Mar 20, 2024

Strategy | Financing Transactions Private Placement / Financing Transactions Applied Intuition: The company raised $250 million of Series E venture funding in a deal led by Porsche Ventures, Lux Capital and Elad Gil on March 12, 2024, putting the company’s pre-money valuation at $5.75 billion. BOND Capital, Andreessen Horowitz, General Catalyst, Nico Rosberg, Henry Kravis, Mustafa Suleyman, Ray Dalio, Reid Hoffman, Human Capital and John Quinn also participated in the round. The company is a developer of advanced simulation infrastructure software designed to safely develop, test, and deploy autonomous vehicles. Together: The company raised $106 million of venture funding in a deal led by Salesforce Ventures on March 13, 2024, putting the company’s pre-money valuation at $1.14 billion. Hugging Face, Prosperity7 Ventures, Coatue Management, NEA Partners, Definition, Lux Capital, Long Journey Ventures, Kleiner Perkins, Emergence, Greycroft, Coherence Ventures, Scott Banister and SV Angel also participated in the round. The company is an operator of a technology services platform designed to provide a decentralized cloud for artificial intelligence. Bear Robotics: The company raised KRW 80 billion of Series C venture funding in a deal led by LG Electronics on March 12, 2024. The company is a developer of self-driving robots designed to serve food at restaurants. Unstructured: The company raised $40 million of Series B venture funding in a deal led by Menlo Ventures on March 14, 2024. Databricks Ventures, Nvidia, The New Normal Ventures, Mango Capital (Venture Capital), Madrona Venture Group, IBM Ventures, Bain Capital Ventures, nVentures, Chet Kapoor, Vivek Ranadivé and Allison Pickens also participated in the round. The company is a developer of an open source data transformation platform designed to make it easy to preprocess natural language data for downstream machine learning services. Nanonets: The company raised $29.3 million of Series B venture funding in a deal led by Accel on March 12, 2024, putting the company’s pre-money valuation at $95 million. Elevation Capital (India), Y Combinator, and other undisclosed investors also participated in the round. The company is a developer of a machine learning-based API designed to automate complex workflows and extract valuable data from documents. Cognition: The company raised $21 million of Series A venture funding in a deal led by Founders Fund on March 12, 2024. Elad Gil, Sarah Guo, Chris Re, Eric Glyman, Karim Atiyeh, Erik Bernhardsson, Tony Xu, Fred Ehrsam, Patrick Collison, John Collison, and other undisclosed investors also participated in the round. The company is a developer of an autonomous AI chatbot designed to manage development projects from inception to completion. Omni: The company raised $20 million of venture funding from Theory Ventures and Aurum Partners on March 14, 2024. The company is a developer of an enterprise business intelligence and data analytics  platform. Axion Ray: The company raised $17.5 million in Series A venture funding in a deal led by Bessemer Venture Partners on March 12, 2024, putting the company’s pre-money valuation at $72.5 million. RTX Ventures, Amplo, Inspired Capital (New York), and other undisclosed investors also participated in the round. The company is a developer of an artificial intelligence software platform designed to support predictive digital issues analysis for engineering programs and quality management. Micledi: The company raised $17.5 million of Series A venture funding from Imec, Société Fédérale de Participations et d’Investissement, and imec.xpand on March 12, 2024. KBC Focus Fund, and Participatiemaatschappij Vlaanderen also participated in the round. The company is a manufacturer of micro light-emitting diode (LED) displays to provide a self-contained monolithic display with high image quality and power efficiency. Kaedim: The company raised $15 million of Series A venture funding in a deal led by Andreessen Horowitz on March 11, 2024. Pioneer Fund, Nate Mitchell, Eden Chen, Siqi Chen, Chris Kingsley, Tom Blomfield, Sterling Snow, Jane Walerud, Patrick Pitchette and Scott Gelb also participated in the round. The company is an operator of an artificial intelligence-based three-dimensional model creation tool intended to make digital asset production cheaper and more efficient. Carbonated: The company raised $13 million of venture funding in a deal led by Com2uS on March 14, 2024. BITKRAFT Ventures, Andreessen Horowitz, Goal Ventures, Cypher Capital and WAGMI Ventures also participated in the round. The company is an operator of a mobile game studio intended to develop person-vs-person real-time games. Pienso: The company raised $10 million of Series A venture funding in a deal led by Latimer Ventures on March 12, 2024. SRI Ventures, Gideon Capital, Uncork Capital, Good Growth Capital and Nigel Toon also participated in the round. The company is a developer of a machine learning platform designed to facilitate, manipulate, and manage the interaction between algorithms and data. RapidCanvas: The company raised $7.5 million of venture funding in a deal led by Accel on March 13, 2024. Valley Capital Partners also participated in the round. The company is a developer of a no-code artificial intelligence platform designed for data practitioners looking to transition from raw data to machine learning applications. AtomBeam: The company raised $7 million