Recent Deals – 02 February

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Agriculture & Food

Wolt, a European-focused food delivery service provider, secured $530 million growth equity in a round led by Iconiq Capital. Other investors include 83North, EQT Ventures, Goldman Sachs, Highland Europe, Vintage Investment Partners, Coatue Management, DST Global, EQT Partners, KKR, Tiger Global Management and Prosus Ventures. The investment will strengthen Wolt’s position in the market and help expand its product offerings. To cater to the demand risen from Covid-19, Wolt now delivers groceries, cosmetics and medical supplies as well.

Energy & Power

Sila Nanotechnologies develops silicon anode-based lithium-ion batteries for use in electric vehicles, consumer electronics and electric power grids. It has raised $590 million in growth equity from Coatue, T. Rowe Price, 8VC, Bessemer Venture Partners, Canada Pension Plan Investment Board and Sutter Hill Ventures. Funding will be used in the development of a new North America 100 GwH plant to produce anode materials. The company now has a post-money valuation of $3.3 billion.

Materials & Chemicals

Riverlane, developer of a quantum simulation software for the development of materials, drugs and catalysts, raised $20 million in a Series A round from Draper Espirit, Cambridge Innovation Capital, Amadeus Capital Partners and University of Cambridge. The funding will be used to build-out the operating system for the quantum computers, as well as expand reach internationally.

Resources & Environment

PulPac, manufacturer of fiber-based packaging to replace plastic, secured $2.6 million from Nordea. Funding will be used to drive commercialization of technology and work on scalability through strategic partnerships. PulPac also aims to industrialize its Dry Molded Fibre production process, after successful pilot runs of a fully automated line.

Transportation & Logistics

Rivian, developer of electric trucks and SUVs, raised $2.65 billion in growth equity in a round led by T. Rowe Price with Fidelity Management & Research Company, Amazon, Coatue and D1 Capital Partners participating. Rivian plans to launch the R1T pickup truck, R1S SUV and the Amazon commercial delivery vehicles this year. Amazon has put in an order of 100,000 electric vans. The new funding puts Rivian at a valuation of $27.6 billion.

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