KPN Ventures provides growth capital to smart home alarm developer Minut

Kpn Ventures

Rotterdam, July 1, 2019 – KPN Ventures, the venture capital investment arm of KPN, announced today it has participated in the $8M Series A financing round in Minut, a Swedish tech startup that makes the Point smart home alarm. The round was led by KPN Ventures, with participation from previous backers Karma Ventures, SOSV and Nordic Makers, joined by strategic partner Centrica, bringing the total amount of funding over $10 million.

Minut has created the first complete smart alarm to keep your home safe and sound through a single device. The company has already sold devices in more than 60 countries with a growing team and new office based in London. The new capital will be used to accelerate growth across markets and to strengthen the product portfolio.

Minut has made protecting homes more accessible than ever before. Installation takes seconds with no drilling or cables to run and the app is easy to use for the whole family. The Minut smart home alarm analyses the environment and any motion or sound will be identified and alerts houseowners to threats through instant notifications. Through the use of machine-learning the sound recognition is continuously improved by the Minut community, making the system even better over time.

Nils Mattisson, CEO/co-founder of Minute: “Feeling safe shouldn’t be a luxury, or come at the cost of privacy. Until recently the most affordable solution for home security and monitoring has been Wi-Fi connected cameras, but people don’t want or trust them in their homes. Our aim is to make home security and monitoring accessible to everyone and we are excited to have KPN Ventures on board in this journey.”

Herman Kienhuis, Director of KPN Ventures said: “With their innovative ‘Point’ device, The Minut team has executed on the vision to make home security smart, simple and accessible for everybody. KPN powers the connected home and we see great opportunities to partner with Minut to help people protect their homes.”

KPN Ventures joins Cambridge deeptech investment fund IQ Capital

Kpn Ventures

Rotterdam, 17-07-2019 – KPN Ventures, the venture capital investment arm of KPN, has invested in the final close of the third early-stage investment fund of Cambridge, UK based IQ Capital, an independent fund manager focused on investments into UK technology companies with unique knowhow or strong IP and primarily originating from the Cambridge innovation ecosystem.

Today, there are some 5,900 technologies companies in Cambridge, including 12 companies valued over a billion dollars (i.e. ARM, Autonomy and Aveva), and circa 63,000 people working in technology firms. Through twenty years of investing, IQ Capital has built very strong connections with all key components of the Cambridge ecosystem, from professors, research labs, successful entrepreneurs and investors to young scientists and key opinion leaders within the tech industry. The fund size amounts to $175 million from which they aim to invest across six domains: Data Analytics, FinTech, Human Machine Interface, Internet of Things (IoT), Cyber Security and High Performance Engineering.

Since its inception in June 2018, the fund has made already 12 investments in for example Concirrus, Wluper, Iotic Labs and CCS.

This is KPN Ventures’ fifth investment in a European early-stage fund, focusing on innovative technology companies spinning out of university research and innovation hubs. Previously, KPN Ventures invested in Enschede-based Cottonwood Technology Fund, Paris-based PSL Innovation Fund, Leuven-based imec.xpand and Lisbon-based Armilar TechTransfer Fund. Through these investments, KPN Ventures aims to create early access to new technology partners, and build partnerships to experiment, improve and expand its offerings to customers.

The full press release on IQ Capital’s closing of the new fund can be accessed here.

About IQ Capital

IQ Capital is a venture capital firm, based between Cambridge and London, that invests in ‘deep-tech’ across sectors including machine learning, AI, robotics, and advanced engineering and materials, and data-focused propositions based on disruptive algorithms. All of the firm’s portfolio companies are capable of dominating their respective markets on a global scale. Initial investments range from £300k to £5m, with capacity for follow-on investment up to £10-15m. The IQ Capital team has achieved over 20 exits to date, to companies including Oracle, Google, Apple, Huawei, and Facebook, and several IPOs. IQ Capital has led 28 investments over the last three years. The firm is currently investing at seed and Series A stage from its third venture fund. In July 2019, IQ Capital launched its Growth Opportunities Fund, providing the capital to scale companies through to exit. For more information, please visit www.iqcapital.vc.

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Wirepas raises 14.4 million euros to capitalize the market momentum for Massive IoT

Tesi

Investments in companies14.5.2019

Tesi and KPN Ventures join existing investors in supporting Wirepas on its growth trajectory

TAMPERE, Finland, — May 14th, 2019 — ETF Partners, Inventure, KPN Ventures, TESI (Finnish Industry Investment) and Vito Ventures have invested €14.4 million in Wirepas, a Finnish software company that has built a wireless connectivity platform solving the major challenges of the Industrial Internet of Things (IIoT) and enabling broad adoption of Massive IoT. The additional funding, including the participation of existing investors, takes the total investment in Wirepas to €22 million.

