Global venture funding in October 2020, the first month of the final quarter of the year, held steady at $23 billion according to Crunchbase data.
November 10, 2020
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Monthly Funding Recap October 2020
Global venture funding in October 2020 held steady at $23 billion and followed a strong third quarter, according to Crunchbase data. YTD, global venture funding totaled $242 billion, up 4 percent over 2019. Read more on Crunchbase
Image: Qualit Design / Shutterstock.com
VW Truck Unit Traton Finalizes $3.7B Navistar Acquisition Deal
Volkswagen AG's truck unit Traton SE has agreed to pay about $3.7 billion for the outstanding shares of U.S. truck maker Navistar International Corp in a deal announced on Saturday that would extend its reach in North America.. Read more on Reuters
Image: Ink. Drop / Shutterstock.com
Griffin Gaming Partners Raises $235 Million to Invest in Games
Venture capital fund Griffin Gaming Partners has raised $235 million to invest in game companies and related technologies around the world. Griffin Gaming Partners has the largest-announced fund that will focus on investments in companies at the intersection of games, media and entertainment, and technology. Read more on Venturebeat
Image: courtesy of Giffin Gaming Partners
Nuro Lands $500M for Self-Driving Delivery
Nuro, a developer of electric self-driving road vehicles that transport goods instead of people, announced that it is raising $500 million in a Series C round of funding. T. Rowe Price led the financing for the Mountain View, Calif.-based company, with participation from new investors including Fidelity Management & Research Companyand Baillie Gifford. Read more on Crunchbase.com
Image: courtesy of nuro.ai
Push Party Pulls a Reality Bending $200M Valuation
Push Party, a invite-only social network (in the loosest possible definition) that is nothing more than a button to press. This idea and its implementation has somehow garnered a $200 million valuation. Read moreon Forbes
Image: complements of pushparty.app
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U.S. Capital Raising and M&A Highlights
Adobe announced it is acquiring marketing workflow management startup Workfront for $1.5 billion. Bloomberg first reported the sale earlier today. Techcrunch
Ambrx Inc., a clinical-stage biopharmaceutical company, closed a US$200m crossover financing round from backers including Fidelity Management & Research Company LLC. Finsmes
Branford Castle Partners has sold its portfolio company Drew Foam - a custom fabricator of expanded polystyrene foam used in packaging and building products, to Wynnchurch Capital. Yahoo!News
Cellwize Wireless Technologies, a Southlake, Texas-based company focused on mobile network automation and orchestration, raised $32 million in Series B funding led by Intel Capital and Qualcomm Ventures. Crunchbase
Clearlake Capital Group, L.P. announced it acquired Wheel Pros Holdings, LLC in partnership with the Company’s management team. Clearlake
Decibel Therapeutics, a clinical-stage biotechnology company developing gene therapeutics to treat hearing loss and balance disorders, has closed an oversubscribed $82.2M Series D financing led by OrbiMed. VCnewsdaily
Demoflow, a Denver, Colo.-based collaborative remote selling platform, raised $1.6m in seed funding led by FirstMile Ventures. Finsmes
DERMALA, Inc., a consumer dermatology company, announced it closed a $6.73 million Series A financing co-led by Johnson & Johnson Innovation – JJDC, Inc. and True Wealth Ventures. VCAonline
Eko, a cardiopulmonary digital health company, announced $65 million in Series C funding led by Highland Capital Partners and Questa Capital. VCAonline
Falkbuilt, a Calgary-based manufacturer of digital construction components and software, raised up to $20m CAD ($15.3m USD) in Series A financing led by RET Ventures. Finsmes
Great Jones is expanding with a new bakeware line and $1.75 million in new funding from its founders and other restauranteurs. Techcrunch
Kochava has acquired database maker Thalamus to connect ad buyers and vendors in the changing mobile app and games landscape. The acquisition price was not disclosed. Venturebeat
Local Logic, a Montreal-based location intelligence platform for home buyers and real estate professionals, raised a total of $8m CAD ($6.1m US) in equity and debt funding led by GroundBreak Ventures. Finsmes
NextEra Energy Inc, the world's largest producer of wind and solar energy, made a ~$15 billion acquisition offer for U.S power utility Evergy Inc. Reuters
Petrichor Healthcare Capital Management, a PE firm that makes structured investments in the healthcare sector, announced the final close of Petrichor Opportunities Fund I, LP, which was oversubscribed with $410 million in capital commitments. VCAonline
Premium Brands Holdings Corp, the Canadian food producer, and a coalition of Mi’kmaq First Nations said they would buy Clearwater Seafoods Inc, one of the largest shellfish distributors in the country, in a deal valued at about C$1 billion, including debt. Reuters
Priority Power Management, LLC, an energy management services firm, announced the acquisition of Texas Power Consultants, LLC. Oklahoman
Riverstone Holdings LLC announced they entered into a definitive agreement to buy International-Matex Tank Terminals from Macquarie Infrastructure Corporation for total consideration of $2.685 billion. Yahoo!News
Stargazer Pharmaceuticals has raised $57M Series A financing for treating Stargardt Disease. The round came from Novo Holdings, venBio Partners, Canaan Partners and Pontifax. VCnewsdaily
