Recent Deals – 2 March
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Agriculture & Food
Standard Cognition, developer of artificial intelligence powered smart checkout systems, raised $150 million in growth equity from SoftBank, CRV, EQT Ventures, SK Networks and TI Platform Management. Funding will be used to scale operations to reach a goal of 50,000 retail locations over the next 5 years. Currently in the pilot phase, the technology tracks and bills customers as items are taken from the shelves. This new round of funding pushes Standard Cognition’ valuation to $ 1 billion.
Energy & Power
Malta, developer of electro-thermal energy storage solutions, closed a $ 50 million Series B round led by Proman Goup. Other investors include Breakthrough Energy, Alfa Laval and Dustin Moskovitz. Malta will also partner with Proman Group to leverage their complementary engineering expertise. This deal will support development of Malta’s first commercial scale plant.
Materials & Chemicals
Bloom Biorenewables, developer of a high-yield process to convert cellulose and lignin into chemical products, raised $4.75 million in seed funding from Breakthrough Energy, Beyond Black Venture Capital and other undisclosed angel investors. Bloom has developed its first set of marine biofuels, plastics and fragrances, and will use this funding to establish market validation. The funding will also be used to expand team and form an R&D facility.
Resources & Environment
Everdrop, developer of dissolvable cleaning tablets to reduce the need for plastic containers, secured $21.8 million Series A investment from Felix Capital, HV Capital and Vorwerk Ventures. The company plans to expand its product offering and increase market reach across Europe and the U.S. Everdrop has also developed alternatives for single-use plastics such as dishwasher tablets.
Transportation & Logistics
Kakao Mobility, a Korean provider of online taxi-hailing and parking services, raised $200 million in growth equity from Carlyle Group. Kakao offers ride-sharing services as well as solutions for businesses. It also offers electric bike rentals, with multiple service and drop-off points. The investment values the company at above $3 billion.
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