M&A
Diversified software group Microsoft has paid $190m to buy Fungible, the US-based data centre-focused hardware and software provider backed by corporates Juniper Networks, SoftBank and Samsung. Fungible had raised over $300m as of a $200m series C round led by SoftBank Vision Fund I in 2019.
Integrated data services group Amplify Health has acquired AiDA Technologies, a Singapore-based artificial intelligence technology developer backed by conglomerate Kuok Group and payment services provider Mastercard, for an undisclosed sum. Mastercard, corporate venture capital unit Kuok Ventures and SGInnovate had combined to provide an undisclosed amount of series A funding for AiDA in 2019.
Virtual benefits broker Jellyvision has purchased US-based insurance marketplace operator Picwell for an undisclosed amount, allowing firearms manufacturer Springfield Armory and insurers Aflac, Blue Cross Blue Shield and MassMutual to exit. It had secured at least $11m as of a $4m series B round in 2018.
Heavy equipment and truck provider Ritchie Bros has paid an undisclosed sum to acquire VeriTread, a US-based shipping exchange service backed by Sumitomo Corporation of America, a subsidiary of conglomerate Sumitomo, for an undisclosed sum. The corporate invested $2.5m in 2017 before VeriTread added $3.5m from unnamed investors two years later. It had previously raised $1.5m according to securities filings.
Reverse merger
DigiAsia Bios, an Indonesia-based embedded financial technology provider backed by payment services firm Mastercard, has merged with Nasdaq-listed special purpose acquisition company StoneBridge Acquisition Corporation. Mastercard led a series B round of undisclosed size in 2020, and the latest transaction values the combined business at $500m pre-equity.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Monogram Health | Home care management service provider for polychronic sufferers | Healthcare | US | N/A | 375 | 09/01/2023 | CVS Health (lead), Cigna (Cigna Ventures), Humana, Memorial Hermann Health System, Heritage Group; Scan, TPG Capital, Frist Cressey Ventures, Pura Vida Investments, Norwest Venture Partners |
| Carbon Health | Patient-connected care model platform | Healthcare | US | D | 100 | 09/01/2023 | CVS Health (CVS Health Ventures) (lead) |
| Hui Sheng Biopharma | Diabetes drug subsidiary of Sihuan Pharmaceutical Holdings Group | Healthcare | China | A+ | 86 | 04/01/2023 | WuXi AppTec (Wuxi Shangwei Venture Capital), Sihuam Pharmaceutical Holdings; Shanghai Angju Asset Management (Jilin Baixing Bairong Investment Center), Jilin Province Private Equity, Jilin Province Technology Investment Fund |
| Superscript | Online insurance brokerage | Financial | UK | B | 54.7 | 09/01/2023 | BHL (lead), Hartford, Beazley Group; Concentric, Seedcamp |
| Holmusk | Behavioural health data platform | Healthcare | Singapore | B | 45 | 09/01/2023 | Veradigm (lead), Novartis (dRx Capital) Northwell Health (Northwell Holdings); Heritas Capital, Health Catalyst Capital |
| Jackpot.com | Online lottery ticket platform | Consumer | US | A | 42 (updated) | 09/01/2023 | Dallas Cowboys, New York Yankees, The Kraft Group; Courtside Ventures, Accomplice, Theo Epstein, Sharp Alpha Advisors, Sapphire Sport, Sam Kennedy, Mike Gordon, Michael Rubin, Martin Brodeur, Aurum Partners, Tisch family, Detroit Venture Partners, BettorCapital |
| Medix Infusion | Patient infusion therapy developer | Healthcare | US | B | 35 | 09/01/2023 | Cambia Health Solutions (Echo Health Ventures) (lead); Pittco Management (Pittco Direct Investments II), Noro-Moseley Partners, Live Oak Bank |
| Array Behavioral Care | Virtual psychiatry practice | Healthcare | US | C | 25 | 09/01/2023 | CVS Health (lead), Wells Fargo (Wells Fargo Strategic Capital), OSF Healthcare; Health Velocity Capital, Harbour Point Capital, HLM Venture Partners, OCA Ventures |
| PowerX | Renewable energy storage technology developer | Energy and Natural Resources | Japan | N/A | 20.5 | 10/01/2023 | Tatsumi Shokai, JA Mitsui Leasing, Sompo Holdings, Shoei Kisen Kaisha, Shikoku Electric Power; Anchor Ship Partners, unnamed other corporates |
| Cropin | Agriculture digitalisation software provider | Industrial | India | N/A | 13.8 | 10/01/2023 | Alphabet (Google), JSR Corporation; ABC Impact, Chiratae Ventures |
| Qarnot | Green heating system developer | Energy and Natural Resources | France | N/A | 13.3 | 09/01/2023 | Société Générale (Société Générale Ventures); Ademe Investissement, Demeter, la Banque des Territoires, Colam Impact |
| Qritive | Microscopy-based cancer diagnosis technology developer | Healthcare | India | N/A | 7.5 | 09/01/2023 | MassMutual (MassMutual Ventures) (lead); Seeds Capital, Exfinity Venture Partners |
| Dagangan | Rural ecommerce marketplace | Consumer | Indonesia | N/A | 6.6 | 10/01/2023 | Sumitomo Mitsui Banking Corporation (BTPN Syariah/BTPN Syariah Ventura); Monk’s Hill Ventures |
| Atommerce | Operator of mental healthcare platform Mind Cafe | Healthcare | South Korea | N/A | 4.8 | 10/01/2023 | Lotte (Lotte Healthcare), Samsung (Samsung Ventures) |
| NLX | Customer service chatbot creator | IT | US | Seed2 | 4.6 | 10/01/2023 | JetBlue (JetBlue Ventures); IAG Capital Partners (lead), Flying Fish Ventures |
| Clinikk | Healthcare insurance subscription service | Financial | India | A | 3 | 09/01/2023 | MassMutual (MassMutual Ventures) |
| Juniper Biologics | Gene therapy developer | Healthcare | Singapore | N/A | 2.5 | 10/01/2023 | United Overseas Bank (UOB Venture Management) |
| Prograd | Financial education and savings service provider | Financial | UK | Seed | 2.5 | 09/01/2023 | Deloitte (Deloitte Ventures); Techstars, Zaka Ventures, AGAM, Mandeep Singh, new and existing angel investors |
| Daimani | VIP hospitality package provider | Services | Switzerland | N/A | 1.7 | 09/01/2023 | PIA Corporation |
| Imaware | Home health test provider | Healthcare | Ireland | N/A | 1.5 | 09/01/2023 | Trinity Biotech; McNair Interests (lead) |
| Pillz | NFT gaming wearable device developer | Media | N/A | Pre-seed | N/A | 09/01/2023 | Xsolla; Aleksandr “Shurick” Agapitov |
| GeneAssist Therapeutics | Neuromuscular disease-focused gene editing medicine developer | Healthcare | China | A | N/A | 10/01/2023 | AstraZeneca/China International Capital Corporation (AstraZeneca-CICC Capital) (lead), Baidu (Baidu Ventures); Oriza Holdings, Sequoia Capital China |
