Illustration: Gabriella Turrisi/Axios
Venture Capital
⚡Kraken, a British utility software company, is raising $500m, per Bloomberg. Go deeper
• Multifactor, an SF-based security platform for agentic AI, raised $15m in seed funding. Nexus Venture Partners led, joined by YC, Taurus Ventures, Honeystone Ventures, Flex Capital, Pioneer Fund, Ritual Capital, and Liquid2 Ventures. Go deeper
• Guide Labs, an SF-based developer of an interpretable LLM, raised $9m. Initialized Capital led, joined by Tectonic Ventures, YC, and Lombardstreet Ventures. Go deeper
• Ply, an NYC-based inventory and purchasing platform for contractors, raised $8.5m. Ferguson Ventures led, joined by Primary and SignalFire. Go deeper
• LizzyAI, an HR interviewing platform, raised $5m in seed funding. NEA led, joined by Speedinvest and Zero Prime Ventures. Go deeper
🚑 Radical Health, an SF-based developer of an "AI cancer doctor," raised $5m in pre-seed funding. Khosla Ventures led, joined by Protagonist, Entrepreneurs First, Headwater VC, and Transpose Platform. Go deeper
• SPhotonix, a data storage tech startup, raised $4.5m in pre-seed funding led by Creator and XTX Ventures. Go deeper
• Govstream.ai, a Seattle–based developer of permitting tools for local governments, raised $3.6m in seed funding. 47th Street Partners led, joined by Nellore Capital and Ascend. Go deeper
• Hypercritical, a London-based industrial software development tool, raised £2m in pre-seed funding led by Join Capital. Go deeper
• OctaiPipe, a British data center cooling software startup, brought on ABB as an investor. Go deeper
• WEVO, a Boston-based customer research platform, raised funding from Accenture Ventures. Go deeper
Private Equity
• 26North agreed to buy a 51% stake in Middleby's (Nasdaq: MIDD) residential kitchens business at an $885m enterprise value. Go deeper
• Big Yellow Group (LSE: BYG), a U.K. self-storage company, ended takeover talks with Blackstone. Go deeper
• Vanco, a Great Hill Partners portfolio company, acquired ACS Technologies, a Florence, S.C.-based provider of church management software and services. Go deeper
• WOW Carwash, a Garnett Station Partners portfolio company, acquired Las Vegas-based Blu Car Wash. Go deeper
Liquidity
• Lightbeam Health Solutions of Dallas acquired Syntax Health, an Atlanta-based SaaS platform for value-based contracting that had been seeded by Redesign Health. Go deeper
M&A
⚡EnergyHub, a Brooklyn-based grid services company, acquired demand response company Resideo Grid Services for an undisclosed amount. Go deeper
• Versant Media Group, a cable network group being spun off of Comcast (Nasdaq: CMCSA), is acquiring Free TV Networks, an Atlanta-based operator of ad-supported channels, and Indy Cinema, a software provider for independent movie theaters. Go deeper
• Trane Technologies, an Irish heating and cooling company, agreed to acquire Stellar Energy Digital from Stellar Energy International. Go deeper
Fundraising
• Nexus Venture Partners raised $700m for its latest fund, around half of which is allocated to Indian startups. Go deeper
It's Personnel
• Greg Brabec joined Silfab Solar as chief legal officer. He previously held senior legal and government affairs roles at Wacker North America. Go deeper
• SemperVirens, an SF-based VC firm, promoted Raquel Scott to principal and Colin Tobias to general partner. sempervirensvc.com
Odds & Ends
• PepsiCo (Nasdaq: PEP) is nearing a settlement with Elliott Investment Management, per reports. The activist investor was previously calling for the company to divest some of its brands. Go deeper
