Illustration: Rebecca Zisser/Axios
Venture Capital
🚑 Cohere Health, a Boston-based provider of clinical administrative automation tools, raised $90m in Series C funding led by Temasek and joined by insiders Deerfield Management, Define Ventures, Flare Capital Partners, Longitude Capital, and Polaris Partners. Go deeper
• Flock Freight, an Encinitas, Calif.-based shared truckload freight brokerage, raised $60m in Series E funding led by O'Neil Strategic Capital with participation from Susquehanna Private Equity Investments, SignalFire, GLP Capital Partners, and Bracket Capital. Go deeper
• Granola, an AI notetaking app, raised $43m in Series B funding at a $250m valuation. NFDG led, joined by insiders Lightspeed Venture Partners and Spark Capital. Go deeper
• Nortian, a Kansas City, Mo.-based collagen production startup, raised $41m. AJ Hollander led, joined by Integrated Partners and XPTO. Go deeper
💊 Therini Bio, a South San Francisco-based vascular injury biotech, raised $39m in a Series A extension. Angelini Ventures and Apollo Health Ventures participated. Go deeper
• Arkestro, an SF-based predictive procurement platform, raised $36m led by Altira Group and Aramco Ventures, with participation from existing investors NEA, KDT and Activant. Go deeper
• Origin, a London-based employee benefits management platform, raised $21m in Series A funding. Felix Capital led, joined by Acadian Ventures and Notion Capital. originbenefits.com
⚡Reflect Orbital, a Hawthorne, Calif.-based space solar startup, has raised a $20m Series A led by Lux Capital, with participation from Sequoia Capital and Starship Ventures. Go deeper
• Finwave, a developer of gallium nitride-based chips, raised $8.2m from Fine Structure Ventures, Engine Ventures, and Safar Partners. finwavesemi.com
• TaleMonster Games, a Turkish maker of casual mobile puzzle games, raised $7m in seed funding. General Catalyst led, joined by a16z Speedrun, Arcadia, and Ludus Ventures. Go deeper
• Layer, an AI app gateway for game developers, raised $6.5m in seed funding led by Arcadia with e2.vc also participating. layer.ai
• Nekuda, a developer of infrastructure for agentic payments, raised $5m. Madrona Ventures led, joined by Amex Ventures and Visa Ventures. nekuda.ai
⚡ Voltra, a Waterloo, Ontario-based grid software startup, raised a $1.8m pre-seed round led by Contrary, with Hanover Capital and Velocity Fund participating. Go deeper
Private Equity
💊 Carlyle and SK Capital Partners sweetened the upfront portion of their $49m takeover offer for Bluebird Bio (Nasdaq: BLUE), a Somerville, Mass.-based gene therapy company once valued at north of $10b. Go deeper
⚡ Crest Rock Partners invested in Productive Programming, a Verona, Wis.-based provider of software to health care and other benefits organizations. ppi.com
🚑 IX Capital Partners invested in Lenexa, Kansas-based electrical services provider Teague Electric. teagueelectric.com
• Press Ganey Forsta, a portfolio company of Ares and Leonard Green & Partners, is acquiring InMoment, a South Jordan, Utah-based customer experience data company, from Madison Dearborn Partners. pressganey.com
Public Listings
• MNTN, an Austin-based provider of TV advertising software, now says it plans to sell 11.7m shares (72% primary) at $14-$16, potentially valuing it at $1.3b (fully diluted). It's raised over $200m from the likes of Baroda Ventures, Mercato Partners, Greycroft, Qualcomm, Bonfire Ventures, Fidelity, Staley Capital, and Ryan Reynolds. Go deeper
M&A
• CookUnity, a New York-based meal delivery platform, acquired smart fridge tech company Fraîche. CookUnity backers include Endeavor Catalyst, IDCV, and Relay Ventures. cookunity.com
⚡ TenneT, a state-owned Dutch power grid operator, is seeking to sell a minority stake in its German unit for upwards of €12b, per Reuters. Go deeper
Fundraising
• Dynamo Ventures, a Chattanooga, Tenn., supply chain investor, raised $54m for its third fund. It also promoted Madelyn O'Farrell to principal and hired Bola Adegbulu (ex-AI Fund) as a principal. dynamo.vc
• Nexa Equity, an SF-based private equity firm, raised over $390m for its second fund. nexaequity.com
- Ryan Barwick, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Dan Primack, and Aaron Weitzman contributed to this report.
