Week Ending 7.12.2020
EYE ON A.I. GETS READERS UP TO DATE ON THE MOST CRITICAL FUNDING, CORPORATE AND REGULATORY NEWS WITH ORIGINAL CONTENT AND MEDIA REPORTS FROM AROUND THE GLOBE.
This week our corporate finance newsletter features 12 acquisitions, 13 equity filings, 24 funding rounds, some regulatory moves, and 22 executive hires in the AI sector.
Read more below ↓
MERGERS AND ACQUISITIONS
SUSE, the London and Cupertino, California-based independent open source company using AI, said it has acquired Rancher Labs.
Aura, the Burlington, Massachusetts-based technology company dedicated to simplifying digital security for consumers using AI, said it has acquired Pango, security company with a premium subscription service.
Planview, the Austin, Texas-based accelerate on-strategy delivery at scale, said it has acquired Aptage, pioneer in the application of AI and machine learning to portfolio management and work management.
IBM, the New York City-based cloud platform and cognitive solutions company using AI, said it has acquired WDG Automation, Brazilian software provider of robotics process automation.
Freshworks, the San Mateo, California-based marketing firm using AI, said it has acquired Flint, IT orchestration and cloud management platform.
Haivision, the Montreal, Canada-based video streaming solutions using AI, said it has acquired Teltoo, technology innovator for peer-to-peer and WebRTC enabled real-time video delivery.
NextGen.Net, the Australian-based market and innovator in lending technology, said it has acquired Frollo, open banking and advanced platform particularly in its use of AI.
Brillio, the Santa Clara, California-based digital technology consulting and solutions firm using AI, said it has acquired Cognetik, a data and insights company with deep expertise in improving digital experiences for its customers.
Microsoft, the Fort Lauderdale, Florida-based computer software company, said it has acquired Orions Systems to expand Dynamics 365.
ISG (Information Services Group), the Stamford, Connecticut-based global technology research and advisory firm, said it has acquired Neuralify, a market leader in intelligent automation enablement solutions and services.
Uber, the San Francisco, California-based transportation firm, said it has acquired Postmates, a on-demand food delivery platform.
Sony, the Tokyo, Japan-based creative entertainment company, said it has agreed to make a strategic investment of USD $250 million to acquire a minority interest in Epic Games through a wholly-owned subsidiary of Sony.
FILINGS
BlueCity Holdings Limited, the Beijing, China-based online LGBTQ community and dating platform, saw its shares go up 46 percent on its first day of trading on the Nasdaq at USD $23.43 per share. The company raised USD $84.8 million by selling 5.3 million ADS. BlueCity originally sought USD $50 million from an IPO for 2.6 million ADS.
Relay Therapy, the Cambridge, Massachusetts-based cancer drug-discovery platform using machine learning, refiled for an upsized USD $264.6 million IPO of 14.7 million shares at USD $16 to USD $18 each on the Nasdaq under the symbol RLAY. Last month, the company originally filed an IPO for USD $200 million.
nCino, the Wilmington, North Carolina-based cloud-based bank operating system using AI, refiled for USD $182.4 million from an IPO of 7.6 million shares at USD $22 to USD $24 each on the Nasdaq under the symbol NCNO.
Centogene, the Rostock, Germany-based rare disease diagnostics and research firm using AI, said it and shareholders are raising USD $49 million from the sale of 3.5 million common shares at USD $14 each, an 18 percent discount to the last traded price noted in the filing. The company is selling 2 million shares and the shareholders, which include DPE Deutsche Private Equity, are selling 1.5 million shares.
Rackspace Technology, the SAN ANTONIO, Texas-based end-to-end multicloud technology services company, said it plans to raise a placeholder for USD $100 million from an IPO on the Nasdaq under the symbol RXL.
NewHold Investment, the Houston, TX-based blank check company targeting industrial technology business, said it plans to raise USD $150 million from an IPO by selling 15 million shares at USD $10 each. The company plans to acquire companies using AI and advanced analytics.
