Real estate technology companies secured $13.1B of venture capital in the first half of this year. The funding increased 5.65% compared to the same period last year. Center for Real Estate Technology & Innovation’s (CRETI) venture funding report notes that 26% of global funding went to proptech companies. More: - Seed- to Series A-stage companies secured the majority of the funding, with 60% of the total funding being diverted to early-stage startups.
- The remaining 40% was invested in Series B and higher stage startups.
- Within the real estate technology sector, residential sector-focused technology firms secured 26% of the funding, the same as industrial tech startups.
- Hospitality, commercial, and construction technology companies raked in 20%, 12%, and 11%, respectively.
- The proptech funding has been insulated so far from the rent spikes and rising inflation rates, as the industry is still heavily fragmented, providing venture firm’s an opportunity to capitalize with exit opportunities occurring from M&As arising as the industry consolidates.
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Miami-Fort Lauderdale metro area startups raked in $1.4B venture funding in Q2, matching Q1’s tally, despite a drop in the number of deals from 98 to 93, per preliminary data analyzed by Refresh Miami. If the pace of funding continues, the Miami metro region may match or even surpass the $5.33B venture funding received by South Florida-based companies in 2021. More: - The funding trend was largely driven by mega $100M+funding rounds for Recurrent Ventures, OppZo, Material Bank, and PayCargo, which raked in $300M, $260M, $175M, and $130M, respectively.
- As a result, Miami metro maintained its spot in the top 10 U.S. cities that received venture funding in the first half of 2022.
- While exit opportunities worldwide remain sparse, Miami clogged in $4.4B in exits in H1 2022, already exceeding last year’s tally of $3.2B.
- Statewide, however, the funding activity mimics the larger venture funding pullback trend.
- Funding in the second quarter added up to $1.57B from 138 deals, with the Miami-Fort Lauderdale metro region being the single largest contributor.
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KB Financial Group’s venture capital arm KB Investment Co is soliciting investments for its second global fund. The Korean firm has set a target of $150M (200B won). KB is targeting startups across Southeast Asia and India, as well as global biotech firms. More: - 70% of the fund is expected to be set aside for Southeast Asian and Indian startups, with the remaining 30% earmarked for biotech firms.
- KB Financial, the parent organization of Kookmin Bank, hopes to gain a foothold in overseas markets with investments in companies.
- KB has already deployed 93% of the capital from its first fund, which closed at $240M (220B won) in 2019.
- With the investments, the firm’s assets under management have seen a 50% gain against initial capital invested, fueled by the returns from its exit from Grab, which debuted on Nasdaq last year.
- KB also launched two funds of fund for Malaysian and Indonesian startups named Hibiscus Fund and Centauri Fund, respectively.
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COI Partners, a European growth investor, announced a $121M (€120M) fund to back growth startups. The COIP DACH Growth II will back startups across all sectors in the DACH region in Europe, primarily investing in startups with proven business models, positive revenue growth, and primed to scale. More: - The firm, under its former guise as Co-Investor Partners, focused on the IT, software, consumer, retail, life sciences, and industrial tech sectors.
- With the new funding, the firm’s assets under management now total $302M (€300M).
- COI has invested in over 110 companies to date, 40 of which yielded successful returns on exits.
- Notable exited portfolio companies include Euroimmun, Fixatti, Mister Spex, NextBike, and Nordsee.
- Grover, the circular economy startup, is the most recent unicorn startup in COI’s current portfolio.
- Individual check sizes will range between $15.1M (€15M) to $30.2M (€30M) for both initial and follow-on funding.
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Germany blockchain infrastructure company Gnosis Safe received $100M in venture funding. The firm also rebranded itself to Safe as it spun off the company from Gnosis Ltd, post a community vote earlier this year. More: - Gnosis intends to use the fresh funding to accelerate the development of the platform and support the non-profit organization Safe Ecosystem.
- The recent funding brings the firm’s total funds raised to date to $112.5M.
- Gnosis reported over 600,000 transactions on its platform, with digital assets totaling $38B.
- Over 13% of CryptoPunks NFTs are secured using Safe.
- The funding round was led by 1kx along with 60 other investors participating, including Tiger Global, Digital Currency Group, Blockchain Capital, Greenfield One, Kraken Ventures, ParaFi, Lightspeed, and Polymorphic Capital.
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British rapid-charging battery manufacturing startup Nyobolt secured $59M (£50M) in Series B funding. Tungsten supplier H.C. Starck Tungsten Powders (HCS), a subsidiary of Vietnamese mining company Masan High-Tech Materials, led the funding round. Nyobolt will use the funding to scale its production capability and complete the construction of its U.K. plant in a bid to produce millions of battery cells by 2023. More: - To date, the Cambridge-based startup has raised $83.4M, of which $10M came from its IQ Capital-led Series A funding round in Feb. 2021.
- HCS has reportedly provided $53M (£45M) of the financing for a 15% equity stake in the firm on a fully diluted basis.
- The company will help the British battery startup in scaling up its manufacturing and improving its battery recycling program.
- Nyobolt's proprietary battery technology, made by using niobium and tungsten anodes, will be able to increase power density by 10 times, at the same time bringing down charging to 90% in under five minutes.
- Other investors in the funding round include SK Group, GIC, TPG, the Abu Dhabi Investment Authority, and SeaTown.
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Quick Hits: - Elon Musk gave a shout-out to Boxabl, calling it a "cool product." Invest in Boxabl today with over 15,000+ investors!*
- British private equity and buyout firm Permira raised $16B in capital for its latest fund, higher than its initial target of $15B.
- NOVA Infrastructure, an investment firm backing middle market companies in North America, closed its Fund I with $565M in capital. The firm has already backed six companies across environmental services, transportation, energy, and communication domains, from the funds collected to date.
- Indian credit card startup OneCard doubled its post-money valuation to $1.4B, entering the unicorn club with a $100M Series D funding round led by Temasek.
- Tiger Global led a $30M Series B funding round into AI-powered retail assortment optimization solution provider Hivery. Blackbird Ventures, AS1 Partners, and OneVentures participated in the funding.
- Alexis Ohanian's 776 venture firm led a $14M seed financing into genetic testing company Nucleus Genomics.
- IRA record-keeping solutions provider Iralogix raised $22M in Series C funding led by Matt Vettel and Nick Cayer. Hybrid Capital, Circadian Ventures, Great North Ventures, Riverfront Ventures, and others backed the funding.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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