M&A
Homeowner-focused electrification technology provider Lunar Energy has acquired Moixa, the UK-based smart battery developer backed by carmaker Honda, conglomerate Itochu and energy utility Tokyo Electric Power Company, for an undisclosed amount. The deal enabled Itochu and Honda to become shareholders in Lunar, which emerged from stealth yesterday having raised $300m since 2020 (see below).
Collaborative data operations platform Nexla has purchased Fidap, a US-based data infrastructure builder that counts internet and technology group Alphabet’s Gradient Ventures unit as an investor, for an undisclosed sum.
Funds
Japan-headquartered conglomerate Mitsubishi’s Southeast Asia-oriented private equity firm, AIGF Advisors, has closed a RMB17.3bn ($126m) second fund, DealStreetAsia reported today. Unnamed institutional backers from Japan and Southeast Asia were among the limited partners.
Indonesian government-formed, corporate-backed incubator and investment firm Merah Putih is set to reach a $300m first close for its inaugural Dana Ventura Merah Putih Fund in the first quarter of next year, an executive told DealStreetAsia. Its LPs will include BNI Ventures, BRI Ventures and Mandiri Capital Indonesia, on behalf of financial services firms Bank Negara Indonesia, Bank BRI and Bank Mandiri, as well as MDI Ventures and Telkomsel Mitra Inovasi, the investment arms of Telkom Indonesia and Telkomsel respectively.
Reverse merger
Akili Interactive Labs, a US-based digital therapy developer backed by pharmaceutical firms Merck Group, Amgen and Shionogi, has listed on the Nasdaq Capital Market having completed a reverse merger with special purpose acquisition company Social Capital Suvretta Holdings Corp I. The deal was first announced in January this year and follows over $163m in venture funding. It is being boosted by $162m in private investment in public equity financing.
Funding
Alphabet’s Google for Startups Accelerator has unveiled its latest cohort of Women Founders, which includes three Canadian startups: mobile stock trading tool provider Blossom Social, website-focused emotion analytics service Emaww and MedEssist, the creator of a digital care delivery platform. The batch also featured nine US-based companies:
- Healthcare customer management service Advocatia
- Hospital and clinic-focused reimbursement automation service Arinitra
- AI-equipped packaging recycling technology provider CIRT
- Smart testing tool developer CyDeploy
- Sustainable small farm builder Farm Generations
- Veterinary recruitment service Hound
- Machine learning-driven oncology therapy developer Generable
- Digital agency notice compliance platform Noticeninja
- Parking garage automation service Zero5
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Lunar Energy | Home clean energy product supplier | Energy and Natural Resources | US | N/A | 300 | 24/08/2022 | Sunrun (lead), SK Group |
| Aktis Oncology | Solid tumour-focused radiopharmaceutical therapy developer | Healthcare | US | A | 156 (updated) | 25/08/2022 | Merck & Co (MRL Ventures Fund), Bristol Myers Squibb, Novartis; Cowen Healthcare Investments, ArrowMark Partners, Mirae Asset Venture Investment, Timefolio Capital (formerly NS Investment), Pappas Capital, MPM Capital, Vida Ventures, EcoR1 Capital, Octagon Capital, TCG Crossover |
| CloudView | Internet browser developer | IT | UK | N/A | 100 | 24/08/2022 | Tencent, Transsion Holdings; Welight Capital |
| Ready Player Me | Metaverse avatar creation platform | Media | Estonia | B | 56 | 23/08/2022 | Endeavor (formerly William Morris Endeavor); Andreessen Horowitz (A16Z Games Fund One, A16Z Crypto) (lead), Plural, David Baszucki, Justin Kan, Robin Chan, Henry Ault, Sebastian Knutsson and Riccardo Zacconi, Collab+Currency, Hartbeat Ventures, D’Amelio family, Punk6529, Snowfro, Nordic Ninja, Konvoy |