GoHealth, the Chicago, Illinois-based health insurance marketplace using machine learning, said it is raising USD $790 million in an IPO of 39.5m million shares at USD $18 to USD $20 each.
Oak Street Health, the Chicago, Illinois-based virtual healthcare services firm using AI, said it is raising a USD $100 million placeholder in an NYSE IPO. The company focuses on Medicare recipients.
Other deals include ReWalk Robotics, Brain Scientific, Father Time, Quhuo Limited and Vasta Platform.
FUNDING
Taulia, the San Francisco, California-based provider of working capital solutions using machine learning, said it has raised USD $60 million in a round of financing led by the Ping An Global Voyager Fund with participation from J.P. Morgan.
Zolostays, the Bengaluru, India-based co-living startup using AI-driven operating platforms, raised USD $56 million in a funding round led by Investcorp, Nexus Venture Partners, Mirae Assets, and Trifecta Capital, according to a media report by Entrepreneur India. The total funding raised so far puts this round for Zolo at USD $90 million.
Kernel, the Culver City, Los Angeles-based neuroscience as a service enables on-demand access to the advanced brain recording technology using machine learning, said it has raised USD $53 million in a Series C funding round led by General Catalyst.
Growers Edge Financial, the Johnston, Iowa-based agricultural data services firm using machine learning, said it has raised USD $40 million in a Series B round of financing led by S2G Ventures, Cox Enterprises and Skyline Global Partners.
Liftit, the Bogota, Columbia-based technology platform to automate and execute last-mile truck deliveries across Latin America using machine learning, said it has raised USD $22.5 million in a Series B funding round led by Cambridge Capital LLC.
Inimmune, the Missoula, Montana-based immune therapies and vaccines biotech company, said it has raised USD $22 million in a Series A funding led by Two Bear Capital.
Synapse Medicine, the Bordeaux, France-based platform for physicians to share and discuss medical cases and knowledge using AI, said it has raised USD $8 million in a funding round led by MACSF.
Aryballe, the Grenoble, France-based developing biochemical sensors, optics, and AI to collect and analyze odor data, said it has raised EUR €7 million (USD $7.9 million) in a funding round led by Samsung Venture Investment Corp. The round brings the company’s total funding to date to EUR €17 million.
Nucleai, the Tel Aviv, Israel-based provider of an AI-powered precision oncology platform, said it has raised USD $6.5 million in a Series-A funding round led by Debiopharm.
SensorUp, the Calgary, Alberta-based SaaS provider in the movement intelligence space using AI, said it has raised USD $6 million in a Series-A financing led by Evok Innovations.
MākuSafe, the West Des Moines, Iowa-based safety data & analytics company using AI, said it has raised USD $4 million in a funding round led by EMC Insurance Companies and Next Level Ventures.
InOrbit, the Mountain View, California-based provider of cloud-based robot management software, said it has raised USD $2.6 million in a seed funding round led by ANIMO Ventures.
ConverSight.ai, the Indianapolis, Indiana-based AI and adaptive analytics platform company, said it has raised USD $1.5 million in a Series Seed round led by Elevate Ventures.
Swipesum, the St. Louis, Missouri-based AI-powered credit card processing statement analysis tool, said it has raised USD $1.1 million in a funding round led by Jerry Kent.
Ideon Technologies, the Vancouver, British Columbia-based developer of a discovery platform that provides x-ray-like visibility up to 1 km beneath the Earth’s surface using AI, said it has raised CAD $1.3 million (USD $954 thousand) in seed funding led by University of British Columbia Seed Fund.
Chatterize, the Wellington, New Zealand-based language learning ed-tech using AI, said it has raised NZD $1 million (USD $941 thousand) in a seed funding round led by New Zealand investment group Icehouse Ventures.
ROKIT Healthcare, the South Korea, Seoul-based biotechnology company developing innovative 4D bioprinting techniques and applications, said it has raised in a Series C funding round of undisclosed amount led by DRADS Capital.
StradVision, the innovator in vision processing technology for autonomous vehicles and advance driver assistance using AI, said it has raised an undisclosed amount from Pegasus Tech Ventures.
