Battery recycler Ascend Elements and Geely spinoff Farizon each raised $300m while Saudi Aramco launched a $1.5bn Sustainability Fund.
M&A
Electric scooter rental service Helbiz has agreed to merge with Wheels Labs, a US-based peer backed by electronics manufacturer TDK. Wheels had reportedly raised over $96m as of April 2021.
Fund
Aramco Ventures, a corporate venturing subsidiary of Saudi Arabia-based oil and gas producer Saudi Aramco, has formed a $1.5bn vehicle to back energy transition technology developers. Areas of interest for Aramco’s Sustainability Fund include carbon capture and storage, greenhouse gas emissions, energy efficiency, digital sustainability, hydrogen, ammonia and synthetic fuels.
Funding
| Company | Company description | Sector | Country | Sector | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Farizon Auto | New energy commercial vehicle spinoff of Geely Holding | Transport | China | Pre-A | 300 | 26/10/2022 | Global Logistics Properties (Hidden Hill Capital) (lead), Alibaba (Transfar); Citic Securities Investment, Industry Foundation of Xiangtan, Mirae Asset, GLy Capital |
| Ascend Elements | Battery recycler and upcycler | Energy and Natural Resources | US | C | 300 | 27/10/2022 | SK Group (SK Ecoplant), Lithium Americas Corporation, Hitachi (Hitachi Ventures), Jaguar Land Rover (InMotion Ventures), TDK (TDK Ventures), Orbia (Orbia Ventures), Trumpf (Trumpf Venture), Doral (Doral Energy-Tech Ventures); Fifth Wall (Fifth Wall Climate Fund) (lead), At One Ventures, Oman Investment Authority, Gly Capital Management, Mirae Asset (Mirae Asset Capital & LS), Shinhan Financial Group (Shinhan GIB) |
| Trigo | AI-powered frictionless retail platform | Consumer | Israel | N/A | 100 | 26/10/2022 | SAP, Rewe Group; Temasek (lead), 83North, Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola |
| New Dimension Systems | Industrial software developer | Industrial | China | N/A | 97 | 26/10/2022 | SoftBank (SoftBank China Venture Capital); Temasek (Vertex Ventures), China State Development & Investment Corporation (SDIC Venture Capital), Chengdu F&D Equity Investment, Bohai Industrial Investment Fund, Shenzhen Hui Captial |
| SiMa.ai | Machine learning platform developer | IT | US | B1 | 67 | 26/10/2022 | Dell Technologies (Dell Technologies Capital); MSD Partners (lead), Fidelity Management & Research, Amplify Partners, Wing Venture Capital, Alter Venture Partners, +ND Capital, Lip-Bu Tan |
| Floryn | Online lending firm | Financial | Netherlands | N/A | 65.3 | 26/10/2022 | NatWest |
| OTI Lumionics | Consumer electronics materials manufacturer | Industrial | Canada | B | 55 | 26/10/2022 | LG (LG Technology Ventures), Samsung (Samsung Venture Investment Corporation), Universal Display Corporation (UDC Ventures); Anzu Partners, The Family Office of Lee Lau |
| Reap | Web3 payment platform developer | Financial | China | N/A | 40 | 26/10/2022 | Payment Asia, Wanxiang (HashKey Capital); Acorn Pacific Ventures (lead), Arcadia Funds, Hustle Fund, Fresco Capital |
| Gokomodo | Agricultural supply chain platform | Industrial | Indonesia | A | 26 (updated) | 27/10/2022 | Sinar Mas (Sinar Mas Digital Ventures); East Ventures (Triputra Agro Persada) |
| Valence Security | Security remediation software provider | IT | US | A | 25 | 26/10/2022 | Microsoft (M12), Porsche (Porsche Ventures), Akamai Technologies; YL Ventures, Alumni Ventures, Michael Fey |
| Ionblox | Lithium-ion battery cell developer | Energy and Natural Resources | US | B | 24 | 26/10/2022 | Lilium, Applied Materials (Applied Ventures); Catalus Capital, unnamed investment firm |
| AgroSpheres | Healthy crop product provider | Industrial | US | B | 22 | 25/10/2022 | UM6P/OCP Group (Bidra Innovation Ventures), Wilbur Ellis (Cavallo Ventures); Lewis & Clark AgriFood (lead), Ospraie Ag Science |
| Ask-AI | Enterprise information platform for employees | IT | Israel | Seed | 9 | 25/10/2022 | Web Summit; Temasek (Vertex Ventures) (co-lead), State of Mind Ventures (co-lead), Firsthand Fund, GTMFund, Interplay Ventures, Gefen Capital, AGP, Guidestar, Ran Sarig, Efi Cohen, Barak Goldstein, Yakir Daniel |
| Memorable AI | Visual asset analytics platform | IT | UK | Pre-Seed | 2.75 | 25/10/2022 | Bertelsmann (Bertelsmann Digital Media Investments); LDV Capital (lead), TenOneTen Ventures, AperiamVentures, unnamed angel investors |
| Kollider | Bitcoin-based derivatives exchange platform | Financial | UK | Seed | 2.35 | 27/10/2022 | Alameda Research (Alameda Ventures), OKX; Lemniscap (lead), Castle Island Ventures, Polychain Capital, Pfeffer Capital, unnamed others |
| Jago | Mobile café technology provider | Consumer | Indonesia | Pre-A | 2.2 | 27/10/2022 | CyberAgent (CyberAgent Capital); Intudo Ventures (lead), Beenext, Arkblu Capital |
| Frame00 | Operator of software developer-focused crypto monetisation service Dev Protocol | Financial | Japan | Pre-A | 1.7 | 26/10/2022 | Sky Perfect JSAT, Rikka; GMJP (lead), B Dash Ventures, 01Booster Capital |
| GFit | Developer of currency exchange management software | Financial | Japan | N/A | 1.6 | 27/10/2022 | Mynavi; W Fund (lead), The Creative Fund |
| Klink Finance | Gamified digital asset management platform | Media | UK | Pre-seed | <1 ($500,000) | 25/10/2022 | United Overseas Bank (UOB Venture Management); Blockchain Founders Fund (lead), Signum Capital, TechMeetsTrader, StartupGym |
| Sepio | Asset risk management company | Financial | US | B | N/A | 25/10/2022 | Citi (Citi Ventures); Bess Ventures, Stanford University, World Trade Ventures, Slavik Markovich, Mark Wassersug |
| Fistbump | Operator of legal case chart platform CloudBalance | Services | Japan | N/A | N/A | 27/10/2022 | Chugoku Bank (Chugin Capital Partners); Light Up Ventures |
