90 Seconds, the world’s leading cloud video production platform, today announced it has raised US$7.5m in Series A financing led by Sequoia India. Sequoia Capital has invested in several of the world’s most famous companies including Apple, Google, YouTube and Airbnb.
Orion Health today announced it has signed two contracts that will extend its presence in the UK. The deal will see the health giant provide technology solutions for two leading hospitals in London, and it will implement an integrated health and social care solution for NHS Fife in east Scotland. On the back of the news the groups shares have risen 5.7% to $4.25, their highest since June last year.
Pushpay Holdings has sold its SMS gateway business, Run The Red, to Modica Group for $4.5m. Staff working at Run The Red have accepted offers of employment from Modica Group. “With most New Zealand mobile messaging companies having sold out to Australian or International buyers, it is refreshing to be a part of a New Zealand led success story, and a story that doesn’t end here," says Modica Group CEO Stuart Wilson. "Already both companies have an international presence and are executing on high growth strategies".
Vista Group has bought Kiwi movie website Flicks for an undisclosed sum. Vista Group CEO Murray Holdaway says of the purchase, “We have followed Flicks for a long time and have always been aware of the synergistic benefits of combining Flicks with Vista. We’re delighted to be finally realising the opportunity, and with Paul Scantlebury continuing to lead the business, the continuation of the style and content that users of the Flicks site are accustomed to, will continue.” The exact terms of the agreement are confidential but are based on an initial payment on settlement and a deferred settlement payment based on the achievement of certain 2016 financial results.
Auckland-based mortgage broker and peer-to-peer online lender Squirrel has just closed out a NZ$3.4m equity crowdfunding offer on Snowball Effect. The minimum target for the investment round was $1 million and the maximum was $4.97m. The company is now contemplating listing on the NZX.
Specialty chemical manufacturer New Zealand Pharmaceuticals, has received $49.6 million injection from Australian private equity firm and new 51% stakeholder, Archer Capital. The price of the deal wasn’t disclosed, but is rumoured to be in the vicinity of $200 million.
The Icehouse and ICE Angels have announced a new $10m fund – dubbed ‘Tahua’ – which will invest in 25 leading kiwi start-ups over the next three years. The fund will invest up to $1m per start-up, with the fund already backing its first three. Tuhua was established in November 2015 with seven cornerstone investors: Ross Peat; Japan’s internet pioneer, Tim Williams; former PWC London Senior Corporate Finance Partner, Richard Burns; software entrepreneur, Dennis Row; The Icehouse CEO, Andy Hamilton; ICE Angels CEO, Robbie Paul, and has now has received investment from a network of kiwi business people including more than 50 ICE Angels’ members.
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