Illustration: Aïda Amer/Axios
Venture Capital
• XDOF, a San Mateo, Calif.-based robotics training data company, raised $70m from Thrive Capital, Spark Capital, a16z, Lux, and WndrCo. Go deeper
• Convey, an SF-based AI agents developer, raised a $38m Series A. A16z led, joined by Khosla Ventures and Pear VC. Go deeper
• Trace Finance, a cross-border stablecoin infra startup, raised $32m in Series A funding. CoinFund led, joined by Coinbase Ventures, Haun Ventures, Jump Capital, Valor Capital, Paxos, and HOF Capital. Go deeper
• Pramaana Labs, an AI verification startup, raised $27m in seed funding. Khosla Ventures led, joined by Accel, Boldcap, Nexus Venture Partners, Premji Invest, and Unbound. Go deeper
⚡️ Critical Energy, a developer of modular geothermal turbines, raised $19m in seed funding. Susa Ventures and Upfront Ventures led, joined by MaC Venture Capital, Susquehanna Sustainable Investments, Humba Ventures, Scribble Ventures, and Underground Ventures. Go deeper
• Katalyst Space Technologies, a Flagstaff, Ariz.-based satellite servicing startup, raised $12m. Geodesic Capital led, joined by Fortitude Ventures. Go deeper
• Clario, a Menlo Park, Calif.-based platform that eliminates unnecessary enterprise data, raised $6m in seed funding. Preface Ventures led, joined by Foster Ventures, Golden Sparrow, High Sage Ventures, Moment Ventures, Mentors Fund, Page One Ventures, Rain Capital, Ridge Ventures, and Transform VC. Go deeper
• Klipy, an expression API layer for memes and other short-form content, raised $3.8m from Google's AI Futures Fund, I2BF, Silvercircle VC, Sturgeon Capital, Red Swan Ventures, and Intuition Ventures. Go deeper
• Soource, an Italian multi-agent platform developer for procurement, raised a €3m seed. Vertis led, joined by 360 Capital, Tenity and Club degli Investitori. Go deeper
Private Equity
• Arcline Investment Management agreed to acquire AstroNova (Nasdaq: ALOT), a provider of identification solutions for aerospace, defense, labeling, and packaging industries, for around $272m or $29 per share. Go deeper
• Arketi Group, an Atlanta-based portfolio company of Go Capital and Station Partners, acquired Sperling, a Salem, Mass.-based digital marketing agency. Go deeper
🚑 Belmont Medical Technologies, an Audax portfolio company, acquired Arcos, a Missouri City, Texas-based provider of blood transfusion and severe burn care software. Go deeper
• Flexstone Partners, an affiliate of Natixis Investment Managers, agreed to acquire Glouston Capital Partners, a Boston-based PE secondaries manager with over $3.4 billion in AUM. Go deeper
• Investcorp acquired a stake in Metra, a UAE-based IT distributor. Go deeper
🚑 Lyntris, a Trive Capital portfolio company, acquired Novium, a Houston-based maker of motion systems for space and defense. Go deeper
• Model N, a Vista Equity Partners portfolio company, acquired Kalderos, a Chicago-based drug discount analytics platform that had raised over $100m from firms like Bain Capital Ventures, Mercato Partners, Valspring Capital, Savano Capital Partners, TriplePoint Capital, Alumni Ventures and New Leaf Venture Partners. Go deeper
M&A
🚑 Abarca Health (backed by Endeavor Global) and LucyRX (backed by LRVHealth) will merge to form a pharmacy benefit manager called Healthcare Revolution Partners. Go deeper
• EigenQ, a Columbia, Md.-based quantum tech company, agreed to go public at an implied $3b valuation via Silicon Valley Acquisition Corp. (Nasdaq: SVAQ), a SPAC led by Dan Nash (ex-Cohen & Co.). Go deeper
⚡️ Hitachi Energy, Hitachi's energy infrastructure subsidiary based in Zurich, has agreed to buy transformer kit company Canduct Group. Go deeper
⚡️ Inspiration Mobility, a Washington, D.C.-based fleet management and EV charging firm, acquired assets of Electrada, a Cincinnati-based commercial fleet electrification provider backed by BlackRock. Go deeper
It's Personnel
• Caroline Chen joined VC firm Base10 Partners as a principal. She previously was with L Catterton. Go deeper
