Private Placement and M&A Transactions Review Week Ending October 30 2022 – Consumer, Healthcare & Technology

Strategy | Financing Highlight
CONSUMER SECTOR
Private Placement / Financing Transactions
Fort Point Beer: The company raised $15.4 million of venture funding in the form of convertible debt from Ryan Graves, Nate Bosshard and John Hering on October 28, 2022. Finn Capital Partners and other undisclosed investors also participated in the round. The company is an operator of an independent American craft beer brewery.Jiant: The company raised $1 million of venture funding from undisclosed investors on October 26, 2022. The company is a producer of kombucha beverages intended to offer gluten-free and organic ingredients-based beverages.Cairnspring Mills: The company is in the process of raising $1.5 million of convertible debt financing from undisclosed investors on October 26, 2022. The company is an operator of mill intended to produce grain flour.
M&A Transactions

NaturalShrimp / Yotta Acquisition: The company reached a definitive agreement to be acquired by Yotta Acquisition for $275 million on October 25, 2022. NaturalShrimp Inc is a shrimp farming biotechnology company.

Amalthea van Dijk / Ausnutria Dairy: The company reached a definitive agreement to be acquired by Ausnutria Dairy for an undisclosed amount on October 26, 2022. The company is a provider of goat milk and related dairy products.

Appel Feinkost / Sustainable & Invest: The company was acquired by Sustainable & Invest from Heristo for an undisclosed amount on October 26, 2022. The company is an operator of a canned seafood business based out of Cuxhaven, Germany.

Campos Foods / Gold Creek Foods: The company, a subsidiary of George’s, was acquired by Gold Creek Foods for an undisclosed amount on October 26, 2022. The company is a producer of fully-cooked frozen food products.

Elev8 Hemp / Apple Rush: The company, a subsidiary of Branded Legacy, was acquired by Apple Rush for an undisclosed amount on October 26, 2022. The company is a producer and retailer of hemp-infused coffee products.

Keltic Seafoods / Pacific Seafood Group: The company was acquired by Pacific Seafood Group for an undisclosed amount on October 24, 2022. The company is a manufacturer and distributor of seafood.

Leiper’s Fork Distillery / Pol Roger Portfolio: The company was acquired by Pol Roger Portfolio for an undisclosed amount on October 26, 2022. The company is a producer of small-batch whiskey based in Franklin, Tennessee.

Noble / Grubbrr: The company was acquired by Grubbrr for an undisclosed amount on October 26, 2022. The company is an operator of an online ordering platform to facilitate orders and payments for bar and nightlife spaces.

NW Foodservice Distribution / Harbor Wholesale Foods: The company was acquired by Harbor Wholesale Foods for an undisclosed amount on October 24, 2022. The company is a distributor of food products catering to restaurants, bars and pubs, schools, and convenience stores.

HEALTHCARE SECTOR

Private Placement / Financing Transactions

Alto Neuroscience: The company raised $95 million of Series B venture funding in a deal led by Lightswitch Learning and Alkeon Capital Management on October 25, 2022, putting the company’s pre-money valuation at $269.1 million. The company is a developer of a psychiatry platform intended to help patients with CNS conditions.

Resolve Biosciences: The company raised $71 million of Series B venture funding in a deal led by Patient Square Capital on October 24, 2022. Alafi Capital Company, PS Capital Management, EDBI, and NRW Bank also participated in the round. The company is a developer of a molecular cartography platform designed to help scientists resolve biological challenges in areas such as oncology, neuroscience, and infectious disease.

Normunity: The company raised $65 million of Series A venture funding in a deal led by Canaan Partners on October 25, 2022. Sanofi Ventures, Taiho Ventures and Osage University Partners also participated in the round. The company is an operator of a biotechnology business intended to create precision immuno-oncology medicines.

LevitasBio: The company raised $35 million of venture funding from undisclosed investors on October 24, 2022. The company is a developer of single-cell imaging and profiling platform designed to purify cells and nuclei in minutes without any markers or modifications.

Satelia: The company raised EUR 10 million of venture funding from undisclosed investors on October 25, 2022. The company is a developer of a medical device intended for cardiac health monitoring.

Causaly: The company raised $7.7 million of venture funding from undisclosed investors on October 24, 2022. The company is a developer of a biomedical platform designed to find evidence, explore hidden connections and make new predictions in biomedical science.

CTRL Therapeutics: The company raised $7.5 million of venture funding from undisclosed investors on October 27, 2022. The company is a developer of a microfluidic platform designed to optimize the detection of rare circulating tumor cells.

Positrigo: The company raised CHF 5.5 million of Series B venture funding from Zürcher Kantonalbank, 4FO Venture Partners, and European Innovation Council Fund on October 28, 2022. The company is a developer of positron emission tomography scanners designed to improve the diagnosis of Alzheimer’s disease.
M&A Transactions

Chojuu / Virtusan: The company, a subsidiary of ETH Zurich, was acquired by Virtusan for an undisclosed amount on October 27, 2022. The company is an operator of a behavioral longevity business intended to provide science-backed tools to improve people’s lives.

