Illustration: Brendan Lynch/Axios
Venture Capital
• Exa, a search engine for AI, raised $85m in Series B funding at a $700m valuation. Benchmark led, joined by Lightspeed, Nvidia, and YCombinator. Go deeper
• ModernFi, a New York-based provider of deposit-management infrastructure to banks and credit unions, raised a $30m Series B. Canapi Ventures led, joined by a16z, Curql, Remarkable Ventures, and Intercontinental Exchange. Go deeper
• Orchard Robotics, a San Francisco-based agtech company using AI for crop management, raised a $22m Series A led by Quiet Capital and Shine Capital. General Catalyst, Contrary, Mythos, Valyrian, Ravelin, and individual investors joined. Go deeper
• Hemi Labs, developer of a Bitcoin programmability layer, raised $15m from YZi Labs, Republic Digital, HyperChain Capital, Breyer Capital, Big Brain Holdings, Crypto.com, DNA Fund, Selini Capital, Protein Capital, Quantstamp, and Web3. Go deeper
• Aurelius Systems, a San Francisco-based defense technology startup, raised a $10m seed round co-led by General Catalyst and Draper Associates. Go deeper
💊 ArcaScience, a French developer of benefit-risk evaluation tools for drugs, raised $7m in seed funding. The Moon Venture led and was joined by Pléiade Venture, Plug&Play Ventures, Bpifrance, and AKKA Technologies. Go deeper
🚑 Welcome Tech, an LA-based platform for immigrant workers' health care, raised $7.5m from TTV Capital, CityRock Ventures Partners, Mubadala Capital, Next Legacy Partners, BTN Ventures and Westbound Equity Partners. Go deeper
Private Equity
• Qodea, a U.K.-based Marlin Equity Partners portfolio company, acquired TIQQE, a Swedish cloud consultancy. www.qodea.com
• Sphera, a Blackstone-backed provider of sustainability and operational risk management software, raised funding from Neuberger Berman Capital Solutions. Go deeper
• Syndigo, a Summit Partners portfolio company, acquired product management platform 1WorldSync from Battery Ventures. Go deeper
• Vision Ridge Partners acquired FortisTCI, an electricity utility serving the Turks and Caicos Islands. Go deeper
M&A
• Ad.com Interactive Media, a Los Angeles-based marketing and digital media company, bought Underdog Media, an ad monetization platform. ad.com
• Huron (Nasdaq: HURN) acquired Wilson Perumal & Co., a Dallas-based corporate strategy and operations consultancy. Go deeper
Fundraising
• Great Hill Partners raised $7b for its ninth flagship PE fund. Go deeper
It's Personnel
• JP Morgan named Sarah Catania as its head of private banking business for continental Europe. Go deeper
🌎 Brian DiMarino stepped down as managing director and deputy director of global sustainability at JPMorgan Chase, to become COO of carbon removal company Chestnut Carbon. Go deeper
• Steve Baranowski joined Flexpoint Ford as CFO. He previously was with Adams Street Partners. Go deeper
Odds & Ends
⚡️ The Tennessee Valley Authority and Entra1 Energy, an energy producer that's partnered with SMR developer NuScale, signed an agreement to develop up to 6 GW of new nuclear generation. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Alan Neuhauser, Dan Primack, and Brock E.W. Turner contributed to this report.
