Technology Private Placement and M&A Transactions Review Week Ending September 28, 2025

Nscale: The company raised GBP 1.1 billion of Series B venture funding in a deal led by Aker on September 25, 2025. Nokia, Dell Technologies, T.Capital, Nvidia, Sandton Capital Partners, G Squared, Point72 Ventures, Fidelity Management & Research Company and Blue Owl Capital also participated in the round. The company is a developer of a high-performance compute platform designed for simplifying artificial intelligence workloads and scaling generative models.

Cohere: The company raised $600 million of venture funding in a deal led by Radical Ventures and Inovia Capital on September 24, 2025, putting the company’s pre-money valuation at $6.4 billion. Salesforce Ventures, AMD Ventures, Nvidia, PSP Investments, Business Development Bank of Canada, Nexxus Capital Management, Okeanos and Healthcare of Ontario Pension Plan also participated in the round. The company is a developer of natural language processing software specializing in enterprise-grade AI solutions.

Modular: The company raised $250 million of venture funding in a deal led by US Innovative Technology Fund and DFJ Growth on September 24, 2025, putting the company’s pre-money valuation at $1.35 billion. GV, Greylock and General Catalyst also participated in the round. The company is a developer of an artificial intelligence platform designed to deploy AI applications across diverse hardware offerings, including CPUs, GPUs, and custom silicon.

Distyl AI: The company raised $175 million of Series B venture funding in a deal led by Lightspeed Venture Partners and Khosla Ventures on September 22, 2025, putting the company’s pre-money valuation at $1.63 billion. Coatue Management, Dell Technologies Capital and DST Global also participated in the round. The company is a developer of a generative artificial intelligence platform designed for companies to automate aspects of their core operations.

ANYbotics: The company raised CHF 64.6 million of venture funding from Aramco Ventures, Qualcomm Ventures and Climate Investment on September 22, 2025, putting the company’s pre-money valuation at CHF 171.4 million. NGP Capital, Bessemer Venture Partners, and other undisclosed investors also participated in the round. The company is a developer of an inspection robot designed to monitor assets in complex and hazardous industrial environments.

Factory AI: The company raised $50 million of Series B venture funding in a deal led by New Enterprise Associates on September 25, 2025, putting the company’s pre-money valuation at $250 million. Nvidia, Sequoia Capital, Mantis VC, Abstract Ventures, Nikesh Arora, Frank Slootman, Michael Ovitz, Aaron Levie and JP Morgan Chase also participated in the round. The company is a developer of an artificial intelligence-based platform designed to automate the software development lifecycle.

AmplifAI: The company raised $33.7 million of Series B venture funding in a deal led by CVS Health Ventures on September 23, 2025. LiveOak Ventures and Dallas Venture Capital also participated in the round. The company is an operator of an AI-driven performance enablement platform intended to monitor and identify practices and micro-learnings.

Mimica: The company raised $26.2 million of Series B venture funding in a deal led by Paladin Capital Group on September 24, 2025. Entrepreneurs First, Khosla Ventures and LGVP also participated in the round. The company is a developer of a machine learning platform designed to accelerate the deployment of robotic process automation.

Atomic Industries: The company raised $25 million of Series A venture funding in a deal led by MaC Venture Capital and DTX Ventures on September 23, 2025, putting the company’s pre-money valuation at $101 million. Blackwing Companies, S&A, Narya, Calm Ventures, University of Michigan, and other undisclosed investors also participated in the round. The company is a developer of AI-powered mass production technology designed to teach machines how to quickly move from design to production parts.

Emergent: The company raised $23 million of Series A venture funding in a deal led by Lightspeed Venture Partners on September 24, 2025. Prosus Ventures, Together Fund, Y Combinator, Balaji Srinivasan, Jeff Dean, Devendra Chaplot, Prasanna Sankar, Siqi Chen, Srinivasan Venkatachary, Edo Liberty and other undisclosed investors also participated in the round. The company is a developer of a coding agent designed to automate internal-facing software engineering tasks.

Synthesized: The company raised GBP 16.6 million of Series A venture funding in a deal led by Redalpine on September 24, 2025, putting the company’s pre-money valuation at GBP 24.7 million. Deutsche Bank Ventures, Seedcamp, IQ Capital Partners, Mercia Ventures and other undisclosed investors also participated in the round. The company is a developer of an artificial intelligence platform designed to automate test data generation, provisioning, and execution.

BizzyCar: The company received $20 million of development capital in the form of convertible debt from Dealer Tire and FM Capital on September 24, 2025. The company is a developer of an automotive maintenance platform designed to help dealers manage vehicle service recalls.

