IPO
Fuller, a Japan-based provider of mobile app development and analytics services, filed for an initial public offering on the Tokyo Stock Exchange that will allow internet services provider Asahi Net, which owns a 6.3% stake, to exit. Fuller’s other investors include telecommunications firm KDDI, video game and entertainment producer Sega Sammy and travel technology provider Voyage and the IPO is expected to value it at almost $12m.
M&A
Enterprise software producer IFS has is acquiring Poka, the Canada-based developer of a workforce communication platform for the construction industry, in a deal reportedly sized at C$200m ($152m). Poka had raised a total of over $45m as of a 2021 series B round featuring energy technology provider Schneider Electric’s SE Ventures unit and Bosch Ventures, a subsidiary of industrial technology producer Robert Bosch.
Financial services firm Compass Banca agreed to buy portfolio company HeidiPay, a Switzerland-based online lending services marketplace, for an undisclosed sum. The bank paid an undisclosed amount for a 19.5% stake in HeidiPay in October 2022.
Funding
Kobold Metals, a US-based company that uses AI to locate and mine hard-to-find metals, raised $195m from investors including oil and gas provider Equinor (through Equinor Ventures), mining company BHP (through BHP Ventures), industrial group Standard Industries (through Standard Investments) and diversified conglomerate Mitsubishi Corporation at a valuation above $1bn. The round was led by asset manager T Rowe Price and also backed by Andreessen Horowitz, Breakthrough Energy Ventures, Bond, Earthshot Ventures and the July Fund.
| Company name | Company description | Sector | Country | Round | Round Size ($) | Deal date | Corporate Investors | Investors |
|---|---|---|---|---|---|---|---|---|
| Kobold Metals | AI-equipped metals miner | Industrial | US | N/A | 195 | 20/06/2023 | Mitsubishi Corp, Equinor (Equinor Ventures), BHP (BHP Ventures) | T Rowe Price (lead), Andreessen Horowitz, Bond, Standard Investments, Earthshot Ventures, July Fund, Breakthrough Energy Ventures |
| Ruqi Mobility | Ride hailing subsidiary of GAC Group | Transport | China | B | 117 | 22/06/2023 | GAC Group (lead) | N/A |
| Dexcare | Paitent care access platform | Healthcare | US | C | 75 | 21/06/2023 | Kaiser Permanente (Kaiser Permanente Ventures) | Iconiq Capital (Iconiq Growth), Transformation Capital, Define Ventures, Frist Cressey Ventures, SpringRock Ventures |
| CorWave | Heart pump technology developer | Healthcare | France | N/A | 66.9 | 20/06/2023 | Vlerick Group | Bpifrance (SPI Fund) (lead), Exor (Exor Ventures) |
| Tagworks Pharmaceuticals | Precision cancer therapy developer | Healthcare | Netherlands | A | 65 | 22/06/2023 | Novartis (Novartis Venture Fund) | Ysios Capital (co-lead), Gilde Healthcare (co-lead), NEA, Lightstone Ventures, Oost NL |
| Volt | Real-time payment software provider | Financial | UK | B | 60 | 21/06/2023 | CommerzBank (CommerzVentures) | IVP (lead), Augmentum Fintech, EQT (EQT Ventures), Fuel Ventures |
| Attovia Therapies | Biotherapeutics spinoff of Alamar Biosciences | Healthcare | US | A | 60 | 20/06/2023 | Illumina (Illumina Ventures) | Frazier Life Sciences (lead), VenBio |
| N-Drip | Advanced irrigation system developer | Industrial | Israel | C | 44 | 21/06/2023 | Metzerplas Industries | Granot (lead), Kibbutz Ein Harod Ihud, Bridges Israel Impact Fund, unnamed individuals |
| Westgene | mRNA vaccine developer | Healthcare | China | A | 41.8 | 20/06/2023 | Bejing Konnruns Pharmaceuticals, Tigermed Consulting | Chengdu Guanghua Wutong Private Equity Investment Fund |
| Delve Bio | Genomic sequencing platform developer | Healthcare | US | A | 35 | 20/06/2023 | Alphabet (GV) | Perceptive Advisors (PXV Venture Fund) (lead), Section 32 |
| Flux | No code AI platform | IT | Japan | B | 32 | 14/06/2023 | Japan Coinbest, Aozora (Aozora Corporate Investment), Salesforce (Salesforce Ventures), Sony (Sony Innovation Fund), SMBC Nikko Securities, DoCoMo (DoCoMo Ventures) | DNX Ventures, Archetype Ventures, |
