M&A
Invoice and payment automation software provider Paymerang bought two corporate-backed companies for undisclosed amounts. They are KwikTag, a US-based document management platform backed by computer hardware manufacturer HP, and Sypht, an Australian developer of artificial intelligence-equipped data analysis technology that counts professional services firm Boston Consulting Group among its investors.
Arch Insurance, a subsidiary of insurer Arch Capital Group, paid an undisclosed sum to acquire Thimble, a US-based small business insurance provider backed by air carrier carrier Irelandia Aviation, online media group IAC and insurance firms MS&AD and Axa. Thimble had raised a total of over $28m as of a $22m series A round backed by IAC and corporate venture capital fund Axa Venture Partners in 2019.
Genetic engineering technology provider Ginkgo Bioworks acquired US-based cell therapy developer StrideBio for an undisclosed amount, allowing life sciences-focused real estate investment trust Alexandria Real Estate Equities and pharmaceutical firms Sarepta Therapeutics, UCB, Takeda and Novo to exit. All the corporates were part of an $81.5m series B round in early 2021 which pushed StrideBio’s overall funding past $98m.
Financial holding firm Credicorp purchased Joinnus, the Peruvian operator of an online event ticketing platform, for an undisclosed sum, providing exits for telecommunications group Telefónica and media conglomerate Grupo RPP.
WeMakePrice, a South Korea-based social commerce platform with investors including entertainment software provider Nexon, was acquired by ecommerce portal operator Qoo10 for an undisclosed amount.
Funding
Internet and technology group Alphabet’s CapitalG subsidiary added $100m to a series D round for US-based market intelligence provider Alphasense, increasing it to $325m. The round values Alphasense at $1.8bn and the June 2022 first close was co-led by Goldman Sachs Asset Management’s Growth Equity business and Viking Global Investors with debt financing from funds and/or accounts managed by BlackRock.
Food and beverage conglomerate Nestlé paid almost €215m ($235m) for a 49.95% stake in Yfood, a Germany-based drink-and-powder meal replacement brand, TechCrunch reported. The deal involved Yfood backers including dairy producer Fonterra, Felix Capital and Five Seasons selling their shares to the corporate, according to filings seen by TechCrunch.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| ID.me | Digital identity network operator | IT | US | D | 132 | 12/04/2023 | Alphabet (CapitalG); Viking Global Investors (lead), Morgan Stanley (Morgan Stanley Counterpoint), FTV Capital, PSP Growth, Auctus Investment Group, Moonshots Capital, Scout Ventures |
| Dunzo | Quick delivery ecommerce platform | Consumer | India | N/A | 75 | 06/04/2023 | Reliance Industries (Reliance Retail), Alphabet (Google); unnamed existing investors |
| Gigstreem | Commercial broadband network provider | Telecoms | US | N/A | 59 | 10/04/2023 | Essex Property Trust, UDR; Crestline Investors, RET Ventures |
| LeeKr Technology | Smart chassis system developer | Transport | China | B | 58.2 | 06/04/2023 | Hozon Auto (Neta Capital), BAIC Group (BAIC Capital), FAW Group; CAS Investment (co-lead), Leaguer Capital (co-lead) |
| EnergyX (Energy Exploration Technologies) | Developer of sustainable lithium extraction process | Energy and Natural Resources | US | B | 50 | 11/04/2023 | General Motors (GM Ventures) (lead); unnamed other investors |
| Recuro Health | Virtual healthcare provider | Healthcare | US | B | 47 | 11/04/2023 | Flippen Group; Arch Venture Partners, Green Park & Golf Ventures, 4D Capital, unnamed others |
| Alice Technologies | Construction operations management platform | IT | US | B | 47 (updated) | 12/04/2023 | Swire Properties, Bouygues Telecom, Bouygues Construction (Bouygues Travaux Publics)/Sir Robert McAlpine/VolkerWessels (VolkerFitzpatrick) (Align JV), Hawaiian Dredging Construction Company, Implenia, JLL (JLL Spark); Vanedge Capital, Gaingels, Grids Capital, MetaPlanet, Future Ventures, Merus Capital, Rising Tide (equity); Bridge Bank (debt) |
| Sei Labs | Open-source blockchain optimisation platform | IT | US | N/A | 30 | 11/04/2023 | Jump Trading (Jump Crypto), Flow Traders, Bixin (Bixin Ventures); Distributed Global, Multicoin Capital, Asymmetric Capital, Hypersphere Ventures, |
| Oshi Health | Digital gastrointestinal care provider | Healthcare | US | B | 30 | 11/04/2023 | Koch Industries (Koch Disruptive Technologies) (lead), CVS Health (CVS Health Ventures), Takeda (Takeda Digital Ventures); Flare Capital Partners, Bessemer Venture Partners, Frist Cressey Ventures |
| Mayhem Studio | Video game development subsidiary of Mobile Premier League | Media | India | A | 20 | 11/04/2023 | Truecaller; Sequoia Capital (lead), Steadview Capital, Bing Gordon |
| NetBox Labs | Network management and automation software provider | IT | US | A | 20 | 11/04/2023 | IBM, Salesforce (Salesforce Ventures); Flybridge Capital (lead), GGV Capital, Mango Capital, Two Sigma Ventures, Founder Collective, Entrée Capital, Raj Dutt |
| MindX | Online coding education platform | Services | Vietnam | B | 15 | 12/04/2023 | Aksorn, Mynavi; Kaizenvest (lead), Wavemaker Partners |
| ImmuneBridge | Natural killer cell-based immunotherapy developer | Healthcare | US | Seed | 12 | 12/04/2023 | Merck Group (M Ventures) (co-lead); Insight Partners (co-lead), One Way Ventures, Gaingels |
| Prophet Exchange | Peer-to-peer sports betting exchange | Media | US | N/A | 10 | 12/04/2023 | Mixi, Ninjabe, Chicago Trading Company |
| CTRL Therapeutics | Cellular tumour therapy developer | Healthcare | Canada | Seed | 10 | 11/04/2023 | Intermountain Healthcare; General Catalyst (lead), Facit, unnamed other investors |
| MedArrive | Home healthcare management platform | Healthcare | US | N/A | 8 | 11/04/2023 | Blue Cross and Blue Shield of Kansas City (Cobalt Ventures) (lead) |
| Absolute Labs | Relationship management platform for digital wallets | Financial | US | Seed | 8 | 11/04/2023 | MoonPay, Plazacorp (Plassa Capital), Samsung (Samsung Next), Animoca Brands (Sparkle Ventures), W3i; Alpha Praetorian Capital, The Luxury Fund, Near Foundation, Punja Global Ventures, Groupe Arnault (Aglaé Ventures) |
