Illustration: Eniola Odetunde/Axios
Venture Capital
⚡️ Frore Systems, a San Jose, Calif.-based data center cooling provider, raised $143m in Series D funding at around a $1.6b valuation. MVP Ventures led, joined by Fidelity, Top Tier, Mayfield Fund, Clear Ventures, Addition, Qualcomm Ventures, StepStone Group, and Alumni Ventures. Go deeper
🌎 ReNew Green Energy Solutions, an Indian decarbonization company, raised $95m. LeapFrog Investments led, joined by Emerging Market Climate Action Fund and Carlyle AlpInvest as co-investors. Go deeper
⚡️ GA Drilling, a Houston-based geothermal drilling tech developer, raised $44.1m, including $19.4m converted from a SAFE. TomEnterprise led, joined by Underground Ventures. Go deeper
• Atlys, an Indian digital visa processing platform, raised $36m in Series C funding. Susquehanna Asia Venture Capital led, joined by Elevation Capital, Long Journey Ventures, Peak XV Partners, and MakeMyTrip. Go deeper
• MetaComp, a Singaporean digital assets infrastructure firm, raised $35m from Alibaba, Spark Venture, and existing investors. Go deeper
• Fuse, an NYC-based loan origination system startup, raised $25m in Series A funding from Footwork, Primary Venture Partners, NextView Ventures, and Commerce Ventures. Go deeper
• Chorus Intelligence, a U.K. provider of digital intelligence and investigative software, raised £15m from Maven Capital Partners. Go deeper
🌎 WeSort.AI, a German developer of recycling sorting tech, raised €10m from Infinity Recycling, Green Generation Fund, Vent.io, and the Sprind agency. Go deeper
🌎 AgZen, a Somerville, Mass.-based developer of smart irrigation systems for crops, raised $10m in Series B funding. DCVC Bio led, joined by Material Impact and Astanor. Go deeper
• Choice, a Prague-founded SaaS for restaurants, raised $7.1m in Series A funding. Alea Capital Partners led, joined by Reflex Capital, Smartlink, and J&T Ventures. Go deeper
• Certiv, a Seattle-based endpoint security startup for AI agents, raised $4.2m in pre-seed funding from Aviso Ventures, Founders' Co-op, and Fortson. Go deeper
🌎 Grodi, Spanish robotic crop sensor and data provider, raised €2.5m. Swanlaab Innvierte Agri FoodTech led, joined by Axon Desarrollo Andalucía and Innvierte. Go deeper
• Eileen, a Pittsburgh-based retail tech startup, raised $1m in pre-seed funding led by Top Shelf Ventures. Go deeper
Private Equity
• Apollo is in talks to buy a significant minority stake in Syntegon, a German packaging machine company owned by CVC Capital Partners, per Bloomberg. It could value the company at $4.6b. Go deeper
• Black Bay Partners invested in Altara, a Rogers, Ark.-based provider of H2S removal solutions from sour oil and water production. Go deeper
• Capstone Point Holdings acquired the entertainment media division of Optimal, a media planning and buying agency backed by ORIX Capital Partners. Go deeper
• GoldState Music and TA Associates invested in Too Lost, a music tech and services platform for independent artists and record labels. Go deeper
• Nordic Capital acquired TradingHub, a London-based provider of surveillance software for financial institutions, from Summit Partners (which retains a minority stake). Go deeper
• PennAero, a portfolio company of Tinicum and Blackstone, acquired the aerospace assets of TriMas, a Bloomfield Hills, Mich.-based packaging materials company. Go deeper
• Proviso Capital acquired American Color Imaging, a Cedar Falls, Iowa-based professional photography lab and imaging services provider. Go deeper
• Technimark, an Oak Hill Capital portfolio company, acquired Rage Custom Plastics, a Hilliard, Ohio-based provider of blow and injection-molded plastic products for health care. Go deeper
Public Offerings
• Janus Living, a Denver-based senior housing REIT being carved out of Healthpeak Properties (NYSE: DOC), set IPO terms to 37m shares at $18-$20. It would have a $4.8b fully diluted value at the midpoint and plans to list on the NYSE (JAN). Go deeper
Liquidity
• Apple (Nasdaq: AAPL) acquired MotionVFX, a macOS video effects and plugin maker backed by Seronera Capital Partners. Go deeper
M&A
• Abra Financial, a crypto wealth management platform, agreed to go public through a reverse merger with New Providence Acquisition Corp. III (Nasdaq: NPACU)at a $750m valuation. The combined company is expected to trade on Nasdaq under ticker ABRX. Go deeper
⚡️Polestar (Nasdaq: PSNY), the Swedish EV maker, closed $300m in equity investments from Crédit Agricole CIB, Vida Finance, Innovator and Proximastar Holdings Company. Go deeper
• Thistle Initiatives, a London-based regulatory consultancy, acquired Tori Global, a British financial services consulting firm. Go deeper
Fundraising
⚡️ Copenhagen Infrastructure Partners raised $1.5b in an initial close of its second energy transition credit fund, which is targeting $2.3b. Go deeper
• Orion Resource Partners, specializing in mining and minerals, raised $2.2b for its fourth fund. Go deeper
It's Personnel
⚡️Arevon Energy promoted Justin Johnson to CEO after he'd been serving in an interim capacity. Go deeper
• Conway Ekpo, formerly of Brex and Morgan Stanley, joined Synctera as general counsel. Go deeper
⚡️Eric Farina joined Citigroup as global co-head of infrastructure financing and capital solutions. Farina was previously managing director of Morgan Stanley's private capital markets group. Go deeper
Odds & Ends
⚡️ Wallbox, a Spanish EV charging and energy management provider, received an NYSE non-compliance warning for falling below the exchange's $50m minimum average market cap. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Chelsea Naso, Alan Neuhauser, Dan Primack, and Brock E.W. Turner contributed to this report.