| AstriVax | Yellow fever vaccine developer | Healthcare | Belgium | Seed | 29.9 | 25/08/2022 | Ackermans & van Haaren, BNP Paribas Fortis (BNP Paribas Fortis Private Equity); V-Bio Ventures (lead), Fund+, Mérieux Equity Partners (OMX Europe Venture Fund), Flanders Future TechFund, Thuja Capital, KU Leuven Gemma Frisius Fund |
| Lily AI | Product recommendation tool developer | Consumer | US | B | 25 | 24/08/2022 | Panasonic (Conductive Ventures); Canaan Partners (lead), Sorenson Ventures, NEA |
| Thirdweb | NFT and web3 app development platform | IT | US | A | 24 | 25/08/2022 | Coinbase (Coinbase Ventures), Shopify, Polygon; Haun Ventures (lead) |
| Spectral | Web3 credit score provider | Financial | US | N/A | 23 | 24/08/2022 | Samsung, Circle (Circle Ventures), Alphabet (Gradient Ventures); General Catalyst (lead), Social Capital, Sishir Varghese, Section 32, Franklin Templeton, Jump Capital |
| Venturous Group | Smart city infrastructure provider | Industrial | China | B | 20+ | 25/08/2022 | CLP Group (lead) |
| Chocolate Finance | Savings optimisation technology developer | Financial | Singapore | A | 19 | 25/08/2022 | Prosus (Prosus Ventures), Credit Saison; Sequoia Capital (Sequoia India) (lead), Orion Advisors, Global Founders Capital, Dara Holdings, Ion Pacific, ChocVen |
| Awign Enterprises | On-demand staffing platform | Services | India | B | 15 | 25/08/2022 | Bertelsmann (Bertelsmann India Investments), Mynavi; Amicus Capital Partners, Unitus Ventures, Michael and Susan Dell Foundation |
| Nkars Mobility Millennial Solutions | Owner of two-wheeler vehicle manufacturer DriveX | Transport | India | N/A | 10.7 | 24/08/2022 | TVS Motor Company |
| Biotia | Pathogen detection technology developer | Healthcare | US | A | 8 | 23/08/2022 | SK Group (SK Square Americas); OCA Ventures (lead), Continuum Health Ventures, Phoenix Venture Partners, SeedtoB Capital, Digital-Dx Ventures, Falcon II Ventures, Tau Ventures, Hyperplane Venture Capital, Leawood Venture Capital, SpringTide Ventures |
| Reposite | Travel agent software producer | Services | US | N/A | 7.5 | 23/08/2022 | Bertelsmann (Bertelsmann Digital Media Investments); Liberty City Ventures (co-lead), Greycroft (co-lead), Math Ventures |
| The Good Face Project | Beauty product development platform | Industrial | US | Seed | 5.65 | 23/08/2022 | Capsum; VMG Catalyst (lead), Spark Growth Ventures, Redo Ventures, John Heffner, Romain Gaillard, Andy Ballester, Brooke Kiley, Hem Suri |
| Rewst | Robotic automation process technology developer | Industrial | US | N/A | 4 | 23/08/2022 | MDJ; TDF Ventures (lead), Florida Funders, GroTech Ventures, Adam Slutskin, David Bellini |
| Key DH Technologies | Operator of green hydrogen production service Hydrogen Optimized | Energy and Natural Resources | Canada | N/A | N/A | 24/08/2022 | ABB (ABB Technology Ventures) |
| OBM | Online student advice service | Services | Egypt | N/A | N/A | 24/08/2022 | Nahdet Misr Publishing House (EdVentures) |
| Lumotive | Beam-steering lidar chip developer | IT | US | N/A | N/A | 25/08/2022 | Samsung (Samsung Ventures) (lead), Himax; Bill Gates, Quan Funds, MetaVC Partners |
| Xymax | Property management company | Services | Japan | N/A | N/A | 25/08/2022 | BS Shochiku Tokyu |
| PromiseQ | Security system analytics technology provider | IT | Germany | Pre-Seed | N/A | 23/08/2022 | Porsche/Axel Springer (APX) (lead); René Helbig |
Image courtesy of Lunar Energy, Inc.