“I am delighted to have Tesi and KPN Ventures joining as Wirepas investors and board observers. It is now clear that massive IoT networks are at the breakout phase and mesh networking from Wirepas is uniquely enabling that to happen. I am grateful that Tesi and KPN Ventures have joined our existing shareholders and share our vision.” welcomes Andrew Gilbert, Chairman of the board at Wirepas.

Wirepas will focus its investments on further strengthening and increasing the reach of the global Wirepas ecosystem as well as on continuous product development. During the last three years the company has built an ecosystem of semiconductor, module partners, OEMs and System Integrators to serve end users around the globe resulting in millions of Wirepas enabled devices shipped. Today Wirepas Mesh is being used to connect smart meters, lights and other assets in supply chain and logistics to reliably deliver the data needed by enterprises to boost their competitiveness and sustainability.

Recently signed customer agreements with industry leaders such as Prologis, Maersk and Fujitsu will provide the backbone of its future growth, adding to Wirepas’ existing customer base of over 100 companies and offering further proof of the competitive advantage of Wirepas Mesh.
“We are clearly seeing that the Massive IoT market is maturing as evidenced by our customers and partners: no longer is it about testing and piloting. We believe in the power of ecosystems where specialized vendors combine their competencies and passion to serve the customer. Together we are delivering concrete and tangible benefits to enterprises wishing to boost their efficiency and sustainability through the adoption of massive IoT. Our connectivity platform is field proven and meets the needs of a plethora of market needs ranging from asset tracking to smart cities and lighting. Wirepas increases end user return on assets significantly and aims to become the most pervasive connectivity system for massive IoT.”, summarizes Teppo Hemiä, CEO at Wirepas.

Sjoerd Spanjer, investment director of KPN Ventures: “As a leading connectivity provider, KPN acknowledges the growing momentum for IoT solutions with an increasing amount of connected devices throughout the value chain. IoT networks that can facilitate large scale deployments with flexible capabilities are becoming increasingly important for successful roll-out. The Wirepas team has developed unique best-in-class software for this purpose and is already working with leading international partners and customers. Through our investment, we aim to support Wirepas in their global expansion and see opportunities to leverage Wirepas’ technology to enhance and complement KPN’s IoT network technologies: M2M, LoRa, LTE-M and in the future also 5G”.

“We were convinced that Wirepas technology is a key enabler for Industrial IoT adoption especially in use cases where massive, cost efficient scaling is required. A number of global blue-chip customers are currently adopting the Wirepas mesh technology, which alongside economic benefits also drives positive environmental impact and resource efficiency and thereby supports our responsible investment principles. As a European company with global ambitions, Wirepas is also a natural fit with the EFSI programme”, comments Juha Lehtola, Tesi´s Director, Venture Capital.

EU enabling exceptionally significant financing rounds

Tesi’s investment in Wirepas is the first to take advantage of the new financial mechanism between the European Investment Bank (EIB) and Tesi, paving the way for large investments in growth companies. Tesi is the EIB’s first partner in the Nordics that channels financing guaranteed under the European Fund for Strategic Investments (EFSI) to SMEs and innovative midcap companies as equity investments.

”When we formed this co-investment platform with Tesi, this is the kind of investment we had in mind.” added EIB vice-president Alexander Stubb. “Although already quite competitive, in the Finnish equity investment landscape especially larger equity investment rounds were seen to be lacking investor support. This is a clear example of what Europe, and in particular the EIB, should be doing; to support innovation and improve peoples’ lives by strategic investments. We’re definitely looking forward to seeing more of these investments.”

Wirepas was founded in 2010 as a spinoff from Tampere University, where it was part of a research program to connect an unlimited amount of environmental sensors wirelessly. Since 2014, the company has provided a hardware-independent radio communications protocol based on a de-centralized network topology, using a software licensing model. Wirepas shareholders include founders, Inventure Investment Fund from Finland, Vito Ventures from Germany, ETF Partners from the UK, management shareholders and private investors. The company employs approximately 50 people in 9 countries.

Further information

Teppo Hemiä, CEO – Wirepas, +358 50 561 0198, teppo.hemia(at)wirepas.com

Patrick Sheehan, Managing Partner – ETF Partners, +44 20 7318 0700, patrick(at)etfpartners.capital

Sami Lampinen, CEO – Inventure, +358 40 520 5295, sami(at)inventure.fi

Stijn Wesselink, Press Officer – KPN, +31 6-25074971, stijn.wesselink(at)kpn.com

Juha Lehtola, Director Venture Capital – Tesi, +358 400 647 671, juha.lehtola(at)tesi.fi

Benedikt von Schoeler, Managing Partner – Vito Ventures, +49 173 8669952, bene(at)vito.vc

 

