Startups

A number of corporate backers scored an exit from trucking services marketplace Full Truck Alliance (Manbang Group), as the latter went public in the US. This transaction exemplifies an upward trend in exits for corporate-backed businesses from the transport and mobility space.

Lithium-ion battery provider Northvold has obtained its latest financing via a private placement co-led by Volkswagen and also backed by Scania.

Neo4j, a US-based provider of graph-centric database and related products, has raised $325m at a more than $2bn valuation in its series F round led by France-based private equity firm Eurazeo.

Monthly analysis: May 2021

Innovative region: South Africa

Sector report: Healthcare

BAT is vying to become a leader in the on-the-go wellbeing and stimulation space through a new corporate venturing unit that has been quietly investing in the space since last summer.

Berkshire Hathaway led a second tranche of a series G round, raised by Nubank, a Tencent-backed virtual bank based in Brazil, at a $30bn valuation.

Etsy is acquiring the Gen Z-focused social commerce platform Depop, giving an exit to Lumar. The transaction and its large size may be indicative of a potential momentum for exits from emerging enterprises in this space.

AI-based online tutor developer Riiid raised a sizeable $175m round from SoftBank. Riiid is part of the broader edtech space, which has been given much attention by corporate investors in recent years.

The gamification of life continues, just updated for the modern world it seems.