Public markets
Zoomcar, an India-based on-demand car rental service that counts electronics producer Sony and automotive manufacturers Mahindra & Mahindra and Ford as investors, has agreed to merge with special purpose acquisition company Innovative International Acquisition Corp. The deal gives Zoomcar an implied pro forma enterprise valuation of $456m and it will acquire a listing on the Nasdaq Stock Market. The company had raised at least $208m in funding as of November 2021.
M&A
MyPower Corp, an energy infrastructure and investment affiliate of Japanese conglomerate Mitsui, has purchased solar power provider Solstice Power Technologies for an undisclosed amount. US-based Solstice last raised cash in a $3.1m round in early 2021 led by petroleum supplier TotalEnergies through its Total Carbon Neutrality Ventures fund. Energy technology manufacturer Schneider Electric’s SE Ventures unit and insurer American Family’s Institute for Corporate and Social Impact also took part in that round.
Sneaker and apparel-focused ecommerce company Goat Group has paid an undisclosed sum to acquire Grailed, the US-based operator of an online marketplace for streetwear, luxury and vintage fashion. Goat had led the company’s $60m series B round in September 2021, taking its total funding to $80m. Its earlier backers included Simon Ventures, a corporate venture vehicle for real estate developer Simon Property Group that appears to have since shuttered.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Skydance Media | Film and television production studio | Media | US | N/A | 400 | 13/10/2022 | Tencent; KKR (lead), The Ellison family, RedBird Capital Partners |
| Vanta | Cybersecurity monitoring platform | IT | US | B | 150 (updated) | 12/10/2022 | CrowdStrike; Craft Ventures (lead), Y Combinator, Sequoia Capital, Terrence Rohan |
| Matchpoint Therapeutics | Precision small molecule medicine developer | Healthcare | US | A | 70 | 14/10/2022 | Sanofi (Sanofi Ventures) (lead), Alexandria Real Estate Equities (Alexandria Venture Investments), Access Industries (Access Biotechnology); Vertex Ventures, Digitalis Ventures, Atlas Venture |
| Inversago Pharma | Metabolic condition-focused drug developer | Healthcare | Canada | C | 69.2 | 17/10/2022 | Amgen (Amgen Ventures); New Enterprise Associates (lead), Forbion, Fonds de solidarité FTQ, Genesys Capital, AmorChem, JDRF T1D Fund, AdMare BioInnovations |
| Vuz | Immersive content streaming platform | Media | UAE | B | 20 | 17/10/2022 | Saudi Research and Media Group; Caruso Ventures, E& (E&Capital), Dubai Future District Fund, Vision Ventures, Win, Elbert Capital, Yasta Partners, Faith Capital, Panthera Capital |
| SettleMint | Blockchain app development platform | IT | Belgium | A | 16 | 11/10/2022 | Overstock.com (Medici Ventures), Fujitsu (Fujitsu Ventures), Allusion; Molten Ventures (co-lead), OTB Ventures (co-lead), Bloccelerate |
| Grandperspective | Emission monitoring system provider | Energy and Natural Resources | Germany | A | 6.9 | 17/10/2022 | Saudi Aramco (Saudi Aramco Energy Ventures) (lead); High-Tech Gründerfonds, Brandenburg Kapital, Kineo Finance |
| Pine Street Labs | Crypto infrastructure developer | Financial | US | N/A | 6 | 13/10/2022 | Coinbase (Coinbase Ventures), CoinList, Figment; Polychain Capital (lead), Blockchain Capital, Beco Capital, Genesis |
| Dandi Technologies | Workplace diversity-focused analytics platform | Services | US | Seed | 3.7 | 14/10/2022 | Atlassian (Atlassian Ventures); Springbank (co-lead), Alleycorp (Alleycorp Impact) (co-lead), Impact Engine, Uncommon Denominator, AAF, Heirloom VC |
| Mobility Work | Maintenance management system provider | IT | France | A | 2 | 17/10/2022 | Farinia, Saint-Gobain |
| Gritti | Web3-based social fitness app | Consumer | N/A | Seed | 1.7 | 14/10/2022 | Orderly Network, Bixin (Bixin Ventures); Lingfeng Innovation Fund (lead), Youbi Capital, Stratified Capital, CDI |
| Better Beauty | Personal care and cosmetics provider | Consumer | India | N/A | <1 (200,000) | 14/10/2022 | Lotus Herbals |
| Qeeq | Car rental platform | Transport | China | N/A | N/A | 14/10/2022 | Alibaba (Fliggy) |
