Illustration: Natalie Peeples/Axios
Venture Capital
• Instinct, an SF-based AI assistant maker, is raising a $250m Series B at a $2.5b valuation. Index Ventures and Benchmark are co-leading, per the WSJ. It previously raised $100m. Go deeper
🚑 Gestala, a Chinese brain-computer interface platform, raised about $84m from HSG, Lens Technology, Sinovation Ventures, C Capital, Dalton Venture, Seas Capital, Tsing Song Capital, and Gobi Partners. Go deeper
🚑 Faro AI, a San Diego-based provider of structured data and AI infrastructure for clinical development, raised $37.3m in Series B funding. Merck Global Health Innovation Fund and S32 led, joined by Ankona Capital and insiders General Catalyst, Northpond Ventures, Polaris Partners, PTX Capital, and Zetta. Go deeper
• Deep Cogito, a hybrid reasoning model developer, raised $43m in Series A funding. TQ Ventures led, joined by Benchmark, Nexus Venture Partners, Atreides Management, South Park Commons, and Zscaler. Go deeper
🚑 Arintra, an SF-based health care revenue assurance platform, raised $25m in Series B funding. Define Ventures led, joined by Endeavor Health, Peak XV Partners, Yale New Haven Health Center for Health Care Innovation, Endeavor Health Ventures, YC, Counterpart Ventures, Ten13, and Spider Capital. Go deeper
🌎 TerraBlaster, a Redwood City, Calif.-based developer of soil-nutrition sensors, raised $12.5m in seed funding. Ulu Ventures led, joined by Khosla Ventures, Trailhead Capital, Builders Vision, Bidra, Ag Startup Engine, Reservoir, Sunna, Plug and Play, GrainInnovate, and the Hort Innovation Venture Fund. Go deeper
• Arga Labs, an SF-based startup that trains agents for enterprise software, raised a $10m seed. General Catalyst led, joined by Box Group, Emergence, Gradient, and SV Angel. Go deeper
⚡️Teragen Energy, a Southborough, Mass.-based fuel cell developer, raised $6m in pre-seed funding. BEVC and Energy Capital Ventures led, joined by AP Ventures, AIC Ventures, Massachusetts Clean Energy Center, and UntroD Capital Asia. Go deeper
⚡️ Maglut Heavy Industries, a Long Beach, Calif.-based rare earths processor, raised $3.1m from Wave Function, Nova Threshold, and Julian Capital. Go deeper
🌎 Facet Amtech, an Australian startup producing ammonia from air and water, raised A$3m in seed funding from Main Sequence and Uniseed. Go deeper
Private Equity
• DAZN, backed by Access Industries, agreed to a stock acquisition of EverPass Media, a live sports media group whose properties include NFL Sunday Ticket. EverPass backers include RedBird Capital Partners, 32 Equity, and TKO Group. Go deeper
• Hidden Harbor Capital Partners acquired Escape Fire Protection, a Vadnais Heights, Minn.-based fire safety provider for commercial and industrial customers. Go deeper
• RedBird Capital Partners has agreed to acquire a majority stake in digital media company Puck at around a $250m valuation. Puck had raised at least $20m from exiting firms like Forty North Media, TPG, Standard Investments, British Business Investments and J. Rothschild Capital. Go deeper
🚑 Thurston Group invested in Pixel Health, a provider of IT consulting and MSP services to hospitals and large physician groups. Go deeper
• Truvant, a portfolio company of the Halifax Group, acquired Multi-Pak Packaging, a West Caldwell, N.J.-based contract packager. Go deeper
🚑 VetnCare, backed by Great Point, acquired Geary Veterinary Hospital, a Walnut Creek, Calif.-based animal care practice. Go deeper
M&A
• Sumitomo (Tokyo: 8053) led an A$813m takeover bid for Australian auto leasing firm FleetPartners (ASX: FPR), which also has offers from Orix, Pacific Equity Partners, and Element Fleet. Go deeper
Fundraising
• Capital F, a venture firm looking to back companies in the "female economy," closed a $17m debut fund. Go deeper
⚡️ MassMutual Ventures launched its second climate fund with $150m. Go deeper
• Navisalma, a new European deep-tech VC firm launched by two Einride co-founders, will seek to raise €450m. Go deeper
It's Personnel
• Adam Fitzner joined Star Mountain Capital as a managing director and strategic portfolio manager. He previously was with Hamilton Robinson Capital Partners. Go deeper
