Deal Roundup: eToro finds $250m funding

M&A

Professional services firm Accenture purchased Flutura, an India-based developer of industrial internet-of-things technology, for an undisclosed amount, allowing electronics conglomerate Hitachi to exit. The corporate invested $1m in 2018 through subsidiary Hitachi High-Tech Solutions Corporation following a $7.5m series A round the previous year.

Splyt, a UK-based mobility marketplace backed by corporates SoftBank, American Express and Grab, has been acquired by Kakao Mobility, a subsidiary of internet technology group Kakao, for an undisclosed amount. SoftBank led a $19.5m series B round for the company in 2020 that included corporate venture unit American Express Ventures, bringing its overall funding to $33.5m.

Beauty and personal care product and media company The Good Glamm Group paid an undisclosed sum to buy Bulbulive Shopping Network, an India-based social commerce platform backed by internet company Info Edge. The corporate provided $6.3m in 2020 as part of a reported $14.7m round.

Public markets

Azitra, a US-based skin condition treatment developer backed by pharmaceutical and agricultural product manufacturer Bayer, expects to raise $12m in an initial public offering on NYSE American, the small cap equity market run by the New York Stock Exchange. Bayer owns an 11% stake pre-IPO having invested $8m through its Leaps by Bayer unit to lead a $17m series B round in 2020, doubling the total funding for Azitra to $34m.

Funding

Israel-based online share trading platform eToro raised $250m at a reported $3.5bn valuation, in a round featuring workflow automation software provider Ion Group and telecoms and internet group SoftBank, the latter through its SoftBank Vision Fund 2. They were joined in the round by Velvet Sea Ventures and unnamed others.