Illustration: Sarah Grillo/Axios
Venture Capital
• Exa Labs, an SF-based AI search startup, raised $250m at a $2.2b valuation led by a16z. Go deeper
• Mercury, an SF-based business banking startup, raised $200m at a $5.2b valuation. TCV led, joined by Sequoia Capital, Andreessen Horowitz and Coatue. Go deeper
• Primer, a London-based payments infrastructure startup, raised $100m in Series C funding. Sofina and Peak XV Partners led, joined by Balderton, Accel, Iconiq, Tencent, and Speedinvest. Go deeper
• Moment, an NYC-based investment management platform, raised $78m in Series C funding. Index Ventures led, joined by Andreessen Horowitz and Avra. Go deeper
• Socket, an SF-based cybersecurity startup focused on software supply chain attacks, raised $60m in Series C funding at a $1b valuation. Thrive Capital led, joined by a16z, Abstract Ventures, and Capital One Ventures. Go deeper
• Variational, a Cayman Islands-based decentralized derivatives trading protocol, raised $50m in Series A funding. Dragonfly Capital led, joined by Bain Capital Crypto and Coinbase Ventures. Go deeper
• Quartermaster, an Arlington, Va.-based maritime awareness platform, raised $43m in Series A funding. First Round Capital and Quiet Capital led, joined by TMV Logistics, Steel Atlas, BoxGroup, and Operator Partners. Go deeper
• Catena Labs, a Boston-based financial infrastructure startup, raised $30m in Series A funding. Acrew Capital and a16z crypto led, joined by Breyer Capital, General Catalyst and QED. Go deeper
• Prelude, a French digital onboarding startup, raised $20m in a Series A round. 20VC led, joined by Singular, Seedcamp, Deel and FDJ Ventures. Go deeper
• Eisen, an NYC-based compliance operations infrastructure startup for financial services, raised $18.5m, including a $10m Series A and $8.5m seed. MissionOG led the Series A and Index Ventures led the seed, joined by Cowboy Ventures, First Round Capital, Homebrew and Restive Ventures. Go deeper
• NanoCo, an Israeli startup behind NanoClaw agents, raised a $12m seed. Valley Capital Partners led, joined by Docker, Vercel, Monday.com, and Slow Ventures. Go deeper
• Quantum Bridge Technologies, a Canadian quantum cybersecurity company, raised $8m in Series A funding led by Primo Capital. Go deeper
• Checker, an NYC-based stablecoin infrastructure startup, raised $8m in seed funding from Galaxy Ventures, Al Mada Ventures, Framework Ventures, Bitso, Airtm and DFS Lab. Go deeper
• Neurosoft Bioelectronics, a Swiss brain-computer interface developer, raised a $7.5m seed led by Skybound Venture Capital and joined by PL Capital, IAG Capital Partners, and Connecticut Innovations. Go deeper
• Violet Therapeutics, a Somerville, Mass.-based neurodegenerative biotech, raised a $4.75m seed extension. Lifespan Vision Ventures led, joined by Dementia Discovery Fund, UTEC, Ono Venture Investment and Mass General Brigham Ventures. Go deeper
• Sorted Wallet, a Hong Kong-based non-custodial crypto wallet startup focused on emerging markets, raised $4.4m in seed funding. Tether and Gnosis led, joined by Movement and Angel Invest Group. Go deeper
⚡️Avian, a Swiss developer of thermal monitoring solutions for fire-prone facilities, raised $2.6m in pre-seed funding led by Founderful. Go deeper
⚡️ Invertix, a German developer of autonomy software for renewables operators, raised €1.7m in pre-seed funding led by Vireo Ventures, joined by the Italian Founders Fund. Go deeper
🌎 Triple Bio, a Dutch developer of feed additive to reduce methane emissions and use hydrogen for fermentation, raised €1.5m from Nucleus Capital, Positron Ventures and Climate Club. Go deeper
Private Equity
• GreyLion invested in Tanis Brush, a Delafield, Wis.-based maker of industrial and abrasive brushes. Go deeper
• Integrated Home Care Services, a Nautic Capital portfolio company, acquired Dina Care, a Chicago-based care coordination and referral management platform that had raised $18m from VC firms like First Analysis, Chicago Ventures, Osage Venture Partners, and Meridian Street Capital. Go deeper
⚡ MidOcean Energy, a liquified natural gas company formed by EIG, raised $120m from The Arab Energy Fund. Go deeper
• NMI, a portfolio company of Francisco Partners, Insight Partners and Great Hill Partners, acquired Dwolla, an account-to-account payments infrastructure provider that had previously raised about $75m from Foundry Group, Park West Asset Management, Union Square Ventures and others. Go deeper
• Southern Home Services, a Gryphon Investors portfolio company, acquired Blazer Heating Air & Plumbing, which operates in the Richmond, Va., area. Go deeper
Liquidity
• Cyera, a NY-based data security platform, reportedly has acquired endpoint-based data protection startup Genie Security, backed by Mensch Capital and Dynamic Loop, for $50m. Go deeper
🚑 Medtronic (NYSE: MDT) plans to acquire SPR Therapeutics, a Cleveland-based chronic pain management technology company for about $650m. SPR had raised about $92m from Revelation Partners, RC Capital and others. Go deeper
M&A
💊 Eli Lilly acquired Engage Biologics, a San Carlos, Calif.-based biotech focused on non-viral DNA delivery systems, for $202m. Go deeper
• Sherritt International, a Canadian nickel and cobalt mining company, is in talks to sell a controlling stake to Gillon Capital LLC, a family office linked to Ray Washburne, an adviser to President Donald Trump. Go deeper
Fundraising
⚡️Skybound Venture Capital, a Greek deep-tech focused VC fund, raised $38m in an initial close of an early-stage fund, anchored by the European Investment Fund. Go deeper
It's Personnel
⚡️Klaus Kleinfeld, former CEO of Siemens AG and Alcoa, joined the board of Cyclic Materials, a Canadian rare earths recycler. Go deeper
• Matt Maddox was promoted to president and CEO of Authentic Brands Group. Founder Jamie Salter is transitioning to executive chairman. Go deeper
Odds & Ends
⚡️Carbon, a French solar manufacturer, canceled a planned €1.7b factory there, citing market and regulatory uncertainty. Go deeper
🌎A Schroders Capital and Carlton Venture JV approved a £55m investment to run a Kimberly-Clark tissue and toilet–paper factory on green hydrogen. Go deeper
