Illustration: Maura Losch/Axios
Venture Capital
• ASI, a Boston-based AI startup "orchestrating critical infrastructure and national security," raised $325m at a $3b valuation. Spark Capital led, joined by Citadel Securities, Meritech Capital, and Craft Ventures. Go deeper
• Reliable Robotics, a Mountain View-based developer of an autonomous flight system, raised $90m in Series D extension funding. Nimble Partners led, joined by Gideon Strategic Partners, RockCreek, Geek Ventures, Gold Hill Capital, and Sparkwave Capital. It also secured $25m in debt from SVB. Go deeper
• Daytona, an SF-based developer of cloud infrastructure for AI agents, raised $60m in Series B funding at a $1b valuation led by FirstMark. Go deeper
• Different, an SF-based AI marketing startup, raised $48m in seed funding. General Catalyst led, joined by Lightspeed. Go deeper
• Mural, an NYC-based system-of-record for fintechs, raised $15m in Series A funding. Tether led, joined by North Island Ventures. Go deeper
• Electric Plant Co., an SF-based plant sensor startup, raised $11.2m. Onto Ventures and Climactic led, joined by Ponderosa, Endeavor Catalyst, Ludlow, Michigan Rise, The Fund, Schox VC, and Dug Song. Go deeper
⚡️ Veckta, a San Diego-based onsite solar and battery software startup, raised $11m. Origin Ventures led, joined by Tech Square Ventures, VoLo Earth Ventures, Cove Fund, Catalyst by Wellstar, Engage, Emerald Bay Ventures, She's Independent Investments, and Mobilize AI x Energy Ventures. Go deeper
• Asymptote Labs, an NYC-based agentic infrastructure developer, raised $5.5m in seed funding. Tower Research Ventures led, joined by Lytical Ventures, 1984 Ventures, and South Park Commons. Go deeper
🚑 Vinyl Health, a Marlton, N.J.-based AI personal health assistant, raised a $2m seed round led by HealthX Ventures. Go deeper
Private Equity
🚑 Apogem Capital acquired a minority stake in Family Care Center, a Denver-based provider of outpatient mental health services that's backed by Revelstoke Capital Partners. Go deeper
• Argentum Capital Partners invested in Truck Parking Club, a Ringgold, Ga.-based platform for finding tractor-trailer parking. Go deeper
• AEA Investors and British Columbia Investment Management acquired Rensa Filtration, an Aurora, Ill.-based maker of air filtration solutions, from Audax Private Equity. Go deeper
• Canaccord Genuity (TSX: CF) is in talks to sell its U.K. wealth management business to a consortium led by Centerbridge Partners and Mubadala for around $1.3b, per Bloomberg. Go deeper
🚑 Hologic, backed by Blackstone, agreed to acquire Reveal Genomics, a Barcelona-based oncology diagnostics company. Go deeper
• Legendary Entertainment, backed by Apollo, submitted a takeover offer for Lionsgate Studios (NYSE: LION), per Bloomberg. Go deeper.
• Morgan Stanley Capital Partners acquired The Rapid Group, a Paterson, N.J.-based provider of inspection, repair and maintenance services for rotating equipment. Go deeper
Liquidity Events
🚑 Azra AI, a VC-backed care management platform, acquired Blackford Analysis, a Scottish medical imaging software provider, from Sopris Capital. Go deeper
• Blackstone and Warburg Pincus are exploring a sale of fintech IntraFi, with Morgan Stanley and Guggenheim advising, per Reuters. Go deeper
💊 TriGemX Bio, a New York-based migraine biotech, agreed to go public via a merger at a $600m valuation via a merger with TCGX Acquisition Corp. (Nasdaq: TCGX). TriGemX has raised over $500m from firms like Lux Capital, Polaris Partners, The Column Group, TCG Crossover Management, and Viking Global Investors. Go deeper
More M&A
💊 Ambrose Healthcare bought Dutch biotech AM-Pharma for up to €161m. Go deeper
• CBRE (NYSE: CBRE) agreed to buy Onnec Group, a London-based data center infrastructure firm, for upwards of $1.1b (including $610m upfront cash). Go deeper
🚑 Experian (LSE: EXPN) acquired eInsights, a Westport, Conn.-based insurance discovery technology company. Go deeper.
• Fura, a Frisco, Texas-based freight broker, acquired Road Dog Logistics, a Cincinnati-based truckload brokerage. Go deeper
🚑 Labcorp (NYSE: LH) agreed to buy the prenatal health testing business of Myriad Genetics (Nasdaq: MYGN) for $210m in cash. Go deeper
Public Offerings
💊 Lycia Therapeutics, an SF-based biotech targeting disease-causing extracellular proteins, set IPO terms to 14.7m shares at $16-18. It would have a $950m valuation at the midpoint and plans to list on the Nasdaq (LYCA). The Phase 1 company has raised over $330m from firms like Versant Ventures, Venrock, Redmile, RTW Investments, Janus Henderson, Blue Owl, Balyasny Asset Management, Adage Capital Management, HBM Healthcare Investments, OrbiMed, Eli Lilly, Franklin Templeton, and Invus. Go deeper
It's Personnel
• Nicole Vipperman joined GenNx360 Capital Partners as chief compliance officer. She previously was with TGM. Go deeper
Editor's note: This story has been corrected to note that Daytona is based in San Francisco (not New York City).
