Illustration: Gabriella Turrisi/Axios
Venture Capital
• Meta invested $900m in Indian fintech Cred at a $4.5b valuation. CEO Kunal Shah will step down to join Meta as head of WhatsApp. Go deeper
• Peregrine Technologies, an SF-based data connectivity company servicing state and local government, raised $250m in Series D funding at a $6.8b valuation from Fifth Down Capital, Sequoia Capital, OG Venture Partners, Goldcrest Capital, XYZ Ventures, and Godfrey Capital. peregrine.io
⚡️Spiro, an African EV maker and battery-swapping network, raised $55m from NewTrails Capital. Go deeper
• Ploy, an SF-based marketing platform, raised $27m in seed funding led by First Round Capital and YC. Go deeper
🚑 Solius Labs, a Bainbridge Island, Wash.-based maker of UVB light therapy devices, raised $23 million in Series A funding led by Lauder Partners. Go deeper
🚑 ChemT, a Singaporean biomanufacturing startup, raised $4m in seed funding led by Wavemaker Ventures and SEEDS. Go deeper
• H3 Zoom, a Singaporean AI inspection and asset intelligence company for infrastructure, raised $3.6m in Series A funding. JRE Ventures led, joined by SGInnovate and M7 Holdings. Go deeper
🌎 Seqana, a Berlin-based provider of soil health monitoring, raised €3.2m. Pymwymic led, joined by insiders HTGF and Counteract. Go deeper
🌎 Tugboat Solutions, a Grand Forks, N.D.-based developer of consumer insurance claims analytics, raised $3m in seed funding. ResilienceVC led, joined by Sure Ventures, South Dakota First, and Gener8tor. Go deeper
⚡️Acodyne, a Copenhagen-based developer of unmanned cargo aircraft for defense and offshore logistics, raised €2.5m in pre-seed funding. Gungnir Capital and PSV Hafnium led, joined by EIFO, SAP9 Group and GreenUP IV Invest. Go deeper
Private Equity
• Aeterna Group, backed by Signal Hill Equity Partners, launched after combining five architecture and engineering firms: CSArch (Albany, N.Y.), ZMM Architects and Engineers (Charleston, W.V.), Kluber Architects + Engineers (Aurora, Ill.), KGD Architecture (Washington, D.C.), and Omni Associates Architects (Fairmont, W.Va.). Go deeper
🚑 DHCare, backed by Rhône, agreed to acquire the human mobility division of Ottobock, a German maker of wheelchairs and mobility solutions. Go deeper
• Greybull Stewardship acquired Genesys Industries, a Palmetto, Fla.-based maker of aerospace, commercial aviation, and specialty industrial products. genesysindustries.com
• The Master Group, a Novacap Management portfolio company, acquired Distributor Corporation of New England, a Malden, Mass.-based HVAC distributor. Go deeper
• Rise Baking, backed by Butterfly Equity and Platinum Equity, agreed to acquire Jimmy's Gourmet Bakery, a New Jersey-based maker of premium cookies and baked goods. Go deeper
🚑 Tredence, an Advent International portfolio company, acquired KMK Consulting, an analytics firm focused on life sciences and biopharma. Go deeper
• Verdantas, backed by Sterling, acquired Yu & Associates, an Elmwood, N.J.-based geotechnical, environmental and civil engineering firm. Go deeper
M&A
• FusionIQ, backed by B. Riley Ventures and Raptor Group, acquired Marstone, a Providence, R.I.-based financial literacy company, from Mendon Venture Partners and South Rose Capital. Go deeper
⚡️ Nextpower (NAS: NXT) agreed to acquire Zimmermann PV-Steel Group, a German solar mounting structure manufacturer, for up to €330m. Go deeper
Liquidity
• Booz Allen Hamilton (NYSE: BAH) agreed to acquire the Ultra I&C Mission Solutions business from Advent-backed Cobham Ultra Group for $720m. Go deeper
• Holcim completed its acquisition of Xella, a German sustainable walling solutions company, from Lone Star. Go deeper
• Nordic Climate Group acquired ebutec Group's HVAC unit from Ufenau Capital Partners. Go deeper
It's Personnel
• Axel André, former CFO at Reinsurance Group of America (NYSE: RGA), will join TPG as CFO. He will succeed Jack Weingart, who will transition to CEO of TPG's global wealth solutions unit. Go deeper
• Nicola Kerslake joined Reservoir as a general partner following its acquisition of Contain, an agriculture finance and data platform founded by Kerslake. reservoir.co
Odds & Ends
⚡️ Engine No. 1 and GE Vernova launched Joulent to develop and acquire gas, solar and storage assets for AI data centers. Go deeper
