Daily Deal Round Up: December 13, 2022

Reverse merger

Getaround, the US-based car sharing service backed by telecommunications and internet group SoftBank, media and automotive group Cox Enterprises and carmakers SAIC Motor and Toyota, has gone pubic through a reverse merger with New York-listed special purpose acquisition company InterPrivate II Acquisition Corp. The deal was agreed in May this year and valued the combined company at $1.2bn. Getaround had raised almost $600m in venture funding as of its late 2020 series E round.

M&A

Digital business support platform Tecnotree has acquired CognitiveScale, a US-based machine intelligence technology provider backed by financial services firm USAA, computing equipment producer IBM, software provider Microsoft and chipmaker Intel, for an undisclosed amount. USAA and corporate venturing units Intel Capital and M12 (then Microsoft Ventures) all took part in a $15m round in 2017 that lifted CognitiveScale’s total funding to over $50m.

Video game publisher Splash Damage has bought UK-based peer Bulkhead Interactive for an undisclosed amount, allowing entertainment group Square Enix to exit. The corporate paid an undisclosed sum for a 20% stake in Bulkhead in 2018.

Edeka Südwest, a subsidiary of Germany-based supermarket chain Edeka Group, paid an undisclosed sum to purchase portfolio company Bringman, the local operator of a goods collection focused on Edeka stores. Bringman received $1.1m in funding from Edeka Südwest in November 2021.

Business closure

Brodmann17, the Israel-based computer vision technology developer backed by safety technology provider UL and electronics producers Sony and Samsung, has shut down. UL Ventures, Sony Innovation Fund and Samsung Next were all part of an $11m series A round in 2019 that hiked the company’s overall funding to $12.6m.

Funding