of venture funding from undisclosed investors on an undisclosed date. The company is a developer of an artificial intelligence software technology designed to change the way data is encoded, transmitted, and stored to save bandwidth, power, and storage, and reduce transmission latency for the Internet of Things. Docent: The company raised EUR 5 million of venture funding from Polytechnique Ventures, Point72 Ventures, and Raphael Varane on March 13, 2024. Bpifrance and other undisclosed investors also participated in the round. The company is a developer of an AI-powered mobile application for discovering and collecting contemporary art. Mozaik: The company raised an undisclosed amount of venture funding in a deal led by Haufe-Lexware on March 13, 2024. Bayern Kapital and Mueller Medien also participated in the round. The company is a developer of a collaborative video creation application designed to create professional-quality videos easily and quickly, regardless of video production experience. Skidattl: The company raised an undisclosed amount of venture funding from Port Aventura and Wayra on March 13, 2024. The company is a developer of augmented reality software. Synq io: The company raised an undisclosed amount of venture funding from Index Ventures on March 12, 2024. The company is a developer of a data reliability platform for business customers. M&A Transactions 9 Story Media Group / Scholastic: The company reached a definitive agreement to be acquired by Scholastic for an estimated $186 million on March 12, 2024. The company is a producer, creator, and distributor of animated and live-action content for young audiences. TrueContext / Battery Ventures: The company entered into a definitive agreement to be acquired by Battery Ventures through an estimated $150 million public-to-private LBO on March 13, 2024. TrueContext Corp is a field intelligence company focused on workflow and data collection capabilities. SeaChange International / PartnerOne: The company entered into a definitive agreement to be acquired by PartnerOne through a $30 million public-to-private LBO on March 11, 2024. SeaChange International Inc is a provider of multiscreen video solutions for television service providers, telecommunications companies, satellite operators, and media companies. Odyssey Semiconductor Technologies / Unknown Investor: The company reached a definitive agreement to be acquired by an undisclosed investor for $9.5 million on March 13, 2024. Odyssey Semiconductor Technologies Inc is a semiconductor device company developing high-voltage power switching components and systems based on Gallium Nitride (GaN) processing technology. Superpedestrian / Surf Beyond: The company was acquired by Surf Beyond for an undisclosed amount on March 12, 2024. The company is an operator of a transportation robotics company that manufactures lightweight electric bikes. Beyond-FX / Virtuos: The company was acquired by Virtuos, via its financial sponsors EQT, Enthéos and BPEA EQT, through an LBO on March 14, 2024 for an undisclosed amount. The company is a provider of visual effects services for AAA games. CPMStar / Aditude: The company was acquired by Aditude for an undisclosed amount on March 12, 2024. The company is a developer of a real-time bidding (RTB) advertising and monetization platform designed to offer a marketing network for online content. DeepVA / aiconix: The company was acquired by aiconix for an undisclosed amount on March 11, 2024. The company is a developer of a visual data mining software designed to extract data from images, videos, and live streams. Gestalt Robotics / Indus Holding: The company was acquired by Indus Holding through an LBO on March 14, 2024 for an undisclosed amount. The company is a developer of robotics and artificial intelligence software intended for factories, warehouses and production lines. Halla / Mi9 Retail: The company was acquired by Mi9 Retail, via its financial sponsor Auldbrass Partners, through an LBO on March 11, 2024 for an undisclosed amount. The company is a developer of an online personalized recommendation platform. Mile / Obiz: The company was acquired by Obiz for an undisclosed amount on March 11, 2024. The company is a developer of mobile apps that combine geographical positioning with data relating to tourism, pollution, weather, and health. PIX Business / Autodesk: The company, a subsidiary of X2X was acquired by Autodesk for an undisclosed amount on March 15, 2024. The company is an operator of a media asset management platform based in Los Angeles, California. Sheepblue / Protime: The company was acquired by Protime for an undisclosed amount on March 15, 2024. The company is a developer of an automatic duty scheduling and shift planning platform for employee rosters. Superpeer / Skillshare: The company was acquired by Skillshare for an undisclosed amount on March 13, 2024. The company is a developer of a video mentoring platform intended to allow users to share and monetize their knowledge online. Ultimate / Zendesk: The company entered into a definitive agreement to be acquired by Zendesk, via its financial sponsors Hellman & Friedman, Permira, Abu Dhabi Investment Authority, Ares Management and GIC, through an LBO on March 13, 2024 for an undisclosed amount. The company is a developer of a virtual agent platform designed to help businesses scale their customer service with artificial intelligence. Source: Pitchbook Data, Inc.