May 23, 2024
Venture Capital
AltruBio San Francisco-based AltruBio, a four-year-old startup developing innovative therapies for autoimmune and inflammatory diseases, secured a $225 million Series B round. The funding was led by BVF Capital Partners, with RA Capital Management, Cormorant Asset Management, and Soleus Capital also participating.
DeepL Cologne-based DeepL, a seven-year-old startup offering AI-driven translation services for clients like Nikkei and Zendesk, raised $300 million at a $2 billion valuation. The round was led by Index Ventures, with Iconiq Growth and Teachers’ Venture Growth also joining in.
Tuesday Health Tuesday Health, a one-year-old Chicago startup delivering value-based supportive care for seriously ill patients and their caregivers, raised $60 million. Valtruis led the round, with contributions from Blue Venture Fund, Mass General Brigham Ventures, and CareSource.
Aerodome New York-based Aerodome, a one-year-old startup providing automated drone response systems for public safety agencies, raised $21.5 million in a Series A round. CRV led the funding, with Andreessen Horowitz, Karman Ventures, Immad Akhund, and Ford Street Ventures participating.
Boulder Care Boulder Care, a seven-year-old Portland, OR-based startup offering telehealth addiction treatment services, raised $35 million in a Series C round led by Advance Venture Partners. Stripes, First Round Capital, Qiming Venture Partners, and Laerdal Million Lives Fund also invested, bringing the total raised to approximately $85 million.
Footprint Footprint, a two-year-old New York startup that verifies personal identification documents against official databases, raised $13 million in a Series A round. QED Investors led the funding, with Neo, Animal Capital, and previous investors Index Ventures, Lerer Hippeau, Operator Partners, BoxGroup, Palm Tree Capital, and Definition also joining.
Hydrolix Hydrolix, a startup providing a cloud-based data platform for managing and querying large volumes of log data efficiently, raised $35 million in a Series B round. S3 Ventures led the round, with contributions from Nava Ventures, Wing Ventures, AV8 Ventures, and Oregon Venture Fund. The company has raised a total of $68 million.
MAJORITY Miami-based MAJORITY, a five-year-old startup developing a mobile banking platform for immigrants, raised $12.5 million in equity and $7.5 million in debt. Victor Jacobsson and Hjalmar Winbladh co-led the round, with Valar Ventures, Heartcore Capital, and Avid Ventures also investing.
Nory Dublin-based Nory, a four-year-old startup using AI to help hospitality businesses predict demand and manage expenses, raised $16 million in a Series A round led by Accel. Previous investors Cavalry, Playfair, Samaipata, and Triplepoint also participated.
Praktika Praktika, a two-year-old Palo Alto startup with an AI-powered language learning app featuring realistic avatars for English practice, raised $35.5 million in a Series A round led by Blossom Capital.
Reactive Reactive, a 14-year-old company from Oxford, UK, providing real-time data on grid performance to help utility companies balance energy supply and demand, raised $31.4 million in a Series D round. M&G led the funding, with BGF and Breakthrough Energy Ventures also contributing.
SamaCare San Francisco-based SamaCare, a six-year-old startup aiding health providers in obtaining prior authorizations for specialty drugs, raised $17 million in a Series B round. Questa Capital led the round, with previous investors Vive Collective and South Park Commons also participating.
UnifyApps UnifyApps, a one-year-old San Francisco startup offering tools for rapid app development, business process automation, and data integration, raised $11 million in a seed round led by Elevation Capital.
Vaxess Technologies Cambridge, MA-based Vaxess Technologies, a 12-year-old company developing a patch for gradual medicine release, raised $12 million. Investors included RA Capital Management, Engine Ventures, GHIC, and Mission Bio Capital, bringing the total raised to over $90 million.
Verse Verse, a two-year-old San Francisco startup optimizing businesses' electricity management and increasing renewable energy usage, raised $20.5 million in a Series A round led by GV, with Coatue, CIV, and MCJ Collective also participating.
WitnessAI San Mateo-based WitnessAI, a startup managing and monitoring AI-generated content to prevent harmful outputs and ensure ethical compliance, raised $27.5 million in a Series A round co-led by Ballistic Ventures and Google Ventures.
