Illustration: Brendan Lynch/Axios
Venture Capital
• True Anomaly, a Centennial, Colo.-based developer of autonomous spacecraft and software for U.S. national security, raised $260m in Series C funding. Accel led, joined by Meritech Capital and insiders Eclipse, Riot Ventures, Menlo Ventures, 645 Ventures, ACME Capital, Space VC, Champion Hill Ventures, and Narya. Go deeper
🚑 Plenful, an SF-based provider of health care workflow automation tools, raised $50m in Series B funding. Arena Holdings and Mitchell Rales co-led, joined by Notable Capital, Bessemer Venture Partners, TQ Ventures, and Susa/Kivu Ventures. plenful.com
• Rogo, a generative AI startup focused on financial services, raised $50m in Series B funding. Thrive Capital led, joined by JPMorgan, Tiger Global, and insiders Khosla Venture and BoxGroup. Go deeper
• Nuvo, an SF-based B2B network for physical goods, raised $34m in Series A funding from Sequoia Capital and Spark Capital co-led, joined by Founders Fund, Index Ventures, Human Capital, Foundation Capital, and Susa Ventures. Go deeper
• Gruve.ai, a Redwood City, Calif.-based AI deployment and measurement platform, raised $20m in Series A funding led by Mayfield, with participation from Cisco Investments. Gruve.ai
🚑 HealthPlan Data Solutions, a Columbus, Ohio-based pharmacy analytics company, raised $15m in a round led by MK Capital. Tamarind Hill, JobsOhio and Rev1 Ventures participated. Go deeper
🌎 InventWood, a Frederick, Md.-based developer of ultra-strong sustainable wood building materials, raised $15m Series A funding. Go deeper
• Terminal 3, a Hong Kong-based data privacy blockchain company, raised $8m in seed funding led by Illuminate Financial and CMCC Titan Fund. Go deeper
🌎 Arda Biomaterials, a U.K. startup turning spent barley from beer and whiskey production into alternative leather and plastics, raised $5.3m in seed funding led by Oyster Bay Venture Capital, joined by Clean Growth Fund, Kadmos Capital and Green Angel Ventures. Go deeper
🚑 Noma Therapy, a Denver-based virtual provider of ketamine-assisted psychotherapy, raised $4.25m from such backers as Redesign Health. nomatherapy.com
• Solda.AI, a German telesales automation startup, raised $4m in seed funding. Accel led, joined by AltaIR Capital. Go deeper
• Flash Coffee, an Indonesian coffee chain, raised $3m led by TA Ventures, with insider White Star Capital participating. flash-coffee.com
Private Equity
⚡️Brookfield Asset Management is weighing a bid for a stake in Sizewell C, a U.K. nuclear power plant under development, per Bloomberg. Go deeper
• ICG and KKR have expressed takeover interest for GlobalData (LSE: DATA), a British data analytics company that could fetch over $2b, per Bloomberg. Go deeper
• Clearlake Capital completed its acquisition of a majority stake in ModMed, a Boca Raton, Fla., provider of medical practice SaaS, from Warburg Pincus at a $5.3b valuation. Go deeper
• Evergreen acquired The Vested Group, a NetSuite solutions provider. evergreensg.com
• Gainsight, a customer success company owned by Vista Equity, acquired both Erica Kuhl Consulting and ModerateKit. Go deeper
• Pythian Services, a portfolio company of Mill Point Capital, agreed to acquire Rittman Mead Consulting, an Oracle data and analytics consultancy. Go deeper
M&A
⚡️REC Silicon, a Norwegian solar silicon producer, received an $88.8m buyout offer from its largest shareholder, Hanwha Corporation, per PV-Tech. Go deeper
• LendingClub (NYSE: LC) acquired the talent and IP of Cushion, a defunct spend intelligence platform that raised $21m from investors including BTV and Flourish. Go deeper
• Lineage (Nasdaq: LINE) agreed to buy several U.S. cold storage warehouses from Tyson Foods (NYSE: TSN). Go deeper
• Siemens agreed to acquire Wevolver, a London-based online engineering community, to expand its Supplyframe portfolio. Go deeper
Public Offerings
• Ather Energy, an Indian e-scooter maker, cut its proposed Mumbai IPO size by 18% to around $308m. It's raised around $125m from firms like Hero MotoCorp and GIC. Go deeper
💊 Veraxa Biotech, a Switzerland-based antibody company, plans to merge with Voyager Acquisition Corp., a SPAC, valuing it at $1.7b. Xlife backs Veraxa. Go deeper
M&A
• Tether acquired a 70% stake in Adecoagro (NYSE: AGRO), a South America-based agriculture and renewables company valued at around $900m. Go deeper
• BT Group (LSE: BT) agreed to sell its remaining Italian business to local telco Retelit. Go deeper
• Daishi Hokuetsu Financial (Tokyo: 7327) is in advanced talks to merge with fellow Japanese regional lender Gunma Bank (T: 8334), per Bloomberg. Go deeper
• Fixated, backed by Eldridge Industries, acquired creator economy-focused talent agencies Camp Talent and Moondust Management. Go deeper
Odds and Ends
🌎 Heart Aerospace, a Bill Gates-backed hybrid-electric aircraft developer, shuttered its Swedish operations to focus on the U.S., relocating its HQ from Sweden to LA. Go deeper
Fundraising
Cocoon Capital, a VC firm based in Singapore, has closed $30m of its third fund, which has a target of $50m. Go deeper
It's Personnel
• Marcelo Claure (ex-Sprint CEO, SoftBank) joined PE firm Brightstar Capital Partners as a partner and co-chair. He also increased his personal investment in the firm. Go deeper
• JPMorgan named Andrew Kresse as co-head of innovation economy and Brian Lamb as head of specialized industries. jpmorgan.com
• Lynne Laube and Rachel Hamilton joined TTV Capital as venture partners. Laube is co-founder and ex-CEO of Cardlytics (Nasdaq: CDLX), while Hamilton was CMO of fintech Greenlight. ttvcapital.com
- Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Dan Primack, and Aaron Weitzman contributed to this report.