Intellegens, the Cambridge, UK-based AI company with a unique deep-learning algorithm, said it has raised an undisclosed amount from Innovate UK to model COVID-19 data from around the world.
Other fundings include Athlane, Senso.ai, Franc, VITAL4 and GigIndia.
LEGAL AND REGULATORY
White House Advisory Council on Science and Technology guidance on AI conflicts with President Trump’s talent pool sabotage.
PEOPLE
Appriss Retail, the Irvine, California-based retail industry analytical services provider, said it has hired Krishnan Sastry as president and CEO.
Collabera, the Basking Ridge, New Jersey-based global technology talent solutions provider, said it has hired Karthik Krishnamurthy as CEO.
Jonckers, the Brussels, Belgium-based language platform technology and multilingual solutions using AI, said it has promoted Silke Zschweigert as their new CEO.
[24]7.ai, the San Jose, California-based company developing AI-based platforms for businesses in the consumer and retail sector, said it has hired Larry Vertin as CFO.
H2O.ai, the Mountain View, California-based open source leader in AI and automatic machine learning with a mission to democratize AI for everyone , said it has hired Raman Kapur as CFO.
Rokt, the New York City-based e-commerce marketing technology company using AI, said it has hired Michael Gordon as CFO, Laura Mineo as Deputy CFO and Lisa Craven as chief people officer.
o9 Solutions, the Dallas, Texas-based provider of a premier AI platform powering digital transformation of integrated business planning and operations at global companies, said it has hired Anand Govind as CFO.
Rev.com, the Austin, Texas-based venture-backed internet startup using AI, said it has hired Wade Burgess as chief revenue officer.
Cazena, the Waltham, Massachusetts-based instant data lake offering a true SaaS experience that accelerates time to analytics and AI/ML from months to minutes, said it has hired Chad Garrett as chief revenue officer.
Episerver, the Nashua, New Hampshire-based AI powered data and personalization solutions, said it has hired Kirsten Allegri Williams as chief marketing officer.
Axiologic Solutions, the Washington, D.C.-based IT firm, said it has hired Louis Chabot as chief technology officer. In May, the company hired Andy Baratta as president.
AnyVision, the New York City-based AI-driven computer vision to improve customer experience while enhancing safety, said it has hired Dieter Joecker as chief technology officer.
VIDA Diagnostics, the Coralville, Iowa-based lung imaging analysis firm using AI, said it has hired Todd Johnson as chief technology officer. In April, the company raised USD $2 million from OSF Ventures in an expanded Series C round that has now raised USD $13 million.
Aternity, the Cambridge, Massachusetts-based business software developer using AI, said it has hired Fernando Castanheira as chief information officer. In March, the company hired Jonaki Egenolf as chief marketing officer, Paul Gabrik as chief revenue officer and Sean Lannan as CFO and hired Bill Hewitt as president and CEO.
Notable, the San Mateo, California-based health technology company using AI, said it has hired Joseph Wagner as chief scientific officer. In July, the company raised USD $40 million in a Series B led by B Capital Group and LifeForce Capital.
Eko, the Oakland, California-based cardiac health screening firm using AI, said it has hired Bryan Humbarger as senior vice president of commercial. In April, the company hired Adam Saltman as chief medical officer. The company raised USD $20 million in a Series B funding led by ARTIS Ventures in last September.
Genesys, the San Francisco, California-based cloud and AI-powered customer experience and contact center solutions company, said it has hired Marylou Maco as executive vice president of global sales and field operations. Last month, the company hired Joyce Kim as chief marketing officer.
Payrailz, the Glastonbury, Connecticut-based digital payments company using AI, said it has hired Kavita Singh as vice president of AI product management.
Huami, the Cupertino, California-based developed a platform of proprietary technology including AI chips, biometric sensors, and data algorithms, said it has hired Brad Samson as vice president investor relations.
Novetta, the McLean, Virginia-based analytics technology company using machine learning, said it has hired Ryan Fairchild as vice president of enterprise solutions in Novetta's Information Exploitation Division. Last month, the company acquired WaveStrike, a software engineering services provider.
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