Illustration: Lindsey Bailey/Axios
Venture Capital
• RevenueCat, a startup powering subscription apps, raised $50m in Series C funding at a $500m valuation. Bain Capital Ventures led, joined by Index Ventures, YC, Adjacent, Volo Ventures, and SaaStr Fund. Go deeper
💊 FORE Biotherapeutics, a registration-stage cancer drugmaker, raised $38 million in Series D-2 funding from SR One, Medicxi, OrbiMed, HBM Healthcare Investments, Wellington Management, Novartis Venture Fund, Cormorant Asset Management, and 3B Future Health Fund. Go deeper
🚑 General Medicine, a telehealth provider and medical marketplace, raised $32m. Matrix Partners led, joined by BoxGroup, Founder Collective, VXI Capital, and JSL Ventures. Go deeper
• Rhino Federated Computing, an Israeli AI platform for regulated industries, raised a $15m Series A led by AlleyCorp, with participation from LionBird, Fusion Fund, Arkin Digital Health, Qiming Venture Partners USA, and Telus Global Ventures. Go deeper
• StackHawk, an SF-based API security platform, raised $12m from Sapphire Ventures and Costanoa Ventures. Go deeper
🚑 Axle Health, an LA-based provider of scheduling and workforce management software for in-home care providers, raised $10m in Series A funding. F-Prime Capital led, joined by YC, Pear VC, and Lightbank. Go deeper
🌎 Freshflow, a German provider of supply chain software for reducing food waste, raised €6.5m from World Fund, Capnamic, Venture Stars, and Caesar Ventures. Go deeper
• Penfold, a U.K.-based digital pensions platform, raised £3.9m led by Gresham House Ventures. Go deeper
• Tamtam, a French AI platform for complex B2B sales, raised €3m in seed funding. Varsity led, joined by Kima Ventures. Go deeper
🚽 Throne, an Austin, Texas-based maker of a smart toilet device that monitors gut health, raised $4m in seed led by Moxxie Ventures. Go deeper
• Strava, an SF-based fitness tracking platform, raised new funding at a $2.2b valuation. Sequoia Capital led, joined by TCV, Jackson Square Ventures, and Go4it Capital. Go deeper
Private Equity
🚑 Comac Medical Group, backed by EdgeCap Partners, acquired ILIFE Consulting, a French contract research organization. Go deeper
• EQT agreed to acquire Seven Seas Water Group, a water treatment firm in the U.S. and Latin America, from Morgan Stanley Infrastructure. Go deeper
• Greenbriar Equity Group acquired West Star Aviation, a maintenance repair and overhaul services company, from The Sterling Group. Go deeper
• Main Street Capital recapitalized Doral Corp., a Milwaukee-based contractor specializing in rigging, millwrighting and machinery moving. Go deeper
Public offerings
• Oyster Enterprises II Acquisition, a Miami-based SPAC led by Alden Global executives, raised $220m in an upsized IPO. Go deeper
M&A
• Aditya Mittal, CEO of ArcelorMittal, is investing $1b into Bill Chisholm's purchase of the NBA's Boston Celtics, per Bloomberg. Go deeper
💊 Samsung Biologics plans to separate its contract manufacturing and biosimilar development business units to make them more competitive and address conflict of interest concerns. Go deeper
Odds & ends
⚡️Northvolt, the bankrupt Swedish battery maker, will cease operations by the end of June, per Sifted. Go deeper
🌎 Sparxell, a U.K. developer of plant-based pigments, received a €1.9m grant from the European Innovation Council. Go deeper
⚡️The U.S. Interior Department said it's started the process of selling deep-sea mining leases following a request from startup Impossible Metals, per TC. Go deeper
