Funds
SR One, the venture capital firm spun off by pharmaceutical firm GSK, closed its second fund at $600m, $100m higher than its target. The limited partners include undisclosed drug producers, endowments, foundations, pension funds, sovereign wealth funds and family offices.
India-based VC firm Pi Ventures has secured Rs 220m ($2.7m) from food retailer Colruyt Group for its latest fund through subsidiary Colruyt India. The firm is targeting between Rs 6.75bn and Rs 7.5bn for its final close.
M&A
Artificial intelligence technology provider Beijing Lightyear Technology is acquiring Beijing OneFlow Technology, a China-based developer of AI frameworks that counts short video platform Kuaishou as an investor, in an all-share deal.
Lighting equipment manufacturer Eypex Corporation paid an undisclosed amount for the assets of JustLight, the US-based creator of a therapeutic lamp system, allowing advanced materials producer Asahi Kasei to exit. The corporate took part in a $2.8m seed round for JustLight in July 2022.
Phos, a Bulgaria-based mobile payment app developer backed by customer communication services provider CM.com, has been bought by cloud payment technology provider Ingenico for an undisclosed sum. Phos had raised a total of $2.7m before it added $2.4m from CM in 2021.
Funding
Germany-based small rocket developer Isar Aerospace received $165m in a series C round featuring Porsche Automobil Holding, a subsidiary of carmaker Porsche. The corporate was joined by 7-Industries Holding, Bayern Kapital’s Scale Up Fund Bavaria unit, Earlybird Venture Capital, HV Capital, Lakestar, Lombard Odier Group’s Lombard Odier Investment Managers subsidiary, UVC Partners and VSquared Ventures in the round.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Qoala | Digital insurance marketplace | Financial | Indonesia | B | 72.5 (updated) | 28/03/2023 | Massachusetts Mutual Life (MassMutual Ventures), Telkom Indonesia (MDI Ventures), Bank Rakyat Indonesia (BRI Ventures), Bank Mandiri (Mandiri Capital Indonesia); Eurazeo, Daiwa PI Partners, Indogen Capital, Salt Ventures, Flourish Ventures, KB Investment, SeedPlus, Sequoia Capital India, AppWorks, ResponsAbility Investments |
| Roojai | Retail insurance product distributor | Financial | Thailand | B | 42 (primary and secondary) | 28/03/2023 | Talanx Group (HDI International) (lead); World Bank (International Financial Corporation) |
| Sonoma Biotherapeutics | T-cell therapy developer for autoimmune diseases | Healthcare | US | N/A | 30 | 28/03/2023 | Regeneron Pharmaceuticals |
| Venti Technologies | Autonomous logistics technology developer | Services | US | A | 28.8 | 28/03/2023 | LG Group (LG Technology Ventures) (lead); Safar Partner, United Overseas Bank (UOB Venture Management), Alpha JWC, LDV Partners |
| Spiral | Bank-focused impact activities management platform | Financial | US | A | 28 | 28/03/2023 | Phoenix; Team8 (lead), Euclidean Capital, Intuition Fund, Communitas Capital, Nidoco |
| Perplexity AI | Developer of conversational AI-based search engine | IT | US | A | 25.6 | 28/03/2023 | Databricks (Databricks Ventures); New Enterprise Associates (lead), Elad Gil, Nat Friedman, Bob Muglia, Paul Buchheit |
| Glopal | Expansion tool developer for online merchants | Media | France | A | 21.7 | 29/03/2023 | Crédit Mutuel Equity (Crédit Mutuel Innovation); Hi Inov, Seventure, Axeleo Capital, Dentressangle, Motier Ventures, Pierre Denis |
| Smalls | Direct-to-consumer cat food brand | Consumer | US | N/A | 19 | 28/03/2023 | Mars (Companion Fund) (lead), General Mills (301 INC); Left Lane Capital, Valor Capital, Founder Collective |
| Talpasolutions | Industrial fleet management platform | Transport | Germany | B | 16.2 | 28/03/2023 | Robert Bosch Group (Robert Bosch Venture Capital), HDI Insurance Group (Hannover Digital Investments), RAG (RAG Stiftung), Newlab/Vimson Group (Prospect Mining Studio); MIG Capital (lead), High-Tech Gründerfonds (Gründerfonds Ruhr), F-Log Venture, NRW.Bank |
| Deepc | AI-equipped diagnostic tool developer | Healthcare | Germany | A | 13 | 28/03/2023 | Bertelsmann (Bertelsmann Investments); Sofinnova Partners (lead), Winning Mindset Ventures |
| Loyalty Angels (Bink) | Payment card-based customer loyalty app developer | Financial | UK | N/A | 11.1 | 27/03/2023 | Barclays, Lloyds Banking Group |
| Hazy | Synthetic enterprise data aggregator | IT | UK | A | 9 | 28/03/2023 | Microsoft (M12), Wells Fargo, Nationwide Building Society, Intesa Sanpaolo (Neva SGR); Conviction (lead), UCL (UCL Technology Fund), ACT Venture Partners, Terra VC, Evenlode, Logo Ventures, Sarus Ventures |
| Ever.green | Clean energy project investment marketplace | Energy and Natural Resources | US | Seed | 6.1 | 27/03/2023 | Baker Tilly International (Baker Tilly); Pioneer Square Labs (PSL Ventures) (lead), Designer Fund, Fin Capital, City Light Capital, Climate Capital |
| Pacto | Restaurant-focused integrated payment platform | Financial | Mexico | N/A | 4 | 29/03/2023 | Femsa (Femsa Ventures); Dila Capital (lead), 500 Global, August Hill, Polymath Ventures, Georgetown Angel Investor Network, Francisco Medina, Ángel Losada |
| Payday | Africa-focused neobank operator | Financial | Nigeria | Seed | 3 | 29/03/2023 | Moniepoint (lead); Techstars, HoaQ, DFS Lab (Stellar Africa Fund), Ingressive Capital Fund II, Dare Okoudjou, Tola Onayemi, Angels Touch |
| Kim Technologies | Document automation software provider | IT | US | N/A | N/A | 27/03/2023 | Chick-fil-A/The Coca-Cola Company/Cox Enterprises/Delta Air Lines/Georgia-Pacific/Georgia Power Foundation/The Home Depot/Honeywell/Inspire Brands/Intercontinental Exchange/Invesco/Invest Georgia/Tech Square Ventures/UPS/Wellstar/Georgia Institute of Technology/Goldman Sachs (Engage VC) |
| CarPay-Diem | Fuel pump payment management app | Energy and Natural Resources | Luxembourg | N/A | N/A | 28/03/2023 | ZF Group |
