Daily funding roundup - June 15, 2015

Milestone Pharmaceuticals landed $17M; Lavu secured $15M; Scancam snapped $500K

• Anti-fuel theft startup Scancam snapped up $500,000 in seed funding in order to roll out its technology across Australia. The Perth-based company manufactures a device that automatically scans licence plates and records people when they fill up their car with petrol. The information is then streamed to an iPad, with service station attendants able to identify if a customer is a previous offender and even switch a browser to pre-pay mode should this be the case. The round, which was the company’s first external capital injection, was led by several high-net worth individuals. Scancam co-founder Eoin Byrne told StartupSmart the funding will allow him to make necessary hires and invest in marketing. The round was facilitated by Innovation Bay in Perth – a membership organisation designed to bring entrepreneurs and angel investors under the one roof.
  
  
• iSTAR, an Indian training and skill development startup received a new round of investment from Unitus Seed Fund. iSTAR has been a part of Unitus Seed Fund’s portfolio since April 2013, when they raised their first round of seed funding. iSTAR works towards increasing the chances for university students to find employment after graduation. According to the company, 85 percent of students do not get employed due to lack of training in their chosen industry or lack of relevant positions.
  
  
• Gracious Eloise, a New York-based personalization technology company, completed a $3 million Series A funding round. The round was raised from BBG Ventures, Broadway Angels, Female Founders Fund, Great Oaks Venture Capital, Montage Ventures and Valley Girl Ventures, as well as existing investors. The company intends to use the funds to expand its technology team, including the appointment of Trey Stout, Chief Technology Officer and Simmone Taitt, Head of Business Development.
  
  
• Decawave, a Dublin-based developer of semiconductors, closed a $4.5 million (€4 million) funding round from angel investors, bringing the total investment to $30 million. DecaWave chief executive Ciaran Connell said the funding will be used to quicken the development of the company’s next–generation technology to address the fast-growing demand in the consumer market. “This latest funding round allows us to accelerate the development of our technology and expand our company to meet our customers’ expectations.”
  
  
• Hello, a creator of the Sense sleep tracker, valued between $250 million and $300 million as part of its latest funding round, sources tell TechCrunch. The company nabbed $40 million in a round led by Temasek, according to a report by the Financial Times.
  
  
• Lavu, a Albuquerque-based developer of point-of-sale software for restaurants, announced through a public filing that it secured $15 million in series A funding. The company said the round was led by Aldrich Capital Partners, and Aldrich partner Mirza Baig will join Lavu’s board. The company intends to use the funds to expand its product line and open satellite offices in major cities on both coasts.
  
  
• Delhi-based e-waste management startup Karma Recycling Pvt Ltd raised an undisclosed amount from Infuse Ventures, an early-stage investment firm associated with IIM Ahmedabad’s tech incubator CIIE (Centre for Innovation Incubation and Entrepreneurship) and Low Carbon Enterprise Fund (LCEF), a fund managed by Environmental Resources Management Foundation, the company said in a filing.
  
  
• Milestone Pharmaceuticals Inc., a clinical stage cardiovascular company in Phase 2, closed a US$17 million Series B financing. The round was led by Domain Associates and included participation from all of Milestone's existing investors including Fonds de solidarité FTQ (FSTQ), Pappas Ventures, BDC Capital, GO Capital, and iNovia Capital. The funding will be used to complete Phase 2 clinical development of MSP-2017. In connection with this financing, Domain's Debra Liebert will join Milestone's board of directors. "We are excited to have a premier life sciences investor such as Domain join Milestone," said Philippe Douville, Chief Executive Officer of Milestone. 
  
  

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Image Source:  venturestreampartners.com