SoftBank contributed to a $700m round for sports memorablia retailer Fanatics while Drata, ShopBack and First Mode each notched up $200m.
Funds
France-headquartered venture capital firm Iris Capital reached a €110m ($115m) first close for its Iris Venture IV fund, raising cash from limited partners including telecommunications firm Orange and public relations firm Publicis. Iris has set a €150m target for its final close.
M&A
Public sector-focused cloud software provider GTY Technology Holdings paid an undisclosed amount to acquire US-based public sector bidding marketplace DemandStar, allowing Advance Venture Partners (AVP), the VC partner of media group Advance, to exit. DemandStar had raised $2m in a June 2020 seed round led by Version One Ventures that included AVP and Forefront Venture Partners.
Public Markets
X Energy Reactor Company, a US-based developer of small modular nuclear reactors, agreed a reverse takeover with Ares Acquisition Corporation, a special purpose acquisition company (SPAC) listed on the New York Stock Exchange, at a pre-money valuation of $2bn. The deal will be boosted by $75m in financing from the SPAC sponsor, Ares Management, and $45m from energy producer Ontario Power Generation and Segra Capital Management. The company named chemical producer Dow and electronics manufacturer Curtiss-Wright Corporation as existing investors.
US-based solar and energy storage technology producer Tigo Energy is set to list on the Nasdaq Capital Market in a reverse merger with a SPAC called Roth CH Acquisition valuing it at $600m pre-merger. It had raised a total of over $147m from investors including communication equipment manufacturer Inventec Appliances and solar energy product maker SMA Solar as of January 2021.
Funding
| Company name | Company description | Sector | Country | Round | Round Size ($) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Fanatics | Online sports memorabilia and apparel retailer | Consumer | US | N/A | 700 | 06/12/2022 | SoftBank; Clearlake Capital (lead), LionTree, Silver Lake, Fidelity |
| Drata | Digital compliance platform developer | IT | US | C | 200 | 07/12/2022 | Salesforce (Salesforce Ventures), SentinelOne (S Ventures); Iconiq Capital (Iconiq Growth) (co-lead), GGV Capital (co-lead), Alkeon Capital, Cowboy Ventures, Silicon Valley CISO Investments, Operators Guild (FOG Ventures), Jeff Weiner, Frank Slootman, Jennifer Tejada, Olivier Pomel, Jonathan Rubinstein, Satya Nadella |
| ShopBack | Digital retail cashback service | Financial | Singapore | F | 200 (updated) | 08/12/2022 | Westpac; Temasek (65 Equity Partners), Asia Partners, January Capital |
| First Mode | Hydrogen cell technology developer | Energy and Natural Resources | US | N/A | 200 | 07/12/2022 | Anglo American |
| Oda | Grocery delivery service | Consumer | Norway | N/A | 151 | 06/12/2022 | SoftBank (SoftBank Vision Fund), Prosus; Kinnevik, Verdane, Summa Equity, Rasmussen Group |
| Wasabi Technologies | Hot cloud storage provider | IT | US | D | 140 (updated) | 07/12/2022 | Saudi Aramco (Prosperity7 Ventures); Azura (lead), SiS Cloud Global Tech Fund 8, L2 Point Management, Cedar Pine, an affiliate of Cerberus Capital Management, Fidelity, Forestay Capital |
| Nornorm | Subscription furnishing service | Consumer | Denmark | N/A | 116 | 07/12/2022 | Inter IKEA Group; Verdane (lead), Philian |
| Sonatus | Automotive software producer | Transport | US | B | 75 | 07/12/2022 | Foxconn (lead) |
| Sound Agriculture | Biochemical agriculture technology developer | Industrial | US | D | 75 | 07/12/2022 | Bayer (Leaps by Bayer), Syngenta (Syngenta Group Ventures), Wilbur Ellis (Cavallo Ventures); BMO Impact Investment Fund (co-lead), Chan Zuckerberg Initiative (co-lead), FootPrint Coalition, S2G Ventures, Fall Line Capital, Northpond Ventures |
| Customcells | Battery cell manufacturer | Energy and Natural Resources | Germany | A | 63 | 08/12/2022 | Porsche; World Fund (lead), Abacon Capital, Vsquared Ventures |
