Illustration: Lazaro Gamio/Axios
Venture Capital
• Etched, a San Jose, Calif.-based inference chip startup, raised $300m at a $10.3b valuation. Sequoia led, joined by a16z, Jane Street, Diffusion, and SK Hynix. Go deeper
• BusinessNext, an Indian banking software and AI company, raised $40m from ServiceNow Ventures at a $700m valuation. Go deeper
• Abstract, an SF-based security operations startup, raised $25m. Cheyenne Ventures and AVP led, joined by Olive Hill Ventures Crosslink Capital and Rally Ventures. Go deeper
🌎 Moa Technology, a U.K.-based sustainable weed management startup, raised £22.2m in Series C funding. Oxford Science Enterprises and Supernova Invest led, joined by Agri Investment Fund, GrainInnovate, Infinity Investment Partners, and Magdalen College Oxford. Go deeper
• Ropedia, a Singapore-based robotics data infrastructure startup, raised $22m from undisclosed venture investors. Go deeper
• Elio, a San Mateo, Calif.-based company building AI sensors, raised $21m led by Innovation Endeavors and Xora, and joined by Scribble VC, UpWest and Resolute Ventures. Go deeper
⚡️ Resolute Grid, a Rockwall, Texas-based grid gear startup, closed $18.2m of a $18.9m round, according to a filing. Go deeper
⚡️ Oris, an Italian developer of laser-based wireless power transmission systems for orbit and defense applications, raised €4.5m in pre-seed funding. Earlybird Venture Capital and Pitchdrive led, joined by Galaxia, Vento, and Piemonte Next Fund. Go deeper
⚡️ Aampere, a German used EV online marketplace, raised €4.2m. Existing investor Trind Ventures led, joined by Vend Marketplaces. Go deeper
• Coverwatch, a startup evaluating risk and premiums for commercial insurance, raised a $4.5m pre-seed round led by CoFound and Restive and joined by KFund and liquid2 ventures. Go deeper
• Imagi, an NYC-based ed-tech vibe coding startup, raised a $4.5m seed round from Brighteye Ventures and Day One Capital. Go deeper
Private Equity
• Bregal Sagemount agreed to acquire a majority stake in ATOZ Services, a Luxembourg-based fund-services provider. Go deeper
• Coalesce Capital acquired Workstreet, an SF-based cybersecurity and compliance-services company. Go deeper
• GA Group, backed by Oaktree, acquired Trampe Settles, a Dallas-based firm specializing in litigation support and forensic accounting. Go deeper
• Harbinger Sports Partners Fund, led by Mark Cuban, is buying a minority stake in MLB's Athletics. Go deeper
• Leon Financial Network invested in Tocqueville Asset Management, a New York-based investment manager. Go deeper
⚡️ MN8 Energy, backed by Ridgewood Infrastructure, agreed to acquire Greenbacker Renewable Energy, a New York-based renewable-power producer, for up to $375m. Go deeper
• Semcap Beauty & Wellness made a minority investment in Merit, a West Hollywood, Calif.-based cosmetics brand backed by Avenir Growth Capital, GG 1978, and L Catterton. Go deeper
• The new Seattle Seahawks owners, a group led by Vinod and Neeru Khosla, are in talks with former Sequoia Capital managing partner Mark Stevens, Sixth Street, Carlyle, and Dynasty Equity Partners Management for a joint bid, per Bloomberg. Go deeper
• Tayeh Capital Group acquired a majority stake in Council Advisors, a New York-based executive advisory firm. Go deeper
• Tinicum invested in GracoRoberts, an Arlington, Texas-based specialty chemicals distributor. Go deeper
• Warburg Pincus, Goldman Sachs Alternatives and Sixth Street backed Paradigm Oral Health's buyback of BlackRock Long Term Private Capital's stake, returning majority control of the Lincoln, Neb.-based oral surgery company to its surgeons and management. Go deeper
Liquidity
⚡️ Brookfield acquired battery storage developer Aypa Power from Blackstone for an enterprise value of approximately $7b, representing an equity value of $3b. Go deeper
🚑 Cardinal Health (NYSE: CAH) agreed to acquire the Diabetes Health business of AdaptHealth (NASDAQ: AHCO), and Strive Medical, an Irving, Texas-based urology-focused supplier backed by NMS Capital, for a total of $360m in cash. Go deeper
Debt
⚡️ Modo Energy, a U.K. developer of finance modeling software for the renewables and storage sectors, closed $17m in financing from CIBC Innovation Banking. Go deeper
It's Personnel
• Mobileye CEO Amnon Shashua, who founded the Israeli self-driving tech developer, is stepping down. Go deeper
