News round up 13 February 2017

A round up of all the latest news on for our subscribers.


HTGF conference scouts innovation, finds cooperation

Speakers gathered at the High-Tech Gründerfonds’ conference to discuss using digitisation to enhance the customer experience, the importance of having a concrete strategic interest and opening up innovation to allow users to contribute their ideas.

India to incubate startup district

The country hopes to develop its first startup district with several incubation centres and labs, with some keen on choosing Mangalore as the location for the initiative.


RDIF looks forward to $1bn boost

The Russian Direct Investment Fund is expected to secure more than $1bn in additional capital from the government by the end of the year, while Qatar pledges to co-invest $2bn.

Frontline closes in on $65m fund

EIF, Enterprise Ireland and Ireland Strategic Investment Fund have backed Frontline’s Fund II, which will target business-to-business software developers at the pre-seed and seed stages.

North East Growth Fund boasts $25m return

The Finance for Business North East Growth Fund, launched in 2010, has already secured a $25m return on its 146 investments.

Greece unveils Equifund with $214 in public funding

The venture capital fund has received a $214m commitment through EU program Competitiveness, Entrepreneurship and Innovation, which will be topped up by third parties.

St Petersburg to launch $4m fund

The city is set to create a venture fund with an initial commitment of $4m that will allocate between $16,000 and $83,000 to startups.

Seroba adds EIF and Ireland to $107m fund

The European Investment Fund, Enterprise Ireland and the Ireland Strategic Investment Fund have supported a $107m vehicle that has already made its first investment.

Ontario energises $42m cleantech fund

Ontario is currently seeking VC fund managers to manage the fund.


EDBI helps cover CXA’s $25m series B

The round, which boosted insurance technology developer CXA’s total financing to $40m, attracted EDBI and NSI Ventures.

Detsky Mir wins $355m IPO game

The children’s retailer has floated on the Moscow stock exchange at a valuation of approximately $1bn, providing an exit to the Russia-China Investment Fund.

Kiwigrid channels series C funding

Investors including LG Electronics and Innogy have supplied at least $11m in series C capital to Kiwigrid, providing exits to HTGF and Innogy Venture Capital.

Blazing Griffin entertains $6.3m series A

Scottish Investment Bank has supplied capital to digital entertainment group Blazing Griffin, which will use the money to set up two new development teams.

CarTrade revs $55m engine

Temasek-backed CarTrade has added $55m to its coffers, one year after closing a $141m funding round that featured the Singaporean government venturing firm. carts off $7m

The e-commerce technology developer has raised $7m in seed funding at a $27m post-money valuation from backers including NRW Bank and Sparkasse Dortmund.

NextAI interfaces with investors

The program aims to offer capital, mentorship and networking opportunities to Canada-based startups operating in the artificial intelligence sector.

Personal MedSystems measures series B pulse

HTGF, the Sino-German High-Tech Fund and NRW Bank are among the investors of a $5.4m series B round for medical device manufacturer Personal MedSystems.

Coiney rakes in new funding

INCJ has contributed to a $7.1m funding round for mobile payment company Coiney, which has now raised more than $21m in total.

Deal net: 6 – 10 February 2017

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


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