Reverse merger
LanzaTech, a US-based carbon capture technology developer backed by corporate investors ArcelorMittal, Mitsui, Novo, Siemens and Petronas, has listed on Nasdaq, having completed a reverse merger with special purpose acquisition company AMCI Acquisition Corp II. The new entity, called LanzaTech Global, will have a market capitalisation of $2bn.
Nasdaq-listed automotive data marketplace Otonomo Technologies has agreed to merge with Urgent.ly, a US-based roadside assistance provider backed by corporates BMW, Porsche, Jaguar Land Rover, Verizon, Allianz and American Tire Distributors, helping the latter go public.
Public markets
Mineralys Therapeutics, a US-based hypertension therapy developer backed by pharmaceutical firm GlaxoSmithKline, has priced its initial public offering of 12 million shares at $16 apiece. The listing on the Nasdaq Global Select Market will give the company about $192m in proceeds.
Funds
Fubon Life Insurance, the insurance subsidiary of conglomerate Fubon Financial Holdings, has committed $70m to Platinum Equity Capital Partners VI, a buyout fund for Platinum Equity. The corporate has also agreed to invest $2m in QED Fund VIII, a fund overseen by QED Investors.
UK-based impact investment firm Ocean 14 Capital has raised €30m ($32.2m) from Ingka Investments, the investment subsidiary of Ingka Group, which is the parent firm of furniture distributor Ikea.
M&A
Diversified software producer Enghouse Systems has acquired Navita, a Brazil-based provider of enterprise mobility management platform backed by chipmaker Intel, for an undisclosed amount.
Funding
Zeekr, the luxury electric vehicle subsidiary of China-based carmaker Geely, has raised $750m in a series A round featuring battery manufacturer Contemporary Amperex Technology. Yuexiu Industrial Fund, Tongshang Fund and Xin’an Intelligent Manufacturing Fund filled out the participants.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Floward | Online flower and gift purchasing site | Consumer | UAE | C | 156 | 07/02/2023 | Bank Al Jazira (Aljazira Capital) (lead); Rainwater Partners, STV |
| Trust IQ | Online loan provider | Financial | Singapore | N/A | 105 | 10/02/2023 | Masan Group (The Sherpa Company) |
| Buymed | B2B pharmaceutical marketplace | Healthcare | Singapore | B | 33.5 | 13/02/2023 | Smilegate (Smilegate Investment); United Overseas Bank (UOB Venture Management) (lead), Cocoon Capital |
| Partior | Blockchain-based payment settlement platform | Financial | Singapore | A | 31 | 11/02/2023 | Standard Chartered (lead), DBS Bank; Temasek Holdings, JP Morgan |
| Migo | Digital content distributor | Media | Indonesia | C1 | 20 | 10/02/2023 | MNC Group (MNC Vision Network) (lead); unnamed other investors |
| Mino Games | Character-driven game developer | Media | Canada | B | 15 | 09/02/2023 | SYBO Games; Standard Crypto (lead), Boost VC, Collab+Currency, Earl Grey Capital, Konvoy Ventures, Andreessen Horowitz |
| Qotto | Africa-focused solar kits provider | Energy and Natural Resources | France | A | 8 | 13/02/2023 | IBL Group (lead); Lion’s Head Global Partners (Off-Grid Energy Access Fund), Cordaid, unnamed existing investors |
| Lemu | Deep tech conservation app | Industrial | Chile | N/A | 8 | 04/02/2023 | Celulosa Arauco y Constitución (Arauco Ventures) |
| CaPow | Autonomous robotics power flow technology provider | Industrial | Isarel | Seed | 7.5 | 13/02/2023 | Payton Planar Magnetics, Doral Group (Doral Energy-Tech Ventures); IL Ventures (lead), Mobilion VC, Mobilitech Capital, Ray Nissan |
| C3 | Self-custodial decentralised crypto exchange operator | Financial | US | Seed | 6 | 10/02/2023 | Two Sigma (Two Sigma Ventures) (lead), Jump Crypto, Hudson River Trading, Flow Traders, DRW (Cumberland); Jane Street Capital, Golden Tree, CMS Holdings, AlphaLab Capital, C² Ventures |
| Habbito | Mobile bancassurance platorm | Financial | Japan | Pre-A | 3.9 | 08/02/2023 | Credit Saison (Saison Capital)(co-lead), Digital Garage/Daiwa Securities Group (DG Daiwa Ventures), Kyokuto Securities; Cherubic Ventures (co-lead), GMO Ventures, Epic Angels |
| VRRB Labs | Decentralised protocol developer | Financial | US | Pre-seed | 1.4 | 13/02/2023 | Jump Crypto (lead); Taureon, Big Brain Holdings |
| BuuPass | Road travel booking platform | Services | Kenya | Pre-seed | 1.3 | 13/02/2023 | Alphabet (Google Black Founders Fund); Founders Factory Africa, FrontEnd Ventures, Adaverse, Gullit, Five35, Renew Capital, Changecom, XA Network, Ajim Capital, Artha Ventures, Daba Finance, unnamed angel investors |
| Beazy | Visual content marketplace operator | Media | Germany | N/A | 1.1 | 10/02/2023 | Alphabet (Google Black Founders Fund Europe 2022); BTQ Ventures, HitchHiker Ventures |
| Newgen Gaming | Esport game developer | Media | India | N/A | 1 | 13/02/2023 | nCore Games |
| Linda Pesa | Tanzanian SME-focused business management platform | IT | Japan | N/A | <1 ($230,000) | 12/02/2023 | Marui Group; East Ventures, Skylight Consulting, 01Booster Capital |
| Interon | Brain diseases treatment developer | Healthcare | US | N/A | N/A | 13/02/2023 | HanAll Biopharma C |
