Friday, October 7, 2022

True Global Ventures invests $38m in Web3 company Animoca Brands

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True Global Ventures 4 Plus Fund and Follow On Fund (TGV 4 Plus FoF) announced a $38m investment including a $16m bought from the secondary market. TGV also previously communicated an investment of $17m, this means that we have invested an extra $21m. Animoca Brands recently raised a $110m convertible led by Temasek, Bayou Capital and GGV, where TGV also participated. TGV Partners across 20 cities support Animoca Brands’ mission to deliver digital property rights to gamers and Internet users, leading the play-and-earn model and contributing to the Web3 Builders ecosystem of the open metaverse.

Nigerian startup Remedial Health secures $4.4 million in seed funding

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Remedial Health, a healthtech startup that makes solutions to make Africa’s pharmaceutical value chain more efficient, has raised $4.4m in seed funding to accelerate its expansion across Nigeria and to provide access to credit for inventory purchases for its client base of pharmacies, Proprietary Patent Medicine Vendors (PPMVs) and hospitals in the country. 

Australian building operations solution CIM raises AU$10 million Series A

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CIM, the creator of property operations software solution that enables teams to work more collaboratively and accelerates the journey to net zero emissions, announced that it has raised AU$10m after closing its Series A. The round was led by Five V Capital alongside Carthona Capital and included property executives like Mark Steinert, former Stockland CEO.

i4 Connect facilitates $60.7 million in grants to 111 Australian start-ups

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Since commencing as the Commercialisation Delivery Partner in July 2020 for the Entrepreneurs’ Programme Accelerating Commercialisation Service, i4 Connect has facilitated 111 start-ups with $60.7m in grants on commercialisation projects valued at $120m. An Accelerating Commercialisation grant can be used to fund up to half the project to a maximum of grant of $1m. These businesses are often novel, pre-revenue, early stage firms that hugely benefit from both the funds provided through the service and the unique mentoring provided by i4 Connect facilitators.

Australian sporting greats invited to mentor the next generation of stars

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The Sport Australia Hall of Fame (SAHOF) announced the athletes selected for its 2023 Scholarship & Mentoring Program, with three Olympic gold medallists, an NBA Champion, an Australian surfing legend and a cricket great to mentor our next generation of sporting stars.

Morgan Stanley selects 10 companies for its Multicultural Innovation Lab

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Morgan Stanley announced the eighth cohort of the Multicultural Innovation Lab. The in-house accelerator program for tech and tech-enabled startups in the post-seed to Series A funding round stage targets companies with multicultural or women founders, co-founders, CTOs or other C-suite members who are developing innovative solutions across sectors.

Ownera closes $20 million Series A led by J.P. Morgan and LRC Group

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Ownera, the company delivering an extensive interoperability trading network for tokenized assets, has announced Series A funding of $20 million including J.P. Morgan and LRC Group. Ownera’s objective is to create a global unified inter-trading pipeline for digital securities, efficiently connecting siloed tokenization platforms and trading interfaces. Based on the open-source FINP2P protocol, Ownera’s offering seamlessly connects any type of securities tokenization engine on any public or private blockchain, or even on traditional ledgers.

Prolific Machines raises $42 million from top planetary health investors

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Prolific Machines, a next generation biotechnology company, is emerging from stealth by announcing their massively oversubscribed Seed and Series A financings, led by the best VCs in the space. The Seed round was led by Arvind Gupta at Mayfield, the first investor in cultured meat. The Series A was led by Bill Gates-founded Breakthrough Energy Ventures. Prolific’s first check was written in late 2020, when SOSV’s IndieBio led their Pre-Seed round.

Decentralized data management firm Inery receives funding from Metavest

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Inery, a decentralized data management system, has secured an investment from web3-focused blockchain VC firm Metavest in the first week of September at the valuation of $128m. Inery is a decentralized data management system bringing DB to Web3. It provides low-cost, reduced latency, secure, and tamper-resistant way for data management.

Elite scholarships put ten more athletes on the path to greatness

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Ahead of the sport’s Olympic debut at Paris 2024, 14-year-old break-dancer Jeff Dunne has been named as the youngest of 10 new recipients of a Tier 2 scholarship in Sport Australia Hall of Fame’s Scholarship & Mentoring Program. The 10 athletes, who include three Birmingham 2022 Commonwealth Games medallists, will each receive a grant of $5,000 plus support from SAHOF and its esteemed member base over the next 15 months.