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November 04, 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

REEF Technology Raises $700M

It seems like SoftBank  and the Mubadala Corp. aren’t finished taking big swings at the commercial real estate business in the U.S. They are doubling down with an investment of  $700 million into REEF Technology. Read more on  Techcrunch.com

Image: non c / Shutterstock.com

Refinitiv Acquires GIACT

Refinitiv has announced its intention to acquire GIACT. The tie-up will wed GIACT's fraud-fighting and verification capabilities with Refinitiv’s existing risk and AML/KYC compliance capabilities. Read more on  Pymnts.com
Image: rawpixel.com / Shutterstock.com

Digital Technology And Subscriptions Drive Retail Innovation

This year’s holiday season will be digital-first, and digital-only, for many companies, but estimates on holiday spending vary. In subscriptions, Amazon and Walmart are vying for an increasing portion of consumer spend. Read more on Pymnts
Image : Tartila / Shutterstock.com

Four Takeaways from Fintech VC in Q3 2020

Fintech has been a key startup story in recent quarters, with leading players in the genre raising titanic rounds at eye-popping valuations. Read more on Techcrunch.com

Image: Jirsak / Shutterstock.com

Walmart Ends Contract With Robotics Company, Opts For Human Wokers

Walmart has now decided to end its contract with a robotics company behind machines which help check if shelves are stocked, after these findings.  Read more on CNBC
Image: Ken Wolter / Shutterstock.com

To most entrepreneurs the process of raising capital remains an opaque process.  Cyndx Insider provides transparency and insights from both sides of the table. Join us and hear the perspectives from a founder who closed a round of funding and from the VC firm who made the investment. Live on Nov 5, 4PM EST

U.S. Capital Raising and M&A Highlights

Atlast, a Troy, NY-based food company focused on advancing mycelium, secured $7m in seed funding round. Finsmes
Celona, an enterprise networking company to bridge the gap between LTE/5G cellular wireless and enterprise IT infrastructure, closed a $30 million Series B round of funding led by NTTVC and Qualcomm Ventures LLC. VCnewsdaily
Concure Oncology, a Mercer Island, Wash. provider of a radiation treatment option for early-stage breast cancer, secured another $2m in funding. Finsmes
Congruex announced the acquisition of True North Management Services, LLC, a leading regional provider of wireless infrastructure. Yahoo!Finance
Guardian Capital Partners announced that it invested in Upper Echelon Products LLC. VCAonline
Hustle Fund,  a pre-seed fund built by former operators and founders, has raised $30 million for a new fund. Techcrunch
Massive Bio, a precision medicine and AI-enabled patient-centric clinical trial enrollment, announced a $2.6m funding round led by Revo Capital. VCNewsdaily
Oceans Ventures, a Newly formed NYC-based venture capital firm closed its first fund – the Oceans Ventures Fund I – totaling $11m to specifically focus on seed-stage investments. Finsmes
One Health Company, a bio company making precision medicine for dogs, raised $10M in financing led by Polaris Partners and Borealis Ventures. Finsmes
PerkinElmer has moved to expand its life sciences portfolio with CRISPR and gene editing offerings by acquiring Horizon Discovery, in a $383 million, all-cash deal. Fiercebiotech
Precursor Ventures, has raised a new tranche of capital to invest in pre-seed companies. The firm appears to have closed $29 million. Techcrunch
RealBlocks, a technology platform that enables access to alternative investments, has announced a $7 million Series A financing round led by new investor Crosslink Capital. VCNewsdaily
Shoulder Innovations, a developer of shoulder replacement systems, announced it closed an oversubscribed $21.6 million equity financing led by US Venture Partners with Lightstone Ventures. Shoulderinnovations
Tomo Networks, a fintech home buying, digital mortgage and transaction startup, has raised a seed round of $40 million led by Ribbit Capital, NFX and Zigg Capital. VCnewsdaily
Transom Capital Group, a operations-focused middle market PE firm, announced it acquired BridgeTower Media, a leading provider of B2B information, research, events, and marketing solutions. VCAonline
Udacity, which provides online courses and popularized “nanodegrees” in tech-related subjects, has secured $75 million in a debt facility. Techrcrunch

International News

Global Investor Keep Powder Dry as U.S. Election Gets Tight

Global investors in Asia are sticking with bets on China’s recovery and holding off on major portfolio changes as early results show a tight U.S. presidential election. Read more on Reuters

Image: ImageFlow / Shutterstock.com

Ant Group's $37 Billion Listing Suspended as China Slams on Brakes
 

China suspended Ant Group’s $37 billion stock market listing on Tuesday, thwarting the world’s largest IPO with just days to go, in a dramatic move that left investors and bankers scrambling for answers. Read more on Reuters

