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💊 Varda Space, an El Segundo, Calif.-based orbital drug manufacturer, raised $251m in a Series D. Lux Capital and Natural Capital led, joined by Founders Fund, Khosla Ventures, Caffeinated Capital, General Catalyst, 8090 Industries, Giant Step, and Also Capital. Go deeper

• CScale, a Palo Alto, Calif.-based optical interconnect technology developer, raised $145m in Series C funding from Atreides Management, Valor Equity Partners, Premji Invest, Sutter Hill Ventures, Maverick Silicon, Nvidia, and Intel Capital. Go deeper

💊 AnaCardio, a Stockholm-based heart failure biotech, raised €62.5m in Series B funding led by Novo Holdings and the Ljungström family office. Go deeper

• Relay, a Raleigh, N.C.-based smart radio startup, raised $36m. International Paper led, joined by Cerity Partners Ventures and G2 Ventures. Go deeper

• Restate, a German durable execution infrastructure startup, raised $20m. Singular led, joined by Redpoint Ventures and Capital One Ventures. Go deeper

🌎 ArkeaBio, a Boston-based developer of a vaccine to cut livestock methane emissions, raised $15m in Series A extension funding. AgriZeroNZ led, joined by Breakthrough Energy. Go deeper

💊 Skopos Bio, an Australian cancer biotech, raised A$12m in seed funding from Tenmile, Tin Alley Ventures, and Yosemite. Go deeper

💊 Astrocyte Pharmaceuticals, a Groton, Conn.-based cerebroprotective therapy biotech, raised $9.5m in Series B funding. DeepWork Capital led, joined by MintPharma Capital, Waterstar Capital, Dynagrow Capital, and Angel Star Ventures. Go deeper

• Destro AI, a Brooklyn-based shared intelligence layer for warehouse robotics, raised $8m in seed funding. Base10 Partners and Bonfire Ventures led, joined by CoFound Partners. Go deeper

• Charter Space, an El Segundo, Calif.-based space insurance startup, raised $5m in seed funding. Crystal Venture Partners led, joined by QED, Blank Ventures, Gaingels, and Hustle Fund. Go deeper

🌎 Food Founders, a Swiss foodtech venture studio, raised €4m from family offices and angels. Go deeper

• Blackswan Space, a Lithuanian maker of mission design simulator software, raised €2.5m led by Iron Wolf Capital. Go deeper

💊 R1 Therapeutics, a Redwood City, Calif.-based kidney disease biopharma, raised $3m in Series A extension funding from Samsara BioCapital. Go deeper

• AGS American Glass Services, a portfolio company of The Sterling Group, acquired Mark Industries, an Elgin, Ill.-based commercial glazing contractor. Go deeper

• Blue Sage Capital invested in Clean Team, a Toledo, Ohio-based provider of commercial janitorial and facilities-cleaning services. Go deeper

• EMS, a Wynnchurch Capital portfolio company, acquired AMD Supply, a Deerfield Beach, Fla.-based distributor of fencing, hurricane shutters, and aluminum products. Go deeper

⚡️ Fusion Capital Partners acquired Pioneer Power Group, a Rockville, Md.-based electrical power systems study company. Go deeper

• KKR agreed to acquire a majority stake in Cisternina Logistics Private, an Indian bulk liquid and gas storage and logistics business. Go deeper

• Spectrotel, backed by Charlesbank Capital Partners and Grain Management, completed its acquisition of AireSpring, a Clearwater, Fla.-based provider of connectivity, managed services and network infrastructure solutions. Go deeper

• TRG, a managed services provider backed by Gemspring Capital, acquired Westerville, Ohio-based cybersecurity and advisory firm Fentron. Go deeper

• ElevenLabs, a London-based AI voice startup, completed a $300m employee tender offer at a $22b valuation. Wellington and T. Rowe Price led, joined by a16z, Lightspeed Venture Partners, EQT and Goldman Sachs. Go deeper

🚑 IDEXX Laboratories (Nasdaq: IDXX) acquired CoVetAI, a Canadian provider of ambient listening and clinical workflow software for veterinary practices. Sellers include Chicago Pacific Founders. Go deeper

🚑 Sycamore Partners is in talks to sell U.K. pharmacy chain Boots for close to $9b (including debt) to the Canadian arm of the Weston Family, per the WSJ. It had taken it private as part of the $24b Walgreens deal. Go deeper

• BHAV Acquisition II, a SPAC led by reAlpha Tech founder Giri Devanur, filed for a $150m IPO. Go deeper

• Deutsche Lufthansa and Air France-KLM submitted sweetened final bids for a stake in Portuguese airline TAP, per Bloomberg. Go deeper

• TPG raised $10b for a second private equity fund dedicated to climate strategies, per Bloomberg. Go deeper

💊 Hatteras Venture Partners, a North Carolina life sciences VC firm, is raising a $100m fund. Go deeper

💊 Jiangsu Enhua Pharmaceutical, a Chinese CNS pharma company, agreed to pay $10.5m upfront and up to $507m to Somnivera for developing a sleep disorder drug. Go deeper

⚡️The U.S. Nuclear Regulatory Commission awarded a construction permit to the Tennessee Valley Authority to begin building the country's first commercial small reactor, a 300 MW GE Vernova Hitachi system near Oak Ridge, Tenn. Go deeper

⚡️Harbinger Motors, a Garden Grove, Calif.-based manufacturer of medium-duty electric trucks, received a $300m, 2,000-vehicle order from investor FedEx. Go deeper

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<h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]">Venture Capital</h2>💊 Varda Space, an El Segundo, Calif.-based orbital drug manufacturer, raised $251m in a Series D. Lux Capital and Natural Capital led, joined by Founders Fund, Khosla Ventures, Caffeinated Capital, General Catalyst, 8090 Industries, Giant Step, and Also Capital. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://www.reuters.com/legal/transactional/varda-raises-250-million-16-billion-valuation-scale-orbital-drug-manufacturing-2026-09-30/" data-vars-content-id="d8af1ac0-8e2f-4872-ba6f-ba0f3d782457" 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/varda-raises-250-million-16-billion-valuation-scale-orbital-drug-manufacturing-2026-09-30/" target="_blank">Go deeper</a>• CScale, a Palo Alto, Calif.-based optical interconnect technology developer, raised $145m in Series C funding from Atreides Management, Valor Equity Partners, Premji Invest, Sutter Hill Ventures, Maverick Silicon, Nvidia, and Intel Capital. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://gamesbeat.com/cscale-comes-out-of-stealth-with-145m-to-build-interconnect-for-gigawatt-scale-ai/" data-vars-content-id="d8af1ac0-8e2f-4872-ba6f-ba0f3d782457" 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://gamesbeat.com/cscale-comes-out-of-stealth-with-145m-to-build-interconnect-for-gigawatt-scale-ai/" target="_blank">Go deeper</a>

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