Happy Thursday! Dan is still in Florida enjoying the sun, so I'm back to take you through the day's news from San Francisco where it's way too early.
As always, send me tips, scoops and thoughts at email@example.com (or just hit reply to this email). Here we go ...
Illustration: Aïda Amer/Axios
Juul, the controversial vaping and e-cigarette company, is officially in bed with one of the largest tobacco companies, Altria. The companies confirmed early this morning Altria's investment of $12.8 billion for a 35% stake in Juul.
• Food delivery: Swiggy, an India-based food delivery company, raised a $1 billion round led by Naspers, with DST Global, Meituan Dianping, Coatue Management, Tencent, Hillhouse Capital, and Wellington Management also participating.
🎧 Podcast: Listen to a recently recorded interview between Dan and Ted Leonsis, CEO of Monumental Sports & Entertainment (which includes the Washington Capitals & Wizards) about the future of sports betting. Find it here.
Pinterest CEO Ben Silbermann at Sun Valley. Photo: Drew Angerer/Getty Images
Pinterest is reportedly considering an IPO next year that could be as early as April, according to the Wall Street Journal. It could seek a valuation of $12 billion, the same as when it last raised funding, though that could change.
🚑 Relay Therapeutics, a Cambridge, Massachusetts-based biotech company, has raised $400 million in Series C funding led by the SoftBank Vision Fund, with Foresite Capital, Perceptive Advisors, Tavistock Group, GV, Casdin Capital, BVF Partners, EcoR1 Capital, Alexandria Venture Investments, and a D.E. Shaw Research affiliate also participating. http://axios.link/08KL
🚙 Fair.com, a Santa Monica, California-based car leasing company, has raised $385 million in Series B funding led by SoftBank, with Exponential Ventures, Munich Re Venture’s ERGO Fund, G Squared, and CreditEase also participating. http://axios.link/H4RN
• Earnin, a Palo Alto, California-based maker of an app for workers to check and access wages, has raised $125 million in new funding from DST Global, Andreessen Horowitz, Spark Capital, Matrix Partners, March Capital Partners, Coatue Management, Ribbit Capital, and the a16z Cultural Leadership Fund. http://axios.link/5JYE
• Waves Platform, a Russia-based public blockchain network that helps startups create tokens, has raised $120 million in funding led by Dolfin. http://axios.link/anZ2
• Dataiku, a New York-based data platform, has raised $101 million in funding led by Iconiq Capital, with Alven Capital, Battery Ventures, Dawn Capital, and FirstMark Capital participating. http://axios.link/BRV8
• Sprout Social, a Chicago-based provider of social media monitoring, marketing and analytics services, has raised $40.5 million in Series B funding led by Future Fund, with participation from Goldman Sachs and New Enterprise Associates. http://axios.link/FleG
• Crew, a San Francisco-based chat app for businesses that employ shift workers, has raised $35 million in Series C funding from DAG Ventures, Tenaya Capital, Greylock Partners, Sequoia Capital, Harrison Metal Capital and Aspect Ventures. http://axios.link/Rnkt
• Bowtie, a Hong Kong-based insurance startup, has raised $30 million in Series A funding led by Sun Life Hong Kong, with Hong Kong X Technology fund also participating. http://axios.link/glCR
⛽️ Malta, a Cambridge, Massachusetts-based developer of an electro-thermal energy storage system that spun out of Alphabet's Moonshot Factory (X), has raised $26 million in Series A funding led by Breakthrough Energy Ventures, with Concord New Energy Group and Alfa Laval also participating. http://axios.link/ssSw
• Tagomi, a New York-based electronic brokerage for digital assets, has raised $16 million in funding from investors like Founders Fund, Collaborative Fund, SV Angel, Joe Lonsdale, Brainchild, Digital Currency Group, ZhenFund, Box Group, Elad Gil, and Charlie Noyes.
🚑 Neuraptive Therapeutics Inc, a Colorado and Pennsylvania,-based biotech company, has raised $11.5 million in Series A funding led by New Rhein Healthcare Investors.
