Illustration: Allie Carl/Axios
Venture Capital
• Tailscale, a Toronto-based corporate VPN startup, raised US$160m led by Accel at a $1.5b valuation, per Bloomberg. Accel led, joined by CRV, Insight Partners, Heavybit, and Uncork Capital. Go deeper
🚑 Merida Biosciences, a Cambridge, Mass.-based biotech focused on serious autoimmune and allergic diseases, raised $121m in Series A funding. Bain Capital Life Sciences, BVF Partners and Third Rock Ventures co-led, joined by GV and PXV Funds. Go deeper
• Advanced Manufacturing Company of America, an El Segundo, Calif.-based aerospace and defense company, raised $76m from investors including Caffeinated Capital, Founders Fund, Lux Capital, and a16z. Go deeper
• Brinc, a Seattle-based maker of public safety drones, raised $75m. Index Ventures led, joined by Motorola. Go deeper
• Rain, an LA-based earned wage access app, raised $75m in Series B funding led by Prosus at a $340m post-money valuation. Go deeper
• Anecdotes, a Palo Alto, Calif.-based governance, risk, and compliance automation platform, raised $55m in Series B funding led by DTCP and Glilot, with participation from Vertex and Red Dot. Go deeper
⚡Corinex, a Vancouver-based developer of broadband-over-power-lines tech for grid visibility, raised $30m led by Energy Growth Momentum, joined by Suma Capital and Adara Ventures. Go deeper
• Blumind, a Canadian maker of analog AI chips for edge computing, raised C$20M in Series A funding co-led by Cycle Capital and BDC Capital. Go deeper
• Gallatin, a Washington, D.C.-based defense technology company, raised $15m in seed funding led by 8VC, with participation from Silent Ventures, Moonshots Capital, Timeless Partners, and Banter Capital. Go deeper
🌎 Ynsect, a French insect protein producer, closed €10m in bridge funding after entering insolvency proceedings in February, per Sifted. Go deeper
• The Global Gaming League, a Las Vegas-based gaming company, raised $10m via SAFE notes led by Solyco Capital. Go deeper
• Glimpse, a New York-based provider of deduction management for CPG brands, raised $10m in Series A funding led by 8VC. Go deeper
• Pro Padel, a U.S. padel league, raised $10m in seed funding from Left Lane Capital, Kactus Capital, and Gary Vaynerchuk. Go deeper
• Starday, a Scottsdale, Ariz.-based CPG brand developer, raised $8m in Series A funding led by Slow Ventures and Equal Ventures. Go deeper
• Octane, an SF-based cybersecurity startup for crypto, raised $6.8m co-led by Archetype and Winklevoss Capital. Go deeper
⚡Plug, a Santa Monica, Calif.-based EV auction startup, raised $6.7m in seed funding from Floodgate, Autotech Ventures, A*, Leap Forward Ventures, Renn Global, Cleo Capital, Toba Capital and ODF. Go deeper
• HoneyHive, a New York-based AI agent observability and evaluation platform, raised $5.5m in a seed round led by Insight Partners, with participation from Zero Prime Ventures, 468 Capital, and MVP Ventures. Go deeper
• Dealstack, a British platform for automating private capital operations, raised $5.5m in seed funding from senior professionals at firms including Paul Weiss, Kirkland & Ellis, Latham & Watkins, KKR, CVC, TA Associates, and Goldman Sachs. Go deeper
• Spektion, an Austin, Texas-based software vulnerability management company, raised $5m in seed funding led by LiveOak Ventures, with participation from Tau Ventures and Dauntless Ventures. Go deeper
🌎 Adaptis, a New York-based sustainable building software startup, raised $4m in seed funding led by Building Ventures with participation from MetaProp, 2048 Ventures, Powerhouse Ventures, and Blue Vision Capital. Go deeper
• Osstec, a British 3D-printed joint replacement implants startup, raised £2.5m in funding led by Empirical Ventures. Go deeper
• QurieGen, a Dutch cellular technology company, raised €2.2m in funding from Tensor Ventures, Lighthouse Ventures, BSV Ventures, Moondust Ventures, 22 Hor Invest, and Tim Draper. Go deeper
• Nettle, a British AI-powered risk assessment platform, raised £1.45m in pre-seed funding led by Project A. Go deeper
• Sats Terminal, a Defi scaling and simplification startup, raised $1.7m co-led by Coinbase Ventures and Draper Associates.Go deeper
Private Equity
• Apollo invested in Plume, a tokenization business. plumenetwork.xyz
• U.S. Compliance, a Susquehanna Growth Equity portfolio company, acquired OECS, a St. Louis Park, Minn.-based environmental, health and safety consultancy. oecscomply.com
• Enpal, a German solar panel and battery supplier, raised €110m led by TPG. Go deeper
⚡Sunraycer Renewables, an Annapolis, Md., clean energy developer, closed $475m in project financing from MUFG Bank, Nomura Securities International, and Norddeutsche Landesbank Girzonentrale. Go deeper
M&A
• Banco Santander (Madrid: SAN) is considering the sale of its majority stake in its Polish unit, which could fetch around $8b, per Bloomberg. Go deeper
Public Offerings
• Stada, a German health-care company, postponed its IPO due to market volatility, per the WSJ. Go deeper
• Pyro AI, a Hong Kong-based mobile and online game developer, withdrew its plans for a $10m U.S. IPO. Go deeper
Fundraising
• a16z is seeking to raise a $20b fund dedicated to growth-stage AI companies, per Reuters. Go deeper
🌎 Atempo Growth, a London-based growth lender whose focus includes sustainability, raised €300m in a first close of its second fund. Go deeper
• J.P. Morgan Asset Management closed Campbell Global's Forest & Climate Solutions Fund II with $1.5b. Go deeper
• RCP Advisors raised $994m for its fifth co-investing fund. Go deeper
• Outlier Grove, a new VC firm from former Accel investor Candice du Fretay, raised a $20m angel and seed fund. Go deeper
Odds & Ends
🌎 Up Catalyst, an Estonian developer of CO2-to-materials, closed an €18m loan from the European Investment Bank. Go deeper
⚡Duke Energy, the Charlotte, N.C.-based energy holding company, is seeking an extension for its Robinson Nuclear Plant in Hartsville, S.C., through 2050. Go deeper
It's Personnel
• Brian Newman, ex-CFO of United Parcel Service (NYSE: UPS), was named CFO of CVS Health (NYSE: CVS), effective April 21. Go deeper
• Tannon Krumpelman joined Solomon Partners as a partner focused on financial services. He previously was with Evercore. Go deeper
- Erin Brodwin, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, and Aaron Weitzman contributed to this report.
