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November 03, 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.

Image: waroeng vector / Shutterstock.com

U.S. & Canada

Twilio Wraps $3.2B Purchase of Segment

Twilio's $3.2 billion acquisition of Segment was officially announced three weeks ago, and now the communications API company announced that the deal had closed, astonishingly fast for an acquisition of this size. Read more on  Techcrunch.com

Image: rafapress / Shutterstock.com

Big Tech Earnings Cement Digital-First Economic Shift

Big Tech companies that reported earnings over the last several days — Alphabet, Amazon, Facebook, Twitter among them — showed that eCommerce, and the ads that keep eCommerce top of mind for consumers, are on an upswing. Read more on  Pymnts.com
Image: quka / Shutterstock.com

Unicorns Get More Magical: 2020 Cohort Shows Huge Increase in Valuation on IPO Day

Unicorns that have made exits is that the 2020 IPO cohort offered up a 117 percent increase between the last known valuation for a company and its valuation upon going public—the highest jump in a five-year timeframe.  Read more on Crunchbase
Image : Venimo / Shutterstock.com

Mastercard Taps AI To Help Banks Fight Off Cyber Risks

Mastercard has unveiled an AI-powered suite of tools designed to help banks assess cyber risks across their ecosystem and prevent breaches... potentially a $5.2 trillion global cyber breach problem  Read more on Finextra

Image: alexfan32 / Shutterstock.com

Bitcoin By The Numbers

This weekend, bitcoin’s price rose above $14,000 for the first time since January 2018, and is hovering around $13,800. This article provides a list of numbers from a variety of sources about bitcoin’s growth in 2020. Hopefully, the big picture will become clearer, as you piece some of this information together. Read more on Dailyfintech

Image: Igor Batrakov / Shutterstock.com

U.S. Capital Raising and M&A Highlights

Arcus, a New York City-based Fintech-as-a-Service platform, received an investment of undisclosed amount from Citi Ventures. Finsmes
Agora Systems closes $7 million to streamline construction supply chain: San Francisco-base has raised a $7 million Series A led by 8VC. Crunchbase
Aeva, a Mountain View, Calif.-based lidar company started by two former Apple engineers and backed by Porsche SE, is merging with special purpose acquisition company InterPrivate Acquisition Corp., with a post-deal market valuation of $2.1 billion. Techcrunch
Apkudo, a Baltimore, MD-based provider of supply chain automation solutions for connected devices, raised $14M in Series B funding. The round was led by Harbert Growth Partners and MissionOG. Finsmes
Arch Capital Group Ltd. and Watford Holdings Ltd. announced a revised definitive agreement under which Arch will acquire all of the common shares of Watford for an increased price of $35.00 per share. This revised all-cash consideration is valued at approximately $700 million. Yahoo!Finance
Belcan, LLC announced that it has acquired Telesis Corporation, a leading technology services and solutions firm serving defense and civilian federal government customers. Terms of the transaction were not disclosed. Yahoo!News
Coupa Software Inc said on Monday it acquired supply chain software firm LLamasoft for about $1.5 billion to strengthen its payment management platform, which helps manage expenses. Reuters
Dorel Industries Inc , the Canadian bicycle maker said agreed to be taken private by a group led by private equity firm Cerberus Capital Management in a deal valued at about C$470 million ($354.3 million). Reuters
Erbi Biosystems, a Woburn, MA-based microfluidic bioprocess instrumentation company based on technology developed at MIT, closed a $3.8M funding round. The round was led by Jaguar Biotech. Finsmes
Endurance International Group Holdings, Inc.has agreed to be acquired by affiliates of private equity firm Clearlake Capital Group L.P. in an all-cash transaction valued at about $3.0 billion, including debt. Nasdaq
Flock Safety, a public safety-as-a-service company that builds ethically-designed crime-solving technology, announced today a $47 million Series C led by Meritech Capital. VCAonline
Forethought, an AI and Machine Learning platform for the enterprise, raised $17m in Series B funding from celebrity investors and existing investors. Finsmes
Leena AI a startup was firmly focused on building HR chatbots and HR policy platform, announced an $8 million Series A led by Greycroft. Techcrunch
Momi Brands, Inc., a provider of a breast pump and an infant feeding system, closed a $1M seed funding round led by Kapstone Medical and Enventys Partners. Finsmes
Parts Authority, a leading national distributor of automotive aftermarket parts, announced the signing of a definitive agreement for the acquisition of a majority stake by Kohlberg & Company, LLC. Kohlberg
Petrichor Healthcare Capital Management, a private equity firm that makes structured investments in the healthcare sector, announced the final close of Petrichor Opportunities Fund I, LP which was oversubscribed with $410 million in capital commitments. VCAonline
REEF Technology, like WeWork, leases most of the real estate it operates and upgrades it for leasees.  SoftBank  and the Mubadala Corp. invested $700 million into REEF. Techcrunch
Riverside Partners, LLC, a Boston-based PE firm, announced today the completion of an investment in Syner-G Pharma Consulting, LLC. VCAonline
Skillshare, a NYC-based online learning community for creativity, received an investment from NewSpring’s growth and expansion strategy. The amount of the deal was not disclosed. Finsmes
SkyHive, an AI-based SaaS platform to reskill enterprise workforces and communities, raised $8m in Series A financing led by AllegisCyber Capital, Accenture Inc., Workday Ventures, and the Partnership Fund for New York City. Finsmes
Stensul, a startup aiming to streamline the process of building marketing emails, has raised $16 million in Series B funding led by USVP. Techcrunch
TVisio is building what its team hopes will become the standard for measuring streaming viewership — and to accelerate those efforts, it’s raised $16 million in new funding led by SIG Asia Investments. Techcrunch
Twilio was interested in acquiring Segment. The $3.2 billion deal was officially announced three weeks ago, and this morning the communications API company announced that the deal had closed, astonishingly fast for an acquisition of this size. Techcrunch
Uhuru Design, a Brooklyn-based design furniture designer and manufacturer, received a $6.9m private equity investment. Finsmes
Zeal Capital Partners, a Washington, DC-based early stage venture capital firm, held a $22.3M close of its Inclusive Investing™ strategy. The close was anchored by PayPal. Finsmes

