Telefónica participated in a $136m round for Raylo while Novartis helped Alto Neuroscience hike its series B to $60m.

Turned-on Phone Displaying Collections Book

M&A

FleetCor Technologies, a provider of ommercial fleet payment tools, acquired portfolio company Mina, the UK-based operator of an electric vehicle charging service, for an undisclosed sum. It invested in a 2021 round reportedly valuing Mina at $8.3m, before adding an undisclosed amount 10 months later.

Molecular diagnostics technology developer Sherlock Biosciences paid an undisclosed amount to purchase Sense Biodetection, a UK-based peer backed by industrial and chemicals group Koch Industries. The corporate took part in a series B round Sense Bio closed at $65m in late 2021, pushing its overall funding past $79m.

Energy sector analytics platform Energy Aspects bought UK-based oil data aggregator OilX in a deal of undisclosed size, allowing corporates Signal Group, GS Caltex and Citi to exit. OilX was incubated in the venture studio of Signal acclerator Signal Ventures before raising $2.2m from Citi and GS Caltex in 2020.

Recount Media, the US-based owner of politics-focused digital media platform The Recount, was acquired by social news platform The News Movement for an undisclosed amount. It had collected a total of $31m from investors including broadcaster ViacomCBS and Burda Principal Investments, part of media group Hubert Burda as of mid-2021.

Public markets

Structure Therapeutics, a US-based cardiovascular, metabolic and pulmonary therapy developer backed by drug development software producer Schrodinger and pharmaceutical firms WuXi AppTec and Eli Lilly, set the terms for an initial public offering on the Nasdaq Stock Exchange expected to raise between $116m and $134m.

Funding

Raylo, the UK-based operator of a rental subscription service for electronic devices, raised $136m in funding from investors including telecommunications firm Telefónica. The equity portion of the round was filled out by Octopus Ventures, Macquarie Capital and Guy Johnson while debt financing was supplied by NatWest and Quilam Capital.

