M&A
Enterprise software producer Salesforce is set to exit ServiceMax, a US-based developer of field service management software, in a $1.46bn acquisition by manufacturing software provider PTC. Its Salesforce Ventures unit was part of a consortium also including private equity firm Silver Lake that invested $80m in the company in early 2020.
Agricultural data provider FarmX is acquiring AutoModality, the US-based creator of an autonomous navigation system for mobile robotics systems like drones, for an undisclosed amount. AutoModality had raised $500,000 from Skyfund, the joint venture for drone manufacturer DJI and venture firm Accel, in 2017, adding $3.8m from industrial drone producer Autonomous Control Systems Laboratory and private equity firm LiteCap two years later.
Funding
| Company name | Company description | Sector | Country | Round | Round size ($) | Deal dates | Investors |
|---|---|---|---|---|---|---|---|
| Voyah | Electric vehicle brand spun off by Dongfeng Motor | Transport | China | A | 639 | 18/11/2022 | Dongfeng Motor, Ganfeng Lithium; Industrial and Commerical Bank of China, Bank of China (Bank of China Financial Asset Investment), Mixed Ownership Reform Fund |
| Astera Labs | Artificial intelligence chip producer | IT | US | D | 150 | 17/11/2022 | Intel (Intel Capital); Fidelity Management & Research (lead), Atreides Management, Sutter Hill Ventures |
| Xanadu | Quantum computing technology developer | IT | Canada | C | 100 | 17/11/2022 | Porsche; Georgian (lead), Forward Investments, Alumni Ventures, Pegasus Tech Ventures, Silicon Valley Bank, Bessemer Venture Partners, Capricorn, BDC Capital, Tim Draper |
| AAICO | Artificial intelligence software developer | IT | UK | N/A | 42 | 17/11/2022 | G42; Al Maktoum family |
| ISEE | Self driving technology developer | Transport | US | B | 40 | 17/11/2022 | AP Moller (Maersk Growth); Founders Fund (lead), Eniac Ventures, New Legacy |
| Soft Robotics | Picking robotics technology provider | Industrial | US | C | 26 | 17/11/2022 | Tyson Foods (Tyson Ventures), Marel, Johnsonville (Johnsonville Ventures); undisclosed existing investors |
| SeQure Dx | Gene-editing diagnostics technology developer | Healthcare | US | A | 17.5 | 17/11/2022 | Mass General Brigham (Mass General Brigham Ventures) (lead) |
| Upstart Power | Solid-oxide fuel cell manufacturer | Energy and Natural Resources | US | C | 17 | 17/11/2022 | Itochu (lead), Sunnova; Enphase Energy, Rodgers Capital, H+ Partners, Cricetus Felix Ventures |
| Elephantech | Printed circuit board developer | IT | Japan | N/A | 15 | 17/11/2022 | Shin-Etsu Chemical, Eiwa Corporation, Nanobank, Mitsubishi (Mitsubishi Gas Chemical), Kenbishi Sake Brewing, Epson, Sumimoto; Anri, Nose, Shizuoka Capital, D&I Investment, East Ventures, Beyond Next Ventures |
| Circularise | Supply chain tracking platform | Services | Netherlands | A | 11.4 | 17/11/2022 | Asahi Kasei, Neste; Brightlands Venture Partners (lead), 4impact Capital, European Commission (grant funding) |
| Private AI | Data protection platform | IT | Canada | A | 8 | 17/11/2022 | Microsoft (M12); BDC Capital (lead), GIT1K, Differential Ventures, Forum Ventures, Shasta Ventures, Parliament Angels |
| Namecoach | Pronunciation services provider | Services | US | A | 8 | 17/11/2022 | Multiple corporates (Engage VC); Impact America Fund (lead), Authentic Ventures, Ai Sprouts, Metaplanet, Founders Fund, GTM Fund, 640 Oxford, Transcend Network, Asymmetry Ventures, Forefront Venture Partners, Network.VC, Harbor Street Ventures, Seabed VC |
| Zulu | Digital wallet provider | Financial | Colombia | Seed | 5 | 17/11/2022 | Nexo (Nexo Ventures), Capital Markets Trading (CMT Digital), Simplex; Cadenza Ventures (lead), Gaingels, Caterine Castillo, Jose Jair Bonilla, Carolina García, Oscar Sarria, Andrew Chang, Man Hei Lou |
| Anode Labs | Energy storage asset network | Energy and Natural Resources | US | N/A | 4.2 | 17/11/2022 | CoinShares; Lerer Hippeau (co-lead), Lattice (co-lead), Digital Currency Group, VaynerFund |
| Solinas | Sanitation robotics developer | Industrial | India | N/A | <1 ($550,000) | 16/11/2022 | Weizmann Group (Kotta Enterprises); 8X Ventures, Chetan Mehra, Lister Ventures, Sophonos Investment |
| Deepsight AI | Computer vision software producer | IT | India | N/A | <1 ($240,000) | 16/11/2022 | Peregrine Security |
| Paicon | Digital health startup | Healthcare | Germany | N/A | N/A | 17/11/2022 | Bertelsmann (Bertelsmann Investments) |
| Next Renewable Fuels | Biofuel provider | Energy and Natural Resources | US | N/A | N/A | 17/11/2022 | United Airlines (United Airlines Ventures) |
| Carbon Engineering | Direct-air capture technology developer | Energy and Natural Resources | US | N/A | N/A | 17/11/2022 | Airbus, Air Canada |
| Fiduciary Exchange | Online insurance integration network | Financial | US | B | N/A | 17/11/2022 | Prudential Financial (co-lead), Global Atlantic Financial Group (co-lead), Envestnet |
| Fixiago | Car maintenance and repairs service | Transport | India | Seed | N/A | 17/11/2022 | Alienics; Agility Ventures (lead), Taun Kalra |