Wirepas Mesh enables wireless IoT networking at massive scale. It is a de-centralized IoT network protocol that can be used to connect, locate and identify lights, sensors, beacons, assets, machines and meters in cities, buildings, industry, logistics and energy – with unprecedented scale, density, flexibility and reliability. It can be used on any radio hardware and on any frequency band. Wirepas has its headquarters in Tampere, Finland and offices in Australia, France, Germany, India, South Korea, Taiwan, the UK and the United States. Things connected – Naturally.
www.wirepas.com

ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Our funds come from institutional investors, global corporations and family offices. We create value by investing in technology companies that make a difference. We call it ‘sustainability through innovation’. Environmental Technologies Fund and Environmental Technologies Fund 2 L.P. is supported by the European Union through the ‘Competitiveness and Innovation Framework Programme’ (CIP).
Sustainability through innovation – www.etfpartners.capital

Inventure is a Nordic technology fund backing early-stage entrepreneurs. Having the roots in Finland, the team enjoys domains many don’t feel comfortable with, and makes big bets on deep tech. The strong capital base of €250M allows Inventure to lead investments starting from initial seed-stage all the way through expansion. The team operates from offices in Helsinki and Stockholm.
inventure.fi

KPN Ventures is the corporate venture capital arm of KPN, The Netherlands’ leading telecom & ICT company. KPN Ventures aims to build value-creating partnership with innovative technology companies, providing access to capital, industry expertise, technical infrastructure, professional network and channels to customers. It focuses on direct and indirect (fund-in-fund) early-stage investments in the segments: Networking Technology, Cyber Security, Internet of Things, Smart Home, Digital Healthcare, Video/OTT, Cloud and Data/AI. KPN Ventures has its main office in Rotterdam, The Netherlands.
www.kpnventures.com

Tesi is a state-owned investment company that invests profitably and responsibly, creating value from day one. Tesi’s investments under management total EUR 1.2 billion and it has altogether more than 700 companies in portfolio, either directly or through funds. Tesi helps Finland to the next level of growth and internationalisation.
www.tesi.fi / www.dtg.tesi.fi / @TesiFII

Vito Ventures is one of Europe’s leading deep-tech investors. The early-phase investor is rooted in the German SME markets and boasts a unique network within European industry. The team has a comprehensive understanding of the deep-reaching technological change as well as the dynamics and requirements for both, established companies as well as start-ups.
www.vito.vc

Contrast Security Closes $65 Million Series D Funding Round

AXA

Round led by new investor Warburg Pincus validates the visionary approach of Contrast’s
innovative software security platform

Los Altos, Calif., Feb. 28, 2019 – Contrast Security, the pioneer in embedding vulnerability
analysis and exploit prevention directly into modern software, today announced it has completed
a $65 million Series D funding round led by new investor, Warburg Pincus. Existing investors,
including Battery Ventures, General Catalyst, M12 (Microsoft’s Venture Fund), AXA Venture
Partners and Acero Capital all participated in the oversubscribed round. This brings the
company’s total funding raised to $122 million. This investment will strengthen Contrast
Security’s position as the leading platform to enable secure DevOps. The funding will accelerate
the company’s technology innovation, field operations, international expansion along with
significant growth in its customer-success team. These investments are all in order to meet the
rapidly increasing demand for the company’s modern approach to software security.
Businesses today are developing software at breakneck speeds fueled by modern approaches
such as Agile, DevOps, microservices, APIs, cloud-native apps and PaaS environments. This
creates a major gap between the demands for faster software development and the challenges
brought about by legacy software security tools. Contrast Security is a pioneer in creating a new
approach, leveraging patented binary instrumentation to protect applications at every point in
their lifecycle. Modern software requires an equally modern security model that can protect the
integrity of the business with innovative security safeguards built directly into the software as
they are developed and deployed.

“Everything about software today is different, from the increased dependence on third-party and
open source components, to microservices and API-centric architectures, and complex cloud
deployments. However, many companies still are trying to rely on 15-year-old legacy security
tools for their modern software stacks. This approach leaves them with restricted software
development capabilities or living with substantial enterprise risk of a data breach,” said Alan
Naumann, CEO at Contrast Security.

Modern software requires businesses to embrace innovative and modern software models,
changing the rules of engagement. For example, companies such as Slack created a revolution
in workforce collaboration built for modern software. AppDynamics and Atlassian have changed
the way performance management and issue tracking can be done seamlessly across business
functions. Modern software is built with innovative tools that are collaborative, cross-functional
and highly integrated. Contrast Security is breaking decades-old constraints as the first and only
software security platform that is built for the modern software era.
“With strong support from enterprise customers, key industry analysts validating our visionary
approach and extraordinary backing from top tier investors, we anticipate becoming the
essential foundation for modern software security with accurate and continuous software
protection. We are thrilled to have Warburg Pincus join us as a partner in this journey,” said
Naumann.