Eleusis / Beckley Psytech: The company reached a definitive agreement to be acquired by Beckley Psytech for an undisclosed amount on October 24, 2022. The company is a developer of psychedelic drug therapies intended to address unmet needs within and beyond psychiatry.

Orflo Technologies / BroadOak Capital Partners: The company, a subsidiary of GeminiBio, was acquired by United BioChannels and BroadOak Capital Partners for an undisclosed amount on October 27, 2022. The company is a developer and marketer of medical instruments to the cell and protein analysis industries.

Sound Life Sciences / Alphabet: The company was acquired by Alphabet for an undisclosed amount on October 26, 2022. The company is a developer of clinically validated software designed for phones and smart speakers.

Southern Orthopedic Specialists / Orthopaedic Associates: The company reached a definitive agreement to be acquired by Orthopaedic Associates for an undisclosed amount on October 24, 2022. The company is a provider of orthopedic and sports medicine care services based in Panama City, Florida.

TECHNOLOGY SECTOR

Private Placement / Financing Transactions

Versa Networks: The company raised $120 million of venture funding in a deal led by BlackRock on October 27, 2022. Silicon Valley Bank also participated in the round. The company is a developer of a software-defined networking (SDN) platform designed to provide integrated cloud, networking, and security services.

SiMa.ai: The company raised $67 million of Series B1 venture funding in a deal led by Fidelity Management & Research on October 26, 2022, putting the company’s pre-money valuation at $620 million. Dell Technologies Capital, MSD Partners, ND Capital, Amplify Partners, Wing Venture Capital, Alter, Lip-Bu Tan and Adage Capital Management also participated in the round. The company is a developer of machine learning technology intended to deliver the industry’s first software-centric machine learning SoC platform for deploying ML at the embedded network edge.

CharterUp: The company raised $60 million of Series A venture funding in a deal led by Tritium Partners on October 26, 2022. The company is a developer of a bus rental platform designed to provide a marketplace for charter bus reservations.

Axelera AI: The company raised $27 million of Series A venture funding in a deal led by Innovation Industries (Amsterdam) on October 25, 2022. imec.xpand and Federal Holding and Investment Company also participated in the round. The company is a developer of a hardware and software platform for AI designed to deliver extremely high performance at a power of a few watts and flexibility to support multiple networks.

LatticeFlow: The company raised $12 million of Series A venture funding in a deal led by Atlantic Bridge Capital and OpenOcean VC on October 26, 2022. btov Partners, Global Founders Capital and FPV Ventures also participated in the round. The company is a developer of a system management software designed to help teams to build and deploy artificial intelligence models that are safe, reliable, and trustworthy.

Impact Analytics: The company raised $10 million of Series B venture funding from The Argentum Group on October 26, 2022. The company is a developer of AI-driven business intelligence and insights software intended for uniting artificial intelligence with human validation.
M&A Transactions

WillowTree / Telus International: The company reached a definitive agreement to be acquired by Telus International for $1.015 billion on October 27, 2022. The company is a provider of full-service digital product consultancy services intended to help brands drive growth.

Axacore / Constellation Mortgage Solutions: The company, a subsidiary of Scrypt, was acquired by Constellation Mortgage Solutions for an undisclosed amount on October 27, 2022. The company is a developer of document management software designed to help companies organize, share and secure information.

inmation Software / Aspen Technology: The company was acquired by Aspen Technology, a subsidiary of Emerson Electric, for an undisclosed amount on October 24, 2022. The company is a developer and provider of an industrial information management system designed to create a uniform real-time data infrastructure.

NXT UP Esports / Valhallan: The company was acquired by Valhallan for an undisclosed amount on October 27, 2022. The company is a developer of recreational esports league platform intended to provide structured leagues for players.

Radio Zurisee / Fabian Villiger Management: The company reached a definitive agreement to be acquired by Fabian Villiger Management for an undisclosed amount on October 27, 2022. The company is an operator of a web radio station catering to the broadcasting industry.

Riven / Stratasys: The company was acquired by Stratasys for an undisclosed amount on October 25, 2022. The company is a developer of 3D scanning and proprietary algorithms designed to provide manufacturing insights.

Servicecentral Technologies / Valsoft Corporation: The company was acquired by Valsoft Corporation for an undisclosed amount on October 27, 2022. The company is a developer of enterprise service management technology.

Spotted / Dua: The company was acquired by Dua for an undisclosed amount on October 25, 2022. The company is a developer of a social discovery mobile application designed to connect people with similar interests.

StyleSage / Dassault Systemes: The company was acquired by Dassault Systemes, a subsidiary of Dassault Group, for an undisclosed amount on October 26, 2022. The company is a developer of an image recognition and retail analytics platform designed for retailers and brands.

Source: Pitchbook Data, Inc.

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