M&A
Management consulting firm McKinsey & Company has acquired Iguazio, an Israel-based AI application development platform backed by corporates Verizon, Dell, Samsung, Robert Bosch and CME Group, for an undisclosed sum. It was valued at $100m as of its last disclosed round, in 2020, when investors including Verizon Ventures and Samsung SDS provided $24m to take its total funding to over $72m.
Physical activity tracking platform Strava has paid an undisclosed amount to purchase Fatmap, the UK-based operator of a 3D mapping service focused on outdoor actvities, enabling carmaker Jaguar Land Rover‘s InMotion Ventures unit to exit. The corporate took part in a 2018 round for the Strava.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Resolution Life | Life insurance consolidation business | Financial | UK | N/A | 650 | 24/01/2023 | Nippon Life |
| Dayforward | Digital life insurance provider | Financial | US | N/A | 25 | 24/01/2023 | Axa (Axa Venture Partners) (lead), Munich Re (Munich Re Ventures); Juxtapose, Hudson Structured Capital Management (HSCM Ventures) |
| Ecozen Solutions | Solar energy-based cold storage technology provider | Services | India | C | 25 | 24/01/2023 | Coromandel International (Dare Ventures) (co-lead); Nuveen Global Fund (co-lead), Export-Import Bank of India, Caspian Impact Investment, Triodos Bank/Hivos (Hivos-Triodos Fund), Maanaveeya Development and Finance, Oxyzo, Northern Arc Group, HDFC Bank, Axis Bank (debt) |
| Rumin8 | Methane-focused emissions reduction system developer | Industrial | Australia | Seed | 17.6 (updated) | 23/01/2023 | Harvest Road Group; Breakthrough Energy Ventures (lead), Sentinel Impact (Aware Super Sentient WA Growth Fund), Prelude Ventures |
| Kewazo | Construction robotics technology developer | Industrial | Germany | A | 10 | 23/01/2023 | Nemetschek; Fifth Wall (lead), Cybernetix Ventures, Unorthodox Ventures |
| Cudoni | Luxury goods resale marketplace | Consumer | UK | N/A | 9.3 | 23/01/2023 | eBay (eBay Ventures), Daily Mail Group (DMG Ventures); Andrew Jennings |
| Transcelestial | Wireless laser communications provider | Telecoms | Singapore | A2 | 7 | 24/01/2023 | Airbus (Airbus Ventures) (lead), Globe Telecom (Kickstart Ventures); Defence Science and Technology Agency (Cap Vista), Seeds Capital, Wavemaker Partners, Entrepreneur First |
| CoverDash | Small business insurance provider | Financial | US | Seed | 2.5 | 23/01/2023 | Axis Capital (Axis Digital Ventures), Tokio Marine/World Innovation Lab (Tokio Marine Future Fund); Expansion VC, Cameron Ventures, Greg Hendrick, Garret Koehn, Steve Shenfeld |
| Fairatmos | Carbon project development platform | Energy and Natural Resources | Indonesia | Seed | 1.5 | 24/01/2023 | Tova Bara Sejahtra (Kreasi Terbarunkan TBS), GoTo (Go-Ventures) |
| Sushi Top Marketing | Enterprise NFT marketing platform | Media | Japan | Seed | <1 ($770,000) | 24/01/2023 | Dentsu Group; Spiral Capital (lead), Miraise |
| OpenAI | Art and text-generating software provider | IT | US | N/A | N/A | 23/01/2023 | Microsoft |
| Cosmo Tech | Provider of digital twin simulation technology | IT | France | N/A | N/A | 23/01/2023 | Accenture; Sam George |
| Dufour Aerospace | Unmanned aircraft developer | Transport | Switzerland | B | N/A | 23/01/2023 | Vista Global |
| Mapry | Geospatial information app developer | Services | Japan | A1 | N/A | 24/01/2023 | Mirait One, Shimizu Corporation, Minato Bank (Minato Capital), Chugoku Bank (Chugin Capital Partners), Ichinen Holdings, Digital Holdings (Bonds Investment Group’s Hyogo Kobe Startup Fund); Drone Fund |