Contrast Security has experienced strong corporate growth and fast-yielding financial
performance in FY’2018 including:
• Overall ARR growth of >120%+ year-over-year
• Net upsell & expansion rates of >135%
• Significantly increased customer base with the addition of 520 new companies using
Contrast solutions
• 500 percent year-over-year growth in the number of $1 million or greater transactions
“Alan and the team at Contrast Security have built a formidable platform with a next-generation
approach to application security. Our market research shows that companies around the globe
are investing in Digital Transformation and software development initiatives. High speed
DevOps software and rapid cloud adoption create an enormous security risk if legacy tools are
used. These mega-trends create a uniquely large opportunity for Contrast Security,” said Brian
Chang, Managing Director at Warburg Pincus. “We are excited to back Contrast Security and to
further validate their position as a new, modern and truly scalable approach to application
security.”

Contrast Security’s unified platform includes its flagship products, Contrast Assess and Contrast
Protect, that work continuously across popular development approaches (DevOps, Agile,
Waterfall, etc.) and technologies (Cloud, Containers, Open Source Software, etc.) to enable
protection throughout the software lifecycle. Contrast Security’s platform allows IT executives to
finally close the chasm between the number of applications needed to run the business and the
resources needed to secure them. In 2018 alone, Contrast Security discovered over 1,900,000
vulnerabilities and protected against over 52,000,000 confirmed applications attacks across
billions of transactions.
“A major business goal at Comcast is to speed up the development process and shorten time to
market. This objective challenged us to identify next generation application security technology
that could provide us constant and accurate feedback for our application portfolio. Many tools
that claim to target this accelerating pace are nothing more than DevOps marketing lipstick on a
traditional tooling pig,” said Larry Maccherone, DevSecOps Transformation Lead at Comcast.
“However, Contrast fundamentally transforms the equation around vulnerability detection and
runtime protection. It fits the emergent DevOps mental model perfectly which is more than can
be said of any tool developed with the security specialist as its primary user.”
In addition, Contrast Security recently announced Community Edition, a free, full-strength,
DevSecOps solution that allows development, security and operations teams to deliver secure
software on time to meet growing business requirements. This free solution is designed to help
small teams building Java applications and APIs protect against the most commons security
flaws, including the Open Web Application Security Project (OWASP) top 10 vulnerabilities.

About Contrast Security
Contrast Security is the world’s leading provider of technology that embeds highly effective
vulnerability analysis and exploit prevention directly into modern software. Contrast’s patented
deep security instrumentation is the breakthrough technology that enables highly accurate
assessment and always-on protection of an entire application portfolio, without disruptive
scanning or expensive security experts. Only Contrast has sensors that work actively inside
applications to uncover vulnerabilities, prevent data breaches, and secure the entire enterprise
from development, to operations, to production. More information can be found at
www.contrastsecurity.com or by following Contrast on Twitter at @ContrastSec.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The
firm has more than $43 billion in private equity assets under management. The firm’s active
portfolio of more than 180 companies is highly diversified by stage, sector and geography.
Warburg Pincus is an experienced partner to management teams seeking to build durable
companies with sustainable value. The firm is a leading investor in security companies, with
current investments including CrowdStrike, BitSight, eSentire, Cyren and Zimperium, among
others. Founded in 1966, Warburg Pincus has raised 17 private equity funds, which have
invested more than $73 billion in over 855 companies in more than 40 countries. The firm is
headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London,
Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For
more information, please visit www.warburgpincus.com.

AXA Venture Partners (AVP) raises $150 million for second Early Stage Fund.

AXA

AVP, a venture capital firm investing in high-growth technology companies, announces it has
completed the first closing of the second vintage of its Early Stage Fund (AVP Early Stage II)
with $150 million (€130 million). The first Early Stage Fund, a $110 million vehicle raised 2015,
has now been successfully deployed. The launch of the second Fund confirms AVP’s ambition
and commitment to early stage venture investing.

The fundraise has generated strong interest from existing and new investors and confirms the
differentiation of AVP’s approach to venture investment: strong team with deep sector
expertise, global presence and ability to add value beyond capital, notably through business
development opportunities with the investors of the Fund.
Similar to AVP Early Stage I, AVP Early Stage II will focus on North America, Europe & Israel and
will aim to invest in outstanding technology businesses, pre and early revenue, in enterprise
SaaS, consumer platform and SME solutions, with particular focus on fintech and digital health.
AVP Early Stage II will write initial checks up to $6 million and will support entrepreneurs in
their ambition by providing them business development opportunities with AXA and any other
relevant corporations.