| Carbon Recycling Industry (CRI) | CO2-to-methanol system developer | Industrial | Iceland | N/A | 30 | 19/06/2023 | Equinor (Equinor Ventures) (lead), Sjóvá | Gildi, Lífeyrissjóður Vestmannaeyja |
| Turbine | Cell simulation-focused cancer drug developer | Healthcare | Hungary | A | 27.9 (updated) | 20/06/2023 | MassMutual (MassMutual Ventures), Merck & Co (Merck GHI Fund) | XTX Ventures, Delin Ventures, Mercia Asset Management, Day One Capital, Accel |
| Veralox Therapeutics, | Immune-inflammatory disease therapy developer | Healthcare | US | N/A | 24 | 20/06/2023 | Sanofi (Sanofi Ventures) | Pappas Capital, NYBC Ventures, Hatteras Venture Partners, JDRF T1D Fund, Genesys Capital |
| ElevenLabs | AI voice technology developer | Media | US | A | 19 | 20/06/2023 | TheSoul Publishing, Storytel, Embark Studios | Nat Friedman (co-lead), Daniel Gross (co-lead), Andreessen Horowitz (co-lead), Credo Ventures, Concept Ventures, Creator Ventures, SV Angel, Mike Krieger, Brendan Iribe, Anjney Midha, Mustafa Suleyman, Siqi Chen, Ali Albazaz, Dima Shvets, Aravind Srinivas, Guillermo Rauch, Tim O’Reilly |
| Caraway | Gen Z-focused digital healthcare platform | Healthcare | US | A | 16.75 | 20/06/2023 | Alphabet (GV) (co-lead) | Maveron (co-lead), 7wireVentures, Hopelab Ventures, Wellington Access Ventures, Ingeborg Investments, The Venture Collective |
| Augmenta | Building design automation platform | Industrial | Canada | Seed | 15.85 (updated) | 21/06/2023 | Ferguson (Ferguson Ventures) | Eclipse (lead), BDC (BDC Capital Deep Tech Venture Fund), Suffolk Technologies, Hazelview Ventures, Whiteshell Group |
| Soundtrack Your Brand | Music streaming platform | Media | Sweden | N/A | 15 | 16/06/2023 | Telia | Matt Pincus, JS Capital Management, Schusterman Family Investments, Dundee Partners, Balderton Partners, Fuel Venture Capital, Industrifonden, DIG |
| EvolvedMD | Behavioural health services provider | Healthcare | US | A | 14 | 13/06/2023 | Panasonic (Conductive Ventures) (lead) | FCA Venture Partners, Healthworx, Tectonic Ventures, Waterline Ventures. |
| Distran | Ultrasonic camera-based gas leak detection system developer | Industrial | Switzerland | B | 12 | 20/06/2023 | Air Liquide Group (ALIAD), Energie 360° (Smart Energy Innovation Fund) | Zurcher Kantonalbank (Swisscanto Private Equity) (lead), Innosuisse (Swiss Accelerator) |
| Eyemantra | Lasik surgery provider | Healthcare | India | N/A | 10 | 19/06/2023 | Mantracare | N/A |
| Clivi | Diabetes management platform | Healthcare | Mexico | Seed | 10 | 20/06/2023 | Femsa (Femsa Ventures) | Dalus Capital (co-lead), Foundation Capital (co-lead), Cathay Innovation (C. Entrepreneurs fund), Quiet Capital, 500, Next Billion Ventures, Conexo, Ricardo Weder, Adalberto Flores, Suresh Batchu, Ariel Lambrecht, Tara Syed, Vicente Aristegui, Juan Moctezuma |
| Vyoma | Satellite automation technology developer | Industrial | Germany | Seed | 9.3 (updated) | 20/06/2023 | Safran (Safran Corporate Ventures) | appiness Capital, Atlantic Labs, Faber Ventures |
| Maverick Protocol | Decentralised finance infrastructure provider | Financial | US | N/A | 9 | 21/06/2023 | Binance (Binance Labs), Coinbase (Coinbase Ventures) | Founders Fund (lead), Pantera Capital, Apollo Crypto |
| Leadoptik | Developer of medical imaging diagnostics system | Healthcare | US | Seed | 6.6 (updated) | 20/06/2023 | Applied Materials (Applied Ventures), Sony (Sony Innovation Fund) | MetaVC Partners, TSVC, ENEA, SOSV, Arash Ferdowsi, Ray Muzyka |
| Atlis Labs | Developer of computational imagaing medical technology | Healthcare | Canada | Seed | 6 | 21/06/2023 | Debiopharm (Debiopharm Innovation Fund) (co-lead) | Benchstrength (co-lead), Doug Foster, Richard Gliklich |
| Solenic Medical | Prosthetic joint infection treatment developer | Healthcare | US | A | 5.1 | 20/06/2023 | Johnson & Johnson (Johnson & Johnson Innovation – JJDC) (lead) | ShangBay Capital, Highpoint Ventures |
| Arkyn | Asset maintenance software provider | Industrial | Denmark | N/A | 1.5 | 19/06/2023 | Trifork (Trifork Labs) (lead) | N/A |
| Driven Communications | Car buying and reviewing platform | Transport | Singapore | N/A | N/A | 19/06/2023 | Carro | N/A |
