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Midnight Health CEO and Founder, Nic Blair. Image Credit: Midnight Health

Funding roundup November 22 – November 26: $313m for Moore Threads, Afterpay backed Touch Ventures leads $5.5m in Series A and Montu breaks crowdfunding records in $3.5m raise

Dynamic Business brings you the key start-up fundraising rounds from this week:

Chinese semiconductor startup Moore Threads raises $313 million in Series A 

Moore Threads, a Chinese semiconductor business, has closed an A round of funding in which it raised 2 billion yuan ($313 million) 

This round of funding was co-led by Shanghai Guosheng Group, 5Y Capital, and Bohai Sheng (Hubei) In dustrial Fund Management, and nine institutions took part, including CCB International, China Merchants Securities, and Hubei Hongtai High-Quality Development Fund. 

The funds raised this time will be used for GPU chip mass production and manufacture, GPU SOC (System on Chip) intellectual property research and development, and the establishment of a China-made GPU ecosystem.

Crypto infrastructure company MoonPay Raises $555m at $3.4b valuation

MoonPay, a payment infrastructure provider for crypto companies, has raised $555 million in an all-equity Series A round that values the firm at $3.4 billion. 

The round was led by Coatue and Tiger Global. The company said that the  funds will be used to hire people, expand geographic coverage and add more payment methods.

Till Payments upsizes recent funding round 

Till Payments, a payments fintech disruptor has received a $15 million boost to its current funding round, thanks to strategic European investors and Touch Ventures, an Afterpay-backed venture capital firm.

Touch Ventures provided $5 million to the top-up to help Till accelerate its innovation agenda and expand into the United States, the United Kingdom, and New Zealand. 

WLTH seeks to settle $1.2b in loans with a $15m fundraise

WLTH, Australian digital lending and payments provider began its $15 million capital raising round, with a goal of finishing by December 2021. WLTH has officially opened the Series A funding round to support its goal to settle $1.2 billion worth of loans by FY22.

The funding will support the company’s latest corporate merger transaction, which the founders’ claim will be the first of many.

Digital healthcare startup secures $4 million investment from nib

Midnight Health, a leading Australian digital health start-up, announced that nib, an Australian health insurer, has bought a 50 per cent equity position in the company for a total consideration of $4 million. 

The funds will be used to expand Midnight Health’s offering by hiring additional people and delivering a more robust patient-led healthcare platform, new products, marketing, and customer acquisition.

Preezie raises $5.5 million led by Afterpay backed  Touch Ventures

Preezie, an online shopping experience platform, has secured $5.5 million in a Series A round. Touch Ventures, an ASX-listed company backed by Afterpay, and Steve Baxter’s investment syndicate, TEN13, led the financing.

Preezie plans to invest the funds in team and product development, as well as worldwide expansion. Previously, the company raised $575,000 in a seed round 18 months ago.

Montu breaks more crowdfunding records in $3.5 million raise

Montu, a medicinal cannabis firm, raised $3.5 million through a crowdfunding campaign. The Montu campaign went live on the Birchal platform in 13 minutes and raised $1 million. 

In all, the campaign came in second place in Australian crowd-sourced fundraising (CSF) after Zero Co., with the second-highest individual raise in Australian history and the second-fastest campaign to reach $1 million and $2 million.

Montu now holds the record for the most CSF funds raised, with $2 million raised last year. 

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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