Recent Deals – 16 February
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Agriculture & Food
Pairwise Plants, developer of genome editing solutions for agricultural development, secured $90 million in Series B funding from Pontifax AgTech, Deerfield, Temasek Holdings and Leaps By Bayer. Pairwise Plants aims to introduce more varieties of fruits and vegetables that have increased shelf life, better taste and improved yield. It is currently developing its first set of leafy greens, berries and cherries due by 2022.
Energy & Power
Highview Power, developer of large-scale, long duration Liquid Air Energy Storage (LAES) systems for utility and distributed power systems, raised $24 million in growth equity from Janus Continental Group and TSK. This round is a continuation of the $46 million round raised from Sumitomo Heavy
Industries last year. Highview will continue driving its global expansion and introduce new projects. Currently, the cryogenic energy storage solution can provide four hours to four weeks of energy.
Materials & Chemicals
Eurekite, developer of flexible ceramic nanofiber composites for electronics, energy and industrial applications, raised $2.4 million in Series A funding from Demcom, Oost NL and other angel investors. It also secured $2.6 million in debt financing from Netherlands Enterprise Agency and HighTech Fund. Using these funds, Eurekite aims to scale production of its fibres and drive global business development. The company offers the development of custom fibres to ensure client needs are met.
Resources & Environment
Mighty Buildings, provider of prefabricated home building service via 3D printing, raised $40 million in a Series B funding round from Khosla Ventures, Zeno Ventures, BOLD Capital Partners, Core Innovation Capital, Foundamental, ArcTern Ventures, Abies Ventures, Modern Venture Partners, MicroVentures, One Way Ventures and Polyvalent Capital. Mighty buildings will use the funding to increase their production capacity and expand their team. The solution combines the use of 3D printing, robotics and automation to build houses that are sustainable.
Transportation & Logistics
Rad Power Bikes, developer of electric bikes, raised $150 million in growth equity from Morgan Stanley Counterpoint Global, Fidelity Management & Research Company, The Rise Fund, T. Rowe Price, Durable Capital Partners and Vulcan Capital. The funding will be used to drive R&D and increase product offerings. The company provides on-demand delivery, assembly and maintenance.
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