Illustration: Shoshana Gordon/Axios
Venture Capital
• Vultr, a West Palm Beach, Fla.-based cloud provider, is seeking to raise at least $1b in new capital, per The Information. Go deeper
• Harvey, an SF-based legal AI company, raised $200m at an $11b valuation, led by GIC and Sequoia. Go deeper
• Granola, a Dover, Del.-based AI notetaking startup, is raising $125m at a $1.5b valuation, led by Index Ventures, with Kleiner Perkins, Lightspeed Venture Partners and Spark Capital participating. Go deeper
• PDW, a Huntsville, Ala.-based drone company, raised more than $110m in a Series B round led by Ondas and joined by Hood River, Cedar Pine, Hanwha Asset Management's venture fund and Booz Allen Hamilton. Go deeper
💊 Immutrin, a U.K. antibody therapy biotech, raised an $87m Series A. Frazier Life Sciences led, joined by F-Prime, Qiming Venture Partners, SR One, Cambridge Innovation Capital and Cambridge Enterprise Ventures. Go deeper
💊 Gilgamesh Pharma, an NYC-based neuroscience biotech, raised a $60m Series A led by Satori Neuro and joined by Prime Movers Lab. Go deeper
💊 Terrestrial Bio, a Boston-based GLP-1 delivery company, raised a $50m Series C. RA Capital led, joined by Engine Ventures, GHIC and Siteground. Go deeper
🚑 Thesis Care, an NYC-based care delivery tool, raised a $45m in Series A led by Oak HC/FT with participation from CRV and Black Opal Ventures. Go deeper
• Entrix, a German battery optimization company, raised €43m led by Junction Growth Investors and Korys, with BNP Paribas, Allianz, AENU, Enpal, Abacon and Arvantis Group participating. Go deeper
• Sift, an El Segundo, Calif.-based machine software startup, raised a $42m Series B led by StepStone and including GV, Riot Ventures, Fika Ventures, and CIV. Go deeper
• PAVE Space, a Swiss space infrastructure company, raised a $40m seed round led by Visionaries Club and Creandum, with Lombard Odier Investment Managers, Atlantic Labs, Sistafund, b2venture, ACE Investment Partners, Ilavaska Vuillermoz Capital and Pareto & Motier Ventures participating. Go deeper
🚑 Adonis, a New York-based AI orchestration platform for revenue cycle management in health care, raised a $40 million Series C led by Quadrille Capital with support from insiders General Catalyst and Bling Capital. Go deeper
• Subbyx, an Italian subscription infrastructure startup, raised a €30m Series A led by Systemiq Capital, with Azimut participating. Go deeper
• Miraterra, a Canadian ag-tech company, raised C$16m led by At One Ventures and joined by Farm Credit Canada, S2G Investments, the Sitka Foundation and iSelect. Go deeper
• Trayd, an NYC-based back-office operating system for specialty trade contractors, raised a $10m Series A round led by White Star Capital, with YC, Suffolk Technologies and RXR Realty participating. Go deeper
💊 RyboDyn, a San Diego-based cancer biotech, raised a $10m seed from Genedant, SeaX Ventures, SOSV, Swell VC, Massive Tech Ventures and P2V. Go deeper
• Krane, an SF-based construction supply chain management startup, raised a $9m seed. Glasswing Ventures and Link Ventures co-led, joined by Tunitas Ventures, RoseCliff, New-Normal Ventures, and angel investors. Go deeper
• Eunice, a London-based developer of due diligence infrastructure for regulated markets, raised $8m in seed and pre-seed funding led by Moonfire Ventures and Speedinvest, with Openspace Ventures participating. Go deeper
• Talino, an LA-based fintech foundry, raised a $7.5m Series A led by Chemonics International, with Mt Sinai Capital and Gulf Blvd participating. Go deeper
• Payy, an NYC-based stablecoin payments startup, raised a $6m seed round led by FirstMark Capital, with Robot Ventures and DBA Crypto participating. Go deeper
• Arinna, a South San Francisco, Calif.-based space solar startup, raised a $4m seed led by Spacecadet Ventures and joined by Anorak Capital and Breakthrough Energy Foundation. Go deeper
🚑 Triangle Health, a Pasadena, Calif.-based AI health platform, raised $4m. SNR.vc led, joined by Hannah Grey VC and Antler Criticality Fund. Go deeper
💊 Virchow Medical, a La Jolla, Calif.-based precision cancer company, raised a $4m seed led by Cerberus Ventures. Go deeper
Private Equity
⚡️ Clearlake agreed to acquire Qualus, a Lake Mary, Fla.-based power and electric grid services platform, from New Mountain Capital. Go deeper
• Echo Global Logistics, a portfolio company of The Jordan Company, completed its acquisition of ITS Logistics, a Reno, Nev.-based freight transportation company, from GHK Capital Partners. Go deeper
Liquidity
• Cinven has agreed to sell a minority stake in Envu, a Cary, N.C.-based pest control manufacturer, to GIC. Go deeper
• Blueprint Healthcare Real Estate Advisors, a Chicago-based health care real estate investment advisor, acquired lending platform FHA/HUD from MidCap Financial. Go deeper
• Pepper, a New York-based technology startup for food distributors, acquired Alima, a Mexican supply chain startup backed by Y Combinator. Go deeper
M&A
• JetBlue, the airliner that previously sought to buy Spirit Airlines, is weighing the possibility of selling itself to rivals, per Semafor. Go deeper
Public Offerings
💊 Research Alliance III, a SPAC formed by RA Capital, filed to raise up to $50m in an IPO. Go deeper
Debt
⚡️ Budderfly, a Shelton, Conn.-based commercial energy company, added $250m to a debt facility, led by BlackRock's Global Infrastructure Partners, and including Vantage Infrastructure. Go deeper
Odds & Ends
💊 Biogen agreed to pay $20m upfront and up to $559 to South Korea biotech Alteogen in a licensing agreement to develop and commercialize subcutaneous formulations of two unnamed biologics. Go deeper
💊 Merck agreed to pay $20m upfront and up to $2.2b to Quotient Therapeutics to develop inflammatory bowel disease therapies. Go deeper
It's Personnel
• Nyca Partners promoted Jasleen Kaur to partner and Agastya Gupta to principal. Go deeper
• Alyssa Henry, former CEO of Square at Block, joined PayPal's board of directors, as board member Gail J. McGovern is stepping down. Go deeper
💊 Robert Hollingsworth, former chief scientific officer at Shoreline Therapeutics, joined Protillion Biosciences as chief scientific officer. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Lucinda Shen, Ryan Lawler, Chris Metinko, Chelsea Naso, Alan Neuhauser, Dan Primack, and Brock E.W. Turner contributed to this report.