Ore Energy Ore Energy, a two-year-old Amsterdam startup developing large-scale batteries for renewable energy storage, raised $10.8 million in a seed round led by Positron Ventures.
Stack AI Cambridge, MA-based Stack AI, a two-year-old startup enabling non-technical users to build custom AI assistants, raised $3 million in a seed round. Gradient Ventures, Beat Ventures, True Capital, Lambda Labs, Y Combinator, Soma Capital, and Epakon Capital invested in the round, which closed about a year ago.
Superpower Superpower, a two-year-old Los Angeles startup offering a digital health platform for improving health and longevity, raised $4 million in a seed round led by Susa Ventures. Long Journey Ventures, Family Fund, Atman VC, 24 Carrot VC, Focalpoint Partners, Seaside Ventures, and notable investors Cameron & Tyler Winklevoss, Balaji Srinivasan, and Scott & Cyan Banister also participated.
Traction Ag Traction Ag, a four-year-old Auburn, IN-based startup providing software for farmers to manage business entities, track expenses and revenue by fields and crops, and integrate banking and financial data, raised $10 million in a Series A round led by Cooperative Ventures, with Plymouth Growth also participating.
Volt Volt, a five-year-old Tulsa, OK-based startup offering a platform for marketers to manage and optimize SMS campaigns, raised $3 million in a seed round led by Mercury Fund, with Atento Capital, Uncorrelated Ventures, Stout Street Capital, and Yellow Rocks also investing.
WeatherXM Athens-based WeatherXM, a three-year-old startup creating weather stations that use blockchain technology to collect and share data, raised $7.7 million in a Series A round led by Lightspeed Faction. Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, Metaplanet, and Red Beard Ventures also invested.
Private Equity
Anglo American and BHP Group Miner Anglo American has agreed to enter talks with larger rival BHP Group after rejecting a third proposal valued at approximately $49 billion.
Deutsche Bahn and DB Schenker German railway Deutsche Bahn has received several confirmatory bids for its DB Schenker logistics unit, which could fetch $16 billion, making it one of Europe’s largest deals this year.
Eni and Enilive Eni is exploring the sale of a 20% stake in its biorefining unit, Enilive, following interest from potential buyers. The entire business is valued at approximately $10.8 billion.
Hargreaves Lansdown UK investment platform Hargreaves Lansdown rejected a $5.9 billion takeover proposal from a consortium comprising CVC Capital and Abu Dhabi's ADIA.
Vulcan Materials US-based Vulcan Materials has reportedly rejected Mexico's offer to purchase its Caribbean coast assets for $2 billion.
Biogen and Human Immunology Biosciences Biogen has agreed to acquire Human Immunology Biosciences for up to $1.8 billion, with an upfront payment of $1.15 billion.
Firefly Aerospace Investors in Firefly Aerospace are considering a sale that could value the company at approximately $1.5 billion.
Tata Group and Tata Play Tata Group will acquire Disney’s minority stake in Tata Play in a deal that values the subscription television broadcaster at approximately $1 billion.
KKR, TPG, and PropertyGuru KKR and TPG are exploring options, including a buyout, for the Southeast Asian online real estate platform PropertyGuru.
IPO
ADNOC Drilling State-owned ADNOC plans to sell a 5.5% stake in its drilling unit, ADNOC Drilling, for $900 million.
Carlyle and Rede D'Or Carlyle sold its minority stake in the Brazilian hospital chain Rede D'Or for $427 million.
Rasan Information Technology IPO Saudi fintech Rasan Information Technology's $224 million local IPO attracted $29 billion in orders.
DuPont Chemicals giant DuPont announced it will split into three separately listed companies.
Oyo Softbank-backed Indian budget hotel chain Oyo, once valued at $10 billion, has withdrawn its IPO application for the second time.
New Funds
Permira Permira is seeking $814 million for a new debt fund aimed at financing mid-market firms.
Valor Ventures Peter Thiel-founded Valor Ventures raised $300 million for its ninth fund.
Peterson Partners Investment firm Peterson Partners closed its PE business’ Fund X at $265 million to invest in growth-oriented companies.
Temasek's VC Arm Temasek’s venture capital arm is set to launch its first Japan-focused fund.