VF Corp. has agreed to buy Supreme, a streetwear fashion label, for $2.1 billion to bolster its portfolio of apparel and footwear brands. Bloomberg
W.R. Grace & Co., a supplier of catalysts to refineries, has received a $4 billion takeover offer from top shareholder 40 North. Yahoo!Finance
Riverstone Holdings LLC announced they entered into a definitive agreement to buy International-Matex Tank Terminals from Macquarie Infrastructure Corporation for total consideration of $2.685 billion. Yahoo!News
International News
Deutsche Bank to Sell IT Unit to Tata as it Trims Staff
Germany's Deutsche Bank has agreed to sell its IT services division Postbank Systems to India's Tata Consultancy Services, it said on Monday. Read more on Reuters Image: Trixcis / Shutterstock.com
Softbank in Talks to Sell Boston Dynamics to Hyundai
SoftBank Group Corp. is in talks to sell robot maker Boston Dynamics Inc. to Hyundai Motor Co.. Proposed terms of the deal would give the South Korean automaker control of the robotics company in a transaction valued at as much as $1 billion. Read more on Bloomberg.com Image: Ascannio / Shutterstock.com
Israeli’s Red Dot Capital Raises $200M For Southeast Asia-Focused Tech Startups
Red Dot Capital Partners has raised close to $200 million to invest in tech companies seeking to expand into Southeast Asia and Japan. Based in Israel, Red Dot Capital Partners focuses on growth-stage tech companies. Read more onPymnts.com Image : Ahmetov Renat / Shutterstock.com
Future Retail To Amazon: Stop Meddling In $3.4B Asset Sale
Future Retail is attempting to prevent partner Amazon from meddling further in its $3.4 billion asset sale deal with Reliance Industries and has challenged the U.S. eCommerce giant in a New Delhi court, Reuters reported. Read more on Pymnts.com Image: BongkarnGraphic/ Shutterstock.com
Deal Making and LP–GP Relations in India
Even during these uncertain times, we see that deal making is again on the rise, and private equity players are on the lookout for an opportunity to earn outsized returns resulting from low valuations. Read more onNatlawreview.com Image: Rawpixel.com / Shutterstock.com
International Capital Raising and M&A Highlights
Addo Food Group and Winterbotham Darby have been acquired by private equity firm PAI Partners for undisclosed sums, with the aim of merging the two to create a significant force in chilled foods. Foodmanufacture
Aidexa, an Italian challenger bank for SMEs, has raised €45 million in seed financing from the Generali Group, Banca Sella, IFIS, and others. Finextra
Audioscenic, a Southampton audio experience company, raised £1.05 million from Foresight Group, Williams Advanced Engineering. UKTN
BrainTale, a Paris-based adapted care company, raised €1m in seed funding, comprised of a loan from Bpifrance and Angels Santé. Finsmes
CatalYm GmbH, a Munich-based biopharmaceutical company developing novel cancer immunotherapies, closed a €50m Series B financing round led by Vesalius Biocapital III. Finsmes
Coherent, a Hong-Kong Insuretech company helping insurance providers go digital, raised a $14 million Series A round led by Cathay Innovation. Techcrunch
Edgard & Cooper, based in Belgium, a fresh pet food startup has raised 22 million euros (approx. $26m) in Series B funding led by The Crafory. Crunchbase
EQT, the Swedish PE group said it had agreed to sell insurance software provider Tia Technology to Sapiens International Corporation. Yahoo!Finance
Fountain Healthcare Partners announced the Final Closing of its third fund, Fountain Healthcare Partners Fund III, L.P. with €125 million of committed capital, exceeding its initial target raise of €100 million. VCAonline
Huawei plans to sell budget-brand smartphone unit Honor in a 100 billion yuan ($15.2 billion) deal to a consortium led by handset distributor Digital China and the government Shenzhen, according to Reuters. Reuters
Hudson Hill Capital, a private investment firm, announced it acquired a majority stake in InXpress Holdings Ltd, a software-enabled global franchisor of transportation and logistics services. PRnewswire
Inmagene Biopharmaceuticals, a Shangai-based drug development company, closed a $21m Series B round led by Vertex Ventures China. Finsmes
LinkAja, an Indonesian e-money institution with e-wallet and merchant services businesses, raised a $100 million Series B round led by Grab. Finextra
Mendi, a Swedish healthtech startup set to make every brain healthier, secured €3 million through crowdfunding. Eu-startups
Niftex.com, a Singapore-based platform for fractional ownership of Non-Fungible Tokens, raised $500k in funding led by 1kx. Nasdaq
Purple Dot, a London-based fintech startup provides a plug-in for websites allowing customers to request the retailer drop the price, raised £1.35 million seed funding led by Connect Ventures. UKTN
ReSec Technologies, a NYC- and Caesarea, Israel-based cyber security company that protects organizations from file-based malware threats, completed its $4m Series A round of financing led by QBN Capital. Finsmes
SGS, the Swiss inspections group, said it is buying medical diagnostic services company SYNLAB's Analytics & Services division for roughly 550 million euros ($650.32 million). Reuters
Tier, the Berlin-based scooter company, announced it has raised $250 million in a venture capital round led by the Softbank Vision Fund. Venturebeat
Xpressbees, an Indian logistics firm that works with e-commerce firms, has raised $110 million in a Series E round was led by Investcorp and Norwest Venture Partners. Techcrunch
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