#DealMonitor – Scandit sammelt 80 Millionen ein – Medwing bekommt 28 Millionen – smava holt sich 57 Millionen


Im aktuellen #DealMonitor für den 26. Mai werfen wir wieder einen Blick auf die wichtigsten, spannendsten und interessantesten Investments und Exits des Tages. Alle Deals der Vortage gibt es im großen und übersichtlichen #DealMonitor-Archiv.

INVESTMENTS

Scandit
+++ G2VP aus dem Silicon Valley, Atomico, GV, Kreos, NGP Capital, Salesforce Ventures und Swisscom Ventures investieren 80 Millionen US-Dollar in Scandit. In das Unternehmen für mobile Computer-Vision- und Augmented-Reality (AR)-Lösungen flossen zuvor bereits 43 Millionen. “Mit der neuen Finanzierung sollen das Wachstum in neuen Märkten im asiatisch-pazifischen Raum und in Lateinamerika weiter vorangetrieben sowie die Präsenz und Aktivitäten in Nordamerika und Europa ausgebaut werden”, teilt das Unternehmen aus Zürich mit.

smava
+++ Earlybird, Venture Capital, Verdane, Vitruvian Partners und Runa Capital investierten bereits Ende des vergangenen Jahres 22 Millionen Euro in smava. “Zusätzlich hat smava Growth Debt in Höhe von 35 Millionen Euro von Kreos Capital aufgenommen”, teilt das FinTech, eine Kreditplattform, mit. Im vergangen Jahr peilte smava einen Börsengang an, der dann aber abgeblasen wurde. Die Private Equity-Firma Vi­tru­vi­an investierte Anfang 2018 bereits 65 Millionen Dollar in smava. Die Bewertung soll bei rund 300 Millionen Dollar gelegen haben.

Medwing
+++ Cathay Innovation sowie die Altinvestoren Northzone, Atlantic Labs und Cherry Ventures investieren 28 Millionen Euro in Medwing. Das Berliner Startup positioniert sich als Jobdienst rund um das Gesundheitswesen. Das Startup, früher als you4med unterwegs, wurde 2017 von Johannes Roggendorf, Alana Tung und Timo Fischer ins Leben gerufen. Zuletzt wirkten mehr als 200 Mitarbeiter für die Jungfirma. Das frische Kapital soll insbesondere in den “Ausbau des technologischen Vorsprungs sowie für die Entwicklung weiterer Features” fließen.

TIS
+++ Aquiline Capital Partners investiert gemeinsam mit 83North 20 Millionen US-Dollar in TIS, auch als Treasury Intelligence Solutions bekannt. Das 2010 von Jörg Wiemer und Erol Bozak in Walldorf gegründete Unternehmen positioniert sich als SaaS-B2B-Zahlungsplattform. 83North, Target Partners und Zobito investierten zuvor bereits 12 Millionen Dollar in die Jungfirma. Mit dem frischen kapital will das Unternehmen “die Vertriebsaktivitäten in Europa und den Vereinigten Staaten ausweiten”.

VENTURE CAPITAL

Aromex Ventures
+++ Der neue Accelerator Aromex Ventures unterstützt ganz gezielt junge Getränke-Startups. “Dabei setzt Aromex Ventures auf einen partnerschaftlichen Ansatz: Die Gründer müssen keine Kontrolle abgeben, denn es werden keine Beteiligungen am Startup erworben. Stattdessen teilen sich das jeweilige Startup und Aromex Ventures das unternehmerische Risiko, indem der Accelerator eine umsatzbasierte Vergütung erhält”, teilt das Unternehmen mit. Hinter dem Programm steckt das sogenannte Aromenhaus Aromex.

Achtung! Wir freuen uns über Tipps, Infos und Hinweise, was wir in unserem #DealMonitor alles so aufgreifen sollten. Schreibt uns eure Vorschläge entweder ganz klassisch per E-Mail oder nutzt unsere “Stille Post“, unseren Briefkasten für Insider-Infos.

Startup-Jobs: Auf der Suche nach einer neuen Herausforderung? In der unserer Jobbörse findet Ihr Stellenanzeigen von Startups und Unternehmen.

Foto (oben): Shutterstock

#83north, #aktuell, #aquiline-capital-partners, #aromex-ventures, #atlantic-labs, #berlin, #cathay-innovation, #cherry-ventures, #hr, #medwing, #northzone, #scandit, #smava, #treasury-intelligence-solutions, #venture-capital

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Cathay Innovation’s first investment in Germany is healthcare startup Medwing

Medwing, a German startup with an ambition to tackle Europe’s shortage of healthcare workers, said on Tuesday that it has secured €28 million ($30 million) in a Series B financing round. Global venture capital firm Cathay Innovation led the round, marking its first investment in a German company. Other participating investors include Northzone, Cherry Ventures and Atlantic Labs.

