Daily Funding Roundup


Daily funding roundup - November 5, 2015

Coveo raised $35M; Macat secured $30M; Semantics3 launched $1.55M funding

Innovation series by Mitos Suson
November 5, 2015
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  • doDOC, a Boston, MA- and Coimbra, Portugal-based web-based platform that allows pharmaceutical companies to accelerate regulatory and compliance processes, recently raised $200,000 in seed fundingCaixa Capital made the investment. The company is using the funds to continue to grow.

  • Semantics3, a data application programme interface (API) platform and the first startup from Singapore to get into the Y Combinator accelerator programme, has secured $1.55 million in bridge fundingThe round was led by Belgium-based venture capital firm E-Merge, which was also the biggest investor in its seed round of US$600,000 in March 2013. The bridge round will fuel Semantics3’s development of its suite of product and pricing APIs, which trawls e-commerce websites for the latest information on products and their prices, and then makes sense of these data for the merchants and retailers amongst its users.

  • Hivemapper Inc., a startup that wants to help drone pilots avoid crashing into buildings and other structures when and wherever they fly, has raised $2.9 million in a new seed round led by Spark Capital, according to Hivemapper founder and Chief Executive Ariel Seidman. According to the CEO, Hivemapper plans to use its funding for hiring and to build a loyal user base within the drone community. It also plans to amass more data for its map in the U.S. and eventually to cover the world.

  • Online interior design service Havenly, Inc. has raised $7.5 million Series A in a round led by theFoundry Group that included participation from other private investors that were not disclosed. Prior to the new round, Havenly had raised two rounds, one a $20,000 seed round, and a further undisclosed sum in March 2015. The company said it would  use the funding to expand head count and further develop the platform’s design concierge services.

  • BuildingConnected, a refreshingly different bid management solution, today announced that it closed $8.5 million in Series A funding to bring the construction industry ridiculously easy tools to save time and money during the bidding process. The investment was led by CrossLink Capital, with participation from existing investors Homebrew, Freestyle, Bee Partners and Brick & Mortar. With the $8.5 million investment, BuildingConnected has now raised a total of $10.7 millionBuildingConnected also announced a company wide-agreement with Turner Construction Company, the largest commercial construction builder in the United States, to become their go-to bid management tool. 

  • Photo sharing and live video streaming app maker 17 Media, LLC has raised $10 million Series A in a round that included Infinity Venture Partners and Prometheus Capital. Previous investors via a seed round in the company (the amount was not available) include Lawrence Ng, former founder of; Jaime Lin, partner at AppWorks, and Xu Le of High Level Limited. The company said it would use the new funding to power a platform upgrade and international expansion.

  • Only seven months after announcing a $14 million funding round, Boston footwear merchant M. Gemi has deposited another $18 million to its bank account. The new funding comes from the London office of Accel Partners, along with earlier investors including Cambridge-based General Catalyst Partners, Forerunner Ventures in San Francisco, and Boston-based BreakawayThe new capital will go toward “continued investment in the supply chain, in the brand, and growing the business”.

  • Cask Data, Inc., an open source software company that helps developers deliver enterprise-class Apache Hadoop solutions more quickly and effectively, announced that it's raising a $20 millionSeries B financing round led by Safeguard Scientifics, Inc. with participation from Battery Ventures, Ignition Partners and other existing investors. Proceeds will be used to expand Cask's platform enhancements and develop a broad sales team.

  • Macat, Washington, DC-based online learning platform, library, and critical thinking tool, raised $30 million in financingIn this round, which has three closings, Macat is adding $10 million in equity to a previously raised, undisclosed round of $20 million from a group of angel investors. The company intends to use the funds to expand the reach of its content and scale its digital platform globally.

  • Coveo, a Quebec City, Canada-based provider of an intelligent search platform, secured $35 million in Series D financing. The round was led by IQ Venture Capital with participation from existing investors Tandem Expansion Fund, BDC Capital, Propulsion Ventures SEC, Fonds de solidarité FTQ, and Coveo CEO Louis Tetu. The company, which has raised $75 million in financing to date, intends to use the funds to launch additional intelligent search apps for large enterprise technology ecosystems, and to increse sales and marketing, R&D and product groups.

  • Forefront Capital, a Mumbai-based hedge fund management firm, said it has raised about $100 million (Rs 655 crore) from domestic and global investors within 15 months of its acquisition by Edelweiss Financial Services Ltd. The company was the first hedge fund to get registered under the Securities and Exchange Board of India's Alternative Investment Fund (Category III) regulations. Forefront is the multi-strategy funds business of Edelweiss Global Asset Management, a $4.5 billion asset management business. Its team has doubled over the last two years, with almost half of its employees being women.

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