Illustration: Aïda Amer/Axios
Venture Capital
• Apex, a Los Angeles-based satellite maker, is in talks to raise $500m at a $4b valuation, per Bloomberg. Washington Harbour Partners is set to lead the round, joined by Andreessen Horowitz and XYZ Venture Capital. Go deeper
• Xona, a Burlingame, Calif.-based satellite navigation developer, raised a $250m Series D led by Future Ventures at a $2.45b valuation. Go deeper
🚑 Warp Sciences, a Cambridge, Mass.-based chemistry CRO, raised $215m. Lightspeed led, joined by Premji Invest, Mayfield, IVP, Lux, Conviction, Menlo Ventures, 01 Advisors, Standard, Lowercarbon Capital, Gigascale Capital, Angular Ventures, Scribble Ventures, Uncork Capital, Innovation Endeavors, Matter VP, Zero Shot Fund, SignalFire, and Moxxie Ventures. Go deeper
• Tractian, an Atlanta-based AI platform for asset-heavy industries, raised $130m in Series D funding at a $1.4b valuation. Sapphire Ventures and M&G's Catalyst led, joined by N47, General Catalyst, Bosch Ventures, 53 Stations, Monashees, Endeavor Catalyst, Norte Ventures, and Y Combinator. Go deeper
• Mave, an Israeli agentic security operations platform, raised a $6m seed round led by Dell Technologies Capital and Emerge Ventures. It also raised a $28m Series A round led by Red Dot Capital Partners, joined by Lumir Growth Partners. Go deeper
• Modelyo, an Israeli data security startup, raised $17m in a round led by OlivTree. Go deeper
• Indurex, an Israeli industrial cybersecurity company, raised €7m. Contrarian Ventures led, joined by Aceleo Capital and Curiosity. Go deeper
• Marc, an NYC-based real estate spend intelligence platform, raised a $5m seed round. Work-Bench and MXV Capital led. Go deeper
🚑 Emerald, a London-based preventive health care platform, raised €1.7m. Innovate UK led, joined by Sequel and Highgoal. Go deeper
Private Equity
• Aeromax Group, backed by Chimney Rock Equity Partners, acquired Loutech, a manufacturer of precision aerospace machined components. Go deeper
🚑 Appasamy Associates, backed by Warburg Pincus, acquired German ophthalmic surgical equipment maker RUCK. Go deeper
• Fengate Asset Management agreed to invest in Pilot Fiber, an enterprise connectivity provider in the New York metro area, and fund its acquisition of Boldyn Networks' New York and New Jersey fiber network. Go deeper
🚑 LGM Pharma, backed by New Harbor Capital, acquired Sannova Analytical, a Somerset, N.J.-based contract research lab. Go deeper
• Paine Schwartz Partners invested in First Day Life, an Austin, Texas-based maker of branded vitamins and supplements. Go deeper
• Port Jersey Logistics Network, a portfolio company of Maxwell Street Capital Partners, acquired Fond du Lac, an Edison, N.J.-based provider of transportation services to wine, spirits, and specialty food customers. Go deeper
🚑 Real Diagnostics, backed by HCAP Partners, acquired SimplyTest, a provider of saliva-based diagnostic tests. Go deeper
• Sequoia Financial Group, backed by Kudu Investment Management and Valeas Capital, acquired Quish, a Boulder, Colo.-based family office and wealth management firm. Go deeper
• Stonepeak acquired Chicago Parking Meters, operator of Chicago's on-street parking system, from Morgan Stanley Infrastructure Partners, Allianz, and Abu Dhabi Investment Authority. Go deeper
• Tide Rock acquired Electro-Spec, a specialty plating and surface finishing company serving aerospace, defense, medical, and nuclear markets. Go deeper
Liquidity Events
🚑 Ares Management is seeking to sell medical group Duly Health and Care, which it acquired for $1.45b in 2017, per 9fin. Go deeper
• Bose acquired Skullcandy, a headphone and audio technology brand, from Mill Road Capital. Go deeper
More M&A
• Celltrion, a South Korean biotech, licensed a preclinical autoimmune antibody from Maryland-based Kaigene in a deal worth up to $580.5m. Go deeper
🚑 Redesign Health, a health care-focused VC firm, acquired ARC Global, a health care transformation company founded at Israel-based Sheba Medical Center. Go deeper
⚡️ Shell and ExxonMobil (NYSE: XOM) hired BofA to sell Infineum, a chemicals JV that could fetch around $8b, per the FT. Go deeper
• Skydance (NYSE: SKYD) raised $1b from Elon Musk as part of a larger investment round that includes equity investments from Skydance's other investors, including board member Laurene Powell Jobs, per Semafor. Go deeper
Public Offering
• David's Bridal plans to spin off and take public Pearl, its AI-based wedding planner, at a $350m valuation. Go deeper
Fundraising
• Seaya raised €600m for a fund focused on European startups. Go deeper
It's Personnel
• Matthew Kaness, former CEO of Modcloth and GoodwillFinds, joined venture firm Canaan Partners as an advisor. Go deeper
• Stephanie Zhan, a partner at Sequoia Capital, is launching her own early-stage AI fund. Go deeper
