Allianz and White Mountains Insurance helped Pie Insurance raise $315m while Cargill and ADM chipped into Innovafeed‘s $250m series D round.
Funds
US-headquartered technology event promoter Web Summit is seeking a total of $40m for two funds under the Web Summit Ventures banner, TechCrunch reported yesterday, citing unnamed sources. The capital will be equally split between a Web Summit Ventures Seed fund which will invest up to series A and a vehicle dubbed Web Summit Ventures Growth that will back companies at series B stage and later.
Door manufacturer Masonite International Corporation has contributed €5m ($5m) to Circular Innovation Fund, a venture capital vehicle formed by cleantech-focused investment firms Cycle Capital and Demeter to back companies in the circular economy at growth stage. The fund’s existing limited partners include cosmetics producer L’Oréal.
Funding
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Pie Insurance | Workers’ insurance provider | Financial | US | D | 315 | 21/09/2022 | Allianz (Allianz X), White Mountains Insurance Group; Centerbridge Partners (lead), Gallatin Point Capital, Greycroft, Acrew Capital |
| Innovafeed | Insect-based animal and plant feed maunfacturer | Industrial | France | D | 250 | 20/09/2022 | Cargill, ADM; Qatar Investment Authority (lead), Creadev, Temasek, Future French Champions, ABC Impact, IDIA Capital Investissement, Grow Forward |
| SpinLaunch | Space launch technology developer | Industrial | US | B | 71 | 21/09/2022 | Alphabet (GV); ATW Partners (lead), Kleiner Perkins, Atma Capital, ONA Capital, Lauder Partners, McKinley Capital, Tyche Partners, John Doerr, Brook Byers, Asher Delug, Chuck Brady, Andrew Farkas, Greg McAdoo |
| Sardine | Fraud and instant settlement platform | Financial | US | B | 51.1 | 20/09/2022 | Visa, Alphabet (Google Ventures), National Bank of Canada (NAventures) ING (ING Ventures), ConsenSys, Cross River Bank (Cross River Digital Ventures), Uniswap (Uniswap Labs Ventures); Andreessen Horowitz (Andreessen Horowitz’s Growth Fund) (lead), XYZ, Nyca Partners, Sound Ventures, Activant Capital, Eric Schmidt, Vikram Pandit, The General Partnership, Alloy Labs |
| Bobble.ai. | Indian language keyboard provider | Services | India | N/A | 25.7 | 20/09/2022 | Krafton |
| Movellus | Integration system provider for edge AI devices | IT | US | B | 23 | 20/09/2022 | SK Group (SK Hynix), Intel (Intel Capital); Mesh, Accelerate Blue Ventures (Accelerate Blue Fund), Candou Ventures, Hui Capital, In-Q-Tel, Michigan Capital Network, Stata Ventures |
| CytoReason | Human body-focused computational model developer | Healthcare | Israel | N/A | 20 | 20/09/2022 | Pfizer |
| PassiveLogic | Provider of autonomous building control systems | Industrial | US | N/A | 15 | 20/09/2022 | Nvidia |
| Brelyon | Metaverse display technology developer | Media | US | A | 15 | 20/09/2022 | Lockheed Martin (Lockheed Martin Ventures) (lead), Corning, LG (LG Technology Ventures), Universal Display Corporation (UDC Ventures); E14 Fund, Franklin Templeton |
| Datamaran | ESG-focused risk management software provider | IT | UK | B | 13.2 | 20/09/2022 | Fortive (lead), American Electric Power |
| Elevatus | HR interview and recruitment software provider | Services | UAE | A | 10.5 | 21/09/2022 | Saudi Aramco (Wa’ed Ventures) (co-lead); Global Ventures (co-lead), Jasoor Ventures |
| Alitheon | Optical AI technology developer | IT | US | A | 10 | 20/09/2022 | BMW (BMW i Ventures) (lead); Imagine Ventures |
| Sweetch Energy | Salt water-derived electricity producer | Energy and Natural Resources | France | N/A | 5.9 | 20/09/2022 | EDF (EDF Hydro) (lead), CNR; Go Capital, Demeter Investment Managers, Future Positive Capital |
| DynamoFL | Machine learning data privacy provider | IT | US | Seed | 4.15 | 20/09/2022 | Samsung (Samsung Next); Nexus Venture Partners (lead), Y Combinator, Cathexis Holdings (Cathexis Ventures), Soma Capital. Merus Capital, Global Founders Capital, Liquid 2 Ventures, Outset Capital, Basis Set |
| MedGeo Ventures | Medical career exploration platform | Healthcare | US | N/A | 4 | 21/09/2022 | Jackson Healthcare (Jackson Physician Search) (lead) |
| Operant Networks | Energy company-focused network service provider | IT | US | Seed | 3.8 | 20/09/2022 | Exelon (Constellation Technology Ventures) (lead); Thin Line Capital, Marin Sonoma Impact Ventures |
| Kaiko Systems | Maritime digitisation technology producer | Services | Germany | Seed | 1.9 | 21/09/2022 | Schoeller Holdings (Columbia Shipmanagement); Vineta Ventures, A-Round Capital, Flagship Founders, Clasen Rickmers, Justus Kniffka, |
| Octarine Bio | Synethic biology technology developer | Healthcare | Denmark | Pre-A | 1.9 | 20/09/2022 | Royal DSM (DSM Venturing) (co-lead); Oskare Capital |
| Sharedine | On-demand chef service | Services | Japan | A | N/A | 21/09/2022 | Mitsui Sumitomo Insurance (Mitsui Sumitomo Insurance Venture Capital), All About, Enigmo; Development Bank of Japan (DBJ Capital) (lead), Coral Capital, unnamed angel investors |
