Illustration: Eniola Odetunde/Axios
Venture Capital
• Koho, a Canadian neobank focused on the underbanked, raised C$130m from Mubadala, Savano Capital, Portage Ventures, Drive Capital, BDC Capital, HOOPP, and Eldridge. Go deeper
• PhoenixAI, a Menlo Park, Calif.-based agentic database developer, raised an $80m Series B. Sky9 Capital led, joined by Atypical Ventures, and Olive Technology Ventures. Go deeper
🌎 Climate First Bancorp, an Orlando, Fla.-based holding company behind Climate First Bank and OneEthos, raised $67m led by Wellington Management and Alliance Bernstein. Go deeper
⚡️ Endurance Energy, a developer of subsea geothermal power systems, raised $54m in Series A funding. Founders Fund led, joined by Felicis, Voyager Ventures, Riot Ventures, Construct Capital, Point72 Ventures, and First Round Capital. Axios Pro flashback
• Coram AI, a Sunnyvale, Calif.-based AI physical security platform, raised a $35m Series B co-led by Ansa Capital and Battery Ventures, with participation from UP.Partners, 8VC, and Mosaic Ventures. Go deeper
• NS/TX, a Toronto-based alt protein manufacturer, raised a USD$10.5m Series A co-led by Inter IKEA Development BV and Lever VC. Go deeper
• Artis, an Austin, Texas-based social marketer for residential design and construction firms, raised a $7.3m seed led by LiveOak Ventures, with participation from Mark vc and Capital Factory. Go deeper
⚡️ Enera, a European EV charging recovery platform, raised a $2m pre-seed round. Lakehouse Ventures led, joined by Divergent Capital and Masia. Go deeper
• Diamond Brew, a Chicago-based brewless coffee pod company, raised a pre-seed round from G/7 Venture Studio, Filipp Chebotarev of Cambridge Companies SPG, Beckett Industries, and SGL Acquisitions. Go deeper
Private Equity
• Elliott Advisors is joining a group of bidders in their pursuit of The Very Group that could value the British online retailer at £2b. Go deeper
• KKR and co-investors will buy a stake in Crowe, a Chicago-based accounting firm, in a deal worth nearly $3 billion. Go deeper
• Levata, a Chicago-based retail and industrial tech company backed by Odyssey Investment Partners, is buying Posdata Group, an enterprise payment tech company. Go deeper
• Nordic Capital will buy Flowa Technology, an engineered water infrastructure company, from Vestum. Go deeper
🌎 Palm Ventures acquired AeroFarms, a Danville, Va.-based indoor vertical farming and microgreens company. Go deeper
• PassCo, a perimeter security company owned by Halle Capital, acquired three companies: Southeastern Overhead Door, Fairborn Northeast, and Communication Concepts. Go deeper
• Rox Capital Partners acquired Interstate Threaded Products, a Dallas-based maker of threaded industrial fasteners. Go deeper
• Woven Solutions, a Falfurrias portfolio company, acquired Insignis, a U.K. provider of systems engineering and software development for cyber operations. Go deeper
M&A
💊 Chiesi Group, an Italian biopharma specializing in respiratory health, rare diseases and specialty care, acquired KalVista, a Framingham, Mass.-based developer of oral protease inhibitor drugs for rare diseases. Go deeper
• Merck Animal Health acquired Targan, a Raleigh, N.C.-based automation system developer for animal health and production efficiency. Go deeper
⚡️ TDK of Japan agreed to acquire Fabric8Labs, a San Diego-based maker of copper electrochemical additive manufacturing technology, for up to $400m. Go deeper
