All Access

Pro Deals

Pro Deals Weekly Digest

Standard

Pro Deals Alerts

Alert

Axios Pro Deals Thought Bubble

Thought Bubble

• Anew Labs, a Chinese AI drug-discovery spinout from ByteDance, raised $290m at a $1.5b valuation, per Reuters. HSG, IDG Capital and Hillhouse Investment led, joined by 5Y Capital, Gaorong Ventures, Primavera Venture Partners, and Boyu Capital. Go deeper

• EnduroSat, a Bulgarian satellite manufacturer, raised $205m. Riot Ventures and Atreides Management led, joined by the European Innovation Council, GV, Founders Fund, and Lux Capital. Go deeper

• Nex, an SF-based gaming console developer, raised over $150m in equity and debt. Baillie Gifford and BAI Capital led, joined by NBA Investments, Logitech, Medici Capital Partners, and Raine Group. JPMorgan provided the credit facility. Go deeper

• Arcee AI, an SF-based open-weight foundation model developer, raised $150m in Series B funding at a $1b-plus valuation. Vista Equity Partners, Cambium Capital and Emergence Capital led, joined by AI10 Ventures, Hitachi, IAG, M12, P7, and Wipro. Go deeper

🚑 Circle Pharma, an SF-based cancer therapy biopharmaceutical company, raised $92.5m in Series E funding. The Column Group led, joined by Nextech Invest, RA Capital Management, Euclidean Capital, and Eli Lilly. Go deeper

• Mind, a Seattle-based data loss prevention platform, raised $72m in Series B funding. Crosspoint Capital Partners led, joined by YL Ventures and Paladin Capital Group. Go deeper

• AlphaPai, a Hong Kong-based investment research assistant, raised $50m in Series B funding from China Insurance Investment, GF Xinde Investment Management, Qiming Venture Partners, Ambrum Capital, Next Capital, Trustar Capital, and Eastern Bell Capital. Go deeper

🚑 RegCell, an Emeryville, Calif.-based T-cell therapy biotech, raised $44m in Series A funding led by Playground Global. Go deeper

• Kastle, an SF-based AI workforce for consumer lending, raised a $24m Series A round led by Insight Partners. YC, Commerce Ventures, and Fifth Wall joined. Go deeper

• Viabot, a Santa Clara, Calif.-based autonomous robotics company focused on outdoor property maintenance, raised a $24m Series A led by Walden International. CDIB Capital Group, Stalwart Ventures, Baseline Ventures, Era Ventures, Morado Ventures, and SOSV joined. Go deeper

• Ryft, a British payments startup, raised £20m in Series B funding. Gresham House Ventures led, joined by insiders Pembroke VCT and Ingenii Capital. Go deeper

🚑 Fize Medical, an Israeli smart fluid monitoring medtech, held its first close on a planned $20m Series B, led by Asahi Kasei Medical and Rapha Capital Management. Go deeper

• CorePower Magnetics, a Pittsburgh-based maker of magnetic components, raised $10.6m led by Engine Ventures and Material Impact. Go deeper

🌍 Cura Climate, a Canadian low-carbon cement startup, raised $10m led by Zacua Ventures. Sandpiper Ventures, Amplify Capital, and Vantage Futures joined. Go deeper

• Rapta, a Lake Oswego, Ore.-based manufacturing AI startup, raised $8m. Voyager Capital and Access Venture Partners led, joined by DeepWork Capital, LongKnife, Elevate Capital, Ringbolt Capital, Portland Seed Fund, and BVC. Go deeper

• Ravel, a Seattle-based textile recycling startup, raised $8.2m. One Small Planet led, joined by The Sitka Foundation, AP Ventures, At One Ventures, and Collateral Good. Go deeper

• Overfuel, an Indianapolis-based AI automotive tech company, raised $6m from Comedor Capital. Go deeper 

• Aristotle, an SF-based voice-first AI tutoring platform, raised $5m in seed funding. True Ventures led, joined by Wicklow Capital. Go deeper

