Week Ending 03.10.19
PRECISION FOR MEDICINE ACQUIRES SIMPLICITYBIO
BRODMANN17 RAISES USD 11M
QURE.AI HIRES COMMERCIAL HEAD
AND MORE ↓
EYE ON A.I. GETS READERS UP TO DATE ON THE LATEST FUNDING NEWS AND RELATED ISSUES. SUBSCRIBE FOR THE WEEKLY NEWSLETTER.
MERGERS AND ACQUISITIONS
Precision for Medicine, the Bethesda, Maryland-based life sciences services company, said it acquired AI company SimplicityBio.
Namaste, the Toronto, Canada-based cannabis company using AI, said it is acquiring a 49% stake in chocolate maker Choklat for USD 1.5m in cash.
In December Namaste paid USD 250,000 for a 3% stake in Kief Cannabis. In October Namaste upsized a follow on offering to USD 51.75m from the original USD 45m.
The same month the company refuted Citron Research reports that a sale of US assets were to a related party under securities rules. Namaste acknowledged one action in progress by US regulators it did not identify.
Ideanomics (formerly called Seven Stars Cloud), the New York City-based AI and blockchain services firm, said it is acquiring a 51% stake in Malaysia's Tree Motion and a 11% stake in its parent, Tree Manufacturing. The parent is an electric vehicle maker and the subsidiary is the company’s sales arm.
Last week Ideanomics acquired SolidOpinion, the marketing firm using AI. In September last year Ideanomics acquired FinTalk, the secure messaging service, and said it was taking a 10% stake in Asia Times, the news service. Ideanomics also said it entered into a share swap with Liberty Biopharma, which changed its name to HooXi. The specific details of the swap were not disclosed.
Other deals include mPhase Technologies
FILINGS
No S-1 or F-1s were filed this week.
FUNDING
Brodmann17, the Tel Aviv, Israel-based autonomous driving technology maker, said it raised USD 11m in a Series A led by OurCrowd. Venture capital funds run by Samsung and Sony were also involved.
SOM Biotech, the Barcelona, Spain-based drug development company using AI, said it raised EUR 7m (USD 7.9m) from unidentified investors.
GFR Fund, the San Francisco, California-based venture capital fund, said it raised USD 20m for a second fund focused on VR/AR, AI and blockchain. GFR Fund is an affiliate of Japanese mobile gaming company GREE.
Other deals include NexTech
LEGAL & REGULATORY
Considering the potential for a National Algorithm Safety Board, from GeekWire.
PEOPLE
MixMode, the Santa Barbara, California-based cybersecurity company using AI, said it hired Bryan Elliot as vice president of engineering.
Intelinair, Champaign, Illinois-based agriculture technology firm using AI, said it hired Alison Tudor as chief product officer.
Qure.ai, the New York City-based company using AI in medical diagnostics, said it hired Chiranjiv Singh as chief commercial officer.
Board appointments include Global Gaming Technologies