operating out of Estonia and pursuing a business model centered on avatars, secured $56 million in investment, led by Andreessen Horowitz. Collab+Currency, D'Amelio Family, Endeavor, HartBeat Ventures, Konvoy Ventures, Punk6529, Snowfro and individual investors also supported the round.
Sabanto secured a $17 million Series A venture capital round. Fulcrum Global Capital took the lead on making the investment. Other investors included Cavallo Ventures, DCVC Bio, Hico Capital, Johnsonville Ventures, Trimble Ventures and Yara Growth Ventures. An agtech company offering a supervised autonomous equipment platform, Sabanto is based in Chicago.
Singapore-based blockchain company Safeheron secured $7 million from its Series A investment round, led by Yunqi Partners. 7 O'Clock Capital, Antalpha Ventures, Kryptos, M77 Ventures, PrimeBlock Ventures, ShataCapital, Waterdrip Capital and individual investors also joined the round. Safeheron is an open-source self-custody solution provider, built by experts in cybersecurity and cryptography.
SynSaber, an industrial asset and network monitoring solution, closed a $13 million Series A round. SYN Ventures led the round, with support from Cyber Mentor Fund and Rally Ventures. The security-focused startup is based in Chandler, Arizona.
Saudi fintech company Tamara, based in Riyadh, secured $100 million in a Series B round led by Sanabil Investments. Checkout.com, Coatue Management, Endeavor Catalyst and Shorooq Partners also invested. The company is focused on providing a seamless experience for MENA merchants and customers through fair and transparent financial solutions.
Artificial intelligence startup Tazi.AI closed a $4.6 million seed financing round. Illuminate Ventures took the lead on making the investment. Other investors included Diffusion Capital Partners, Foothill Ventures, Handshake Ventures and individual investors. The company, which helps its customers tap into the power of machine learning, is based in San Francisco, California.
Healthcare IT startup Trial Library raised $5 million in seed funding from lead investor Lux Capital, with participation from Next Ventures and Unseen Capital. A public benefit company with a mission to improve health equity by expanding access to cancer precision medicine, Trial Library is based in San Francisco, California.
Adtech firm TVCoins scored $10 million in seed financing from Hoerner Planning Group and Roumell Asset Management. The company is based in Boston, Massachusetts and offers an ad-powered, white label video streaming platform that delivers direct-to-consumer content.
Toronto-based VendorPM landed $20 million in Series A funding from lead backer Prudence Holdings, with support from Alate Partners, Bessemer Venture Partners, Navitas Capital, RXR Realty and individual investors. The company provides a software-enabled marketplace that empowers property managers to effortlessly work with vendors.
Violet Labs, operating out of Minneapolis, Minnesota, raised $4 million in a round led by Space Capital. Felicis Ventures, MaC Venture Capital and V1.VC also invested. The company provides cloud-based data integration for complex hardware engineering.
Vive Crop Protection
Canadian agtech crop protection venture Vive Crop Protection raised $26 million in Series C funding from Business Development Bank of Canada, Cibus Fund, Emmertech, Export Development Canada, Silicon Valley Bank and Urbana Corporation.
W3 Storage Lab
Blockchain startup W3 Storage Lab, which is building a next-generation decentralized storage protocol and network, closed a $3 million seed equity round. DraperDragon led the round, with support from Lingfeng Capital and OKX Blockdream Ventures. The company is based in Cupertino, California.
Sustainability platform Worldfavor closed a $10.1 million Series A funding round. SEB Private Equity took the lead on making the investment. Additional backers included Brightly Ventures and Spintop Ventures. The entertainment company is based in Stockholm Sweden.
Oakland, California-based Zitara announced a $12 million Series A round. Energy Impact Partners led the round, with support from Collaborative Fund, NextView Ventures and Trucks Venture Capital. The company builds cloud and embedded battery management software for companies with large deployments.
Dubai-based Zywa, a neobank tailored for teenagers in the Middle East and North Africa, closed a $3 million seed funding round. Investors in the fintech venture included Dubai Future District Fund, Goodwater Capital, Rebel Fund, Trampoline Venture and Zemu Venture Capital.
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