🚑 Health Force, a Spanish developer of AI agents for hospital operations, raised €4.2m in seed funding. LUMO Labs led, joined by Step Venture, Next Tier Ventures, Target Global, and Calm/Storm. Go deeper

• Helios AI, a Tysons, Va.-based food supply chain AI startup, raised $3m from W23 Global. Go deeper

• Logibot, a Belgian logistics robotics platform, raised €1.4m. BeamBerlin led, joined by RDY Ventures and PMV. Go deeper

• Carlyle and CVC agreed to buy Dutch security tech provider BauWatch from Haniel at a reported €1b valuation. Go deeper

• CVC acquired a stake in Ridge, a U.K. built environment consultancy, from Horizons Capital. Go deeper

• Edelweiss Software Group, backed by Valsoft, acquired Mirus, a Houston-based provider of restaurant analytics and data management software. Go deeper

🚑 NMS Capital acquired both Endoscopy Corp of America and Medical Optics from Probo Medical, forming a new surgical suite MRO platform called Asurgence Medical. Go deeper

🚑 Sheridan Capital Partners acquired PtEverywhere, a provider of practice management and payments software for outpatient physical therapy providers. Go deeper

• H.I.G. Capital sold Dallas-based IT services company General Datatech to Softcat (LSE: SCT) at a $1.05b enterprise value. Go deeper

• Main Capital Partners sold FleetGO, a Dutch logistics software platform, to Aptean. Go deeper

• Vue, a European cinema operator backed by Barings and Farallon, said it's exploring strategic alternatives, including a possible London listing. Go deeper

• The FTC requested more information on Fertitta Entertainment's proposed $5.7b acquisition of Caesars Entertainment (Nasdaq: CZR). Go deeper

• Tron Allen joined Gordon Brothers as a senior managing director. He previously was with Eclipse Business Capital. Go deeper

• Kiran Rao joined Vector Capital Management as a managing director and head of value creation. He previously was with Vista Equity Partners. Go deeper

• Rich Schainker joined Constitution Capital Partners as a managing director, with a focus on defined contribution activities. He previously was with WTW. Go deeper

• Stifel hired three venture bankers from SVB: Chris Morrison as head of Boston, Matt Scott as head of NYC, and Arianne Perry as head of NYC investor coverage. Go deeper

Pro Rata Premium: First Look

Illustration of ice cream cone with a $100 bill sticking out of the side.

<h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]">Venture Capital</h2>• Anew Labs, a Chinese AI drug-discovery spinout from ByteDance, raised $290m at a $1.5b valuation, per Reuters. HSG, IDG Capital and Hillhouse Investment led, joined by 5Y Capital, Gaorong Ventures, Primavera Venture Partners, and Boyu Capital. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://www.reuters.com/legal/transactional/bytedance-completes-290-million-fundraising-ai-drug-unit-after-its-spin-off-2026-09-16/" data-vars-content-id="dbea65ef-bdee-4d1b-b2f2-7d0348868a4b" data-vars-headline="Pro Rata Premium: First Look" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.reuters.com/legal/transactional/bytedance-completes-290-million-fundraising-ai-drug-unit-after-its-spin-off-2026-09-16/" target="_blank">Go deeper</a>• EnduroSat, a Bulgarian satellite manufacturer, raised $205m. Riot Ventures and Atreides Management led, joined by the European Innovation Council, GV, Founders Fund, and Lux Capital. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://spacenews.com/endurosat-raises-205-million-to-accelerate-satellite-production-in-us-and-europe/" data-vars-content-id="dbea65ef-bdee-4d1b-b2f2-7d0348868a4b" data-vars-headline="Pro Rata Premium: First Look" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://spacenews.com/endurosat-raises-205-million-to-accelerate-satellite-production-in-us-and-europe/" target="_blank">Go deeper</a>

Pro Rata Premium: First Look

Venture Capital

What to read next