Dongfeng Motor spinoff Voyah secured $639m at a valuation topping $4bn while Intel Capital helped AI chip developer Astera raise $150m.

Photo courtesy of Voyah

M&A

Enterprise software producer Salesforce is set to exit ServiceMax, a US-based developer of field service management software, in a $1.46bn acquisition by manufacturing software provider PTC. Its Salesforce Ventures unit was part of a consortium also including private equity firm Silver Lake that invested $80m in the company in early 2020.

Agricultural data provider FarmX is acquiring AutoModality, the US-based creator of an autonomous navigation system for mobile robotics systems like drones, for an undisclosed amount. AutoModality had raised $500,000 from Skyfund, the joint venture for drone manufacturer DJI and venture firm Accel, in 2017, adding $3.8m from industrial drone producer Autonomous Control Systems Laboratory and private equity firm LiteCap two years later.

Funding

Company name Company description Sector Country Round Round size ($) Deal dates Investors
Voyah Electric vehicle brand spun off by Dongfeng Motor Transport China A 639 18/11/2022 Dongfeng Motor, Ganfeng Lithium; Industrial and Commerical Bank of China, Bank of China (Bank of China Financial Asset Investment), Mixed Ownership Reform Fund
Astera Labs Artificial intelligence chip producer  IT US D 150 17/11/2022 Intel (Intel Capital); Fidelity Management & Research (lead), Atreides Management, Sutter Hill Ventures
Xanadu Quantum computing technology developer IT Canada C 100 17/11/2022 Porsche; Georgian (lead), Forward Investments, Alumni Ventures, Pegasus Tech Ventures, Silicon Valley Bank, Bessemer Venture Partners, Capricorn, BDC Capital, Tim Draper
AAICO  Artificial intelligence software developer IT UK N/A 42 17/11/2022 G42; Al Maktoum family
ISEE Self driving technology developer Transport US B 40 17/11/2022 AP Moller (Maersk Growth); Founders Fund (lead), Eniac Ventures, New Legacy 
Soft Robotics Picking robotics technology provider Industrial US C 26 17/11/2022 Tyson Foods (Tyson Ventures), Marel, Johnsonville (Johnsonville Ventures); undisclosed existing investors
SeQure Dx Gene-editing diagnostics technology developer Healthcare US A 17.5 17/11/2022 Mass General Brigham (Mass General Brigham Ventures) (lead)
Upstart Power Solid-oxide fuel cell manufacturer Energy and Natural Resources US C 17 17/11/2022 Itochu (lead), Sunnova; Enphase Energy, Rodgers Capital, H+ Partners, Cricetus Felix Ventures
Elephantech Printed circuit board developer IT Japan N/A 15 17/11/2022 Shin-Etsu Chemical, Eiwa Corporation, Nanobank, Mitsubishi (Mitsubishi Gas Chemical), Kenbishi Sake Brewing, Epson, Sumimoto; Anri, Nose, Shizuoka Capital, D&I Investment, East Ventures, Beyond Next Ventures
Circularise Supply chain tracking platform Services Netherlands A 11.4 17/11/2022 Asahi Kasei, Neste; Brightlands Venture Partners (lead), 4impact Capital, European Commission (grant funding)
Private AI Data protection platform IT Canada A 8 17/11/2022 Microsoft (M12); BDC Capital (lead), GIT1K, Differential Ventures, Forum Ventures, Shasta Ventures, Parliament Angels
Namecoach Pronunciation services provider Services US A 8 17/11/2022 Multiple corporates (Engage VC); Impact America Fund (lead), Authentic Ventures, Ai Sprouts, Metaplanet, Founders Fund, GTM Fund, 640 Oxford, Transcend Network, Asymmetry Ventures, Forefront Venture Partners, Network.VC, Harbor Street Ventures, Seabed VC
Zulu Digital wallet provider Financial Colombia Seed 5 17/11/2022 Nexo (Nexo Ventures), Capital Markets Trading (CMT Digital), Simplex; Cadenza Ventures (lead), Gaingels, Caterine Castillo, Jose Jair Bonilla, Carolina García, Oscar Sarria, Andrew Chang, Man Hei Lou
Anode Labs Energy storage asset network Energy and Natural Resources US N/A 4.2 17/11/2022 CoinShares; Lerer Hippeau (co-lead), Lattice (co-lead), Digital Currency Group, VaynerFund
Solinas Sanitation robotics developer Industrial India N/A <1 ($550,000) 16/11/2022 Weizmann Group (Kotta Enterprises); 8X Ventures, Chetan Mehra, Lister Ventures, Sophonos Investment
Deepsight AI Computer vision software producer IT India N/A <1 ($240,000) 16/11/2022 Peregrine Security
Paicon Digital health startup Healthcare Germany N/A N/A 17/11/2022 Bertelsmann (Bertelsmann Investments)
Next Renewable Fuels Biofuel provider Energy and Natural Resources US N/A N/A 17/11/2022 United Airlines (United Airlines Ventures)
Carbon Engineering Direct-air capture technology developer Energy and Natural Resources US N/A N/A 17/11/2022 Airbus, Air Canada
Fiduciary Exchange Online insurance integration network Financial US B N/A 17/11/2022 Prudential Financial (co-lead), Global Atlantic Financial Group (co-lead), Envestnet
Fixiago Car maintenance and repairs service Transport India Seed N/A 17/11/2022 Alienics; Agility Ventures (lead), Taun Kalra