Hong Kong-based venture capital firm Horizons Ventures has led an $11-million Series A round in Berlin-based edge processing software supplier Teraki while Hillhouse Capital Group and others have picked up stakes in Shanghai Zerun Biotechnology.
Horizons Ventures leads $11m Series A round in Teraki
Teraki, a Berlin-based supplier of edge processing software, has secured $11 million in a Series A round of financing led by Hong Kong-based venture capital firm Horizons Ventures, which manages the private investment of business magnate Li Ka-shing.
The Series A round, which took the total capital raised by the startup to $16.3 million, saw the participation of Hong Kong-based Bright Success Capital, US-based State Auto Labs Fund, a corporate venture fund managed by Rev1 Ventures, Castor Ventures, a venture capital fund led by a community of MIT alumni, and a Japanese technology firm.
Existing investors Washington-based investment firm Paladin Capital Group and innogy Ventures, the venture capital arm of European utility company innogy SE, also poured money into the round, according to a statement.
Teraki said that it will use the proceeds to up its focus on the $395-billion automotive electronics market, and to expand into sectors facing a similar rise in data demands in tightly constrained computing and communications components, including internet of things (IoT), drones, and robotics. As part of the expansion into Asia, Teraki recently opened offices in Seoul and Tokyo.
Hillhouse, China’s Yingke, others pick shares in biotech firm Zerun
Affiliates of Asia-focused private equity major Hillhouse Capital Group and others have picked up stakes in Shanghai Zerun Biotechnology that specialises in novel human vaccine research and development.
Zerun wiped out 200 million yuan ($29 million) of debt by giving more than 11.1 per cent shares to a consortium of six companies: Affiliates of Hillhouse Capital Group, Chinese asset manager Yingke Innovation Asset Management, Shenzhen-listed contract research organization Hangzhou Tigermed and others.
Walvax Biotechnology, the parent firm of Zerun, remains the largest shareholder in the biotech firm with a 65.14 per cent stake while Hillhouse, which subscribed to $11.81 million in the deal, owns 8.49 per cent to become the third-largest shareholder, shows the filing.
The transaction is expected to promote the R&D and commercialization of Zerun’s human papillomavirus (HPV) vaccines. Zerun, incorporated in 2003, specialises in prophylactic vaccines for major infectious diseases and therapeutic vaccines. The company was acquired by Walvax in May 2013.