Illustration: Aïda Amer/Axios
Venture Capital
• Eon, a New York-based cloud backup platform, raised $300m in Series D funding at a $4b post-money valuation from insiders Sequoia Capital, Lightspeed, Greenoaks, and Bond. Go deeper
• Mujin, a Tokyo-based automation tech company, raised $233m in Series D funding led by NTT Group and Qatar Investment Authority, joined by Mitsubishi HC Capital Realty Co. and Salesforce Ventures. Go deeper
• Curative, an Austin, Texas-based health insurance startup, raised a $150m Series B at a $1.28b post-money valuation. Upside Vision Fund led, joined by JAM Fund, Galaxy Digital, Duquesne Family Office, DCVC, and Martin Varsavsky. Go deeper
• Axiado, a San Jose, Calif.-based chipmaker, raised $100m led by Maverick Silicon. Go deeper
• PermitFlow, a New York-based AI platform for construction, raised a $54m Series B. Accel led, joined by Kleiner Perkins, Felicis, Initialized Capital, Altos Ventures, and YC. Go deeper
• Titan OS, a Spanish developer of smart TV operating systems, raised €50m in Series A funding. Highland Europe led, joined by Mangrove Capital Partners. Go deeper
• Corintis, a Swiss chip cooling startup, raised $25m led by Applied Digital. Go deeper
• Simular, an agentic AI developer for Mac OS and Windows, raised $21.5m in Series A funding. Felicis led, joined by NVentures and insider South Park Commons. Go deeper
• Bitstack, a Paris-based bitcoin savings app, raised a $15m Series A led by 13books Capital, joined by AG2R La Mondiale, Plug and Play Ventures, Serena, Stillmark and Y Combinator. Go deeper
• Summit Commercial Solutions, a Canadian commercial insurance brokerage, raised $7.5m in Series A funding. IA Capital led, joined by Sorathia Holdings and Greenlight Re Innovations. Go deeper
• Soxton AI, an NYC-based law firm and legal solution provider, raised a $2.5m pre-seed round led by Moxxie Ventures, joined by Strobe, Coalition, Caterina Fake and Flex. Go deeper
• LizzyAI, a NY-based conversational AI interviewing platform, raised a $5m seed round. NEA led, joined by Speedinvest and Zero Prime Ventures. Go deeper
Private Equity
• Franchise Equity Partners agreed to acquire IMO Car Wash, a U.K.-based car wash business with 720 locations, from Driven Brands (Nasdaq: DRVN) for €406m. Go deeper
• Industrial Growth Partners acquired Marki Microwave, a Morgan Hill, Calif., developer of RF and mmWave technology. Go deeper
• Unity Partners acquired Yardmaster, Big Lakes Lawncare and Kunco Landscape, forming a landscaping business targeting the Midwest. Go deeper
Public Offerings
• Bitcoin Infrastructure Acquisition, a digital asset SPAC, raised $200m in its IPO. Go deeper
M&A
• Bending Spoons, an Italian holding company that buys and seeks to revitalize legacy tech brands, acquired Eventbrite (NYSE: EB) for around $500m in cash, or $4.50 per share. Bending Spoons was most recently valued at $11.7b in a $710m funding round led by T. Rowe Price. Go deeper
• FE fundinfo, a U.K.-based financial data firm, acquired British investment distribution intelligence provider Finscape from Equisoft for an undisclosed sum. Go deeper
🌎 Holcim (Swiss: HOLN) bought two U.K. companies focused on recycled building materials, Thames Materials and A&S Recycling, plus an undisclosed one in France. Go deeper
• Kraken, valued by VCs at $15b, agreed to acquire Backed Finance, a Swiss tokenization platform that had raised around $18m from Gnosis Chain, Stake Capital, Blue Bay Venture, Cyber Fund, Mindset Ventures, Veris Ventures, EXOR Seeds, Blockchain Founders Fund, and Nonce Classic. Go deeper
• L'Oréal is looking to invest in Italian fashion company Armani, the company's CFO told analysts. Go deeper.
• SiTime Corp., a Santa Clara, Calif.-based chipmaker, is in talks to acquire Renesas Electronics' timing unit, per Bloomberg, valuing the business at $2b. Go deeper
It's Personnel
🌎 Ashleigh N. Ross has joined Mote as chief commercial officer. Ross previously was the deputy director of carbon management technologies at the Department of Energy. Go deeper
• Lance Carr joined advisory firm Portage Point Partners as a managing director and head of valuations. He previously was with Houlihan Lokey. 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.
