FTX-backed PayUp agreed to merge with IG Acquisition while multiple corporates participated in Line Man Wongnai’s $265m series B round.
Reverse merger
PlayUp, an Australia-based online betting platform backed by cryptocurrency exchange FTX, has agreed to merge with Nasdaq-listed special purpose acquisition company IG Acquisition Corp. The merger, which is set to close in the first quarter of 2023, will value PlayUp at $350m.
M&A
Veterinary product manufacturer Merck Animal Health has agreed to acquire a portfolio company, Vence. The US-based virtual livestock management service is also backed by oil and gas supplier Shell’s corporate venturing arm, Shell Ventures.
Funding
| Company | Company description | Sector | Country | Round | Rond size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Line Man Wongnai | Food delivery service | Consumer | Thailand | B | 265 | 26/09/2022 | Z Holdings (Line Corporation), Taiwan Mobile, PTT Oil and Retail Business; GIC, Bualuang Ventures, BRV Capital Management |
| SkyDrive | Aerial and drone technology developer | Industrial | Japan | C | 66.5 | 26/09/2022 | Sumitomo Mitsui Trust Bank, SCSK, Kansai Electric Power, Kintetsu Group Holdings, Suzuki, Sompo Japan Insurance, Tokio Marine, Toyoda Iron Works, Nippon Kayaku, NHK Spring, MUFG Bank, Resona Group; Pegasus Tech Ventures |
| Aerodyne | Drone service provider | Industrial | Malaysia | N/A | 30 | 26/09/2022 | Petronas (Petronas Ventures) (lead); Kumpulan Wang Persaraan |
| Hadean | Metaverse infrastructure developer | Media | UK | A | 30 | 26/09/2022 | Epic Games; Molten Ventures (lead), 2050 Capital, Alumni Ventures, Aster Capital, InQTel, Entrepreneur First |
| ChampTitles | Insurance management platform | Financial | US | B | 12.9 | 22/09/2022 | Guidewire Software; EOS Ventures, unnamed others |
| Hume | Web3 music metaverse developer | Media | US | A | 11.7 | 23/09/2022 | TCG (TCG Crypto), Gemini (Gemini Frontier Fund); Collab+Currency, Aloe Blacc, Gmoney, Winklevoss Capital, Noise DAO, Flamingo DAO, LAO DAO, Distributed Global, Rahilla Zafar, Evan Bogart, Cooper Turley |
| Carats & Cake | Financial operating system | Financial | US | A | 10.6 | 22/09/2022 | GMO Internet Group (GMO Venture Partners); 1Sharpe Capital (1Sharpe Ventures) (lead), Founders Fund, Acrew Capital, Moore Capital Management (Moore Specialty Credit), Correlation Ventures, Argosy Capital, SilverCircle |
| Nibiru | Crypto derivative protocol developer | Financial | Sweden | Seed | 7.5 | 23/09/2022 | Kraken; Tribe Capital, Republic Capital |
| BluAge | Provider of real estate efficiency software Canary | Services | Japan | N/A | 6.9 | 26/09/2022 | Yamada Holdings |
| Skip Protocol | Cosmos blockchain transaction system provider | Financial | US | Seed | 6.5 | 22/09/2022 | Jump Trading Group (Jump Crypto), Informal Systems; Bain Capital Crypto (lead), Galaxy, Robot Ventures, Lightspeed Faction, IEX Group, Zaki Manian, Nick White, Jake Hartnell |
| Civ Robotics | Autonomous surveying system provider | IT | US | Seed | 5 | 21/09/2022 | Trimble (Trimble Ventures); FF Venture Capital (co-lead), Alley Robotics Ventures (co-lead) |
| TwitterScan | Web3 decentralised social identification platform | IT | US | Seed | 4.56 | 26/09/2022 | KuCoin (KuCoin Ventures), Huobi Group (Huobi Ventures), Gate Labs, Antalpha (Antalpha Ventures), Cobo (Cobo Ventures), ViaBTC Group (ViaBTC Capital); Redpoint Ventures (lead), Sky9 Capital, UpHonest Capital, Mirana Ventures, Element, NGC, LingFeng Capital, Fenbushi Capital (Fenbushi US), 7upDAO, Redline Dao, CyberConnect, SNZ, SF Capital, MetaStone Capital, OneBoat Capital, BitCoke Ventures, MEXC Ventures, Alchemy Pay, Nstone, YM Capital |
| Samotics | AI predictive maintenance platform | IT | Netherlands | N/A | N/A | 23/09/2022 | ABB |
| Leadrive Technology | Supplier of power semiconductor and motor solutions | Transport | China | C | N/A | 26/09/2022 | Legend Holdings Corporation (Legend Capital) |
| CoreTigo | Industrial wireless automation provider | Telecoms | Israel | N/A | N/A | 23/09/2022 | Emerson Electric (Emerson Ventures) (lead), Qualcomm (Qualcomm Ventures), Verizon (Verizon Ventures); Cardumen Capital, Magma Venture Partners, Meron Capital, Sierra Ventures, Meitav Dash Investments |
| Heroz | Artificial intelligence technology developer | IT | Japan | N/A | N/A | 26/09/2022 | CXR Engineering |
| 4Din | Medical product developer | Healthcare | Japan | N/A | N/A | 26/09/2022 | MedPeer |
| SpendMend | Healthcare industry’s cost optimisation service | Healthcare | US | N/A | N/A | 22/09/2022 | Memorial Hermann Health System; Spectrum Health Ventures |
