Illustration: Aïda Amer/Axios
Venture Capital
• General Intuition, an NYC-based AI lab using gaming content for training, is in talks to raise at a $6b pre-money valuation from Valor Equity Partners, Point72 Ventures, and Seven Seven Six, per TechCrunch. Go deeper
• Starcloud, a Redmond, Wash.-based developer of orbital data centers, raised $250m in Series A extension funding at $2.3b post-money. Manhattan West led, joined by Nvidia, Cisco Investments, Cedar Capital, Goanna Capital, Standard Capital, and insiders Benchmark, EQT, Soma, NFX, and 776. Axios Pro flashback
• Fasset, an LA-based stablecoin neobanking platform, raised $68m in Series C funding at a $1b valuation led by SBI Group. Go deeper
• Standard Metrics, an SF-based portfolio management platform, raised a $20m Series B led by 8VC. Salesforce Ventures, Spark Capital, January Capital, First Trust Capital Partners, Socii Capital, Kindergarten Ventures, Calm Ventures, and Gaingels joined. Go deeper
• FSH Technologies, a Philadelphia-based government software developer, raised $20m in Series A funding. Lachy Groom and Acrew Capital led, joined by Operator Partners, Contrary, and Cooley. Go deeper
• Mem0, an SF-based developer of AI memory infrastructure, raised $20m in Series A funding. Basis Set Ventures led, joined by Kindred Ventures, YC, Peak XV Partners and GitHub Fund. Go deeper
• Rezolv, an AI debt collection platform, raised $12.5m in Series A funding. Norwest led, joined by Vertex Ventures Southeast Asia and India and 3one4 Capital. Go deeper
• NeoSoul, a Malaysian decentralized AI and web3 infrastructure platform, raised $11m in seed funding. MH Ventures led, joined by Amber Group, ArkStream Capital and the 0G Foundation. Go deeper
• Euler, a San Diego-based agentic partner relationship management platform, raised a $4.3m seed led by Channel Equity Partners. Go deeper
• Supermemory, an SF-based memory layer for AI applications, raised $2.6m in seed funding. Susa Ventures, Browder Capital and SF1.vc led. Go deeper
• Embedd, a London-based developer of software infrastructure for physical AI, raised €2.3m in pre-seed funding. Seedcamp led, joined by Cocoa, Connect Ventures, 2100 Ventures, Vesna Capital, U.ventures, Underline Ventures, Common Magic and Roosh Ventures. Go deeper
Private Equity
• BVP Forge invested in Nevvon, an NYC-based compliance and training provider for home care workers. Go deeper
• Exponent agreed to invest in KTL, an Irish provider of infrastructure services to the telecom and power sectors. Go deeper
• Rotunda Capital Partners-backed Air Pro Diagnostics merged with Left Lane Capital-backed Revv, combining advanced driver assistance system repair diagnostics firms. Go deeper
• Secovia Capital acquired Ferrovia, an Auburn, Ala.-based railroad vegetation management services provider, from Genesis Rail Services, a portfolio company of Auxo Investment Partners. Go deeper
• Skimmer, a portfolio company of Mainsail Partners, acquired Pool Builder Geek and Poologics, two pool construction software platforms. Go deeper
• TMF Group, backed by CVC Capital Partners, acquired Navigator Partners, a Helsinki-based fund administrator. Go deeper
M&A
• Descartes (Nasdaq: DSGX) acquired Tai, a Huntington Beach, Calif.-based transportation management software provider for freight brokers, for $100m. Go deeper
⚡️ Otovo, a Norwegian energy services provider, agreed to acquire Green Panel Solar Energy Systems, an Israeli installation and maintenance provider for distributed energy resources, for $11m. Go deeper
⚡️ Siemens Energy is preparing to sell a majority stake in its steam turbine business and is working with Goldman Sachs on the process, per Bloomberg. Go deeper
Liquidity
• Athena Agentic bought Maxxsure, a Texas-based company that measures the financial risk of a cyber threat. Maxxsure raised a $10m seed round from Young American Capital in 2018, per PitchBook. Go deeper
It's Personnel
• Faran Nouri was named VP and global head of Applied Ventures, the deep-tech VC arm of semiconductor materials engineering firm Applied Materials. Nouri was senior partner at Natcast. Go deeper
• Tom Orr, former CEO of Seaway Plastics Engineering, joined Avista Healthcare Partners as a "strategic executive." Go deeper
Odds & Ends
⚡️ Coreshell Technologies, a San Leandro, Calif.-based battery producer, is receiving a $50m award from the U.S. Department of Energy's Manufacturing Deployment Office to expand battery production. Go deeper
