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November 06, 2020

Cyndx Insights is your daily window to the business world, focusing primarily 
on M&A activities, capital markets, and important technology trends.

Daily Insights provides global business coverage and categorizes
financial news from U.S.Europe and Asia.

U.S. & Canada

Amid Election Chaos, Jeff Bezos Sells $3 Billion Worth Of Amazon Shares

Jeff Bezos, billionaire founder of e-commerce and cloud computing colossus Amazon, sold $3 billion worth of Amazon shares on Monday and Election Tuesday, according to new filings with the Securities and Exchange Commission.  Read more on Forbes.com

Image: Eko1907 / Shutterstock.com

The Next Billion Dollar e-Commerce Startups

The B2B e-commerce industry has broad reach, encompassing everything from commerce infrastructure and payments technology to procurement and supply-chain solutions. But one area of the B2B e-commerce sector holds outsized promise... Find out what it is on Techcrunch.com

Image: Golden Sikorka / Shutterstock.com

Airbnb to Make IPO Filing Public Next Week 

Airbnb Inc plans to make its IPO registration public next week, putting it on course for a New York stock market debut in December even as the COVID-19 pandemic intensifies, two people familiar with the matter said on Thursday.  Read more on Metro.us

Image: Ink Drop / Shutterstock.com

SEC Raises Limits on Crowdfunding from $1.07 Million to $5 Million


The US Securities and Exchange Commission voted on Monday to raise the limits on Regulation Crowdfunding offerings from $1.07 million to $5 million in an effort to support entrepreneurs and emerging businesses. Read more on Financemagnates.com
Image: Andrey_Popov / Shutterstock.com

Lego Ventures Spins Out Light Brick Studio to Make Digital Learning Games

The Lego Group’s investment arm, Lego Ventures, has spun out a new game venture called Light Brick Studio as an independent company. The spinout is the first such move for Lego and will allow the new startup to further explore the future of digital play.  Read more on Venturebeat.com

Image: Faiz Zaki / Shutterstock.com

The Feds Just Seized Silk Road's $1 Billion Stash of Bitcoin

On Wednesday, Ars reported that someone had transferred close to $1 billion in bitcoin out of a wallet likely associated with the Silk Road crime bazaar. Now we know who that mystery party is: the US Department of Justice.  Read more on arstechnica

Image: Igor Batrakov / Shutterstock.com

U.S. Capital Raising and M&A Highlights

Ayar Labs which leverages silicon processing to develop high-speed, high-density, low-power optical-based interconnect “chiplets” raised $35m series B round co-led by Downing Ventures and BlueSky Capital. Venturebeat
Brand New Galaxy announced that it has acquired content26, a digital agency providing many of the world’s most recognized brands with advertising and content on Amazon. Venturebeat
CI Financial Corp, a Canadian asset and wealth manager will buy U.S. registered investment advisory firm Doyle Wealth Management Inc. Reuters
ColdQuanta, a quantum atomics company, raised $32M in Series A funding co-led by Global Frontier Investments and LCP Quantum Partners. Finsmes
Cytek Biosciences Inc., a provider of cell analysis instrumentation and solutions, closed a $120m Series D funding round co-led by RA Capital and Hillhouse Capital. Finsmes
Livent Corp will form a joint venture to buy Canada's troubled Nemaska lithium project and it had extended its supply agreement for the electric vehicle battery metal with Tesla Inc through the end of 2021. Reuters
Merck, is through a subsidiary, is to acquire VelosBio Inc., a San Diego CA-based clinical-stage biopharmaceutical company, for $2.75 billion. Finsmes
Protomer Technologies Inc., the biopharmaceutical company today announces the completion of an investment by the JDRF T1D Fund. VCAonline
Richemont is not for sale and the Rupert family will remain a shareholder, Chairman Johann Rupert told investors on a call on Friday. Yahoo!Finance
Unlearn, a developer of a machine-learning platform that creates Digital Twins used to populate Intelligent Control Arms in clinical studies, raised an approx. $3m Series A extension funding round. Backers included Eisai, Epic Ventures and Alumni Ventures Group. Finsmes
Ushur, a company developing conversational AI and business automation solutions, raised $25m series B round led by Third Point Ventures. Venturebeat
Vimeo, a NYC-based professional video platform, received a $150m equity investment. Backers included Thrive Capital and GIC. Finsmes
The D.O.J. is looking to block Visa’s planned acquisition of fintech start-up Plaid on grounds that it would limit competition in the payments industry. CNBC

