October 30, 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

U.S. Economy Sees Record Growth in Third Quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday. The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction.  Read more on  CNBC
Image: Ronnie Chua /

Telehealth Dealmaking Is Up At Every Stage - So Are Valuations

In recent months, seed investors have backed a bunch of multimillion-dollar rounds for Telehealth startups. We’re seeing big rounds at all stages and VCs have invested well over a billion dollars in telehealth this year. See where the money is going... Read more on  Crunchbase

Image: Julia Lazebnaya /

Marvell is Acquiring Inphi for $10B

It’s been quite a time for chip industry consolidation, and today Marvell joined the acquisition parade when it announced it is acquiring Inphi in a combination of stock and cash valued at approximately $10 billion, according to the company.  Read more on

Image: Vector Insanity /

Qualtrics Cofounder Buys Utah Jazz for $1.66B

Ryan Smith is now taking his fandom to the next level, as billionaires are wont to do. He announced plans to buy a majority stake in the Utah Jazz today at a press conference at the Vivint Smart Home Arena, where the Jazz play. 

Image : Sergey Nivens /

Walmart's New Test Stores Will Experiment with AR, Mobile, Revamped Checkout and More

Walmart  over the years has been working to turn its physical retail stores into online fulfillment centers, and now, with its latest set of test stores announced today, the retailer will try out ideas to make that transition more seamless. 
Read more on Techcrunch

Image: Ken Wolter /

The Future of Sustainability Lies in the Cloud

No matter business you run, making the switch to the cloud has huge benefits. Easy access to data, unlimited storage capacity, lower costs and you’ll be doing the environment a huge favor as well. Cloud computing is the future of sustainability, written exclusively for Cyndx Insights readers. Read more on Cyndx

Image: Courtesy of Needpix

U.S. Capital Raising and M&A Highlights

Accel-KKR, announced the successful closing of its Emerging Buyout Partners LP with $640 million in committed capital. The oversubscribed fund, will invest in small-cap software and tech-enabled services companies. Yahoo!News
Advanced Chemotherapy Technologies, Inc., a clinical-stage drug delivery company, closed a $5.5m Series A round led by Khosla Ventures. Finsmes
Alliance Data Systems, which provides co-branded and private-label credit cards, announced on it will acquire Bread and its digital payments platform for $450 million, including $100 million of the company’s common stock. Pymnts
Arcline Investment Management, a growth-oriented PE firm, announced that it has acquired a controlling stake in SYNEO from Rockwood Equity. VCAonline
Arable helps farmers determine crop need such as more light, water, or nutrient, raised a $20 million Series B round led by Prelude Ventures. Crunchbase
Atmos, a proptech company announced it raised another $4 million, this time from Khosla Ventures and others. Techcrunch
Benson Hill, a St. Louis-based food tech company, closed a $150m Series D funding round led by Wheatsheaf Group and GV. Finsmes
Cann, an LA-based thc-infused drink company, has received funding from Gwyneth Paltrow,  Rebel Wilson, Ruby Rose, Darren Criss, Baron Davis, Tove Lo, and Casey Neistat. Techrunch
Celero Commerce, announced the acquisition of TransNational Payments, a provider of electronic payments technology and SaaS solutions. Yahoo!News
CoreCare, a provider of revenue management services for healthcare companies has raised $3 million in a seed financing round from Primetime Partners, Goat Capital, Funders Club and Liquid2Ventures. Techcrunch
Curve Health, a NYC-based company that delivers connected senior care, raised $6M in seed funding led by Lightspeed Venture Partners. Finsmes
Elite Model World is in talks to go public through a merger with blank-check firm Galileo Acquisition Corp. MSN
Fabric, a startup that makes financial planning technology for families, raised $18 million in a Series B funding round led by CNO Financial Group. Bizjournals
Funding U, a financial technology company serving high-performing, underrepresented college students, closed a $14m debt and equity funding. Investors include Deciens Capital, Valor Ventures and others. Finsmes
GeoLinks, a telecommunications company, secured investment from a group led by Rock Mountain Capital. Details were not disclosed. Finsmes
Goodcover, an insurtech startup, announced the close of a $7.5 million Series A funding round led by Goodwater Capital. Techrunch
Hermeus, seeking to build a Mach 5 aircraft, has raised a $16 million Series A round, led by Canaan Partners. Techcrunch
LightDeck Diagnostics, company’s test rapidly assess the presence of specific pathogens, raised $11 million in Series B financing from Incubic, Entrada and Boulder Ventures. Techrcunch
Northrop Grumman is reportedly mulling the sale of its technology services unit. The deal could bring in at least $3 billion. Nasdaq
PORTL Hologram, is building a hologram-based communication machine raised a $3 million round Tim Draper, and others. Techcrunch
Q32 Bio, an autoimmune player raised $60 million from the likes of OrbiMed, Atlas Venture and Abingworth. Fiercebiotech
Raycast is a developer-focused productivity tool and has closed a $2.7 million seed round led by Accel. Techcrunch
RealBlocks, a tech platform enabling access to alternative investments, announced a $7 million Series A financing led by Crosslink Capital. Yahoo!Finance
Scorpion Therapeutics, Inc., a next-generation precision oncology company, closed a $108m Series A financing led by Atlas Venture, Omega Funds, and Vida Ventures. Finsmes
Skael, a technology company offering an automation platform for deploying digital employees, secured $4.1m in seed funding from Bonfire Ventures, Daher Capital, Backend Capital, RIDE Ventures, StratMinds VC and others. Finsmes
Slingshot Aerospace turns Earth and space observation data into something useful, raised an $8 million Series A led by ATX Venture Partners. Techcrunch
Tomo Networks, a digital mortgage and transaction company, raised $40m in seed funding led by Ribbit Capital, NFX and Zigg Capital. Finsmes
Transcend, a NYC-based provider of business optimization solutions for financial firms, closed a $10m Series A financing led by Nyca Partners. Finsmes
Wise, a Fintech startup, has raised a $12 million Series A round led by Techcrunch
ZeroEyes, the AI-based platform focused solely on weapons detection, has secured $1.5 million in funding, led by Grateful Investments. Securityinformed

