Illustration: Maura Losch/Axios
Venture Capital
• Majestic Labs, an SF-based AI server developer, launched with $100m in seed and Series A funding. The $71m Series A was led by Bow Wave Capital, joined by Lux Capital, SBI, Upfront Ventures, Grove Ventures, and Hetz Ventures. Go deeper
• Sweet Security, an Israeli runtime cloud and AI security startup, raised a $75m Series B. Evolution Equity Partners led, joined by Munich Re Ventures, Glilot Capital Partners, and Key1 Capital. Go deeper
• WisdomAI, an AI data analytics startup led by Rubrik co-founder Soham Mazumdar, raised $50m in Series A funding. Kleiner Perkins led, joined by NVentures. Go deeper
🚑 myTomorrows, an Amsterdam startup connecting patients with clinical trials, raised $29m from Avego. Go deeper
• Arrived, a Seattle-based fractional real estate investing platform, raised $27m led by Neo, joined by Forerunner Ventures, Bezos Expeditions, and Core. arrived.com
• Rebel, a Kannapolis, N.C.-based recommerce marketplace for open-box and overstock goods, raised $25m in Series B funding led by MarcyPen. Go deeper
• Agency, a customer success startup, raised $20m in Series A funding. Menlo Ventures led, joined by Sequoia Capital, Felicis Ventures, Snowflake Ventures, and Databricks Ventures. Go deeper
💊 Modulight Biotherapeutics, a Boston optogenetic platform for neurological disorder treatments, raised a $12.2m seed. Jibe Ventures and LocalGlobe led, joined by Nexus Neurotech Ventures, RedSeed VC, Secret Chord Ventures, Fresh Fund, Saras Capital, SilverArc Capital and Sha'ar Mivnim. Go deeper
• District Cover, a Nashville-based insurer, raised $6m. IA Capital led, joined by insiders a16z, Mosaic, and Impact America Fund. districtcover.com
• Abacus, an AI infrastructure platform for regulated industries, raised $5m in Series A funding. GFT Ventures led, joined by BankTech Ventures and LAUNCH Fund. Go deeper
• Litmus, a San Jose, Calif.-based industrial edge data platform, raised funding from Insight Partners and Munich Re Ventures. Go deeper
Private Equity
• Harbor Global, a Bay Pine portfolio company, acquired Encoretech, an NYC-based provider of tech training and user adoption services for law firms and corporate legal teams. Go deeper
• H.I.G. Capital invested in Rely Home, an Edison, N.J.-based home warranty provider. Go deeper
• Permira acquired The Key Group, a British education software provider, from CBPE. Go deeper
• Turnspire Capital Partners acquired and merged biofuels firms LifeLine Foods and ICM Biofuels. Go deeper
M&A
• Citi (NYSE: C) received Russian government approval to sell its bank inside the country to Renaissance Capital. Go deeper
Public Offerings
• Groww, an Indian retail investment platform, raised around $748m in its IPO and then saw shares climb nearly 30% in their first day of trading. It previously raised nearly $600m from backers like Iconiq, GIC, Microsoft, Tiger Global, Ribbit Capital, and YC. Go deeper
• Markerstudy, a British insurer owned by Pollen Street, is speaking with banks about an IPO, per Bloomberg. Go deeper
• The Los Angeles Times Media Group announced a private placement seeking to raise $500 million in a Series A preferred stock offering that will be followed by a Reg A offering that will have the shares trade under "LAT" on NYSE. Go deeper
Liquidity
• Stingray Group (TSX: RAY) is paying $175m to acquire SF-based streaming radio service TuneIn, which raised over $160m from firms like Comcast Ventures, Market, IVP, GV, Causeway Media Partners, General Catalyst, Sequoia Capital, and Innovation Endeavors. Go deeper
Funds
• Section Partners raised $189m for its fifth flagship fund and second co-investment fund. Go deeper
It's Personnel
• Rav Chanana joined Vesper as a partner. He previously was a managing director with Gemspring Capital. Go deeper
• Adam Heaysman joined Triple Point as head of fund finance. He previously was with Alpha Group. Go deeper
• Ran Kurup joined MinIO as chief corporate development officer. He previously was with Intel Capital as a managing director and head of global portfolio development. 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.
Editor's note: This story has been updated to include Avego as myTomorrow's investor.
