M&A
FleetCor Technologies, a provider of ommercial fleet payment tools, acquired portfolio company Mina, the UK-based operator of an electric vehicle charging service, for an undisclosed sum. It invested in a 2021 round reportedly valuing Mina at $8.3m, before adding an undisclosed amount 10 months later.
Molecular diagnostics technology developer Sherlock Biosciences paid an undisclosed amount to purchase Sense Biodetection, a UK-based peer backed by industrial and chemicals group Koch Industries. The corporate took part in a series B round Sense Bio closed at $65m in late 2021, pushing its overall funding past $79m.
Energy sector analytics platform Energy Aspects bought UK-based oil data aggregator OilX in a deal of undisclosed size, allowing corporates Signal Group, GS Caltex and Citi to exit. OilX was incubated in the venture studio of Signal acclerator Signal Ventures before raising $2.2m from Citi and GS Caltex in 2020.
Recount Media, the US-based owner of politics-focused digital media platform The Recount, was acquired by social news platform The News Movement for an undisclosed amount. It had collected a total of $31m from investors including broadcaster ViacomCBS and Burda Principal Investments, part of media group Hubert Burda as of mid-2021.
Public markets
Structure Therapeutics, a US-based cardiovascular, metabolic and pulmonary therapy developer backed by drug development software producer Schrodinger and pharmaceutical firms WuXi AppTec and Eli Lilly, set the terms for an initial public offering on the Nasdaq Stock Exchange expected to raise between $116m and $134m.
Funding
Raylo, the UK-based operator of a rental subscription service for electronic devices, raised $136m in funding from investors including telecommunications firm Telefónica. The equity portion of the round was filled out by Octopus Ventures, Macquarie Capital and Guy Johnson while debt financing was supplied by NatWest and Quilam Capital.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Alto Neuroscience | Psychiatric medicine developer | Healthcare | US | B | 60 (updated) | 30/01/2023 | Novartis; Alpha Wave Ventures (lead), Sobrato Capital, Lightswitch Capital, Alkeon Capital, Valor Equity Partners, Korify Capital, Vine Ventures, Gaingels, Apeiron Group, WhatIf Ventures, Windham Venture Partners, K2 HealthVentures |
| Clearsense | Healthcare data management platform | Healthcare | US | D | 50 | 31/01/2023 | UPMC (UPMC Enterprises); HealthQuest Capital (lead), Health Catalyst Capital |
| Ronovo Surgical | Robotic and digital surgery technology developer | Healthcare | China | N/A | 50 | 01/02/2023 | Eli Lilly (Lilly Asia Ventures); LongRiver Investments (lead), Vivo Capital, Matrix Partners China, GGV Capital |
| Tado° | Home thermostat producer | Energy and Natural Resources | Germany | N/A | 46.9 | 26/01/2023 | Noventic, Zürcher Kantonalbank; Trill Impact (Trill Impact Ventures) (lead), Förderbank Bayern (Bayern Kapital), Kiko Ventures, Swisscanto, Target Partners, unnamed existing investors |
| Phantom AI | Autonomous driving platform developer | Transport | US | C | 36.5 | 01/02/2023 | Samsung (Samsung Ventures), KT Group (KT Investment); Renaissance Asset Management, InterVest, Shinhan GIB |
| Craft | Enterprise intelligence software provider | IT | US | B | 32 | 01/02/2023 | ServiceNow (ServiceNow Ventures); Balyasny Asset Management (BAM Elevate) (lead), Greycroft, Uncork Capital, High Alpha, Point Field Partners, Frederic Kerrest, Stacey Epstein, Edith Harbaugh |
| Sentra | Provider of cloud data security technology | IT | Israel | A | 30 | 31/01/2023 | Munich Re (Munich Re Ventures), Xerox (Xerox Ventures); Standard Investments (lead), Moore Strategic Ventures, Int3, Bessemer Venture Partners, Zeev Ventures |