AVP confirms with this fundraise, its position as a unique platform for investments in
technology with $600 million of assets under management (AUM) through three pillars of
investment expertise: Early Stage Fund, Growth Stage Fund and Fund of Funds, allowing its
investors to choose the most appropriate solution for tech investing.
AVP’s ambition is to become a preferred partner for entrepreneurs looking to grow their
business in Europe, North America and Israel. Since 2015, AVP has supported more than 40
companies in the Early and Growth stages with a focus on the following verticals: digital health,
cyber-security, enterprise software, artificial intelligence, fintech/insurtech, most recently
including investments in early stage companies such as Hackajob, K4Connect, Futurae and
growth stage companies like Zenjob, Phenom People and Happytal.
Francois Robinet, AVP Managing Partner, said: “This fundraise was completed at a record speed
with existing and new investors. This is a strong vote of confidence for our team and strategy,
and a recognition of what has been achieved with our first Early Stage Fund. We plan to hold
Paris – London – New York – San Francisco – Hong Kong
a second closing with additional new investors. This fundraise strengthens AVP’s positioning as
a leading player for ambitious entrepreneurs across Europe and North America.”

ABOUT AVP
AXA Venture Partners (AVP) is a venture capital fund investing in high-growth, technologyenabled
companies. AVP has built a unique investment platform specialized in tech investments
with $600 million of assets under management through three pillars of investment expertise:
Early Stage Fund, Growth Stage Fund and Fund of Funds. To date, AVP has invested in 40 Early
and Growth equity deals and 6 Fund investments. AVP team operates globally backed by offices
in San Francisco, New York, London, Paris and Hong Kong. Beyond investments, AVP provides
access to business development opportunities helping portfolio companies to scale globally
and accelerate their growth.

ABOUT THE AXA GROUP
The AXA Group is a worldwide leader in insurance and asset management, with 160,000
employees serving 105 million clients in 62 countries. In 2017, IFRS revenues amounted to Euro
98.5 billion and IFRS underlying earnings to Euro 6.0 billion. AXA had Euro 1,439 billion in assets
under management as of December 31, 2017.

For further information, please contact:
Sébastien LOUBRY
Partner, Business Development
sebastien@axavp.com
06.15.31.61.68

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First exit by EQT Ventures – sells stake in Small Giant Games at USD 700 million valuation

EQT Ventures

  • EQT Ventures sells its stake in mobile games company Small Giant Games to Zynga, a leading social games developer
  • EQT Ventures led a USD 5.7 million Series A round in March 2017 and an additional USD 41 million investment at the end of January 2018

The EQT Ventures fund (“EQT Ventures”) today announces that it entered an agreement to sell its ownership stake in the Finnish mobile gaming studio, Small Giant Games (“the Company”) to Zynga Inc. (Nasdaq: ZNGA), a leading social game developer, headquartered in San Francisco, California. The implied valuation of the Small Giant Games transaction is at USD 700 million. EQT Ventures led a USD 5.7 million Series A round in March 2017 and then led an additional USD 41 million investment in January 2018.

Founded in 2013, Small Giant Games’ team of 47 employees developed the hit franchise Empires & Puzzles. The game blends approachable Match-3 battles with deeper gameplay elements including Hero Collection, Base Building and Social Alliances. Just ten months after Empires & Puzzles’ launch in March 2017, the game had developed a strong new brand and loyal following, and Small Giant Games reported USD 33 million in revenues. In the first four months of 2018, the company had already exceeded 2017’s revenue. In addition, Empires & Puzzles has frequently made it into the the Top 10 Grossing Games on the Google Play Store and Apple App Store and has now been downloaded more than 26 million times.

In March 2017, EQT Ventures led Small Giant Games’ USD 5.7 million Series A round and has remained the largest individual owner in the Company since. Following the successful launch of Empires & Puzzles, EQT Ventures was dedicated to supporting the Company’s continued growth journey and, at the end of January 2018, the fund led an additional USD 41 million investment. During the investment period, EQT Ventures – with its team’s mobile gaming experience – supported the Company as it sought to scale Empires & Puzzles.

Timo Soininen, CEO at Small Giant Games, commented: “Our studio has always believed that small, focused and talented teams with a big vision can achieve huge things. EQT Ventures has supported us from the start – not just with capital, but also strategic advice and guidance. The EQT Ventures team’s extensive mobile gaming experience and entrepreneurial mindset has proved invaluable when scaling Empires & Puzzles and we’ve enjoyed working closely with Lars and the rest of the team. I’m confident that partnering with Zynga is now the right next step in our evolution.”

Lars Jörnow, Partner at EQT Partners and Investment Advisor to EQT Ventures, concluded: “Huge congratulations to Timo, Markus, Otto and the rest of the Small Giant team – this is a well-deserved milestone for everyone at the company. The Small Giant team checked all the boxes for EQT Ventures: small, passionate, agile, data-driven and determined to build a global hit game. The EQT Ventures team would like to thank Small Giant Games for letting us be part of their journey – it has been a true partnership and we look forward to the next phase!”