| GoBolt | Sustainable supply chain developer | Services | Canada | C | 55.2 | 07/12/2022 | Ingka Group (Ingka Investments); Yaletown Partners (lead), BDC Capital, Northleaf Capital Partners, Whitecap Venture Partners, MIG Group, Export Development Canada, Bank of Montreal (BMO Capital Partners) |
| ZincFive | Nickel-zinc battery manufacturer | Energy and Natural Resources | US | D | 54 | 06/12/2022 | Standard Industries; Helios Climate Ventures (lead), Senator Investment Group, OGCI Climate Investments, Japan Energy Fund |
| 15five | Holistic performance management platform | Services | US | C | 52 (updated) | 07/12/2022 | ServiceNow, Siemens (Next47); Quad Partners, Origin Ventures, Edison Partners, Matrix Partners, Point Nine Capital, New Ground Ventures |
| UnaBiz | Internet-of-things service provider | IT | Singapore | B | 50 (updated) | 08/12/2022 | Thai Oil; Sparx Group (lead), Optimal Investments, CDIB Capital, GK Goh Holdings |
| Pace | Buy now, pay later platform | Financial | Singapore | A | 46 (updated) | 08/12/2022 | Marubeni (Marubeni Ventures), UOB (UOB Venture Management); Temasek (Vertex Ventures Southeast Asia & India), Mindful Wealth, Taufiq Fund, Atinum Partners, AppWorks, Alpha JWC, Genesis Alternative Ventures |
| Ubie | AI-based symptom checking tool developer | Healthcare | Japan | C | 45 (updated) | 08/12/2022 | Sogo Medical, Rakuten (Rakuten Capital), NEC (NVenture Capital), Dai-ichi Life, Suzuken; Shoko Chukin Bank, Japan Finance Corporation, Mizuho Bank, AAIC Investment, Japan Impact Investment II Limited Partnership, Norin Chukin Bank (Norinchukin Capital), Egg Forward |
| MarginEdge | Restaurant management software producer | Financial | Canada | C | 45 | 07/12/2022 | IGC Hospitality, Fiserv; Ten Coves Capital (lead), Derive Ventures, Schooner Capital, Osage Venture Partners, Relish Works |
| Second Front Systems | National security software provider | IT | US | A | 32 | 07/12/2022 | Boeing/AE Industrial Partners (AEI HorizonX) (co-lead); Moore Strategic Ventures (co-lead), Artis Ventures, 8VC, Gula Tech Adventures, Abstract Ventures, Pallas Ventures, Gaingels, Kleiner Perkins |
| Rejoni | Medical hydrogel producer | Healthcare | US | B | 25 | 07/12/2022 | Ascension (Ascension Ventures); Catalyst Health Ventures (lead) Delos Capital, Sparta Group, Amed Ventures, Iyengar Capital Partners. |
| Docket | Document analysis software provider | IT | Brazil | B | 22 | 07/12/2022 | Gerdau (Gerdau Next Ventures), Inovabra, Telefonica (Wayra); TM3 Capital, Valor Capital Group, OneVC |
| Onomotion | Last-mile delivery service | Services | Germany | A | 22 | 06/12/2022 | Proeza (Proeza Ventures); European Innovation Council, GLS Bank, Zu na mi |
| Lokavant | Clinical trial intelligence provider | Healthcare | US | N/A | 21 | 07/12/2022 | Roivant Sciences; Edison Partners (lead) |
| Maergo | Green shipping services provider | Services | US | Seed | 20 | 08/12/2022 | Ryder System (RyderVentures); Deep Lake Capital (lead), CR Strategic Credit |
| Klavi | Open banking software producer | Financial | Brazil | A | 15 (updated) | 18/11/2022 | Lojas Renner (RX Ventures), Vivo (Vivo Ventures), Banco BV, BV Bank; CIP, GSR Ventures, Iporanga Ventures, Parallax Ventures |
| Strangeworks | Quantum computing software developer | IT | US | A | 14.75 | 06/12/2022 | Hitachi (Hitachi Ventures); Charles Stonehill, Robert Beauchamp |
| Calo | Personalised meal subscription platform | Consumer | Bahrain | Pre-A | 13 | 06/12/2022 | Saudi Telecom (STV) (co-lead), Al Faisaliah Group; Nuwa Capital (co-lead), Khwarizmi Ventures, AlRajhi Family Office |
| Vaultree | Data encryption technology producer | IT | Ireland | A | 12.8 | 07/12/2022 | SentinelOne; Molten Ventures (co-lead), Ten Eleven Ventures (co-lead), Elkstone Partners, CircleRock Capital, Cyber Club London |
| Carputty | Automotive finance provider | Financial | US | A | 12.3 | 07/12/2022 | Porsche (Porsche Ventures); Fontinalis Partners (co-lead), TTV Capital (co-lead), Grand Ventures, Kickstart Fund |
