Illustration: Sarah Grillo/Axios
Venture Capital
• Vega, a security analytics mesh platform, raised $120m in Series B funding. Accel led, joined by Cyberstarts, Redpoint Ventures, and CRV. Go deeper
🚑 Garner Health, a health care navigation company, raised $118m at a $1.35b valuation. Kleiner Perkins led, joined by Redpoint, Maverick Ventures, Kaiser Permanente Ventures, Mercy, and Plus Capital. Go deeper
💊 ILiAD Biotechnologies, a Weston, Fla.-based whooping cough vaccine developer, raised a $115m Series B. RA Capital Management led, joined by Janus Henderson Investors, and BNP Paribas Asset Management. Go deeper
💊 QuantX, an immunology biotech with offices in China and New Jersey, raised $85m in Series B funding. LAV and Sanofi Ventures led, joined by HSG. Go deeper
⚡️Deep Fission, a Berkeley, Calif.-based underground nuclear reactor developer, raised $80m from firms like EE Holdings and Montrose Capital. Go deeper
• Newo, an SF-based AI-voice customer agent developer, raised a $25m Series A. Veeam co-founder Ratmir Timashev led, joined by Aloniq, Constructor, Acrobator, and s16vc. Go deeper
• Hauler Hero, a management platform for waste management businesses, raised a $16m Series A. Frontier Growth led, joined by K5 Global and Somersault Ventures. Go deeper
• Simple AI, an SF-based voice AI agent platform, raised a $14m seed round led by First Harmonic, with participation from YC, Massive Tech Ventures, and True Ventures. Go deeper
• Algorized, a Swiss developer of people-sensing and perception AI, raised a $13m Series A. Run Ventures led, joined by Amazon Industrial Innovation Fund and Acrobator Ventures. Go deeper
⚡️Capalo AI, a Finnish virtual power plant developer, raised €11m in Series A funding. Heartcore Capital led, joined by Tesi and insiders VentureFriends, Profounders, Inventure, and Innovestor. Go deeper
⚡️Waste to Energy Advanced Solutions, a Spanish developer of modular waste-to-energy plants, raised €10m led by SC Net Zero Ventures. Shell Ventures and insider Cemex Ventures joined. Go deeper
• Dono, a Palm Beach, Fla.–based AI property records platform, raised a $6.5m seed led by Link Ventures, with participation from lool ventures and Alumni Ventures. Go deeper
🌎 Polybee, a Singaporean pollination prediction startup, raised $4.3m in seed funding led by Paspalis Capital and Elev8 VC. Go deeper
💊 ArrayPatch, an Irish microneedling biotech, raised a €3m seed round. Lakeside Capital led, joined by Enterprise Ireland, The Boole Investment Syndicate, and DeepIE Ventures. Go deeper
🌎 The Bland Co., a U.K. startup transforming plant byproducts into functional proteins, raised $2.7m in pre-seed funding. Initialized Capital led, joined by Entrepreneurs First, Transpose Platform, Behind Genius Ventures, Alumni Ventures, and Vento. Go deeper
• Force Equals, a Tampa, Fla.-based enterprise planning OS, raised a $2.2m seed round led by Cultivation Capital. Go deeper
Private Equity
• Axis Insurance, a Canadian brokerage backed by Lee Equity Partners, acquired Treasures Insurance Edmonton. Go deeper
• By Light, a Sagewind Capital portfolio company, acquired Dignitas, a Newark, N.J.-based provider of modeling, simulation, and training products. Go deeper
• Coveris, an Austrian-paper maker, agreed to sell its sustainable paper business, BU Paper, to Kingswood Capital Management. Go deeper
• Direct Marketing Solutions, a portfolio company of Hines Global Income Trust and Main Street Capital, acquired Johnson & Quin, a Niles, Ill.-based direct marketing firm. Go deeper
• General Atlantic agreed to acquire European Wax Center (Nasdaq: EWCZ) for $330m, or $5.80 per share (45% premium to Monday's closing price). Go deeper
• KPS Capital Partners agreed to acquire The Wells Cos., an Albany, Minn.-based maker and installer of precast concrete solutions. Go deeper
• Lone Star Funds completed its $3.8b take-private buyout of Hillenbrand, a Batesville, Ind.-based plastic parts maker. Go deeper
• Mission Wealth, a portfolio company of Great Hill Partners, is merging with RightPath Investments & Financial Planning, a Frisco, Colo.-based fiduciary wealth advisory. Go deeper
Liquidity
• Inflexion Private Equity is weighing the sale of a control stake in Acorn Group, a U.K. motor and home insurer that could be valued at £1b, per Bloomberg. Go deeper
• Nebius (Nasdaq: NBIS) agreed to acquire Tavily, a maker of search engine tech for AI agents, for a reported $275m. Tavily had raised $25m from Alpha Wave Global and Insight Partners. Go deeper
• Tubi Media, a unit of Fox Corp. (Nasdaq: FOXA), acquired Supercast, a podcasting subscription tool seeded by Syrus Partners, Horseplay Ventures, and Form Capital. Go deeper
M&A
🌎 Dcycle, a sustainability data management provider, acquired ESG-X, a German sustainability reporting software developer. Go deeper
• McElroy Metal, a Bossier City, La.-based construction components manufacturer, acquired Fabral, a Scottsdale, Ariz.-based metal parts construction company. Go deeper
• The Valcourt Group, a Texas-based restoration services provider for commercial properties, acquired Service Painting Corporation, a Tampa, Fla.-based painting, coatings, and waterproofing services company. Go deeper
Fundraising
⚡️Liberty Mutual Investments, the insurer's asset-management arm, agreed to back decarbonization-focused Ara Partners' energy and infrastructure strategies and invest in its new energy fund. Go deeper
It's Personnel
• Construct Capital promoted Camila Key Saruhashi to partner. Go deeper
• Damian Handzy, formerly managing director of analytics at Confluence Technologies, joined Saphyre as chief operating officer. Go deeper
• Frank Holding, chairman and CEO of First Citizens Bank (Nasdaq: FCNCA), was appointed to the Federal Reserve Board of Governors' Federal Advisory Council. Go deeper
• Jim Farley, president and CEO of Ford Motor Co., was elected to the board of directors at McDonald's (NYSE: MCD). Go deeper
Odds & Ends
• McKinsey & Co. is handing control of its $20b investment arm, MIO Partners, to the asset manager Neuberger Berman. Go deeper.
Debt
⚡️Twaice, a German battery-storage software developer, secured €24m in venture debt from the European Investment Bank. 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.
