May 29, 2024
Venture Capital
Infra.market, an Indian startup founded eight years ago, has successfully raised $50 million in a funding round, bringing its valuation to $2.5 billion. The startup operates a B2B marketplace that supplies construction materials and leverages technology to enhance quality control and supply chain transparency. The investment round was led by MARS Unicorn Fund.
Dublin-based Spectrum.Life, a startup established six years ago, has secured $18.5 million in funding. The company provides employees with access to a comprehensive suite of services, including counseling, fitness, nutrition, and lifestyle content. The investment was led by Act Venture Capital.
Supervizor, a startup with dual headquarters in New York and Paris, specializes in automated auditing technology to detect financial errors, fraud, and inefficiencies. The eight-year-old company raised $22 million in a funding round led by Orange Ventures, with additional investments from Wille Finance, La Maison Partners, New Alpha Asset Management, Adelie Capital, and ISAI.
San Francisco-based Transcend, a seven-year-old startup focused on helping businesses manage user data privacy and comply with regulations such as GDPR and CCPA, has raised $40 million in a Series B round. The funding round was led by StepStone Group, with participation from HighlandX, Accel, Index Ventures, 01 Advisors, Script Capital, and South Park Commons. This brings the company’s total funding to nearly $90 million.
Coinflow, a Chicago startup established two years ago, offers a payment platform for web3 companies, enabling them to accept traditional payment methods like credit cards and facilitating the conversion of cryptocurrency to bank accounts. The company raised $2.3 million in a seed round led by CMT Digital, with contributions from Reciprocal Ventures, Jump Crypto, Draper Dragon, and Digital Currency Group.
Faircado, a Berlin-based startup, has raised €3 million to advance its browser extension, which aims to be the discovery layer for pre-owned goods. The funding round was led by World Fund, with participation from Accel, General Catalyst, Lightspeed Venture Partners, NEA, Northzone, BackBone Ventures, Earlybird, and Minc accelerator.
Lisbon’s Oscar, a five-year-old startup, offers a mobile app providing a range of fixed-price home services, including maintenance, cleaning, laundry, and beauty services. The company raised $6.5 million in a funding round co-led by Lince Capital and Indico Capital Partners, with additional investments from Failup Ventures, Olisipo Way, Boost Capital Partners, and Quiet Capital.
Q*Bird, a Dutch startup founded two years ago, develops quantum cryptography technology to secure data communications against cyber threats. The company raised $2.7 million in a funding round co-led by QDNL Participations and Cottonwood Technology Fund, with participation from InnovationQuarter.
Private Equity
Hess shareholders approved Chevron’s $53 billion takeover despite a dispute with ExxonMobil over a key asset.
Google-parent Alphabet is considering an all-stock bid for $32.5 billion marketing software firm HubSpot.
T-Mobile agreed to acquire almost all of US Cellular’s wireless operations in a $4.4 billion deal.
Canada’s OMERS is exploring selling a stake in Leeward Renewable Energy that may value the company at approximately $3.5 billion, including debt.
Midstream energy company Energy Transfer agreed to acquire WTG Midstream Holdings in a roughly $3.25 billion cash-and-stock deal.
Private equity firm Energy Capital Partners will acquire Atlantica Sustainable Infrastructure for $2.6 billion in cash.
Prague-based defense firm Czechoslovak Group will acquire Vista Outdoor’s sporting products business for around $2 billion.
Johnson & Johnson agreed to acquire rights to a drug from privately held Numab Therapeutics for approximately $1.3 billion.
Pharma giant Merck is nearing a $1.3 billion cash deal for eye-drug company EyeBio.
Japanese industrial group Asahi Kasei will acquire Swedish biotech Calliditas Therapeutics for around $1.1 billion.
A consortium of KKR and Singtel are frontrunners to buy a $1 billion minority stake in STT Telemedia Global Data Centres.
Bitcoin mining firm Riot Platforms offered to acquire all outstanding shares of smaller peer Bitfarms for around $950 million.
Precision engineering company Nordson agreed to acquire medical device maker Atrion for around $800 million.
KKR will acquire Canadian energy firm Emera’s indirect minority stake in the Labrador Island Link clean energy transmission project for $872 million.
Dutch bank ABN Amro will acquire German private bank Hauck Aufhäuser Lampe from China’s Fosun International for $730 million.
Aerospace components maker TransDigm will acquire test manufacturer Raptor Scientific from private equity firm L Squared Capital Partners for $655 million.
The parent of Brazilian airline Gol started potential merger talks with rival Azul.
Blue Owl Capital and Lunate Capital acquired a minority stake in healthcare private equity firm Linden Capital Partners.
IPO
India’s Adani Enterprises secured board approval to raise up to $2 billion.
Health-care payments software maker Waystar is seeking to raise up to $1.04 billion at a $3.8 billion valuation in a US IPO.
Aluminum producer Novelis is seeking to raise up to $945 million at a $12.6 billion valuation in a US IPO.
Abu Dhabi-based edtech Alef Education is seeking to raise $515 million in Abu Dhabi’s first IPO of 2024.
German wheelchair maker Sunrise Medical is seeking to raise $261 million in a Frankfurt IPO.
New Funds
PE firm Energy Capital Partners raised $6.7 billion for its fifth energy infrastructure-focused fund to invest in clean energy.
Real assets investment firm Pennybacker closed its sixth value opportunity series fund at $1.6 billion.