Illustration: Tiffany Herring/Axios
Venture Capital
• Quince, a direct-to-consumer online fashion retailer, is raising about $200m at a $4.5b valuation, per Bloomberg. Go deeper
• Teramount, an Israeli optical connectivity company, raised $50m. Koch Disruptive Technologies led, joined by Grove Ventures, AMD Ventures, Hitachi Ventures, Samsung Catalyst Fund, and Wistron. Go deeper
🌎 4AG Robotics, a Canadian mushroom harvesting robotics startup, raised $40m in Series B funding. Astanor and Cibus Capital led, joined by Voyager Capital, InBC, Emmertech, BDC Industrial Innovation Fund, Jim Richardson Family Office, Stray Dog Capital, and Seraph Group. Go deeper
🚑 Small Door Veterinary, a membership-based veterinary care company, raised $35m in equity funding. Valspring Capital led, joined by Primary Venture Partners, C&S Family Capital, Lerer Hippeau, and Toba Capital. It also secured $20m in debt from Bridge Bank. Go deeper
• Sparrow, an SF-based employee leave management startup, raised $35m in Series B funding led by Silver Lake Waterman. Go deeper
🚑 Arbital Health, an SF-based provider of health care payments solutions, raised $31m in Series B funding. Valtruis led, joined by Transformation Capital, Shaper Capital, and Healthy Ventures. Go deeper
• Multibeam, a Santa Clara, Calif.-based process control startup for semiconductors, raised $31m in Series B funding. Onto Innovation and Lam Capital led, joined by UMC Capital and MediaTek Capital. Go deeper
• LakeFS, a version control system for enterprise data, raised $20m led by Maor Investments, with participation from Dell Technologies Capital, Norwest, and Zeev Ventures. Go deeper
• Hightouch, an SF-based data and AI agent platform for marketers, raised $12m in Series C funding from Snowflake and Capital One. Go deeper
• Caspian, an SF-based customs compliance startup, raised $5.4m in seed funding. Primary Venture Partners led, joined by Blank Ventures. Go deeper
Private Equity
• Integrated Diagnostic Services, an HCAP Partners portfolio company, acquired mobile imaging services provider Community of Nevada Diagnostics. integrateddxservices.com
• SES, a Palladium Equity portfolio company, acquired Hydroblasters, a Wisconsin-based provider of industrial services. sesinc.com
• TriWest Capital Partners acquired Canadian retailer Spence Diamonds from Lion Capital. Go deeper
Public Offerings
• WhiteFiber, a Bit Digital (Nasdaq: BTBT) carveout that provides cloud services to data centers, set IPO terms to 7.8m shares at $15-$17. It would have a $558m fully diluted value, were it to price in the middle. Go deeper
M&A
⚡️ Spire, a St. Louis-based gas utility, plans to acquire the Tennessee local distribution business of Duke Energy subsidiary Piedmont Natural Gas for $2.48b. Go deeper
⚡️ Uplight, a Boulder, Colo.-based distributed energy resource management provider, is working with Evercore to find a buyer for around $1b, per Latitude Media. Go deeper
Fundraising
• Deciens Capital, an early-stage fintech investor, raised $93.3m for its third fund. Go deeper
Odds & ends
• Companies backed by Centre Lane Partners reportedly sought to lobby President Trump by pitching pro-Trump merchandise, including a MAGA-emblazoned Instapot. The Instapot idea was shelved amid copyright concerns, per the New York Times. Go deeper
⚡️ Lucid Motors, a Newark, Calif.-based EV maker, said actor Timothée Chalamet will be its first global brand ambassador. Go deeper
