Illustration: Sarah Grillo/Axios
Venture Capital
• Wonder, an NYC-based cloud kitchen company, raised $650m in Series D funding at a $9b valuation. Investors include Accel, GV, New Enterprise Associates, AllianceBernstein, ARK Invest and Kayne Anderson Rudnick Investment Management. Go deeper
• American Growth Insurance, an Atlanta-based AI insurance brokerage roll-up business, raised $70m. Atomic and Rockbridge Growth Equity led. Go deeper
• Fora, an NYC-based travel booking platform, raised $60m in Series D funding at a $1b valuation. Forerunner and Tactile Ventures led, joined by Thrive Capital, Insight Partners, Heartcore Capital, PLUS Capital, Amy Schumer, BlackPines Capital Partners, and Tribeca Venture Partners. foratravel.com
🚑 Bunkerhill Health, an SF-based agentic AI platform for health systems, raised $55m from seed to Series B funding. Khosla Ventures led, joined by Sequoia Capital, Felicis, Optum Ventures, and YC. Go deeper
• Sable, an SF-based customer communications AI company, raised $45m led by Sequoia Capital and 8VC. BoxGroup, SV Angel, Valor Atreides AI Fund, Sabrina and Evan Hahn joined. Go deeper
• Whale, an SF-based enterprise AI company, raised a $40m Series C extension led by CMB International and SMBC Asia Rising Fund. Krungsri Finnovate, Singtel Innov8, Hyundai Motor Group and Charisma Partners joined. Go deeper
🚑 Corner Health, a Santa Monica, Calif.-based practice management software company, raised $32.5m led by Oak HC/FT. First Round Capital and Zigg Capital joined. Go deeper
🌎 NxLite, a Canton Township, Mich.-based manufacturer of energy-efficient glass coating, closed a $13.1M Series A led by Crabtree Lane Alt and including VoLo Earth Ventures, Earth Foundry, MUUS, New Climate Ventures, ACT Venture Partners, plus $3.5M in debt from RSF Social Finance. Go deeper
• Hyperion Robotics, a Finnish robotics startup, raised $7.4m co-led by Course Corrected and the European Innovation Council Fund. RE Ventures, Lifeline Ventures, Übermorgen Ventures and PC Rettig Impact & Co. joined. hyperionrobotics.com
💊 Mandrake Bio, a Bengaluru-based foundational protein design company focused on programmable gene editors, raised $1.7m in pre-seed funding. Activate and Antler led, joined by Spectrum Impact DeVC, Vijay Chandru, Paras Chopra, Sanjiv Rangrass, and Vatsal Dusad. mandrakebio.com
Private Equity
• Apax Digital Funds invested in Inspectorio, a Minneapolis-based supply chain management platform. Go deeper
• Big Brand Tire & Service, backed by Percheron Capital, agreed to acquire Belle Tire, a Southfield, Mich.-based tire and automotive service provider. Go deeper
• Crypto.com, a Singapore-based cryptocurrency exchange, said Citadel Securities made a $400m investment in the company at a $20b valuation. Go deeper
• F2 Strategy, backed by Renovus Capital Partners, acquired Intelligo Partners, a Toronto-based wealth and asset management consultancy. Go deeper
• Lyric, backed by TPG, acquired Concert, a Nashville-based diagnostic-focused health payments company. Go deeper
• One Equity Partners agreed to acquire United Weld Holdings, a Baton Rouge, La.-based pipe fabricator and distributor, from Bernhard Capital Partners. Go deeper
• Sizemore, backed by Inspirit Equity, agreed to acquire Carlson Building Maintenance, a Minneapolis-based janitorial services provider. Go deeper
Liquidity
• Ninjio, a Calif.-based cybersecurity and risk management firm, bought SafeStack, a security training platform that Ninjio was already partnering with. SafeStack raised NZ$4m ($2.3m) in 2022 led by Blackbird and joined by Jelix Ventures, Carthona Capital, NAB Ventures, K1W1, and New Zealand Growth Capital Partners' Aspire NZ Seed Fund. Go deeper
• Trive Capital closed its sale of Kittyhawk, a hot isostatic pressing services provider for mission-critical applications, to Viking Global portco Machine Sciences. Go deeper
• Axa will sell its 10% stake in Ardian, with The Assurances du Crédit Mutuel (ACM) and Wafra investing further in the private investment firm. Go deeper
M&A
💊 Angelini Pharma completed its $4.1b acquisition of Catalyst Pharmaceuticals (Nasdaq: CPRX), a rare diseases drugmaker. Go deeper
• Elon Musk acquired Jacksonville-based APR Energy for $1B from Duos Technologies Group, according to an FTC filing, first reported by the Florida Times-Union. Go deeper
• Instacart (Nasdaq:CART) acquired Arpalus, an Israeli computer vision company for supermarket shelves. Go deeper
Public Offerings
• QumulusAI, which provides cloud computing services to data centers, completed a direct listing on the Nasdaq under the symbol QMLS, per Renaissance Capital. All shares were sold by existing shareholders for between $3 and $23.15. Go deeper
• Vogenx, an endocrine and metabolic disorders biotech, filed for an IPO and plans to raise up to $75m, per Renaissance Capital. Go deeper
Fundraising
• Uplift Investors closed its inaugural fund with $670m. Go deeper
• Lockheed Martin Ventures plans to spend $100M in the U.K.and Europe and plans to open a London office. Go deeper
It's Personnel
• Ken Lau joined Left Lane as an investor. He was previously at Red Sea Ventures. Go deeper