🚑 Foldax, a Salt Lake City-based company developing synthetic heart valves, has raised $10.3 million in funding, according to an SEC filing.
• PopDog, a Los Angeles-based company developing tools for esports, has raised $9 million in Series A funding led by Makers Fund, with Korea Investment Partners also participating. http://axios.link/tUEg
• Kindur, a New York-based wealth management company for "baby boomers,” has raised $9 million in Series A funding from investors including Anthemis, Point72 Ventures and Clocktower. www.kindur.com
🚙 BacklotCars, a Kansa City, Missouri-based online used car marketplace for automotive dealers, has raised $8 million in Series A funding led by Origin Ventures, with Revolution’s Rise of the Rest Seed Fund, Pritzker Group Venture Capital, KCRise Fund, Royal Street Ventures and Chaifetz Group, among others also participating. http://axios.link/LuwG
• Gamelearn, a Spain-based company that develops video games to deliver corporate training, has raised $5 million in Series A funding from Kibo Ventures, Oak3Capital, All Iron Ventures, UL Invest, and Inveready. http://axios.link/n9FT
• Devcon, an Atlanta-based cybersecurity startup focused on combating fraud in ad tech, has raised $4.5 million in seed funding led by Las Olas VC. http://axios.link/aDb7
• Layer1, a startup focused on investing in digital tokens, has raised $2.1 million in funding from Peter Thiel, Digital Currency Group, Jeffrey Tarrant and others. http://axios.link/PwG9
🚑 Pandion Therapeutics, a Cambridge, Massachusetts-based biotech company, has raised an undisclosed amount of funding from the JDRF T1D Fund. www.pandiontx.com
• Pelican Energy Partners has invested in Axon Pressure Products, a Houston-based maker of pressure control equipment. The transaction that was done in partnership with Keith Klopfenstein and Gus Halas.
• Cinven has agreed to buy One.com, a London-based provider of domain names and web hosting backed by Accel-KKR.
• American Securities has acquired FleetPride, an Irving, Texas-based distributor of aftermarket parts for the U.S. heavy-duty truck industry, from TPG Capital.
⛽️ Stonepeak Infrastructure Partners and Brookfield Asset Management, along with other investors, are considering buying oil and gas pipeline company Tallgrass Energy, according to Bloomberg. http://axios.link/fYX3
• Alantra has acquired a stake in Access Capital Partners, a France-based private asset manager with 8.8 billion euros of accumulated assets raised. www.access-capital-partners.com/en
• Permira has agreed to acquire a majority stake in Cielo, a Brookfield, Wisconsin-based recruitment process outsourcing company, from Accel-KKR. www.cielotalent.com
🚑 Beaver-Visitec International has agreed to acquire PhysIOL Group, a Belgium-based ophthalmic company specializing in the research, development and manufacture of intraocular lenses, from TA Associates with backing from TPG Capital. www.physiol.eu
• Jiayin Group, a China-based online lending marketplace, filed on Wednesday with the SEC to raise up to $57.5 million in an IPO. It plans to trade on the Nasdaq under the symbol JFIN with Roth Capital and Shenwan Hongyuan Securities as joint bookrunners.
• Investcorp Technology Partners, a European lower middle market technology investor, raised $400 million for its new fund, Investcorp Technology Partners IV.
• Zigg Capital is raising a new venture capital fund with a $100 million target, according to an SEC filing.
• Siris Capital Group, a New York-based private equity firm focused on technology, has raised $3 billion for its fourth fund, according to an SEC filing.
• Arsenal Capital Partners has named BG Porter as an industry and operations partner and John DiGiovanni as a principal. It also promoted Robbie Cahill to vice president and Taylor Holland to senior associate. www.arsenalcapital.com
• Campbell Lutyens hired ex-Park Hill Group executive Fred Han as a principal. He was also previously at UBS and Greenhill Cogent. www.campbell-lutyens.com
• Former Oklahoma Governor Frank Keating has joined the board of directors of Global Holdings. www.globalholdings-mgmt.com