Contact
Lucy Wimmer, Communications Partner, EQT Ventures, lucy@eqtventures.com, +44 7551 289 177
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT Ventures
EQT Ventures is a multi-stage VC fund with commitments of just over EUR 566 million. The fund is based in Luxembourg and has investment advisors stationed in Stockholm, Amsterdam, London, San Francisco and Berlin. Fuelled by some of Europe’s most experienced company builders and scalers, EQT Ventures helps the next generation of entrepreneurs with capital and hands on support. EQT Ventures is part of EQT, a leading investment firm with more than EUR 50 billion in raised capital across 28 funds.

More info: www.eqtpartners.com

About EQT
EQT is a leading investments firm with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Small Giant Games
Small Giant Games was founded in early 2013 with the belief that small, talented teams can do extraordinary things. We bring years of experience to the table, with a crew of top players in game development, software engineering and graphic design. We’re based right in the heart of downtown Helsinki, Finland.

More info: www.smallgiantgames.com

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Robert Bosch Venture Capital participates in Graphcore’s USD 200 million Series D

Robert Bosch

A world leading AI chipmaker valued at USD 1.7bn

  • Early backer Robert Bosch Venture Capital continues its support after leading Series A
  • Machine intelligence training and inference at 10x to 100x the speed of current solutions
  • Investment Partner Dr. Hongquan Jiang: “Graphcore is changing the paradigm of AI computing in the cloud and at the edge”
18 December 2018, Stuttgart. Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company, of the Bosch Group, participated in the just announced financing round of Graphcore. The AI (Artificial Intelligence) chipmaker just finalized a new USD 200 million funding round, which values the company at USD 1.7 billion

A new kind of processor

Graphcore has built a completely new kind of processor and software for AI and machine intelligence. It has been shipping first products to early access customers and generated first revenues this year, just two years after the company was founded. High volume production is now ramping up to meet customer demand for its Intelligent Processing Unit (IPU) PCIe processor cards. Graphcore’s IPU is the first processor to be designed specifically for machine intelligence training and inference and delivers an increase in speed of 10x to 100x compared to today’s hardware. “Graphcore is changing the paradigm of AI computing in the cloud and at the edge. The highly efficient and massively parallel IPU technology can significantly improve AI driven products in many categories such as autonomous driving and security”, says Dr. Hongquan Jiang, Investment Partner at RBVC and board member of Graphcore. “We are very excited to accompany Graphcore’s journey in becoming a global leading AI company”.

Rapid growth towards a global leading AI company

The company is currently in a stage of rapid growth and has tripled the size of its team in 2018. This rate of growth will now accelerate significantly driven by the new investment. The funding is a further step towards fulfilling the company’s ambition to build a global technology company, focused on this new and fast-growing machine intelligence market. RBVC led Graphcore’s Series A in 2016 and has continuously supported the company that has now raised over USD 300 million in funding. RBVC Managing Director Dr. Ingo Ramesohl says: “Graphcore is a perfect fit for the RBVC portfolio in artificial intelligence technologies. We see enormous business potential with Bosch.”

A new age of computing

Nigel Toon, CEO and co-founder of Graphcore, says: “Machine intelligence marks the start of a new age of computing which needs a radically different type of processor and software tools. This new, fast growing market creates the opportunity for Graphcore to build a major global technology company that can help innovators in AI achieve important breakthroughs.”

About RBVC GmbH

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models as well as new materials that are relevant to the above-mentioned areas of business.

Additional information is available at www.rbvc.com

About Graphcore
Graphcore’s Intelligence Processing Unit (IPU) hardware and software lets innovators create next generation machine intelligence solutions. The IPU is the first processor to be designed specifically for Machine Intelligence and delivers between 10x to 100x speed up compared to today’s hardware. Graphcore has raised over $300m in funding from leading financial and strategic investors and is headquartered in Bristol UK, with offices in London UK, Oslo Norway, Palo Alto USA and Beijing China.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,000 associates worldwide (as of December 31, 2017). The company generated sales of 78.1 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.

As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 125 locations across the globe, Bosch employs some 64,500 associates in research and development.

Additional information is available online at www.bosch.comwww.iot.bosch.comwww.bosch-press.comwww.twitter.com/BoschPresse.

happytal raises €23 million to revolutionize hospital inpatient experience

AXA

Paris, November 29, 2018 – happytal, French startup specializing in enhancing inpatient experience, announces it
has closed a €20 million equity fundraising led by AXA Venture Partners (AVP) and backed by existing shareholders
Partech and Compagnie d’Anjou and new shareholder Alliance Entreprendre, together with a €3 million loan from
Bpifrance.