| Risilience | Climate analytics technology provider | IT | UK | B | 26 | 01/02/2023 | National Grid (National Grid Partners); Quantum Energy Partners (Quantum Innovation Fund) (lead), IQ Capital |
| Ribon Therapeutics | Small molecule cancer therapy developer | Healthcare | US | N/A | 25 | 30/01/2023 | Pfizer |
| NT-Tao | Nuclear fusion energy reactor developer | Energy and Natural Resources | Israel | A | 22 | 01/02/2023 | Delek (lead), Honda; NextGear Ventures, Grantham Foundation, OurCrowd |
| Coverflex | Provider of employee benefits management tools | Services | Portugal | A | 16.4 | 01/02/2023 | Scor (Scor Ventures) (lead), MS&AD; Breega, Armilar Venture Partners, Stableton Financial, Big Start Ventures, Shilling VC, Firmin Zocchetto, Job van der Voort, Nuno Sebastião, Humberto Ayres Pereira, Hugo Arévalo, Alessandro Petazzi, Davide Dattoli, undisclosed others |
| Spark Advisors | Retirement benefits navigation service | Financial | US | A | 15 | 30/01/2023 | American Family Insurance (American Family Ventures) (lead); Insiders Primary Ventures, Torch Capital, Vine Ventures |
| HySiLabs | Hydrogen transport and storage technology developer | Energy and Natural Resources | France | A | 14.2 | 02/02/2023 | Equinor (Equinor Ventures) (lead), EDP (EDP Ventures), PLD Automobile; European Innovation Council Fund, Kreaxi, Région Sud Investissement, CAAP Création |
| Orbital Sidekick | Developer of satellite monitoring technology for oil and gas pipelines | Industrial | US | N/A | 10 | 31/01/2023 | Williams Oil Company, Oneok; Energy Innovation Capital (lead), University of Minnesota (university endowment), 11.2 Capital, Syndicate 708, US Central Intelligence Agency (In-Q-Tel) |
| Passthrough | Atomation software provider for fund investment agreements | Financial | US | A | 10 | 01/02/2023 | Motley Fool (Motley Fool Ventures); Positive Sum (lead), Broadhaven Ventures, Company Ventures, Great Oaks VC |
| Jetpack.io | Cloud-based app development platform | IT | US | Seed | 10 | 01/02/2023 | Alphabet (GV); Coatue |
| Enteligent | Developer of solar power-based electric vehicle charging technology | Energy and Natural Resources | US | N/A | 7 | 02/02/2023 | Saint-Gobain (Nova) (co-lead); Taronga Ventures (co-lead) |
| Tigerbeetle | Financial accounting database provider | Financial | US | Seed | 6.4 | 30/01/2023 | Coil; Amplify Partners (lead) |
| Pigmentum | Plant-based genetic modification technology developer | Energy and Natural Resources | Israel | Seed | 6 | 25/01/2023 | Tempo, Tnuva; Kibbutz Yotvata (lead), Arkin Holdings, OurCrowd |
| C-mo Medical Solutions | Cough monitoring system developer | Healthcare | Portugal | Seed | 5.2 | 31/01/2023 | Boehringer Ingelheim (Boehringer Ingelheim Venture Fund) (lead); Novalis Lifesciences, Portugal Ventures, High-Tech Gründerfonds |
| Immunosens | Immunosensor device developer | Healthcare | Japan | B2 | 3.9 | 02/02/2023 | Kirin (Kirin Health Innovation Fund), Sumitomo Pharma Animal Health, Toppan, Mitsubishi Materials (MMC Innovation Fund), undisclosed corporate investor; Bank of Ikeda/Senshu Bank (Senshu Ikeda Capital), Kiyo Bank (Kiyo Capital Management), Resona Bank (Resona Capital), Sumitomo Mitsui Banking Corporation (SMBC Venture Capital); Japan Finance Corporation (debt) |
| Rysk Finance | Decentralised finance-based on-chain market protocol developer | Financial | US | Pre-seed | 1.4 | 31/01/2023 | Encode Club, Manifold Trading; Lemniscap (lead), Ascensive Assets, Starbloom, Yunt Capital, Hype.eth, Ivangbi, Windra Thio |
| Polemix | Web3-based opinion video sharing platform | Media | US | N/A | 1 | 01/02/2023 | Globant (Be Kind Tech Fund) |
| Abhinay Maths | Exam preparation app developer | Services | India | N/A | N/A | 02/02/2023 | Classplus |
| Insight Technology | Enterprise data governance platform | IT | Japan | A | N/A | 02/02/2023 | JMC; Miraitronc |
