Constuction materials marketplace RenoRun's $142m Schneider Electric-backed series B round headed up some large rounds for Canadian companies also including League and Ekona Power.

Funding RenoRun, the Canada-headquartered operator of an online marketplace for construction and building materials, completed a $142m series B round yesterday featuring energy and automation equipment producer Schneider Electric’s SE Ventures unit. The corporate was joined by BDC Capital’s Women in Technology and Growth Venture Co-Investment Funds, Investissement Quebec, Fifth Wall, Desjardins Capital, Nicola Wealth, Export Development Canada, TriplePoint Capital and existing backers including ScaleUp Ventures, Obvious Ventures, Inovia Capital, Real Ventures, Maple VC and Silicon Valley Bank. Mobile semiconductor technology producer Qualcomm took part in US-based television marketing software provider MNTN’s $119m series D round yesterday. Funds and accounts managed by BlackRock co-led the round with investment and financial services group Fidelity – the two committing $110m of the capital – and it also featured Baroda Ventures, Greycroft Partners, Mercato Partners and Rincon Venture Partners. Oil and gas supplier Saudi Aramco paid an undisclosed amount to purchase a 7.4% stake in Norway-headquartered industrial data software provider Cognite yesterday. The corporate’s Aramco Overseas Company subsidiary acquired all the shares held by Aker BP, a joint venture for petroleum provider BP and industrial investment firm Aker. Cognite had previously raised a total of $225m from technology investment firm TCV and venture capital firm Accel, and was valued at $1.6bn as of May 2021, a figure which would place Aramco’s investment at about $118m. League, a Canada-based provider of healthcare engagement software, received $95m in series C funding yesterday from investors including staff and payroll management software provider Workday’s corporate VC unit, Workday Ventures. The round was led by investment firm TDM Growth Partners and also backed by unnamed existing investors that could include Telus, the telecommunications firm which took part in a $47m series B round in 2018 boosting League’s overall funding to $76m. Storage product manufacturer Iris Ohyama provided ¥10bn ($87.4m) in funding for SoftBank Robotics Group, a robotics technology subsidiary of internet and telecommunications group SoftBank, today through a strategic partnership agreement. The companies had formed a joint venture known as Iris Robotics in February 2021. Austria-headquartered microdrink brand Waterdrop secured €60m ($67.6m) yesterday in a series B round that included Bitburger Ventures, the VC affiliate of brewery group Bitburger. Singapore state-owned investment firm Temasek led the round, which also featured Founders Future – like Bitburger Ventures, an existing investor. Energy technology producer Baker Hughes led a C$79m ($62.2m) funding round for Canada-based hydrogen production technology developer Ekona Power yesterday that included power producer TransAlta, diversified conglomerate Mitsui, steel…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.