Illustration: Shoshana Gordon/Axios
Venture Capital
• Replit, an SF-based AI software developer, raised $250m at a $3b valuation. Prysm Capital led, joined by Google's AI Futures Fund, Amex Ventures, Andreessen Horowitz and Coatue. Go deeper
💊 Odyssey Therapeutics, a Boston autoimmune and inflammation drug developer, raised a $213m Series D. Affinity Asset Advisors, Dimension Capital, Jeito Capital, Lightspeed Ventures, TPG Life Sciences Innovations and Wedbush Healthcare Partners participated. Go deeper
• Nitricity, an SF-based organic fertilizer maker, raised a $50m Series B led by World Fund and Khosla Ventures and including Chipotle's Cultivate Next venture fund, Change Forces, Susquehanna Sustainable Investments, Energy Impact Partners, and Fine Structure Ventures. Go deeper
💊 NRG Therapeutics, a British neurology drug developer, raised a £50m Series B. Health Investors' Dementia Discovery Fund led, and British Business Bank, M Ventures, Novartis Venture Fund, Criteria Bio Ventures, Omega Funds and Brandon Capital participated. Go deeper
• Pest Share, a Nampa, Idaho-based pest control platform, raised a $28m Series A led by Integrity Growth Partners and joined by MetaProp, Capital Eleven and RE Angels. Go deeper
🚑 Optain, a NYC-based health tech for eye disease detection and cardiovascular disease risk assessment, raised $26m in Series A funding led by Insight Partners and joined by Memorial Hermann, Northwell Health, Novant Health, The Ohio State University Wexner Medical Center, and UPMC Enterprises. Go deeper
• Blocks.diy, an Israel-based agentic AI startup, raised a $10m seed round. Monday.com led, with Qumra Capital and Entree Capital participating. Go deeper
• Klaar, an SF-based performance management startup, raised a $5m Series A. Prime Venture Partners led, with Shastra VC participating. Go deeper
• Rendezvous Robotics, an autonomous swarm assembly company, raised $3m in pre-seed led by Aurelia Foundry and 8090 Industries, with ATX Venture Partners and Mana Ventures participating. Go deeper
Private Equity
• Aquarian Holdings is in exclusive buyout talks with Brighthouse Financial (NASDAQ: BHF), a life insurance company. Apollo, TPG, and Carlyle have reportedly dropped out, per Bloomberg. Go deeper
• GTCR closed its acquisition of FMG Suite, a provider of marketing automation software to financial advisors and insurance agents, from Aurora Capital Partners. Go deeper
• Purgo Holdings, a portfolio company of Wincove Private Holdings, acquired Puroflux, a maker of industrial and commercial water filtration and control systems, from Montage Partners. Go deeper
Liquidity
• Vector Capital Management agreed to acquire SingleStore, a San Francisco-based data platform for enterprise AI. Google Ventures, Dell Technologies Capital, IBM, and REV Venture Partners will remain as investors in SingleStore. singlestore.com
M&A
• Nayya agreed to acquire Northstar, a financial wellness as an employee benefit company. Go deeper
• RaceTrac, an Atlanta-based convenience store operator, said it has agreed to acquire Potbelly (Nasdaq: PBPB), a Chicago-based sandwich chain, for $566m. Go deeper
Fundraising
• TVM Capital Healthcare closed TVM Healthcare Southeast Asia Fund with $150m. Go deeper
It's Personnel
• Tasos Angelopoulos, former CEO at Davisware, joined StockIQ Technologies as CEO. Go deeper
• Dane Glasgow, former VP of product management for Facebook, joined Paramount as chief product officer. Go deeper
• Gaurav Sinha joined Verdagy as chief commercial officer. Sinha was previously vice president of hydrogen at AES Clean Energy. Go deeper
• Ravi Soin, former CIO and chief information security officer at Edifecs, was named CISO at Smartsheet. 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.
