By Bloomberg News
The company is discussing with sovereign-wealth funds, energy and insurance companies in Asia and Europe for its first dollar fund,
INCJ will be investing $3.7 million in Optical Comb while PeptiStar will get up to $7 million from the Japanese investor.
Japan-based Line Ventures Corporation, Korean search engine Naver, Korean lender Shinhan Bank and TS Investment are said to have participated in the latest round.
Plaid’s Karte has analysed an accumulated total of 2.2 billion users and up to ¥548bn in annual sales.
CureFit investors Accel Partners, IDG Ventures, Kalaari Capital, and UC-RNT Fund are keen on funding a majority of the proposed new round
The new funding round also saw participation from Girish Mathrubootham-led Freshworks, also one of Fyle’s enterprise clients
Triip said the latest financing sees its valuation jump to $10 million from $2 million in 2016.
Asia presents a chance to “swing big” because it’s unburdened by technological infrastructure, particularly in financial services, said Matthew Granade, who oversees investments at the venture-capital arm of Cohen’s Point72 Asset Management.
Chinese VCs poured $1.4 billion into U.S. biotech firms in the three months ending March 31, accounting for 40% of the $3.7 billion that the companies raised in the period overall, PitchBook data shows.
SAIF partners, Accel and Catamaran Ventures also participated in the current round.