Photo illustration: Greg Ruben/Axios
Venture Capital
• Bedrock Robotics, an SF-based autonomous construction equipment developer, raised $600m in Series C funding at a $4.1b post-money valuation. CapitalG and Emergence Capital led, joined by US Innovative Technology Fund, Bessemer Venture Partners, Temasek, 8VC, Georgian, Valor Equity Partners, Xora, Eclipse, Perry Creek Capital and NVIDIA. Axios Pro Flashback
• Nevis, an NYC-based wealth management operating system, raised a $70m Series B. EQT Ventures led, joined by Charles Schwab, QuantumLight, Sequoia Capital, ICONIQ, and Ribbit Capital. Go deeper
💊 Hexagon Bio, a Menlo Park, Calif.-based biopharmaceutical startup, raised $62m in Series C funding. The Column Group led, joined by Nextech Invest, Deviation Capital, 8VC, and CPP Investments. Go deeper
• North Vector Dynamics, a Canadian counter-drone missile interceptor developer, raised more than $20m in Series A funding at an over $90m valuation. Tech Horizons led, joined by ONE9, Garage Capital, CSG, Ripple Ventures, Feld Ventures and Conconi Growth Partners. Go deeper
🚑 Clinics on Cloud, an Indian-based health kiosk company, raised $12.6m from Dubai-based Model42 at a $63m valuation. Go deeper
🚑 CureBay, an Indian e-clinic startup, has raised $11m in a pre-Series C funding round led by IvyCap Ventures. Go deeper
🚑 Adsilico, a British developer of virtual-patient simulations for medical-device testing, raised £10m in Series A funding. PXN Ventures led, joined by Northern Gritstone and Parkwalk. Go deeper
• Matiks, an Indian puzzle games startup, raised $10m. General Catalyst led, joined by insiders Info Edge Ventures, Tanglin Venture Partners, and Untitled Ventures. Go deeper
🌎 Volare, an insect-protein producer, raised €7.1m from investors including Maki.vc. Go deeper
⚡️ Cambridge Heavy Industries, a Cambridge, Mass.-based fusion developer, emerged from stealth with $6.2m in seed funding. Azolla Ventures led, joined by Overlay, the Mass Clean Energy Center, Neta Foundation, the Rothrock family, and P3A. Go deeper
• Cantilever Group made a minority equity investment in Ghost Tree Partners, a private credit investment firm for lower middle-market companies. Go deeper
🌎 Pythag Tech, an NYC-based tech developer for cultivated-meat production, raised $4.3m in seed funding. Azolla Ventures led, joined by Endurance28. Go deeper
🌎 Epoch, a London startup tracking import emissions, raised $4.3m in seed funding led by Burnt Island Ventures and Sand River. Go deeper
• Colare, an SF-based engineering talent vetting startup, raised a $2.5m pre-seed round from Afore Capital, Garage Capital and Acadian Ventures. Go deeper
Private Equity
• Bertram Capital acquired Motion & Control Enterprises, a Zelienople, Pa.-based provider of flow control and hydraulic products, from Frontenac. Go deeper
• Commercial Bakeries, a Graham Partners portfolio company, acquired Partners, a Des Moines, Wash.-based maker of crackers and baked goods. Go deeper
🚑 Francisco Partners completed its $650 million acquisition of Weave Communications, a Utah-based patient engagement and patient platform. Go deeper
• Kennedy Lewis acquired Roadsurfer, a Munich-based camper van rental company. Go deeper
• L Catterton invested in Glance, an agentic shopping platform owned by Singapore's InMobi. Go deeper
• Team Partners recapitalized Pie Tap, a Dallas-based Italian restaurant chain with seven locations. pie-tap.com
Liquidity
• Acuity (NYSE: AYI) agreed to acquire Parameter Technologies, a Fort Collins, Colo.-based developer of leak detection and monitoring for data centers and critical infrastructure, for $675m. May River Capital backs Parameter. Go deeper
• Clio, a Canadian legal tech startup, acquired Washington, D.C.-based Page, a government relations and regulatory intelligence platform backed by Canaan Partners, GoGlobal Ventures, Twelve Below, Garage Capital, and Ripple Ventures. Go deeper
• Unconventional AI, a Mountain View, Calif.-based chip designer, acquired Israeli inference optimization startup NeuReality, backed by Arm, Samsung Ventures, Varana Capital, Cleveland Avenue and OurCrowd. Go deeper
M&A
• Evertrace, a Danish founder-detection platform, acquired Veck, a startup-discovery platform for early-stage investors. Go deeper
Public Offerings
🚑 Aspen Neuroscience, a San Diego-based developer of stem cell therapies for Parkinson's disease, set IPO terms to 9.4m shares at $15-17. It would have a $494m fully diluted market cap at the midpoint and plans to list on the Nasdaq (ASPE). The Phase 1 biotech has raised $380m from OrbiMed (13.1% pre-IPO stake), Arch Venture Partners (12.3%), Gilead Sciences (8.4%), Frazier Life Sciences (6.8%), QIA (6.8%), ADIA (6.6%), Medical Excellence Capital (5.5%), Revelation Partners, S32, Axon Ventures, Lyfe Capital, and LifeForce Capital. Go deeper
🚑 Bambusa Therapeutics, a Boston-based developer of bispecific antibodies for inflammatory diseases, set IPO terms to 9.4m shares at $15-17. It would have an $837m fully diluted value at the midpoint, and plans to list on the Nasdaq (BBTX). The Phase 2 biotech has raised $142m from firms like Salvia (24.3% pre-IPO stake), RA Capital (11.3%), BVF (8.1%), Dawn Biopharma (6.2%), Redmile Group, and Invus Group. Go deeper
It's Personnel
⚡️ Aruna Ramsamy joined Clean Energy Ventures, a Boston- and London-based climate-focused venture firm, as managing partner. Ramsamy was venture partner at Extantia. Go deeper