The World Bank forecasted a worldwide shortage of 15 million health professionals by 2030, with demand being highest in affluent regions like Europe with an aging labor force and an aging population in need of care.

The pressing issue inspired Johannes Roggendorf, who previously worked at Rocket Internet and Bain & Company, to launch Medwing in 2017 and later brought on his co-founder Dr. Timo Fischer. The entrepreneurs discovered that, contrary to conventional wisdom, many healthcare workers in Europe wanted to work more, not less. Part of the reason why jobs were not filled was information asymmetry that led to a mismatch between supply and demand.

“There is a group of people who are willing to work more if they can manage their schedule,” Roggendorf told TechCrunch over a phone interview. “There are many qualified workers who left the healthcare system often because of inflexible working hours.”

In a survey that Medwing conducted, 50% of those who left the healthcare system said they would return if they were given more flexible working conditions.

Medwing’s solution is an automatic job matching system connecting workers with hospitals, nursing homes and other medical institutions. Focusing on Europe, the startup has so far registered more than 200,000 workers and 2,500 partner employers — including 80% hospitals in Berlin . Employers pay Medwing a commission every time a candidate is successfully placed. Each month, the platform is adding 15,000 new applicants, placing over 100 health experts in permanent positions and filling some 2,000 individual shifts. 20% of its users are looking for non-permanent jobs, according to Roggendorf.

The platform strives to differentiate itself by “starting with the candidates,” asserted the founder. Unlike traditional staffing sites, which search for applicants based on recruiters’ criteria, Medwing does the opposite and filters recruiters according to candidates’ preferences on whether the position is flexible or permanent, part-time or full-time. It’s an approach that the founder believes can optimize worker satisfaction. In addition to matchmaking, the platform also provides career consulting services to job seekers.

To Jacky Abitbol, who oversaw the deal for Cathay Innovation, Medwing is addressing two kinds of technological innovation his fund hunts for. For one, Medwing is driving “the future of work” by giving employees more autonomy and freedom. Terminal, which lets companies build out remote engineering teams overseas, is another startup in this category that has attracted financing from Cathay Innovation.

“Medwing is also bringing digital to a more traditional sector,” Abitbol told TechCrunch on the phone. That means streamlining the recruiting process by eliminating agencies or middlemen, saving time and costs for both workers and employers.

“What sounds very logical was not done this way until today,” the investor added.

Medwing operates a team of over 200 employees from over 30 countries, many of which have been hit hard by COVID-19. The startup is providing some of its services pro bono to fight the virus, placing professionals and volunteers in hospitals, nursing homes and private households that need support. Abitbol said the impact of the health crisis on the startup’s revenue remains “slight”, as only certain facilities are designated as coronavirus hospitals and demand will return to normal as the pandemic starts to ease.

#berlin, #cathay-innovation, #cherry-ventures, #europe, #health, #medwing, #northzone, #recruitment, #rocket-internet, #workforce

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Cathay Innovation raises $550M for its second global VC fund

With the global economy still sorting itself out in the face of the pandemic, we’re hearing about fewer new venture capital funds these days. However, today is an exception, as Cathay Innovation has raised a $550 million second fund, which is about double the size of its first fund and, according to its leader Denis Barrier, is larger than the firm’s “original target.”

Cathay Innovation’s initial fund had some winners. The firm, which is part of the same org but distinct from private-equity outfit Cathay Capital, invested in Pinduoduo. The Chinese e-commerce giant raised money from Cathay Innovation when it was an early-stage startup. It’s worth around $70 billion today. Cathay Innovation’s first fund also led Chime’s Series B; that company is now worth nearly $6 billion.

We got on the horn with Barrier to learn a bit more about what’s changed for his firm and what its plans are for the new capital.

With its new fund, Barrier told TechCrunch that his firm’s model — target stage, target ownership percentage, etc. — isn’t changing. So if the model isn’t changing, why raise more money? What will it do with the surplus cash?

According to Barrier, two things. First, more money will allow the fund to follow winners a bit more over time. According to the VC, fund one might have put more capital into Pinduoduo and Chime if it had had the capacity to do so. Some venture firms use one-off special purpose vehicles (SPVs) for this sort of work. The other option is to raise a larger fund. And second, Barrier wants to do more deals in Southeast Asia.

This geographic expansion fits into Cathay Innovation’s model. The firm has offices around the world, and tries to share information from one geo to another. The goal is to learn from one and apply that knowledge elsewhere in order to spot impending trends in, say, America, after watching, say, China. The hope is that this sort of information sharing allows it to make earlier, better bets.

