Week Ending 6.28.2020
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 14 acquisitions, 12 equity filings, 30 funding rounds, some regulatory moves, and 25 executive hires in the AI sector.
Read more below ↓
MERGERS AND ACQUISITIONS
AE Industrial Partners, the Boca Raton, Florida-based equity firm specializing in aerospace, defense and government services and power generation, said it has acquired NuWave Solutions, AI-powered advanced analytics platform.
Amazon, the Seattle, Washington-based international e-commerce website, said it has acquired Zoox, a company developing autonomous ride-hailing vehicles using AI.
Apple, the Cupertino, California-based mobile phone and computer giant, said it has acquired Fleetsmith, an automation device setup, inventory, patching and security company that uses AI.
Microsoft, the Redmond, Washington-based computer software using AI, said it has acquired CyberX, cybersecurity platform built by blue team experts that uses AI.
Databricks, the San Francisco, California-based data analytics firm using AI, said it has acquired Redash, collaborative visualization and dashboarding platform.
In February, Databricks raised USD $250 million in a Series E also led by Andreessen Horowitz with participation from Microsoft.
CloudEngage, the Spokane, Washington-based intuitive web personalization platform, said it has acquired AnswerDash, AI-powered self-service support and e-commerce solutions.
TiffinLabs, the Singapore-based AI-driven kitchen operating and management system, said it has acquired over 1,000 kitchens across the US, Europe and Asia to create a global network of smart kitchens.
Redwire, the Jacksonville, Florida-based mission critical space solutions and high-reliability components for the next-gen space economy, said it has acquired Made In Space, on-orbit space manufacturing technologies that uses robotics.
Dotmatics, the Hertfordshire, England-based scientific informatics software and services company using AI, said it has acquired BioBright, a scientific lab data automation company.
Keysight Technologies, the Santa Rosa, California-based electrical and electronic manufacturing, said it has acquired Eggplant, software test automation platform provider that uses AI.
ServiceNow, the Santa Clara, California-based cloud-based IT and HR management solutions, said it has acquired Sweagle, configuration data management company that uses AI. In February, ServiceNow acquired Passage AI and Loom Systems.
mCloud Technologies, the Vancouver, Canada-based AI-powered building services firm, said it has acquired Kanepi Group, an information, visualization and analytics software technology based in Australia.
CloudEngage, the Seattle, Washington-based simplifies web and mobile website personalization, said it has acquired AnswerDash, AI-powered self-service support.
Atos, the Paris, France-based end-to-end orchestrated hybrid cloud, Big data, business applications, and digital workplace solutions company, said it has acquired Paladion, AI-driven cybersecurity provider.
FILINGS
Agora, the Shanghai, China-based real-time streaming platform using AI, saw its shares go up 116 percent above its upsized IPO price on its first day of trading on the Nasdaq. The company raised USD $350 million by selling 17.5 million ADS at USD $20 each. Agora originally sought USD $315 million from an IPO for 17.5 million ADS priced at USD $16 to USD $18 each.
1Life Healthcare (one medical), a San Francisco, California-based primary care platform using AI, said shareholders, including Carlyle and Maverick Capital, raised USD $247 million by selling 8.3 million shares at $31 each, a 2.5 percent discount.
dMy Technology Group, the Las Vegas, Nevada-based blank check company, said it plans to raise USD $200 million from an IPO by selling 20 million shares at USD $10 each on the Nasdaq under the symbol DMYD.U. AI companies are one type of firm the company will seek to buy.
nCino, the Wilmington, North Carolina-based cloud-based bank operating system using AI, said it plans to raise a placeholder for USD $100 million from an IPO on the Nasdaq under the symbol NCNO.
Relay Therapy, the Cambridge, Massachusetts-based cancer drug-discovery platform using machine learning, said it plans to raise a placeholder for USD $200 million from an IPO on the Nasdaq under the symbol RLAY.
Renalytix AI, the Penarth, UK-based AI-powered kidney disease diagnostic platform, said it plans to raise a placeholder for USD $86 million from an initial public offering on the Nasdaq under the symbol RNLX.
