Energy

Sector report: Oil and gas

For many of the attendees at the Global Corporate Venturing and Innovation Summit 2021 held late last month in Monterey, California, the conference was their first in-real life (IRL) event since the pandemic effectively stopped them in the first quarter last year after the previous summit.

Corporate-backed communications monetisation technology developer Matrixx Software raised $50m from Francisco Partners while cancer drug developer Abalos took the same in a BIVF-backed round.

SoftBank Vision Fund 2 provided all the capital in an extension to the rooftop solar system installer's latest round, at a $1.1bn valuation.

Bond trading platform developer Trumid raised its latest round, featuring Singapore Exchange, at a $2.4bn valuation. This is one of the latest examples of such multi-million dollar deals from the roaring fintech space.

Solar wafer technology developer NexWafe bagged $45m in a Reliance Industries-led round while BDMI helped hike collectibles marketplace Rally's series B to the same size.

Neurological disease drug developer Axial raised $37.3m from investors including Taiho Ventures while Best Buy is purchasing OSF and Legal & General-backed remote healthcare technology provider Current Health.

Orbia, Koura, Hitachi, JLR, TDK, Doral and Trumpf took part in a second $70m round to be announced by the battery recycling service provider in under a month.

Mobiliar took part in a $35m round for medicine transportation system developer SkyCell while Nice Investment co-led wealth management software provider Fount's $33.4m series C.

Lithium mining process developer Lilac completed its series B round, which received backing from a several corporates. A sizeable round like this has been somewhat rare to see from the mining space, which has been so far somewhat neglected by corporates.

Amdocs and Comcast contributed to deep learning software provider Neural Magic's $30m series A round while packaging producer Creapaper completed a series B featuring Ranpak.