Illustration: Eniola Odetunde/Axios
Venture Capital
• Gather AI, an AI platform for warehouse cameras and drones, raised $40m in Series B funding. Smith Point Capital led, joined by Bain Capital Ventures, XRC Ventures, and Hillman Investments. Go deeper
💊 Galux, a South Korean protein therapeutics design company, raised $29m in Series B financing from InterVest, DAYLI Partners, PATHWAY Investment, Yuanta Investment, Korea Development Bank (KDB), SL Investment, Ncore Ventures, SneakPeek Investments, Korea Investment & Securities, and Mirae Asset Securities. Go deeper
• Pandorum Technologies, an Indian biotech focused on programmable regenerative medicine, raised $18m in Series B funding. Protons Corporate led, joined by Galentic Pharma, Ashish Kacholia, Noblevast Advisory, Avinya Fund and Burman Family. Go deeper
• Topview, a Singaporean collaborative video workspace developer, raised an additional $5.5m to close its $14m Series A led by Kamet Capital. Go deeper
Private Equity
• Applus+, a Spanish portfolio company of I Squared Capital and TDR Capital, acquired U.K. environmental consultancy APEM Group for around £335m from WestBridge. Go deeper
• Arbor Investments acquired Furlani Foods, a Canadian maker of frozen and ambient garlic bread products, from e2p. Go deeper
• Eddie Bauer, owned by PE-backed Authentic Brands Group, filed for Chapter 11 bankruptcy protection. Go deeper
• ERA Partners acquired GeoTility, a geoexchange utility platform with operations in Canada and the U.S. Go deeper
• MKB Company, backed by Align Capital Partners, acquired US Silt & Site Supply, a Bow, N.H.-based maker of erosion and sediment control products. Go deeper
• Novaria Group, a portfolio company of Arcline Investment Management, acquired Plasma Ruggedized Solutions, a San Jose, Calif.-based provider of conformal coatings for sensitive electronics. Go deeper
• One Equity Partners agreed to acquire Bozzetto Group, an Italian specialty chemicals provider. Go deeper
💊 Universal Maritime Solutions, backed by ZCG Private Equity, acquired Regenboog Shipping Pharmacy, a Dutch distributor of pharma products and medical devices for the maritime sector. Go deeper
• White Cap, a CD&R portfolio company, acquired Colony Hardware, a direct-to-job-site distributor of construction materials, from Audax Private Equity. Go deeper
Liquidity
• Beast Industries, backed by such firms as Seven Seven Six and Social Capital, acquired Step, a Palo Alto, Calif-based neobank focused on families that was last valued at $920m by investors including Crosslink Capital, General Catalyst, and Coatue. Go deeper
M&A
• E.W. Scripps (Nasdaq: SSP) agreed to sell Court TV to Law&Crime. Go deeper
Fundraising
🌎 Climate Adaptive Infrastructure raised $75m for its second fund, per an SEC filing.
It's Personnel
• Dextra Partners promoted Gab Paradiso to director. Go deeper
• Gemspring Capital promoted Aron Grossman and Zubin Malkani to co-heads of investments. Go deeper
• Neil Marsons joined Lucid as SVP of supply chain. He previously was a Rolls-Royce exec. Go deeper
Debt
⚡️NineDot Energy, an NYC-based battery storage developer, secured $431m in debt led by Natixis Corporate & Investment Banking to build 28 projects. Go deeper
Odds & Ends
💊 Eli Lilly (NYSE: LLY) agreed to pay Chinese drugmaker Innovent Biologics $350m upfront and as much as $8.5b in a collaboration deal to develop cancer and immune system diseases. Go deeper
💊 CSL, an Australian pharma giant, agreed to pay Swiss biotech Memo Therapeutics up to $328m to develop recombinant polyclonal IgG products, which can treat immunodeficiency and autoimmune disorders. Go deeper
Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Chris Metinko, Dan Primack, Erin Brodwin, Natalie Breymeyer and Brock E.W. Turner contributed to this report.
