Illustration: Natalie Peeples/Axios
Venture Capital
• LangChain, an SF-based agent engineering platform, raised $125m in Series B funding at a $1.25b valuation from IVP, Sequoia Capital, Benchmark, CapitalG, and Sapphire Ventures. Go deeper
• Seneca, an SF-based maker of firefighting drones, raised $60m. Caffeinated Capital and Convective Capital led, joined by First Round Capital, Transition VC, Advance Venture Partners, Nextview Ventures, Bullpen Capital, Stepstone Group, DCVC, Offline Ventures, Roar Capital, and Slow Ventures. Go deeper
⚡ ️Arbor Energy, an El Segundo, Calif.-based power and carbon removal startup, raised $55m in Series A funding. Lowercarbon Capital and Voyager Ventures led, joined by Gigascale Capital, and Marathon Petroleum. Go deeper
🚑 Chemify, a Scottish AI drug synthesizer, raised over $50m in Series B funding. Wing VC and Insight Partners led, joined by 8VC, Triatomic Capital, Blueyard, Rockspring, and Eos. Go deeper
• Serval, an SF-based IT service management platform, raised $47m in Series A funding. Redpoint Ventures led, joined by First Round, General Catalyst, Box Group, Bessemer Venture Partners, and Chemistry. Go deeper
🌍 MATR Foods, a Danish alternative meats maker, raised €20m from Novo Holdings and the Export and Investment Fund of Denmark. Go deeper
• Estuary, an NYC-based enterprise data platform, raised $17m in Series A funding. M13 led, joined by Firstmark and Operator Partners. Go deeper
• Gravwell, a Minneapolis-based data analytics and security platform, raised $15.4m in Series A funding. Two Bear Capital led, joined by Gula Tech Adventures and Next Frontier Capital. Go deeper
⚡️Janta Power, a Dallas-based solar tower infrastructure company, raised $5.5m in seed funding. MaC Venture Capital led, joined by Collab Capital. Go deeper
• Syntracts, a Washington, D.C.-based contract intelligence platform for on-premises deployment, raised $5.3m in seed funding. Hyperplane led, joined by Khosla Ventures, Top Harvest Capital,Fortitude Ventures, Myriad Venture Partners, and Point72 Ventures. Go deeper
• MythWorx, a Dallas-based AI reasoning startup, raised $5m in seed funding at a $100m valuation led by Eagle Venture Fund. mythworx.ai
🌍 Hulo, a Dutch startup using AI to detect leaks in water infrastructure, raised €2.3m in seed funding. VP Capital and LUMO Labs led, joined by Vanagon, Rabobank, FOM, and the Netherlands Enabling Water Technology Fund. Go deeper
Private Equity
• The U.S. Army asked private equity firms including Apollo, Carlyle, KKR and Cerberus to pitch strategic projects to fund a $150b infrastructure overhaul. Go deeper
• Carrick Capital Partners invested $31.5m for a minority stake in Veritas Prime, an Orlando, Fla.-based SAP SuccessFactors and payroll tech solutions provider. veritasprime.com
• CourtReserve, a St. Augustine, Fla.-based provider of tennis and pickleball club management software, raised $54m from Mainsail Partners. Go deeper
• GTCR completed its acquisition of U.K. insurance broker JMG Group, in partnership with existing backer Synova. Go deeper
🚑 Machinify, a health-care intelligence firm owned by New Mountain Capital, completed its $670m take-private buyout of Performant Healthcare. Go deeper
• Norwest invested in PSD Citywide, a Canadian provider of enterprise asset management software for municipalities. Go deeper
• River Pines Capital invested in GrowthLoop, a marketing tech company backed by TJC. Go deeper
M&A
• Quantum Systems, a German aerial intelligence systems developer valued at around $3.5b, acquired Spleenlab, a German AI startup whose backers include APEX Ventures. quantum-systems.com
• TrueLayer, a London-based pay-by-bank network, acquired Zimpler, a Swedish payments company. Go deeper
Fundraising
• HighVista Strategies raised $270m for its 14th VC fund. Go deeper
Its Personnel
• Chris Degnan, former CRO of Snowflake, joined Iconiq as a go-to-market advisor. Go deeper
• R. Scott Areglado, former CFO of BrainsWay, joined MindWalk as CFO. Go deeper
💊 Joe Todisco, CEO of CorMedix (Nasdaq: CRMD), was added to the board of Talphera (Nasdaq: TLPH). Go deeper
• Lee Wang, cofounder and former COO of WeddingWire, was named chief revenue officer and president of Cloudforce. 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.