Image: rafapress / Shutterstock.com

British Patient Capital Invests
£1 Billion in UK Scaleups, with £1.5B Still To Be Deployed

British Patient Capital enables long-term investment in innovative firms led by ambitious entrepreneurs and the companies in its portfolio fall into one of eight themes, and it still has £1.5B still to be deployed.  Read more on UKTech
Image: Natasa Azdic / Shutterstock.com

Folksam Leak Shares Data of One Million Swedes with Tech Giants

Sweden’s largest insurer, Folksam, which insures 50% of homes and individuals, accidentally leaked private data on about one million of its customers to a handful of the world’s largest technology companies. Read more on Reuters
Image: Mashka / Shutterstock.com

Bits x Bites Holds $30M First Close of New Agrifood Tech Fund

Bits x Bites, an agrifood tech venture capital fund focusing on the Chinese market, raised $30M in the first close of its new $70m fund.  Read more on Finsmes.com
Image: Ahmetov Renat / Shutterstock.com

Startup India: Govt Recognized Startups Jump 57%

From around 24,927 companies recognized as startups in November last year by the Department for Promotion of Industry and Internal Trade, the number has jumped to 39,114 startups as of November 3, 2020.  Read more on Financialexpress.com
Image: Neeraz Chaturvedi / Shutterstock.com

International Capital Raising and M&A Highlights

3Commas.io, a Tallinn, Estonia-based non-custodial, Order Management System and crypto-asset management platform, raised $3M in Series A financing led by Alameda Research. Finsmes
Ardian, a private investment house, announces the acquisition of Nevel Oy, a district heating and industrial energy solutions co., from Vapo Group. Ardian
Bukalapask, an Indonesian eCommerce site received $100 million investment from Microsoft, GIC Pte and PT Erlang Mahkota Teknologi. Pymnts
CARsgen Therapeutics Holdings Limited, a Shangai, China-based biotechnology company focused on innovation and development of chimeric antigen receptor T-cell therapeutics, raised a USD186m in Series C equity financing led by Loyal Valley Capital. Finsmes
Citi Ventures has made its first investment in Mexico, taking an undisclosed stake in biller and payment platform Arcus. Finextra
Eurazeo, the French Investment group, said it raised 90 million euros ($105.02 million) through the sale of its stake in luxury fashion retailer Farfetch. Reuters
Fountain Healthcare Partners announced the final closing of its third fund, Fountain Healthcare Partners Fund III, L.P. with €125 million of committed capital. Yahoo!Finance
G4S Plc, the British private security firm rejected a takeover proposal from U.S. rival Allied Universal Security Services, saying that the highly conditional offer significantly undervalues the company. Reuters
KKR announced investment in Pinnacle Towers, a leading telecom tower company in the Philippines. Telecomlead
knokcare, a Portuguese health startup, has nabbed €1.7 million seed funding, led by the social impact fund Mustard Seed MAZE. Eu-startups
MathWallet, a Singapore-based Crypto startup, has secured $7.8 million in Series A+ financing round led by Alameda Research. Financemagnates
Meat-Tech 3D Ltd., an Israel-based developer of industrial-scale cultivated meat production technologies based on advanced 3D bioprinting, closed a $7m funding round led by Psagot Provident and Pension Funds. Finsmes
Newlat Food, the Italian food group said it would ditch plans to acquire British bread maker Hovis unless it were granted an exclusive negotiation period to “quickly” finalise an accord. Reuters
Seven & i Holdings Co Ltd, Japanese parent of the 7-Eleven convenience store chain, is aiming to sell as many as 300 gas stations following its deal to acquire Marathon Petroleum Corp for $21 billion. Reuters
Sidekick Health, a Swedish company planning to use video game elements to build care programs for chronic diseases and conditions has raised $20M in a Series A round led by Wellington Partners and Asabys Partners. Fiercebiotech
Strive, the putative UK-based operator of a youth account for kids, has acquired digital piggy bank startup GoSave in an all-stock deal. Finextra
The Protein Brewery, a Breda, NL-based developer of protein-rich, animal-free food ingredients, raised €22M in Series A funding led by Novo Growth. Finsmes
Tink, a Stockholm-based open banking platform, completed the  €15.5m acquisition of Eurobits, a Spanish account aggregation provider. Finsmes
Total is seeking to sell stakes in a number of Angolan oilfields, in what is seen as an early sign of an expected wave of divestments by big energy companies from the West African country. Reuters
TVision, a NYC-based company measuring TV’s transformation, secured $16m in funding. The round was led by SIG Asia Investments. Finsmes
Waterfall Asset Management of New York agreed to buy U.K.-based Alternative Credit Investments for £639 million in cash. Yahoo!Finance

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