Funds raised will allow happytal to step up its roll-out in hospitals, medical centres and retirement homes in France
and abroad. As Pass French Tech prize-winner last July, happytal will also draw on funds raised to enhance its hightech platform, which is blazing a trail in making online patient procedures user-friendly and easy.
To support its growth, 200 new top-class staff will be hired in 2019, primarily for business development, tech and
operations.

happytal was founded in 2013 by health industry-savvy founders and strives to revolutionize patients’ quality of life
throughout their healthcare journey from pre-admission until they return home. Patients and their loved ones can
carry out pre-admission procedures online, request a private room, instantly give a satisfaction rating and enjoy a
broad concierge services offering to smooth and improve their inpatient stay, including wellbeing, delicacies,
flowers, health products and home help. To provide such services, happytal engages personally selected artisans
and carers from nearby the health establishment, thereby contributing to local economies.
Five years since it was founded, happytal is now present in over 70 healthcare establishments in France and
Belgium, and has so far created over 300 jobs in the regions and at its Paris head office. Over 25,000 patients, their
loved ones and hospital staff have been won over by happytal and use it every month with a 95+ per cent
satisfaction score!

Pierre Lassarat, happytal co-founder and CEO, said: “Our rapid growth testifies that our people-focused and techbased services are very popular with healthcare establishments, which increasingly need user-friendly and nimble
systems. Our vibrant and dynamic people and the trust our users have in us mean we can expand our offering, take
on more staff and continue to invest”.

Romain Revellat, happytal joint founder and chairman, exclaimed: “We are thrilled to welcome new investors – AXA
Venture Partners (AVP) & Alliance Entreprendre – while pursuing our new business venture with our existing
shareholders – Partech and Compagnie d’Anjou. Their trust in us and this additional big equity investment are
testimony to our success while also reflecting our determination to maintain growth and make happytal a partner
of choice for patients and their loved ones”.

About happytal
The startup Happytal seeks to revolutionize hospital inpatient experience end-to-end by helping patients through all procedures right from
pre-admission to returning home, while providing concierge services, which smooth their stay and make it easier for their loved ones to help
them remotely. happytal’s solution also extends to a broad range of hospital services designed to enhance hospitals’ appeal and put patient procedures online – online pre-admission, online private room request, discharge lounges, real-time satisfaction measures etc.
happytal was set up in 2013 by healthcare industry-savvy founders and is now present in over 70 healthcare establishments in France and Belgium and every month attracts 25,000-plus patients, loved ones and hospital staff users. To learn more go to www.happytal.com
happytal is a Silver Alliance member. Silver Alliance, comprising 18 companies engaged in old people care, was formed in 2018 to bring about teamwork among entrepreneurs in ways that will benefit society at large, stimulate the economy and create local jobs. To learn more go to www.silveralliance.fr

About AXA Ventures Partners
AXA Venture Partners (AVP) is a venture capital fund investing in high-growth, technology-enabled companies. AVP manages $450m broken down between $275m direct investments and $175m for its Fund of Funds business. To date, AVP has invested in some forty seed and growth equity deals. AVP teams operate globally backed by offices in San Francisco, New York, London, Paris and Hong Kong.
To learn more go to www.axavp.com. Contact: François Robinet (francois@axavp.com) / Sébastien Loubry (sebastien@axavp.com)

About Partech
Partech is a big private equity investor in grand-breaking businesses from its offices in San Francisco, Paris, Berlin and Dakar. The firm’s people provide funds, operational experience and strategic advice to entrepreneurs at all stages of development including seed, venture and growth investments. The firm’s investment capacity exceeds €1 billion. Equity investments range from €200,000 to €50m and cover a broad range of technologies, goods and corporate and consumer services including IT systems, online brands, services, hardware and deep tech. To date,
Partech-backed companies have completed 20-plus IPOs and the firm has sold over 50 $100m-plus strategic investments. Partech’s current portfolio: https://partechpartners.com/companies/

Press Contact
Agence Ballou PR
Mickaël Barreteau & Isabelle Renard

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KPN Ventures sells minority stake in SecurityMatters to ForeScout Technologies

Kpn Ventures

KPN Ventures has sold its minority holding in its portfolio company SecurityMatters to ForeScout Technologies. The transaction is part of a successful bid by ForeScout Technologies to acquire full ownership of SecurityMatters. SecurityMatters is a global leader in operational technology (OT) network protection.

KPN Ventures invested in Eindhoven-based SecurityMatters in 2016, alongside other investors. Herman Kienhuis, Managing Director KPN Ventures states: “The SecurityMatters team has achieved great international success with their superior technology to protect critical infrastructure, and the acquisition by ForeScout Technologies allows them to expand that further. We’re proud to have supported them in their growth.”

