Thursday, February 9, 2023

The Snow Foundation joins Head Start Homes’ home ownership goal

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Home ownership will become a reality for vulnerable people, thanks to the generosity of The Snow Foundation, which has provided Head Start Homes with a grant of $200,000 over the next two years. Head Start Homes Founder and Managing Director, Stephen Woodlands, said the funds would go towards supporting clients on their home ownership journey. 

Aussie hospitality supply marketplace FoodByUs completes $12m Series B

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Australia’s wholesale hospitality marketplace, FoodByUs, completed a $12m Series B funding round. The raise follows an exceptional growth period over the last year including record MoM revenue, a 200% increase in suppliers on the platform and doubling its team to 85 people. Founded in 2016 by Ben Lipschitz, Tim Chandler and Gary Munitz, FoodByUs connects SME restaurants, cafes and caterers with thousands of wholesale food and alcohol suppliers. The software goes further, fusing their ‘one-stop-shop’ marketplace with best in class procurement software features to help venues run their entire back of house operations.

Boston Metal announces $120 million Series C financing led by ArcelorMittal

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Boston Metal, a company developing tech to fully decarbonize steel production, closed $120m Series C led by multinational steel company, ArcelorMittal S.A. Microsoft's Climate Innovation Fund and SiteGround Capital also joined as new investors, alongside current investors. ArcelorMittal’s lead investment was made through its XCarb® Innovation Fund.

Silicon Valley’s Cepton closes $100m investment from Koito Manufacturing

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Cepton, Inc. (Cepton), a Silicon Valley innovator and player in high performance lidar solutions, announced the completion of its previously announced $100m investment from its long-term automotive Tier 1 partner and shareholder, Koito Manufacturing Co., Ltd. (Koito). The Investment, in the form of convertible preferred stock, was approved at a meeting of Cepton stockholders on January 11, and is convertible, beginning on the first anniversary of the issue date, into shares of common stock at a conversion price of $2.585 per share.

UpLink and HCL fund ten projects to tackle the global freshwater crisis

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Securing the global freshwater ecosystems, under increasing threat from climate change, population growth and consumer demand, has become more critical than ever. To tackle this escalating crisis, UpLink, the open innovation platform of the World Economic Forum, in partnership with global conglomerate HCL Group, has announced ten water-focused entrepreneurs who will share CHF1.75m ($1.9m) from HCL Group to scale their innovations.

TA Associates makes a strategic growth investment in Synokem

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TA Associates (TA), a global growth private equity firm, announced that it has completed a strategic growth investment in Synokem Pharmaceuticals Ltd. (Synokem). Synokem’s founders will continue as shareholders in the Company alongside TA Associates. Founded in 1983 by Mr. J.M. Arora, Synokem is one of India’s leading contract development and manufacturing organizations (CDMOs), serving clients in the branded generic domestic formulations market. In addition, the Company’s products are exported to over 30 countries. Synokem is based in New Delhi, India, with manufacturing and R&D facilities in Haridwar, India.

Nubank secures $150m from IFC to strengthen its operations in Colombia

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Nubank, one of the largest digital financial services platforms in the world, will strengthen its presence in Colombia with a loan of up to USD$150 million from the International Finance Corporation (IFC). The 3-year local currency loan will be used to boost the growth of Nubank’s local operations and expand access to financial services in the country. 

actyv.ai raises $12m in Pre-Series A funding to fuel its global expansion

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actyv.ai, a Singapore-headquartered, category creator in the enterprise SaaS with embedded B2B BNPL and insurance space, has raised a total of $12m as part of Pre-Series A funding round from 1Digi Ventures, the family office of Raghunath Subramanian, Founder and Global CEO of the company. This includes an earlier tranche of $5m from 1Digi Ventures in 2022. This will fuel global expansion, product enhancement, portfolio growth and talent acquisition.

Tigo Energy announces $50m capital raise to support its growth initiatives

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Tigo Energy, Inc. (Tigo), a provider of intelligent solar and energy storage solutions, signed a definitive agreement with L1 Energy for the purchase of $50m of newly issued Convertible Notes (the Notes) to support the Company's future growth opportunities through the deployment of its solar and energy storage solutions and repayment of existing debt.

Releaf secures $3.3m Pre-Series A funding and unveils new technologies

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Releaf, a tech company that makes it easier for consumer goods manufacturers in Africa to access high-quality ingredients for their factories, has raised $3.3m in an oversubscribed Pre-Series A funding round. The new funding will support the launch of two new technologies: Kraken II - a portable version of its award-winning palm nut de-sheller and SITE - a geospatial mapping application that informs the most profitable positioning of food processing assets.