Kiromic Biopharma, the Houston, Texas-based cancer research firm using AI, refiled for a USD $26.6 million IPO of 1.9 million shares at USD $12 to $14 each on the NYSE under the symbol KRBP. In May, the company originally filed a placeholder for USD $20 million.
Skillful Craftsman Education Technology, the Wuxi, China-based online vocational training company using AI, refiled for a USD $18.9 million IPO of 3 million shares at USD $5.50 to USD $6.60 each on the Nasdaq under the symbol EDTK. In April, the company originally filed a placeholder for USD $16.5 million IPO for 3 million shares at USD $4.50 and USD $5.50.
Other filings include Artius, Predictive Oncology, Father Time, and Tela Bio
FUNDING
OJO Labs, the Austin, Texas-based real estate technology firm using AI, said it has raised USD $62.5 million in a Series D financing round led by investment firm Wafra. In October, the company acquired RealSavvy, a property platform for realtors.
Enko Chem, the Woburn, Massachusetts-based develops products for farmers to protect their crops from pests and disease using machine learning, said it has raised USD $45 million in a Series B round of financing led by the Bill & Melinda Gates Foundation.
Immuta, the Boston, Massachusetts-based automated data governance platform using machine learning, said it has raised USD $40 million in a Series C funding round led by Intel Capital.
Rasa Technologies, the San Francisco, California-based company leveraging Natural Language Processing (NLP) research, machine learning and flexible infrastructure to developers for conversational AI, said it has raised USD $26 million in a Series B financing round led by Andreessen Horowitz.
ClickUp, the San Diego, California-based only all-in-one customizable workplace productivity platform, said it has raised USD $35 million in a Series A funding round led by Craft Ventures and Georgian Partners.
Nylas, the San Francisco, California-based API platform developer, said it has raised USD $25 million in a Series B funding round led by 8VC and Round13 Capital. In March, the company acquired June.ai.
Librestream, the Winnipeg, Canada-based remote collaborating and communication solutions provider using AI, said it has raised USD $24 million in a Series D funding round led by Canadian Business Growth Fund. This Series D raise brings total financing to over USD $55 million.
W3BCLOUD, the Dublin, Ireland-based high-performance computing, graphics and visualization technologies company using AI, said it has raised USD $20.5 million in convertible notes led by Advanced Micro Devices and ConsenSys.
Element Analytics, the San Francisco, California-based industrial data hub provider using machine learning, said it has raised USD $18 million in a Series B financing round co-led by Activate Capital and Forte Ventures.
Cyclica, the Toronto, Canada-based AI-augmented in silico discovery platform, said it has raised CAD $23 million (USD $16.89 million) in a Series B financing round led by Drive Capital.
Connecterra, the Amsterdam, Netherland-based agtech startup using AI to optimize the dairy farming industry, said it has raised EUR €7.8 million (USD $8.97 million) in a Series B funding round led by ADM Capital, Kersia and Pymwymic.
Deep01, the Taipei, Taiwan-based healthcare medical CT imaging solutions using AI, said it has raised USD $2.7 million in a financing round led by ASUSTeK Computer Inc.
Carlsmed, the San Diego, California-based medtech company using machine learning, said it has raised USD $2.5 million in a seed round led by Cove Fund II.
InformAI, the Houston, Texas-based healthcare AI startup, said it has raised USD $1.8 million in a funding round led by DEFTA Partners.
UJet, the San Francisco, California-based provider of cloud customer support software using AI, said it has raised USD $55 million in a funding round led by Sapphire Ventures.
Armored Things, the Boston, Massachusetts-based startup using AI to transform data into valuable safety insights, said it has raised USD $7 million in additional seed funding led by Will Ventures.
Other fundings include CitySwift, GroupSolver, NextBillion.ai, Cape Privacy, Candidate Labs, Trivie, OneView, Pixellot, Openly, Ubble, Replai, 7Learnings, 7bridges and Agamon.