International News

HV Capital Launches New Fund of €535 Million For Europe's Future Unicorns

HV Holtzbrinck Ventures has raised a new €535 million fund to support up-and-coming digital market leaders from Germany and Europe. The latest fund brings assets under management to over €1.7 billion. Read more on Eu-startups
Image: Natasa Azdic /

LVMH, Tiffany Agree on Lower Price in $16 Billion Takeover Deal

U.S. jeweler Tiffany & Co has agreed with LVMH to slightly lower the price of its acquisition by the French luxury goods group, in a move set to end a legal dispute between the two.  The lower price of $16 billion takeover is less than 3% of the initial deal price. Read more on Reuters

Image: anythings /

Siemens Agrees to Sell Flender to Carlyle Group in $2.4B Deal

Siemens has agreed to sell Flender to U.S. buyout group Carlyle Group in a deal valuing the mechanical drives business at 2.025 billion euros ($2.39 billion). Read more on Reuters
Image: NAR Studio /

VCs Poured Capital into European Startups in Q3

Visa has inked an agreement to acquire YellowPepper, which works with startups in the Caribbean and Latin America, according to an emailed press release. Read more on
Image: Brian A Jackson  /

VentureIsrael Launches New Venture Capital Fund

Tel Aviv, Israel-based VentureIsrael has launched a new venture capital fund, which will invest in early stage deep-tech startups. The fund’s initial closing has received support from private and institutional investors globally.  Read more on
Image: Ahmetov Renat /

Why You Have to Pay Attention to the Indian Startup Scene

Data shows that India’s venture capital scene has grown sharply in recent years. 2019 was the country’s biggest ever in terms of venture dollars invested, with Bain counting $10 billion during the year. Read more on

Image: Nook Hok /

International Capital Raising and M&A Highlights

Authentic Vision, GmbH, an Austrian company providing anti-counterfeiting solutions, announced it closed a $5 million Series B round with Custos Privatstiftung, Dolby Family Ventures, Gronova Vision, TAKKT AG. UKTech
BOOM, a photo tech startup, announces it has closed a $7m A round led by United Ventures. UKTN
GetYourGuide, a travel startup, has closed funding, in the form of a convertible note, of €114 million ($133 million) led by Searchlight Capital, SoftBank Vision Fund, KKR, Battery Ventures, Highland Europe, Spark Capital, Lakestar, Heartcore Capital, NGP Capital. Techcrunch
Keyrock, a Brussels-based fintech startup has raised €4.3 million in a round co-led by SIX Fintech Ventures and MiddleGame Ventures.
Nutrium, a digital health startup, raised a €4.25 million Seed round led by Indico Capital Partners, alongside the Social Innovation Fund. Techcrunch
Stay Open, is transforming unused commercial space into pod hotels and co-living, closed its $2m seed round led by a European family office. Finsmes
WareIQ, a Bangalore startup which operates a platform to leverage the warehouses across the country, raised a $1.65m Seed financing round from YC, FundersClub, Pioneer Fund, Soma Capital, Emles Ventures...Techcrunch
Worldline SA selected UBS Group AG and BNP Paribas SA for the potential sale of its payments terminal operations, at a valuation of €3 billion. MSN

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