“With KPN, we had a much needed investor with an outstanding knowledge of the services market, one who also was open to face with us the challenge of Industrial IoT,” said Sandro Etalle, co-founder and chairman of SecurityMatters.

KPN works together with SecurityMatters in providing their cybersecurity solution to industrial clients in The Netherlands and in developing an innovative office building automation security solution.

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About KPN Ventures

KPN Ventures is the venturing arm of KPN, The Netherlands’ leading telecom & ICT company. KPN Ventures aims to build value-creating partnership with innovative technology companies, providing access to capital, expertise, network and customer channels. It focuses on direct and indirect (fund-in-fund) early growth-stage European companies in the segments: Internet of Things, Connected Home, Digital Healthcare, Cyber Security, Mobile/Video (OTT) Services, Cloud Computing, Data & Analytics and Networking Technology. KPN Ventures has its main office in Rotterdam and has invested a.o. Actility, EclecticIQ, Viloc, Sensara, CardioSecur, Sentiance, Nello, Zecops and CUJO.

www.kpnventures.com

About SecurityMatters

Founded in 2009, SecurityMatters provides organizations with device visibility, continuous network monitoring, and threat and anomaly detection specific to operational technology and industrial environments using passive collection techniques that don’t impact operations. Its solution protects networks from the widest range of threats utilizing patented technology and with a library of over 1600 ICS-specific threat indicators.

www.secmatters.com

About ForeScout Technologies

ForeScout Technologies, Inc. helps make the invisible visible. The company provides Global 2000 enterprises and government agencies with agentless visibility and control of traditional and IoT devices the instant they connect to the network. The technology integrates with disparate security tools to help organizations accelerate incident response, break down silos, automate workflows and optimize existing investments.

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Atomico invests in Beekeeper: Using Saas to connect the unconnected

Atomico

Two billion people – or 80% of the world’s workforce – do not spend their day at a desk. As a result, this massive scattered workforce is often forgotten when it comes to the rapid advances in workplace productivity software the rest of us often take for granted. In many industries, knowledge workers back at HQ get more and more productive while others in the field are often left to fend for themselves.

One of the core problems with workforce communication and management: in the absence of a a corporate email address, how does a security worker talk to HR? How does a cleaner reach out to a colleague or manager?

Aligning employees without email addresses or corporate devices with the entire organisation in a centralised, secure environment is a major challenge. 75% of the non-desk workforce currently use their personal mobile devices to communicate with co-workers, and the lack of functional tools usually forces employees to use consumer-based workarounds like WhatsApp or Facebook Messenger. Even aside from the obvious management & oversight challenges associated with this, cybersecurity scandals and GDPR compliance drive home the inadequacy of this approach.

Beekeeper has emphatically solved this problem. They’ve built the world’s most flexible secure communication and operations platform for non-desk based and on-demand workers. Powerful tools to allow communication between workers and managers means higher team engagement, a more cohesive culture and reduced turnover.

 

 

Over the last few years, we’ve watched Beekeeper founders Cris & Flavio and their team build a world-class product and exceptional culture. They’ve gone head-to-head with some of the world’s leading employee communications platforms, and won. Repeatedly. They are the perfect example of best in class SaaS products we believe will continue to emerge from Europe at an accelerating pace.

Beekeeper’s approach – which was designed for the hospitality, manufacturing, retail, construction, transport and logistics, food production, NGOs and healthcare industries – takes into account how diverse staff can be today. Employees and managers can communicate across languages and geographies using one unified app. Utilising the latest approaches in machine translation, Beekeeper can translate seamlessly across languages – a feat that would have been impossible just a few years ago.

We were impressed to see the team realize the importance of building security, compliance, and integration at the core of the app, making a point of hiring a veteran executive to lead compliance early in the company’s history. The result is a platform that consistently wins over security conscious yet user experience driven enterprises, from Hilton to Heathrow.

At Atomico, we back founders using technology to rewire the world towards something better for as many people as possible. We believe technology should make a positive impact on everyone’s lives and work.

This is why we are proud to join our friends at Keen Ventures and co-lead Beekeeper’s Series A extension. We’re in good company – a diverse group of strategic investors is enthusiastically joining us, including Samsung NEXT, Edenred Capital Partners and Swiss Post.

Beekeeper joins the stable of enterprise SaaS companies that Atomico is proud to support, including Pipedrive, Bitmovin, and Scandit. One thing they all have in common is that they’ve set the world in their sights from the get-go. Beekeeper calls Switzerland home but already serves customers in 130 countries.

We look forward to helping Cris and the Beekeeper build the category winning company we see them being. Now, more than ever, it’s critical that non “knowledge workers” aren’t left behind by the digital transformation occurring absolutely everywhere.