LEGAL AND REGULATORY
The Dutch government is providing the Nederlandse AI Coalitie (Dutch AI Coalition), a public-private partnership, with an additional EUR €23.5 million in funding.
The Australian government’s newly formed Australian Space Agency has partnered with Fugro to design, build and operate the Australian Space Automation, AI and Robotics Control Complex in Western Australia.
US lawmakers propose facial recognition ban.
PEOPLE
Federos, the Dallas, Texas-based provider of AI-optimized assurance, analytics and automation solutions, said it has hired Keith Buckley as CEO.
VUniverse, the New York City-based personalized programming recommendation platform using AI, said it has hired Julie Rieger as CEO.
Meridian Group International, the Deerfield, Illinois-based IT services and equipment leasing company using AI, said it has hired Jeff Murray as CEO.
ATAI Life Sciences, the London and New York City-based biotech platform that addresses unmet medical needs in mental health, said it has hired David Keene as CEO. Keene led the development of DTHR-ALZ, an AI-enabled device for Alzheimer's disease.
Palo Alto Networks, the Santa Clara, California-based cybersecurity company using AI, said it has hired Luis Felipe Visoso as CFO. In April, the company acquired IT firm, CloudGenix for USD $420 million.
Wrike, the San Jose, California-based collaborative work management platform using AI, said it has hired Chad Bennett as chief human resources officer and Carol Lee as CFO.
Relativity Space, the Los Angeles, California-based autonomous rocket factory and launch services for satellites using machine learning, said it has hired Muhammad Shahzad as CFO.
DIH, the Norwell, Massachusetts-based robotics and virtual reality technology provider, said it has hired Vaseem Mahboob as executive vice president and CFO.
Genesys, the San Francisco, California-based cloud and AI-powered customer experience and contact center solutions company, said it has hired Joyce Kim as chief marketing officer.
Espressive, the Santa Clara, California-based AI-powered enterprise service management company, said it has hired Keno Helmi as chief revenue officer. In March, the company raised USD $30 million in a Series B funding led by Insight Partners.
Tamr, the Cambridge, Massachusetts-based cloud-native machine learning-based data mastering company, said it has hired Anthony Deighton as chief product officer.
Care Bridge International, the Lakewood Ranch, Florida-based analytic-powered outcomes using machine learning, said it has hired Christopher Frankland as chief innovation officer.
Kiio, the Madison, Wisconsin-based provider of digital musculoskeletal solutions, said it has hired Afsana Akhter as chief growth officer.
BioXcel Therapeutics, the New Haven, Connecticut-based biopharmaceutical company utilizing AI to develop cancer-fighting drugs, said it has hired Reina Benabou as senior vice president and chief development officer.
SentinelOne, the Mountain View, California-based cybersecurity firm using AI, said it has hired Chuck Fontana as senior vice president of corporate and business development. In February, the company raised USD $200 million in a Series E funding led by Insight Partners.
Veritone, the Costa Mesa, California-based software and services company for the AI industry, said it has hired Thor Valdmanis as senior vice president of corporate communications, Locke Truong as vice president of marketing for media and entertainment and monetization, and Ryan Bazler as vice president of marketing for aiWARE.
Yonomi, the Austin, Texas-based simple smart home integration platform using AI, said it has hired Sumati Sharan Stewart (former Amazon Alexa Executive) as senior vice president of sales and marketing.
Excella, the Arlington, Virginia-based agile transformations, modernizing legacy IT systems, and delivering AI solutions, said it has hired Christina Seiden as vice president of strategic growth.
Stylitics, the New York-based AI-powered fashion company, said it has hired Marnie Sudnow as vice president of client success. In September 2019, the company raised USD $15 million in a Series B round led by PeakSpan Capital.
Global Prior Art, the Boston, Massachusetts-based provider of patent research and analytics services using machine learning, said it has hired Chris Smyth as vice president of business development.
UVeye, the Tel-Aviv, Israel-based auto inspection company using AI, said it has hired Glenn Hemminger as director of North American operations and Bob Rich as sales director of North American.
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