Deal net: 8 – 11 August 2017

The Global Government Venturing deal net rounds up all the latest smaller deals and tracks emerging companies accessing government funds.

Ireland-based software developer FieldAware has raised close to €3m from Oyster Capital and Walter Hobbs, a former executive of state-owned export credit agency Enterprise Ireland, the Irish Independent has reported. The investment follows the company filing accounts that revealed an accumulated loss of €16m, up from €3.5m a year earlier. FieldAware’s existing shareholders include sovereign wealth fund China Investment Corporation and Ireland’s National Pensions Reserve Fund, through their China Ireland Technology Growth Capital Fund, Atlantic Bridge and Openview Partners.

United Arab Emirates-based on-demand ride platform Careem received an undisclosed amount of funding from China-based counterpart Didi Chuxing on Wednesday as part of a strategic partnership agreement. The partnership will involve the companies sharing resources and knowledge, as Didi looks to help Careem make its offering more affordable and grow its service. Careem previously secured $350m in funding in December 2016, following a $60m series C round in 2015 that included Impulse, a subsidiary of the state-owned Kuwait Investment Authority. [read more about this deal on our sister site Global Corporate Venturing]

Brazil-based solar heating technology producer Solis has raised R$6m ($1.9m) from Fip Inseed Fima, the environment-focused investment fund set up by state-owned economic development agency National Bank for Economic and Social Development and managed by Inseed Investimentos, according to Diário Comércio Indústria & Serviços. Founded in 2011, Solis hopes to use the capital to commercialise its technology.

Mealplanner, a Finland-based health technology developer, has closed a €1m seed round that included Tekes, the Finnish state-owned innovation agency, according to Tekes provided €400,000, with the remainder coming from unnamed investors. The company has developed an app called FoodToDo that connects to wearables and recommends dietary changes to users to prevent illnesses.

International Finance Corporation, the private sector arm of the multilateral financial institution World Bank, is exploring an investment of $2.25m in Brazil-based fintech developer Koin, according to Economia & Negócios. Koin, which operates a platform that enables users to make online purchases without a credit card, is seeking $4.25m for the round.

The London Co-Investment Fund, backed by the Mayor of London, has co-led a $1.1m funding round for UK-based plant e-commerce company Patch, Horticulture Week wrote yesterday. Forward Partners co-led the round, which also attracted several angel investors. Patch currently only delivers its plants in London.

Canada-based cleantech company GreenMantra Technologies is set to receive $2.2m from federal government-backed foundation Sustainable Development Technology Canada (SDTC) to build a demonstration plant that will turn waste polystyrene into polymers for use in inks, foam insulation and other applications. SDTC previously also invested $2m in 2014.

Japanese public-private partnership Innovation Network Corporation of Japan and financial services firm Bank of Kochi  have invested a total of ¥470m ($4.3m) in Nextremer, a Japan-based developer of dialogue systems using artificial intelligence. Founded in 2012, Nextremer will use the cash to boost R&D and marketing activities.

See more from this Government Report: Brazil, Canada, Finland, Ireland, Japan, Kuwait, UK, World Bank/IFC


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