Deal net: 25 – 29 September 2017
Posted on 29 September, 2017 by Thierry Heles, editor
The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.
Coredinate, a Germany-based software-as-a-service developer targeting security, maintenance and cleaning businesses, has raised €1.9m ($2.2m) in funding from investors including German public-private partnership High-Tech Gründerfonds (HTGF) and Bayern Kapital, the Bavaria state-owned investment firm. Bayern Kapital provided capital through BayernKapital Innovationsfonds ERFE, while MWN Equity Investment also participated. HTGF and Bayern Kapital participated as existing shareholders. The money will go towards product development and sales and marketing efforts.
Bpifrance, the French state-owned investment bank, has taken part in a funding round of undisclosed size for Alvène, a France-based manufacturer of ventilation systems for professional kitchens. The round was also backed by North Capital Investissement and Socadif. The company, founded in 2001, will use the money to expand domestically and in neighbouring countries.
Singapore state-owned investment firm Temasek has purchased a minority stake in UK-based supply chain software and services provider Blujay Solutions. The company is majority-owned by private equity firm Francisco Partners and was valued at approximately $700m for Temasek’s investment. It now has more than $500m in capital available, which it has earmarked for acquisitions as it seeks further international expansion and pursues accelerated growth.
Temasek has also made a strategic investment of undisclosed size in US-based talent agency Creative Artists Agency, according to Deadline. The money will help drive growth, including through acquisitions, and follows an investment by CMC Capital Partners in April 2016 to enable the creation of CAA China. CAA is majority-owned by private equity firm TPG Capital.
Ireland-based human resources technology developer Tandem HR Solutions has raised €2m in a seed round led by Frontline Ventures, with participation from Irish state-owned export credit agency Enterprise Ireland, ACT Venture Capital and assorted angel investors. The money will enable the startup to hire 40 additional staff as it aims to expand internationally. Tandem HR Solutions, founded in 2016, has developed a platform to deliver coaching and feedback to employees.
Enterprise Ireland also injected money into CloudRanger, an Ireland-based data backup provider, which has closed a $1.1m seed round further backed by angel investors from Ireland and the US. Enterprise Ireland provided the cash through its High Potential Start-Up program, which supports early-stage businesses that have the potential to take on international markets, create 10 jobs and generate €1m worth of sales within three to four years. CloudRanger has developed a platform that offers an overview of a company’s entire server system and provides effortless automated scheduling and backup policies. It relies on the cloud-based storage product operated by internet group Amazon, called Amazon Web Services.
Israel-based electrified socks producer Elastimed has secured $1m in funding from investors including state-owned industrial R&D promotion agency Israel Innovation Authority, Trendlines Group, Pix Vine Capital and assorted private investors. The round brings Elastimed’s total equity raised to date to $2m. Elastimed has developed socks that are essentially wearable medical devices, which treat venous and lymphatic diseases by improving blood circulation in the legs.
Triplemed, a Netherlands-based developer of treatments for aortic aneurysms, has secured more than €2m in funding form a consortium led by Chemelot Ventures, with participation from the Limburg Business Development Fund, an investment vehicle operated by the Dutch provincial government of Limburg, and unnamed private and existing shareholders. Triplemed’s elastic polymer product can be inserted into the aneurysm sac to fill and cure it, preventing leakage and further expansion, which would be fatal.
Canada-based enterprise sales intelligence platform Klue obtained C$4m ($3.2m) in funding on Wednesday from investors led by Omers Ventures, the investment arm of public pension fund Omers, and with participation from BDC Capital, the investment arm of state-owned financial agency Business Development Bank of Canada, Vancouver Fund, SK Ventures and assorted angel investors. Klue’s approach enables marketing teams to leverage both internal data and insights gained from the web to create and update content in order to engage with existing and potential clients.
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