ComfyUI: The company raised $18.8 million of Series A venture funding from Stratus Ventures Management, Pace Capital and Chemistry Ventures on September 25, 2025, putting the company’s pre-money valuation at $57 million. Cursor Capital, Guillermo Rauch and other undisclosed investors also participated in the round. The company is a developer of artificial intelligence-based tools designed to generate videos, images, 3D content, and audio.

Salt AI: The company raised $10 million of venture funding in a deal led by Morpheus Ventures on September 22, 2025. CoreWeave, Struck Capital and Marbruck Investments also participated in the round. The company is a developer of a visual development platform intended for teams to build and scale AI faster in an open ecosystem.

Arcade Media: The company raised an undisclosed amount of venture funding from Lumina Media on September 22, 2025. The company is a provider of digital media, creative management, and venture services intended for artists and entrepreneurs.

Builder Prime: The company raised an undisclosed amount of Series B venture funding in a deal led by Blueprint Equity on September 24, 2025. The company is a developer of customer relationship management software designed for contractors to organize, manage, and grow their businesses.

Electronic Arts / Multiple Investors: The company entered into a definitive agreement to be acquired by Saudi Arabia’s Public Investment Fund, Affinity Partners, and Silver Lake through a $55 billion public-to-private LBO as of September 29, 2025. Electronic Arts is one of the largest global developers and publishers of video games.

Integral Ad Science / Novacap: The company entered into a definitive agreement to be acquired by Novacap through a $1.9 billion public to private LBO on September 24, 2025. Integral Ad Science Holding Corp is a global leader in media measurement and optimization that provides data and software to advertisers, publishers, and media platforms to improve campaign effectiveness.

PrizePicks / Allwyn: The company entered into a definitive agreement to be acquired by Allwyn, via its financial sponsors KKCG and J&T Arch Investments, through a $1.6 billion LBO on September 22, 2025. The company is a developer of a sports betting platform.

Couchbase / Haveli Investments: The company was acquired by Haveli Investments through a $1.5 billion public-to-private LBO on September 24, 2025. Couchbase Inc provides a modern cloud database that offers robust capabilities for business-critical applications on a scalable and available platform.

Sound United / Harman International Industries: The company was acquired by Harman International Industries, a subsidiary of Samsung Electronics, for $350 million on May 6, 2025. The company manufactures and sells a wide variety of audio and entertainment products, including loudspeakers, sound bars, AV receivers, and headphones, with a global presence in over 130 countries.

Signal AI / Battery Ventures: The company entered into a definitive agreement to be acquired by Battery Ventures through a $165 million LBO on September 24, 2025. The company is a developer of a media intelligence platform designed to transform decision-making through augmented intelligence.

Aloft / Terra Drone: The company reached a definitive agreement to be acquired by Terra Drone for an undisclosed amount on September 22, 2025. The company is a developer of an airspace platform designed to empower effective drone operations.

BridgeComm / Voyager: The company was acquired by Voyager for an undisclosed amount on September 22, 2025. The company is a developer of a wireless technology designed to connect satellites from space to the ground and meet the accelerating demand for big data collection from low Earth orbit.

Chatmeter / Alchemer: The company was acquired by Alchemer, via its financial sponsor Kohlberg Kravis Roberts, through an LBO on September 24, 2025 for an undisclosed amount. The company is a developer of a local brand management platform designed to provide reputation and search engine optimization analytics.

Meeya / Ayomi: The company was acquired by Ayomi for an undisclosed amount on September 23, 2025. The company is a provider of AI-powered software development services based in Colombes, France.

Phase Four / Quantum Space: The company was acquired by Quantum Space for an undisclosed amount on September 24, 2025. The company is a developer of satellite propulsion systems designed to economically advance space missions.

Retina / Onar: The company was acquired by Onar for an undisclosed amount on September 23, 2025. The company is a developer of a predictive customer intelligence platform designed to offer data-driven business monitoring insights.

Swoove / Unknown Investor: The company was acquired for an undisclosed amount on September 24, 2025. The company is a developer of a real-time 3D animation creation application intended to let users create videos without any prior experience.

TheNewsMarket / ePressPack: The company was acquired by ePressPack for an undisclosed amount on September 24, 2025. The company is a developer of a communication and networking platform intended to connect brands to the media.

UPMEM / Qualcomm: The company was acquired by Qualcomm for an undisclosed amount on September 24, 2025. The company is a developer of a fabless semiconductor technology designed to improve the performance of data-intensive algorithms.