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Corporate Venture

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Investments

10

Portfolio Exits

1

Funds

1

About Hitachi Ventures

Hitachi Ventures is the global venture capital arm of Hitachi Group, a global industrial player active in a broad range of technology sectors. It invests in series A/B/C rounds in globally leading startups and has offices in Munich, Germany, and Boston, USA.

Hitachi Ventures Headquarter Location

Leopoldstraße 154

München, 80804,

Germany

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Latest Hitachi Ventures News

Provectus lands $11.4m in funding round

Jan 11, 2022

Provectus lands $11.4m in funding round By Varun Bodhi | 16 December 2021 Australian synthetic biotech company Provectus Algae has raised $11.4 million in a pre-series A funding round led by Hitachi Ventures, a joint venture between Hitachi and Vectr Ventures. Provectus specialises in biomanufacturing microalgae to produce ingredients for a range of industries and applications. Other investors were Possible Ventures, Acequia Capital, existing shareholders, and additional private investors. The company will use the funds to expand its sustainable biomanufacturing platform and increase early-stage product development capabilities through research and development (R&D) operations. Provectus said it would also commercialise products that are set for development as well as increase its commercial production capacity. Provectus Algae CEO Nusqe Spanton said the two companies’ values were closely aligned and he waslooking forward to working with Hitachi Ventures. “To have the Vectr Ventures team step up again and co-lead this round alongside Hitachi Ventures means a lot to our team. The support they have provided to date has been invaluable and we are pleased to have their continued backing,” Spanton said. Provectus has been at the forefront of synthetic biology breakthrough. In September, the company received a $250,000 grant co-funded by the Advanced Manufacturing Growth Centre (AMCG) to commercialise its novel algae manufacturing technology. The project was expected to generate initial revenue of up to $10 million from food and agricultural applications Provectus specialises in biomanufacturing micro algae. and create up to 20 new jobs. In July, the company won a Marine Bioproducts Cooperative Research Centre grant to advance its R&D and commercialisation program. Currently, the company’s product pipeline includes two recombinant proteins and a suite of natural products in development, with one already under a commercial agreement with a global food and beverage ingredients supplier. Hitachi Ventures invests in innovative start-ups in the environment and health care sector. Hitachi Ventures partner Pete Bastien said Provectus was the cornerstone investment in its second funding round because it was a perfect fit for the type of start-ups it invests in. “Through this investment and more to come, Hitachi is working to solve the global environmental and social issues in collaboration with like-minded, visionary entrepreneurs. “Together, we are working towards the realisation of a decarbonised sustainable society,” Bastien said. Click here for the Food & Drink Business podcast episode with Provectus founder and CEO Nusqe Spanton.

Hitachi Ventures Investments

10 Investments

Hitachi Ventures has made 10 investments. Their latest investment was in Weka as part of their Series D on January 1, 2022.

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Hitachi Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/4/2022

Series D

Weka

$73M

Yes

3

12/14/2021

Seed VC - II

Provectus Algae

$8.11M

Yes

Acequia Capital, Possible Ventures, Undisclosed Investors, and Vectr Ventures

4

11/23/2021

Series C - III

Rescale

$50M

No

3

9/14/2021

Series C

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$99M

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10

5/12/2021

Series C

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$99M

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10

Date

1/4/2022

12/14/2021

11/23/2021

9/14/2021

5/12/2021

Round

Series D

Seed VC - II

Series C - III

Series C

Series C

Company

Weka

Provectus Algae

Rescale

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Amount

$73M

$8.11M

$50M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Acequia Capital, Possible Ventures, Undisclosed Investors, and Vectr Ventures

Sources

3

4

3

10

10

Hitachi Ventures Portfolio Exits

1 Portfolio Exit

Hitachi Ventures has 1 portfolio exit. Their latest portfolio exit was SOPHiA Genetics on July 23, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/23/2021

IPO

$99M

1

Date

7/23/2021

Exit

IPO

Companies

Valuation

$99M

Acquirer

Sources

1

Hitachi Ventures Fund History

1 Fund History

Hitachi Ventures has 1 fund, including Hitachi Ventures Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Hitachi Ventures Fund II

$150M

1

Closing Date

Fund

Hitachi Ventures Fund II

Fund Type

Status

Amount

$150M

Sources

1

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