International News

Clarks Shoes Rescued in £100m Deal with LionRock Capital

Clarks, one of the UK's oldest shoe chains, has been rescued in a £100m investment deal. The money is being invested by the Hong Kong-based private equity firm LionRock Capital. Read more on BBC.com
Image: 360b / Shutterstock.com

ADM Ventures Makes Investment in Seventure’s Health For Life Capital Fund II

ADM Ventures, the corporate venture capital arm of ADM, invested in Seventure’s Health For Life Capital Fund II. HFLC, based in Paris, is a venture capital fund dedicated to health, nutrition, microbiota and digital health. Read more on Finsmes.com
Image : Ahmetov Renat / Shutterstock.com

Bank of England Launches New £150bn Stimulus Package

The Bank of England has launched a fresh £150bn stimulus package for the UK economy amid the second Covid wave and the reintroduction of lockdown across England.  Read more on Theguardian.com
Image: lazyllama  / Shutterstock.com

Reliance Retail Raises $1.3B from PIF

The sovereign wealth fund is investing $1.3 billion in Reliance Retail for a 2.04% equity stake in the largest retail chain in India. The investment values Reliance Retail, which was founded in 2006, at $62.4 billion, the Indian firm said. Read more on Techcrunch.com
Image: Royyan Wijaya / Shutterstock.com

Dubai Watchdog Stiffens Oversight After Private Equity Fiascoes

Dubai’s financial regulator has been stepping up scrutiny of firms to avoid a repeat of two high-profile failures in the emirate’s private equity industry, Abraaj and Al Masah Capital Ltd.  Read more on Bloomberg.com
Image: JOAT / Shutterstock.com

International Capital Raising and M&A Highlights

Aveva Group, a British industrial software provider said it intends to raise £2.84 billion ($3.73 billion) through a rights issue to partly fund the acquisition of SoftBank-backed peer OSIsoft. Reuters
ByteDance, the TikTok-owner is in early talks to raise a new round of financing that will value it at $180 billion after the investment. Reuters
CENTRED, a new global platform aims to bring peace of mind to travelers raised $1.3M (approx £1M) funding in a seed round led by T9L. UKTN
EventsCase UK-based event management platform, has recently raised £3.5 million in Series A funding led by a mix of new and existing investors, including Haibun Partners. UKTN
Juggle, an online skills market for flexible work announced $2.1 million (approx £ 1.6 million) from the investors in the UK and the US, including Social Capital and 7percent Ventures and London-based Oxford Capital. UKTN
Koa Health, a digital mental health care provider based in the Netherlands, has announced €14.1 million in new funding. Tech.eu
Memo Therapeutics AG, a Schliren, Switzerland-based antibody discovery and immune repertoire analysis company, raised CHF 14m in Series B financing led by Swisscanto Invest by Zürcher Kantonalbank. Finsmes
MioTech, a Hong Kong-based provider of alternative data and insights serving the environmental, social, and governance and know your customer markets in Greater China, received a minority investment from Moody’sFinsmes
Novo Nordisk, the Danish diabetes drug makerwill acquire U.S. Emisphere Technologies, which specialises in developing orally administered versions of drugs, in a deal totalling $1.8 billion. Reuters
Osome is giving small and medium-sized businesses a way to automate their back-office duties with an accounting and corporate compliance “super app” that is now backed by a new round of $3 million in funding. XA Network and AltaIR Capital participated in the round, Crunchbase
Pony.ai, backed by Toyota Motor Corp, said on Friday it has raised $267m in the initial phase of its fundraising round that values the self-driving startup at $5.3 billion. Financialnewsletter
Provizio, an Ireland-based Accident Prevention Technology company, raised 6.2m in funding. Backers included angels along with the European Innovation Council and ACT Venture Capital. Finsmes
Riverside.fm, a Tel Aviv, Israel-based video podcasting platform, raised $2.5m in funding led by Silicon Valley investor Oren Zeev. Finsmes
RSA is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that values the British firm at about 7.2 billion pounds ($9.46 billion). Reuters
Snoop, the financial management app, has closed its first crowdfunding effort after raising over £10m from more than 1,700 investors. altfi
Starling, the U.K. challenger bank is on track to be profitable by Christmas, and has hired Rothschild to raise a new £200 million round. Techcrunch

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