Illustration: Brendan Lynch/Axios. Stock: Getty Images
Venture Capital
• Reverion, a German developer of carbon-negative power plants, raised $175m in Series B funding. Kembara led, joined by Allianz, KfW Capital, Aurum Impact, and Carbon Equity. Go deeper
• Homeward, an Austin, Texas-based cash-back real estate financing company, raised $120m in Series D funding. Saluda Grade led, joined by Continental General Insurance Co., Citi Ventures, Magnetar, Harmony Partners, Norwest, Adams Street Partners, LiveOak Ventures, Parker89, Era Ventures, and Javelin Venture Partners. Go deeper
💊 TriGemX Bio, a NYC-based developer of migraine treatments, raised $94m from The Column Group, TCGX, and Viking Global Investors. Go deeper
• Volantis, a SF-based inference semiconductor company, raised $88m in Series A funding. Lachy Groom and Abstract Ventures led, joined by John Doerr, VXI Capital, Triatomic, Susa Ventures, Dwarkesh Patel, Naveen Rao, and Sholto Douglas. Go deeper
• Fortem Technologies, a Lindon, Utah-based airspace security company, raised $50m in Series B funding. Lockheed Martin led, joined by Unusual Machines. Go deeper
• Halluminate, an SF-based developer of AI training environments for financial work, raised $30m in Series A funding. Oak HC/FT led, joined by YC, Orange Collective, FT Partners, and HeavyBit. Go deeper
⚡️Laki Power, an Icelandic developer of grid monitoring sensors, raised €6m in Series A funding. NATO Innovation Fund led, joined by ReykVC. Go deeper
• Walapay, an NYC-based payments infrastructure startup, raised $4.6m in seed funding. Generative Ventures led, joined by Commerce Ventures, Polygon, Verda Ventures, NGC Ventures, FGV Capital, AAF, Jsquare, Knollwood, and Big Brain Holdings. Go deeper
• Photon, a startup that connects agents to apps, raised $4.5m. Gradient and A* led, joined by Vercel, HongShan, Z Fellows, Llama Ventures, and Karman. Go deeper
• Voltaback, a French provider of fleet management software, raised €2.8m led by Serena. Go deeper
Private Equity
• Blackstone launched Falcata, a defense technology company formed through the acquisition of TSC and Applied Systems Engineering, committing more than $1b in debt and equity. Go deeper
• CVC, Blackstone, and BAE Systems (LON:BAES) are among those exploring an offer for Robin Radar Systems, a Netherlands-based group backed by Parcom. A deal could value it at about $2.2b. Go deeper
• Door & Window Guard Systems, owned by The Riverside Co., acquired Empty Building Security, an East Orange, N.J.-based installer and renter of steel door and window security panels. Go deeper
• KKR completed its $500m purchase of a 51% stake in the global print business of Thomson Reuters (NYSE: TRI). Go deeper
• Nearly Natural, backed by Centre Partners, acquired Modernized Pottery, a line of 3D-printed, eco-friendly planters and related home décor. Go deeper
• Warner Pacific, backed by Lovell Minnick Partners, acquired Beere&Purves, a California-based general agency for benefits brokers. Go deeper
Liquidity
• CertifID, a VC-backed real estate fraud prevention platform, acquired Closinglock, an Austin, Texas-based escrow management platform for real estate that had raised around $50m from firms like Live Oak Ventures, Headline, RWT Horizon, and Sageview Capital. Go deeper
• Yext (NYSE: YEXT) agreed to acquire Flamel.ai, a platform for brands to run localized paid campaigns. Flamel backers include Cintrifuse Capital, Keyhorse Capital, Allos Ventures, Dundee Venture Capital, and Elevate Ventures. Go deeper
M&A
• Authentic Brands Group is weighing a $6b+ takeover bid for Mattel (NYSE: MAT), per the WSJ. Go deeper
It's Personnel
• Hernan Cristerna is retiring at year-end as executive chairman of global investment banking and M&A at JPMorgan, per Reuters. Go deeper