| Perennial | Decentralised trade derivative protocol developer | Financial | US | Seed | 12 | 07/12/2022 | Coinbase (Coinbase Ventures); Polychain Capital (lead), Variant, Archetype, Scalar Capital, Robot Ventures, A.Capital, various angel investors |
| Jellagen | Jellyfish collagen biomaterial developer | Healthcare | UK | A | 10.5 | 08/12/2022 | Thai Union; Cardiff Capital Region (lead), Development Bank of Wales |
| Syncfy | Open finance software provider | Financial | US | Seed | 10 | 06/12/2022 | XBTO (XBTO Humla Ventures); Point72 Ventures (lead), JAM Fund, Ausum Ventures, Avalancha Ventures, FJ Labs, Mantis Venture Capital, Brock Pierce, Hartmut Neven |
| Avalon | Hygiene product subsidiary of Avalon Group | Healthcare | China | Pre-A | 9 | 06/12/2022 | SoftBank (SoftBank Robotics Group), Cyberport (Cyberport Macro Fund) |
| Tea | Open-source blockchain toolkit developer | IT | Puerto Rico | Seed | 8.9 | 06/12/2022 | StrongBlock, Wax Blockchain; Acuitas Group Holdings (lead), Betaworks Ventures, Percival VC, Round 13 Capital (Round 13 Digital Assets Fund) |
| Dae Hair | Clean haircare brand | Consumer | US | A | 8 | 07/12/2022 | Digital Brand Architects; Verity Venture Partners (lead), Willow Growth Partners, Whitney Port, Aimee Song, Christine Andrew |
| MoveEasy | Home management and moving services provider | Services | US | A | 7 | 08/12/2022 | The Travelers Companies; Moderne Ventures (lead) |
| Harbor Lab | Disbursement account software provider for port operators | Financial | Greece | Seed | 6.4 | 07/12/2022 | Bernhard Schulte (Innoport), Signal Ocean; VentureFriends (co-lead), Speedinvest (co-lead), TheDock, Rainmaking (Motion Ventures), TecPier, Charge VC, Alexandros Chatzielftheriou |
| Eezee | Industrial hardware and supplies marketplace | Industrial | Singapore | A1 | 6.2 | 08/12/2022 | Ayala Group (AG Active Fund I) (lead); Wavemaker Pacific, Insignia Ventures Partners |
| Get Covered | Renters insurance provider | Financial | US | A2 | 6 | 07/12/2022 | State Farm Life (State Farm Ventures), LeFrak; RET Ventures, Wise Ventures |
| Kredito | Small business finance provider | Financial | Chile | N/A | 6 | 01/12/2022 | Grupo Penta; Genesis Ventures, Amarena |
| Panoptic | Decentralised options protocol developer | Financial | Germany | N/A | 4.5 | 05/12/2022 | Uniswap Labs (Uniswap Labs Ventures), Coinbase (Coinbase Ventures), Avalanche Foundation (Blizzard Fund), Jane Street; Gumi Cryptos Capital (lead) |
| Gankster | Esports team management platform | Media | Israel | Seed | 4.25 | 07/12/2022 | Overwolf, Samsung (Samsung Next); Bessemer Venture Partners (co-lead), Hetz Ventures (co-lead), Doron Nir, Doron Kagan, Daniel Burns |
| Babelforce | Contact centre software provider | Services | Germany | A | 4.1 | 07/12/2022 | EnBW (EnBW New Ventures) (lead), Talanx Group (Hannover Digital Investments); IBB Ventures |
| AltScore | Lending software developer | Financial | Ecuador | Seed | 3.5 | 07/12/2022 | Arcor/Coca Cola Argentina (Kamay Ventures), CompuSoluciones (CompuSoluciones Ventures); Far Out VC (lead), Caffeinated Capital, Techstars, Unpopular Ventures, BuenTrip Ventures, Lorimer Ventures |
| Rize | Carbon credit finance provider | Financial | France | Pre-Seed | 3.1 | 07/12/2022 | Mirova (on behalf of L’Oreal Fund for Nature Generation) (co-lead), BBVA; Anthemis (co-lead) |
| Kilimo | Irrigation management software developer | Energy and Natural Resources | Argentina | N/A | N/A | 07/12/2022 | Arcor/Coca Cola Argentina (Kamay Ventures) |
| Enkris | Semiconductor material producer | IT | China | C | N/A | 08/12/2022 | Nio (Nio Capital) (co-lead), Meituan (DragonBall Capital) (co-lead), Goertek, 37Games; China Renaissance, Xinke Capital |
| BLCK | Rental arbitrage bidding marketplace | Services | US | Pre-Seed | N/A | 06/12/2022 | Microsoft (Microsoft Black Partners Growth Initiative) |
