Category Archive: App Deals

Andy Boxall

In App Deals

April 26, 2017

seasun games

Tencent, the Chinese Internet company, has paid $142m for a 9.9% stake in the mobile game developer Seasun, which it performed through its Image Frame Investment subsidiary. Initially, a 4.3% stake was planned through a $62.2m payout to Seasun’s parent company Kingsoft. A further $80m spend to acquire an additional 5.6% from other Seasun shareholders was then proposed and accepted. Seasun was formed back in 1995 as one of China’s very first game studios, and now produces mobile games including the MMORG JX Online 3 (artwork seen above), plus Go Titans, Ships of Fury, and Brave Cross. It’s part of the Kingsoft Entertainment Group, which also includes WPS, Kingsoft Cloud, and Cheetah Mobile. In the filing, it’s stated: “By introducing Tencent Group as a strategic

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Andy Boxall

In App Deals

April 25, 2017

lineage2

The biggest mobile game studio in South Korea, Netmarble, has raised $2.3b in its IPO, the second largest share sale the country has seen. The IPO has been expected for sometime, and the amount raised closely matches estimates made ahead of time. Netmarble sold 17 million shares, achieving a total of 2.66 trillion won, beating Samsung’s BioLogics IPO from 2016, but still trailing the massive 4.9 trillion won collected by Samsung Life Insurance in 2010. Jang Won-yeol, an analyst for Shinyoung Securities, told Reuters: “The company not only has just released a mega-hit game the likes of which has never been seen in South Korea, but it is seen to have a strong lineup of games coming soon in the mobile games sector, where it’s

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Ben Heathcote

In App Deals

April 24, 2017

MeetMindful_Facebook_Timeline_short

MeetMindful, which claims to be the first and only dating app for people pursuing a healthy, mindful lifestyle, has raised $1.8 million in a seed funding round from a number of investors including Bridge Builders Collaborative. Other backers include Paul Tarell, chief financial officer of Gaia, Hay House CEO Reid Tracy, world-renowned mindfulness teacher Tara Brach, Nelstone Ventures and technology accelerator Techstars. MeetMindful was launched in 2015 to offer singles who live a healthy, mindful lifestyle an alternative to “the superficial nature of today’s popular swiping dating apps” by instead implementing matching capabilities based on core values and lifestyle choices. Users can join for free, browse other like-minded people in their area, view their profiles, receive new matches and chat with other members. In the

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Ben Heathcote

In App Deals

April 24, 2017

Solv’s mobile-friendly product makes it easy for consumers to book a same-day urgent care appointment and skip the wait, saving them time and money. (PRNewsfoto/Solv)

Solv, a San Francisco-based company behind an app that allows people to find and book same-day doctor’s appointments at urgent care clinics, has secured series A financing of $6.25 million in a round led by Benchmark Capital. Theresia Gouw of Aspect Ventures and Malay Gandhi of Ensemble Labs, formerly CEO of Rock Health, also participated. Since launching its private beta in late 2016, thousands of patients have already used the Solv technology platform. With a few taps on their phone, patients can find urgent care providers based on location and symptoms, and choose an appointment time that best fits their needs. Heather Fernandez, CEO and co-founder of Solv, said: “We started Solv because we wanted to make it easy to see a doctor within hours—not

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Ben Heathcote

In App Deals

April 24, 2017

Delivery5 copy

Farmdrop, an app which allows customers to buy groceries directly from farmers and producers, has secured funding of £7 million led by venture capital firm Atomico. New investors in this round include Nigel Wray, businessman and chairman of Saracens Rugby club. He joins existing investors Alex Chesterman, the founder of Zoopla Property Group, and founding Farmdrop investor Quentin Griffiths, the co-founder of Asos. Farmdrop was launched in 2014 by former Morgan Stanley stockbroker Ben Pugh, who spotted an opportunity to simplify the food supply chain using mobile technology. Since raising £3 million in seed funding in January 2016, the company has grown sales by more than 600% and generated annualised revenues of £3 million earlier this year. Ben Pugh, founder of Farmdrop, said: “Farmdrop has created

