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Fundings-in-Brief: Harvard Business School Invests in UK Satellite Startup, Middleland Backs Flower Delivery, more

April 28, 2016

UK Satellite Startup Rezatec Closes $1.46m Seed Round

Based in the UK, satellite company Rezatec has raised a $1.46 million seed round with Russian-led Run Capital and Harvard Business School Alumni Angels. Located in Hartwell’s Satellite Applications Catapult, the company offers a so-called “landscape intelligence program” that detects geographic and weather information to generate custom suggestions for crop farmers and utility companies. The company taps ground instruments to support its satellite data collecting technologies. Rezatec also offers services geared toward the water, forestry, and carbon-emissions monitoring fields. Hartwell is home to a branch of the European Space Agency’s Business Incubation Centre and the headquarters for the Satellite Applications Catapult, which aggregates world-class facilities and experts to develop new satellite-based products.

IoT Startup Helium Raises $20m Series B

Offering smart sensors and IoT technologies, Helium has closed a $20 million Series B round with insurance company Munich RE/Hartford Steam Boiler Ventures, early stage venture capital firm FirstMark Capital, venture capital firm Khosla Ventures, and Google’s venture arm GV. Its sensors capture data around temperature, doors opening and closing, and environmental metrics for the food services, hospital, and building management industries.

NYC Flower Delivery Startup Urban Stems Closes $6.8m Series A

Urban Stems, a fresh cut flower delivery service, has closed a $6.8 million Series A with a long list of investors including agtech VC Middleland Capital, NYC seed investor Great Oaks Venture Capital, Sagamore Ventures, Interplay Ventures, network-driven venture firm NextGen Venture Partners, and Virginia-based SWaN & Legend Venture Partners, which led the round. This round follows the company’s $1.5 million seed round closed in February 2015.

Indian Online Meat Delivery Platform Licious Raises $3m Series A

Bengaluru-based food startup Licious has closed a $3 million Series A with global fund Mayfield India II Management. The company intends to use the funds to partner with executive chefs at five-star hotels and by expanding to other markets in the country. Last year, the company closed a $1 million seed round with marquee investors like Mohandas Pai, Kanwaljeet Singh, and Kaushal Agarwal. The startup set out in September 2015 with the goal to become India’s biggest fresh meat delivery brand. Currently reporting roughly 15,000 orders per month, the brand hopes to hit one million orders monthly by October 2016.

Ontario Allocates $5.1 Million to Soil Mapping Technology

The Canadian Government and Ontarian governments have earmarked $5.1 million in funding to help farmers make better use of soil mapping technologies. The investment will be aimed at helping farmers modify their operations through data support, including information about climate change and the environmental health of Ontario’s waterways. The soil mapping will start in Spring 2016 at farmland located in Ottawa, Peterborough and the corridor between Cochrane and Hearst. A number of methodologies will be used, including remote sensing, GIS, specialized computer software, light detection and ranging, and more. The next area for mapping is the upper portion of the Grand River Conservation Authority.


South Korean Food Delivery Startup Baedal Minjok Closes $50m Round

Seoul-based food delivery app Baedal Minjok, the brainchild of Woowa Brothers Corp, has raised $50 million from Chinese investment manager Hillhouse Capital Group. The funding will be used to help the company expand its delivery services, particularly when it comes to fresh and prepared foods. It reported a total of $1 trillion recorded transactions last year. Woowa Brothers maintains some other delivery apps including food and drink delivery app Baemin Riders and fresh food delivery app Baemin Fresh. In November 2014, Baedal Minjok scooped up $36 million in funding from Goldman Sachs.

Indian Staple Food Delivery Service Milkbasket Raises $500k

Offering deliveries on staple food items like milk, eggs, bread, butter, and juice to Indian residents, Milkbasket has closed a $500k seed round with early-stage tech and e-commerce firm EVC, Zhu Dao Investments founder Li Jian, and YeahMobi CEO Peter Zou. Based in Guargaon, India, the subscription-based service offers free deliveries scheduled for no later than 7 am each day. The startup will allocate the funds to expanding its employee roster, amping up its logistics network, and enhancing technology. Originally, the company only offered milk but has since grown to offer 3,000 different products for delivery. Its mobile app has a recorded 1,000 downloads, reports Milkbasket.

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