Indeed, this concept is something that Barrier has stressed to TechCrunch before. In our most recent chat he noted two examples of the concept in action. The first being that his firm saw the rise of neobanks (challenger banks) in Europe before they really got off the ground in the United States. Hence the Chime deal. And the Cathay Innovation executive noted that because his firm has an office in China, it had a 45-day advance on the rest of the world regarding COVID-19, giving it the chance to tell its portfolio companies what was coming.

It’s an interesting model that worked in its first fund; the real proof of the firm’s ability to see around corners will come with its second fund’s results. Given that this new capital vehicle is about twice as large as its first it has lots more returns to generate. It will need more breakout deals, and will need to ensure that it pours capital into them.

On that point, there is one more potential difference between the first and second funds. Barrier told TechCrunch that his team can now lead larger rounds if it wants. This could, again, help the firm get larger cuts of companies it believes will deliver outsize returns.

And for all the founders out there, Cathay Innovation says its investing pace is about the same as before, so if you are looking for capital, here’s a new fund that’s hunting for deals.

#cathay-innovation, #fundings-exits, #startups, #tc, #venture-capital

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Owkin raises $25 million as it builds a secure network for healthcare analysis and research

Imagine a model of collaborative research and development among hospitals, pharmaceutical companies, universities and other research institutions where no one shared any actual data.

That’s the dream of the new New York-based startup Owkin, which has raised $25 million in fresh financing from investors, including Bpifrance Large Venture, Cathay Innovation and MACSF (the French Pension Fund for Clinicians), alongside previous investors GV, F-Prime Capital and Eight Roads

The company’s pitch is that data scientists, clinical doctors, academics and pharmaceutical companies can all log in to the virtual lab that Owkin calls the Owkin Studio.

In that virtual environment, all parties can access anonymized data sets and models exclusively to refine their own research and development and studies to ensure that the most cutting-edge insights into novel biomarkers, mechanisms of action and predictive models inform the work that all of the relevant parties are doing.

The ultimate goal, the company said, is to improve patient outcomes.

In its quest to get more companies and institutions to open up and share information — with the promise that the information can’t be extracted or used in a way that isn’t allowed by the owners of the data — Owkin is replicating work that other companies are pursuing in fields ranging from healthcare to financial services and beyond.

The Israeli company Qedit has developed similar technologies for the financial services industry, and Sympatic, a recent graduate from one of the recent batches of Techstars companies, is working on a similar technology for the healthcare industry.

Owkin makes money by enabling remote access to the data sets for pharmaceutical companies and licensing the models developed by universities to those companies. It’s a way for the company to entice researchers to join the platform and provide another revenue stream for research institutions who have seen their funding decline over the last 40 years.

We have a huge loop of academic universities that have access to the data and are developing algorithms and we share data,” said the company’s chief executive Dr. Thomas Clozel. “At the end what it helps is developing better drugs.”

Declines in federal funding for scientific research since the 1980s (Image courtesy of The Conversation)

The investment from Owkin’s new and existing investors takes the company to $55 million in total capital raised through the extension of its Series A round. In all, the round totaled $52 million, Clozet said.

“We are exactly where we need to be because it’s about privacy and privacy is more important than ever before,” said Clozet.

The COVID-19 epidemic has emphasized the need for closer collaboration among different corporations and research institutions, and that has also increased demand for the company’s technology. “It touches everything… We have access to the right data sets and centers to build the best models for COVID,” said Clozet. “We’re lucky to have the right traction before the COVID happens and we have the right research that has been done.”

In fact, the company has launched the Covid-19 Open AI Consortium (COAI), and is using its platform to advance collaborative research and accelerate clinical development of effective treatments for patients infected with the coronavirus, the company said. All of its findings will be shared with the global medical and scientific communities.

The initial focus on the research is on cardiovascular complications in COVID-19 patients in collaboration with CAPACITY, an international registry working with over 50 centers worldwide, the company said. Other areas of research will include patient outcomes and triage, and the prediction and characterization of immune response, according to Owkin.

“Since we first backed Owkin in 2017, we have been sharing its vision to apply AI to fighting one of the most dreadful diseases on earth: cancer,” said Jacky Abitbol, a partner at Cathay Innovation. “Owkin has risen to become a leader in digital health, we are proud to grow our investment in the company to fuel its ambition to pioneer AI for medical research, while preserving patient-privacy and data security.”

#artificial-intelligence, #cancer, #cathay-innovation, #coronavirus, #covid-19, #eight-roads, #f-prime-capital, #gv, #health, #healthcare, #new-york, #owkin, #pharmaceutical, #pharmacy, #recent-funding, #startups, #tc, #techstars

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