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Ben Heathcote

In App Deals

April 12, 2017

Oval Money main

Oval Money, the personal savings app founded by the former CEO of Uber Italy, has officially launched in the UK and raised €1.2 million in funding. The app, which utilises machine learning and the “wisdom of the crowd” to help and encourage users to save, secured the investment from Italy’s Gruppo Intesa SanPaolo, b-ventures, an incubator from Japan’s DOCOMO Digital, and Bertoldi Group Family Office. Oval was founded by Benedetta Arese Lucini, the former head of Uber Italy, along with Claudio Bedino and Edoardo Benedetto, co-founders of do-it-yourself crowdfunding platform Starteed.com, and Simone Marzola. Benedetta Arese Lucini, CEO of Oval, said: “To help people get a hold of their finances, Oval combines machine learning with the lessons users can teach one another to create collective

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Ben Heathcote

In App Deals

April 12, 2017

Fingerlix

Fingerlix, the ready-to-cook food delivery app, has raised $3 million in Series A funding from private equity firm Zephyr Peacock. The food startup, which is run by Maverix Platforms, will use the fresh funding to “intensify” its operations in Mumbai and expand into new cities, including Pune and Bangalore. A slice of the investment will also go into building new product lines and scaling up the team. The company has an overall target of expanding to India’s top ten cities over the next 18 months. Launched in May 2016, Fingerlix provides users with ready-to-cook products such as batters, mixes, curries, dals, parathas and fully-ready accompaniments. Customers can place orders through the website or on its Android or iOS app. In a joint statement, director Shripad Nadkarni

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Ben Heathcote

In App Deals

April 9, 2017

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On-demand insurance app Trov has raised $45 million in Series D funding led by Munich Re / HSB Ventures, bringing the company’s total funding to just over $85 million. All of Trov’s Series C investors (Oak HC/FT, Suncorp Group, Guidewire and Anthemis) also participated along with Sompo Holdings, one of Japan’s major insurers. Trov’s smartphone app is available for free download on iOS and Android in the UK and Australia, and allows users to purchase on-demand insurance for individual possessions such as a camera or laptop for any duration. The app is built on the company’s cloud-native insurance platform that features micro-duration policies, algorithmic pricing, integrated billing and intelligent bot-assisted claims. Trov said the new capital will be used to bring its on-demand insurance capability to more people around the world

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Ben Heathcote

In App Deals

April 9, 2017

Rooter main

Sports social engagement app Rooter has secured an undisclosed investment from consumer electronic goods and accessories manufacturer Intex Technologies. Rooter is a digital platform that connects sports audiences on a real-time basis during events. It plans to use the fresh capital to strengthen its technology team, while “maintaining a lean structure”. It also aims to grow its sales and marketing team as well as the content division to bolster the vernacular versions of the app. This round of funding will also help accelerate the platform’s expansion into South East Asia markets and catalyse partnerships with sports teams and leagues across the globe. Piyush Kumar, founder and CEO of Rooter, said: “It gives us immense pleasure to have received funding from Intex, one of the fastest growing consumer electronic and

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Andy Boxall

In App Deals

April 6, 2017

Tilak

Digital medical startup Tilak Healthcare has received $2.7m in new funding to produce a range of therapeutic mobile games. The funding comes from iBionext, which has been supporting healthcare startups since 2012, and its iBionext Growth Fund. The first game Tilak will produce targets ophthalmology, specifically macular diseases. The game’s puzzles have been specially designed to asses the visual capabilities of the macula. It monitors responses and sends notifications to the treating physician through a remote platform. Edouard Gasser, Tilak Healthcare’s CEO, said: “At Tilak , we are proud to adapt the power of videogames and entertainment to healthcare, thanks to our very distinctive positioning in the digital health world. With the support of iBionext Growth Fund, we’ll make mobile gaming a great healthcare tool.”

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