Strategy | Financing Highlight

Private Placement / Financing Transactions

UPSIDE Foods: The company raised $400 million of Series C venture funding in a deal led by Abu Dhabi Growth Fund and Temasek Holdings on April 21, 2022, putting the company’s pre-money valuation at $600 million. Cargill, Dentsu Ventures, Givaudan, Tyson Foods, SALT, Cercano Management, Synthesis Capital, SoftBank Investment Advisers, EDBI, CPT Capital, Norwest Venture Partners, IndieBio, John Doerr, Kimbal Musk, William Gates and Baillie Gifford also participated in the round. The company is a producer of cultivated meat utilizing animal cells to grow meat as an alternative to harvesting from live animals.

A SHOC Energy: The company raised $29 million of Series B venture funding from Paul Rodriguez, Michael Strahan and Bryson DeChambeau on April 19, 2022. Aaron Judge, Brooks Koepka, Freddie Freeman, Chase Young, Chase Elliott and Lexi Thompson and other undisclosed investors also participated in the round. The company is a provider of sugar-free energy drinks.

Made by Nacho: The company raised $19 million of Series A venture funding through a combination of debt and equity in a deal led by CAVU Venture Partners on April 18, 2022. Mars, New Fare Partners, and other undisclosed investors also participated in the round. The company is a producer of premium cat food.

Back to the Roots: The company raised $18 million of venture funding through a combination of equity and debt from undisclosed investors on April 21, 2022. The company is a retailer of ready-to-grow and ready-to-eat indoor gardening, agricultural, and food products.

Moleaer: The company raised $7.5 million of venture funding from Husqvarna on April 20, 2022. The company is a developer and manufacturer of nanobubble generators designed to deliver and ensure sustainable and chemical-free water quality improvement.

Casper: The company raised EUR 5 million of venture funding in a deal led by Slingshot Ventures on April 20, 2022. Tilleghem, Jurgen Ingels, Zhong Xu and Jan Hollez also participated in the round. The company is a provider of online food ordering and delivery services.

Sifter: The company raised $5 million of venture funding from undisclosed investors on April 22, 2022. The company is an operator of a personalized online grocery shopping platform intended for people to discover products that fit their personal dietary, medical and lifestyle priorities.

AMASS: The company raised $3.5 million of Series A venture funding from undisclosed investors on April 22, 2022. The company is a producer of botanical beverages and personal care products.

Aigen: The company raised $2.9 million of venture funding in the form of SAFE notes from undisclosed investors on April 20, 2022. The company is a developer of small, autonomous, agricultural robots for field management.

Hume Supernatural: The company raised $1.7 million of Series A venture funding from undisclosed investors on April 19, 2022, putting the company’s pre-money valuation at $10 million. The company is a manufacturer of chemical-free personal care products.


M&A Transactions

Crescent Hills Water Company / Quench: The company was acquired by Quench, a subsidiary of AquaVenture Holdings, for an undisclosed amount on April 19, 2022. The company is a supplier of point-of-use drinking water systems located in Colleyville, Texas.

Innovative Fragrances / Phoenix Aromas and Essential Oils: The company was acquired by Phoenix Aromas and Essential Oils, a subsidiary of Tilley Chemical Company, for an undisclosed amount on April 18, 2022. The company is a developer of fragrance compounds serving a diverse set of end markets including home fragrance, personal care, candles and other air fresheners.

Lanthier Bakery / La Fournee Doree: The company was acquired by La Fournee Doree for an undisclosed amount on April 18, 2022. The company is an operator of a bakery chain that offers breads, brioche and buns.

Olympia Dairy / Royal A-ware: The company reached a definitive agreement to be acquired by Royal A-ware for an undisclosed amount on April 19, 2022. The company is a producer and supplier of customer-specific sustainable dairy products for industrial customers and consumers.

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