Company Company description Sector Country Round Round size($m) Deal date Investors
Alto Neuroscience Psychiatric medicine developer Healthcare US B 60 (updated) 30/01/2023 Novartis; Alpha Wave Ventures (lead), Sobrato Capital, Lightswitch Capital, Alkeon Capital, Valor Equity Partners, Korify Capital, Vine Ventures, Gaingels, Apeiron Group, WhatIf Ventures, Windham Venture Partners, K2 HealthVentures 
Clearsense Healthcare data management platform Healthcare US D 50 31/01/2023 UPMC (UPMC Enterprises); HealthQuest Capital (lead), Health Catalyst Capital
Ronovo Surgical Robotic and digital surgery technology developer Healthcare China N/A 50 01/02/2023 Eli Lilly (Lilly Asia Ventures); LongRiver Investments (lead), Vivo Capital, Matrix Partners China, GGV Capital
Tado° Home thermostat producer Energy and Natural Resources Germany N/A 46.9 26/01/2023 Noventic, Zürcher Kantonalbank; Trill Impact (Trill Impact Ventures) (lead), Förderbank Bayern (Bayern Kapital), Kiko Ventures, Swisscanto, Target Partners, unnamed existing investors
Phantom AI Autonomous driving platform developer Transport US C 36.5 01/02/2023 Samsung (Samsung Ventures), KT Group (KT Investment); Renaissance Asset Management, InterVest, Shinhan GIB
Craft Enterprise intelligence software provider IT US B 32 01/02/2023 ServiceNow (ServiceNow Ventures); Balyasny Asset Management (BAM Elevate) (lead), Greycroft, Uncork Capital, High Alpha, Point Field Partners, Frederic Kerrest, Stacey Epstein, Edith Harbaugh
Sentra Provider of cloud data security technology IT Israel A 30 31/01/2023 Munich Re (Munich Re Ventures), Xerox (Xerox Ventures); Standard Investments (lead), Moore Strategic Ventures, Int3, Bessemer Venture Partners, Zeev Ventures
Risilience Climate analytics technology provider IT UK B 26 01/02/2023 National Grid (National Grid Partners); Quantum Energy Partners (Quantum Innovation Fund) (lead), IQ Capital
Ribon Therapeutics Small molecule cancer therapy developer Healthcare US N/A 25 30/01/2023 Pfizer
NT-Tao Nuclear fusion energy reactor developer Energy and Natural Resources Israel A 22 01/02/2023 Delek (lead), Honda; NextGear Ventures, Grantham Foundation, OurCrowd
Coverflex Provider of employee benefits management tools Services Portugal A 16.4 01/02/2023 Scor (Scor Ventures) (lead), MS&AD; Breega, Armilar Venture Partners, Stableton Financial, Big Start Ventures, Shilling VC, Firmin Zocchetto, Job van der Voort, Nuno Sebastião, Humberto Ayres Pereira, Hugo Arévalo, Alessandro Petazzi, Davide Dattoli, undisclosed others
Spark Advisors Retirement benefits navigation service Financial US A 15 30/01/2023 American Family Insurance (American Family Ventures) (lead); Insiders Primary Ventures, Torch Capital, Vine Ventures
HySiLabs Hydrogen transport and storage technology developer Energy and Natural Resources France A 14.2 02/02/2023 Equinor (Equinor Ventures) (lead), EDP (EDP Ventures), PLD Automobile; European Innovation Council Fund, Kreaxi, Région Sud Investissement, CAAP Création
Orbital Sidekick Developer of satellite monitoring technology for oil and gas pipelines Industrial US N/A 10 31/01/2023 Williams Oil Company, Oneok; Energy Innovation Capital (lead), University of Minnesota (university endowment), 11.2 Capital, Syndicate 708, US Central Intelligence Agency (In-Q-Tel)
Passthrough Atomation software provider for fund investment agreements Financial US A 10 01/02/2023 Motley Fool (Motley Fool Ventures); Positive Sum (lead), Broadhaven Ventures, Company Ventures, Great Oaks VC
Jetpack.io Cloud-based app development platform IT US Seed 10 01/02/2023 Alphabet (GV); Coatue
Enteligent Developer of solar power-based electric vehicle charging technology Energy and Natural Resources US N/A 7 02/02/2023 Saint-Gobain (Nova) (co-lead); Taronga Ventures (co-lead)
Tigerbeetle Financial accounting database provider Financial US Seed 6.4 30/01/2023 Coil; Amplify Partners (lead)
Pigmentum Plant-based genetic modification technology developer Energy and Natural Resources Israel Seed 6 25/01/2023 Tempo, Tnuva; Kibbutz Yotvata (lead), Arkin Holdings, OurCrowd
C-mo Medical Solutions Cough monitoring system developer Healthcare Portugal Seed 5.2 31/01/2023 Boehringer Ingelheim (Boehringer Ingelheim Venture Fund) (lead); Novalis Lifesciences, Portugal Ventures, High-Tech Gründerfonds
Immunosens Immunosensor device developer Healthcare Japan B2 3.9 02/02/2023 Kirin (Kirin Health Innovation Fund), Sumitomo Pharma Animal Health, Toppan, Mitsubishi Materials (MMC Innovation Fund), undisclosed corporate investor; Bank of Ikeda/Senshu Bank (Senshu Ikeda Capital), Kiyo Bank (Kiyo Capital Management), Resona Bank (Resona Capital), Sumitomo Mitsui Banking Corporation (SMBC Venture Capital); Japan Finance Corporation (debt)
Rysk Finance Decentralised finance-based on-chain market protocol developer Financial US Pre-seed 1.4 31/01/2023 Encode Club, Manifold Trading; Lemniscap (lead), Ascensive Assets, Starbloom, Yunt Capital, Hype.eth, Ivangbi, Windra Thio
Polemix Web3-based opinion video sharing platform Media US N/A 1 01/02/2023 Globant (Be Kind Tech Fund)
Abhinay Maths Exam preparation app developer Services India N/A N/A 02/02/2023 Classplus
Insight Technology Enterprise data governance platform IT Japan A N/A 02/02/2023 JMC; Miraitronc
Edison Fu

Edison Fu is head of Asia development at Global Corporate Venturing.