By Swaraj Singh Dhanjal
The funding round also saw the participation of QualGro Asean Fund and Canopy Ventures. In January 2014, the firm raised $5 million from Sequoia in its series A fundraising. The funding round also saw the participation of QualGro Asean Fund and Canopy Ventures. In January 2014, the firm raised $5 million from Sequoia in its series A fundraising.
The investment will see My Social Book expand its presence into other Asian markets. The firm, founded in 2011, creates personalised printed products from social network images and compiles it into a photo book. With this investment, the company plans to tap the Asia Pacific region.
With this round, the firm has raised in excess of $20.5 million to date. Earlier this year, it secured a round of venture funding from MNC Media Group in March. Paktor’s latest round of funding will be used to fuel its expansion into North Asia, – Japan and South Korea – as well as expand sales & marketing activities in Indonesia, in addition to meeting rapidly increasing demand for its online-to-offline (O2O) services in Singapore, Malaysia, Indonesia, Vietnam, Thailand, Taiwan and Korea.
The interest in Freshdesk comes at a time when the environment for fundraising has been substantially subdued compared with last year’s highs. Venture capital deals fell to $634 million in the first half of 2016 compared with $958 in the year earlier.
StreamRail has been acquired by Israeli firm ironSource, Cisco Systems has acquired CloudLock in a US$293 million deal and wireless technology firm Humavox has merged with Australian resources firm Aurum.
A Chinese public dance video provider 99 Guangchangwu or 99 Square Dance in English, which predominantly caters to an elder user base, has received $5 million in its Series A funding.
Since starting as the venture capital arm of Bain Capital in 2001, the group has made more than 200 bets on startups including DocuSign and Jet.com. Bain’s fund, which was disclosed Friday in a filing with the Securities and Exchange Commission, comes as investors have buoyed total venture fundraising to $22.5 billion during the first half of 2016. If that pace continues, this year will easily outstrip the $36 billion raised by funds in 2015 and mark a high not seen in more than a decade.
Private equity investments, excluding real estate, totaled $5.8 billion in the first half of 2016, nearly 46 per cent lower than the same period last year.
SMBC Venture Capital and Sumitomo Mitsui Trust Investment-backed Japan Co-Invest L.P. also joined this round. Smartnews raised a bridge round of $10 million last year with a pre-money valuation of $320 million.
Cloopen enables developers to easily integrate messaging functions, video and voice calls in their applications. It claims to have more than 150,000 registered developers including Tencent and Alibaba, who are using the platform to build their applications.