Financial

The small business fintech platform received backing from PayPal to expand across Latin America.

Migdal and Menora Mivtachim helped renewable energy infrastructure developer Fu-Gen with fresh funding which will help expand its operations in the UK and Finland. This is a deal from the renewable energy space, which continues to see much momentum in the context of energy transition.

Content personalisation technology provider Movable Ink and carbon-negative concrete developer Brimstone each raised $55m, with Intel and Amazon respectively among the investors.

Call centre software producer Replicant closed a $78m series B round backed by Salesforce Ventures while Ashvattha Therapeutics raised $69m from investors including strategic partner Huadong Medicine.

Vishal Gupta, formerly a director at the SoftBank division that oversees its Vision Funds, has joined TA Associates in a similar role.

Sector report: energy Q1 2022

Corporate-backed medical imaging technology producer Lunit is preparing to float in South Korea while cancer drug developer Pheast secured $76m from investors including Alexandria Venture Investments.

Massachusetts Mutual Life's venture capital arm has formed a fourth fund, which will concentrate on European and Asia-Pacific investments.

Yangtze River Pharmaceutical Group led Binhui Biopharm's $47m series B-plus round while Sigfox has been snapped up by UnaBiz for under $30m after raising over $300m.

Web3 security software producer Certik received $60m from investors including SoftBank Vision Fund 2 while corporate-backed automation technology provider Vicarious is being bought after raising over $250m.

Swiggy helped boost Rapido's valuation to $800m in a round that featured Shell Ventures and TVS Motor. This is a deal of a rather surprising size and valuation in a space that has not been as hot over the past years, as far as corporate-backed deals are concerned.