International News

Gousto Becomes UK's Latest Tech Unicorn

Gousto, a UK recipe box provider, has become only the fourth UK company in 2020 to achieve ‘Tech Unicorn’ status. Just eight years since launch, Gousto joins an elite group of 19 venture-backed UK businesses, including the likes of Deliveroo, that have achieved a valuation of at least USD1 billion. Read more on Privatequitywire.co.uk
Image: Solarseven / Shutterstock.com

Carrefour Buys Bio C'Bon To Accelerate Organic Food Focus

Carrefour, Europe's largest retailer, said on Monday it was buying the bankrupt specialist distributor Bio c'Bon for 60 million euros (£54 million), as part of plans to revamp its food range and focus more on organic food..  Read more on UK.Reuters
Image: PhotoStock10 / Shutterstock.com

Japan's Nidec Plans $2B EV Motor Factory in Europe

Nidec Corp will spend 200 billion yen ($1.9 billion) on a new plant in Serbia to build motors for electric vehicles as it seeks to win more business from automakers turning away from internal combustion engines, the Nikkei newspaper reported.  Read more on Reuters
Image: Gorodenkoff / Shutterstock.com

Hong Kong’s FinTech Development Could Push its Financial Center Status

Compared to other technologies, fintech is the equivalent of a new industrial revolution and it can be potentially used as a lever to further push Hong Kong’s position as a global financial center, said Christopher Hui, the secretary for financial services and the treasury  Read more on Cnbc.com
Image: Patrick Foto / Shutterstock.com

Mesut Ozil Looks Beyond Soccer With Move Into Venture Capital
 

Soccer star Mesut Ozil is forging a new career in finance, joining San Francisco-based venture capital fund Class 5 Global as a strategic adviser. The Arsenal midfielder joins a growing list of sports stars moving to the world of startup investments. Read more on Bloombergquint.com

Image: Christian Bertrand / Shutterstock.com

International Capital Raising and M&A Highlights

Automata, a UK-based fintech company raised €1.5M (approx £1.3 million) in private investments as part of its ongoing Series A funding round. UKTech
Charm, a UK the peer-to-peer impact investment platform, has raised around €300K from 547 investors in an equity crowdfunding campaign on Crowdcube, breaking it’s target by 273%.  Eu-startups
Emjoy, a Barcelona, Spain-founded audio-based intimate wellbeing startup, raised €2.5M in seed funding in September 2020. The round was led by JME Ventures. Finsmes
eSwapp, a London based startup with a Machine Learning platform for colleagues to swap skills raised £350k in funding from a private angel. Finsmes
flaschenpost, the German drinks delivery startup has been sold to food giant The Oetker Group for €1 billion. Eu-startups
Floadia Corporation, a Kodaira-shi, Tokyo-based non-volatile memory technology company, raised approximately 1.2 billion yen in its Series C round of financing. The round was led by Teijin Co., Ltd. together with TEL Venture Capital Inc. Finsmes
inRiver, a Malmö, Sweden-based provider of product information management (PIM) solution for businesses to sell more products, closed a $32m funding round. The round was led by Lugard Road Capital. Finsmes
Julius Baer CEO Phillipp Rickenbacher expects restrictions imposed by Switzerland’s financial watchdog FINMA to be lifted next year, adding Baer is open to big acquisitions. Reuters
Logisly, a Jakarta-based startup that describes itself as a “B2B tech-enabled logistics platform,” announced it raised $6 million in Series A funding led by Monk’s Hill Ventures. Techcrunch
Marketlend, a Sidney, Australia-based marketplace trade credit platform, recently closed a new $100 million financing facility with Crayhill Capital Management LP, a New York based private credit manager and asset-based lender. Finsmes
Marshmallow that’s aiming to take on those larger legacy insurance giants with a new approach to determining risk is announcing a $30 million Series A round of funding from investors including Outrun Ventures. Techcrunch
Sanofi has struck a deal to buy biotech firm Kiadis for €308 million ($358 million), offering €5.45 a share for Kiadis. Fiercebiotech
Skeleton Technologies, an Estonian manufacturer of ultracapacitor-based energy storage, announced it completed a €41.3 million financing round. All existing investors participated in the raise. Eu-startups
Statkraft, a Norwegian utility has agreed to buy British solar power developer Solarcentury in a deal worth 117.7 million pounds ($151.34 million) that would boost its renewable energy output. Reuters
Vitibot, a Reim-based startup which develop planet-friendly wine-growing and agricultural practices has closed an €11 million funding round from its existing investors. Eu-startups
Zip Co Limited, a Sidney, Australia-based player in the digital retail finance and payments industry, closed a A$100m debt funding from Victory Park Capital. Finsmes

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