Illustration: Maura Losch/Axios
Venture Capital
⚡️ Focused Energy, a German laser-fusion developer, raised $240m in Series A funding from RWE, the Federal Agency for Breakthrough Innovation SPRIND, the European Innovation Council Fund, and insider Prime Movers Lab. Go deeper
• Corgi, an insurance startup covering AI, raised $106m at a $2.6b valuation. TCV led, joined by Zone II Ventures, Oliver Jung, Leblon Capital, Kindred Ventures, Quadri, First Order Fund, Vocal Ventures, Nordstar, GSBackers, Repeat Ventures, and 8188 Capital. Go deeper
🚑 Garner Health, a platform for finding healthcare providers, raised $100m in Series E funding at a $2.76b post-money valuation. Index Ventures led, joined by Kleiner Perkins, Redpoint, Thrive, Sequoia, Founders Fund and Kaiser Permanente Ventures. Go deeper
• Observable Space, an LA-based laser satellite link developer, raised $90m from Lux Capital, Upfront Ventures, Detroit Venture Partners, Island Green Capital, RTX Ventures, BRV Capital, and Fathom Fund. Go deeper
• Reactor, an SF-based AI video platform, raised $59m. Lightspeed led, joined by WndrCo, Amplify Partners, Sky9 Capital, and FPV Ventures. Go deeper
• Gray Swan, a Pittsburgh-based AI security platform, raised $40m. Wing Venture Capital and Madrona led, joined by Obvious Ventures, Snowflake Ventures, Hudson River Trading, Samsung Next, and insider Magarac Venture Partners. Go deeper
🚑 H1, an NYC-based doctor connections platform, raised $40m led by CVS Health Ventures. Go deeper
⚡️ Utilidata, an Ann Arbor, Mich.-based AI developer for power infrastructure, raised a $40m Series C. Renown Capital Partners led, joined by Keyframe Capital. Go deeper
• Rep AI, an AI platform for e-commerce and online retailers, raised $6.2m. Silicon Road Ventures led, joined by Osage Venture Partners, Flashpoint Venture Capital, and Zendesk. Go deeper
• Modiqo, an SF-based AI agentic workflow developer, raised a $3m pre-seed round. Heavybit and Seligman Ventures, joined by Irregular Expressions and angel investors. Go deeper
⚡️Volt Harbor, an Ann Arbor, Mich.-based energy storage systems supplier, raised $2m in seed funding led by MFV Partners.
Private Equity
🚑 Align Capital Partners acquired Heritage Imaging, a Boise, Idaho-based provider of mobile diagnostic imaging services to hospitals and health care facilities. Go deeper
• Axum Capital Partners invested in VitaHustle, a better-for-you nutrition line co-founded by Kevin Hart and Ron Everline. Go deeper
• Puget Collision, backed by Eagle Merchant Partners, acquired a Fix Auto USA franchise with locations across San Diego and Orange Counties, Calif. Go deeper
Liquidity
• PetIQ, a Bansk Group portfolio company, sold its VIP Petcare veterinary services business to Tractor Supply Co. (Nasdaq: TSCO). Go deeper
• Rosebank Industries (LON: ROSE) acquired MW Components, a manufacturer of specialty fasteners, springs, and precision metal components, for $950m from American Securities. Go deeper
• Spark Harbor, an operator of franchised youth activity brands, acquired Bach to Rock, a music school franchise, from Cambridge Information Group. Go deeper
M&A
⚡️Volara Motorsports Group, an Austin, Texas-based motorsports holding company, acquired Lynx Motor Works, an Austin-based supercar manufacturer, including EV retrofits. Go deeper
Public Offerings
• Apotex, a Canadian generic drugmaker, filed for a domestic IPO. SK Capital Partners backs the firm. Bloomberg previously reported it could seek to raise between C$750m ($544m) to C$1b. Go deeper
• Entrata, a Lehi, Utah-based provider of multifamily rental management software, filed for an IPO that Renaissance Capital estimates could raise $500m. It plans to list on the NYSE (ENT), and is backed by Silver Lake, TPP, HGGC, and Dragoneer. Go deeper
Fundraising
⚡️Actis, a sustainable infrastructure investor owned by General Atlantic, raised $2.5b in a first close of a targeted $6b flagship energy fund. Go deeper
⚡️NextEnergy Capital, a U.K.-based energy investment firm, raised $974m for a solar- and storage-focused fund. Go deeper
It's Personnel
• Barry Hurewitz was promoted from president to CEO of Enquire, succeeding founder Cenk Sidar. Go deeper
• Michele Griffin joined Lightning Capital as a partner and COO. She previously was with a16z. Lightning is in market with a $100m-targeted second fund. Go deeper
• Tikehau Capital promoted Guillaume Arnaud to head of France and deputy CEO. Go deeper
