Weekly-Round-Up-April 17th to April 23rd
April 24th, 2023
Capitola, a commercial insurance digital platform that connects brokers and carriers and employs AI-based risk appetite matching to expedite the placement process, announced a $15.6 million Series A fundraising round. This investment, led by Munich Re Ventures, will be used to expand Capitola’s platform, with a focus on its market intelligence capabilities, and to drive sales in the United States. This round follows a $5 million Series Seed round in 2021 led by Lightspeed Venture Partners, who also participated in this round.
Springtide Child Development has been bought by Cortica, the premier physician-led autism services firm that treats the whole child and helps children with developmental difficulties thrive. Deerfield Management and Optum Ventures lead the funding round. Springtide’s investors rolled their whole share into Cortica in the acquisition of Springtide, a premier integrated data-driven autism provider in the Northeast. Cortica has also acquired the Melmed Center, an Arizona-based developmental pediatrics clinical and research group. Across the country, the firm presently owns and runs 23 integrated autism centers. RA Capital Management and Echo Health Ventures have joined current Cortica investors Longitude Capital,.406 Ventures, Questa Capital, Ajax Health, Aperture Venture Partners, and the Autism Impact Fund.
Memora Health, the leading intelligent care enablement platform, has announced a $30 million strategic investment. General Catalyst led the financing, which also included Northwell Holdings, Northwell Health’s venture investment arm, NorthShore – Edward-Elmhurst Health, PagsGroup, and other strategic investors. Existing investors Andreessen Horowitz, Transformation Capital, and Frist Cressey Ventures also contributed to the round of fundraising.
Odeko announced a $53 million Series D funding round, bringing its total equity investment to $177 million. The investment was headed by current investor B Capital, with additional funding provided by GGV Capital and Tiger Global Management. Amex Ventures, KSV Global, and FJ Labs were among the new investors in the round.
Noah Medical, a medical robotics pioneer, has raised $150 million in Series B funding. Noah Medical will use the money to address expanding demand for the Galaxy System, its next-generation, integrated solution for guided robotic bronchoscopy, with involvement from a number of well-known institutional and strategic investors. The oversubscribed round, led by the Softbank Vision Fund and co-led by Prosperity7 Ventures, also included investments from Tiger Global and existing investors such as Hillhouse, Sequoia China, Shangbay Capital, Uphonest Capital, Sunmed Capital, Lyfe Capital, 1955 Capital, AME cloud ventures, and undisclosed strategic investors.
EdgeQ Inc, a leader in 5G wireless infrastructure, announced a $75 million financing round as well as the appointment of Jim Anderson, CEO and President of Lattice Semiconductor, to the company’s Board of Directors. EdgeQ will use the funds to speed up production of its award-winning 5G + AI ‘Base Station-on-a-Chip’ to fulfill customer demand, as well as to build its next generation chip. Phaistos Investment Fund, Strategic Development Fund (SDF), the investment arm of the United Arab Emirates Tawazun Council, Singapore-based global investor EDBI, IRONGREY, ST Engineering, Yaletown, ClearSky, and other existing investors contributed $75 million.
CoreWeave, a specialist cloud provider designed for large-scale GPU-accelerated workloads, raised $221 million in Series B fundraising today. Magnetar Capital, a major alternative asset manager, led the transaction, which included contributions from NVIDIA and Nat Friedman and Daniel Gross.
Pagaya Technologies, a worldwide technology business that provides artificial intelligence infrastructure for the financial ecosystem, announced today that Oak HC/FT, a long-time investor, is investing $75 million in the form of a convertible perpetual preferred instrument. The preferred converts at $1.25, representing a 36% premium to Pagaya’s closing price on April 19, 2023. The investment improves Pagaya’s position in the present market to pursue strategic investments, especially acquisitions, to drive value alongside its existing strong organic growth profile.
Weekly Round-Up – April 10 to April 16
Weekly Round-Up – April 3 to April 9