Recent Deals – 21 May 2024

High-precision flood-prediction software, vaccines that reduce livestock methane emissions, and end-to-end technology that recycles all components of lithium-ion batteries: Recent Deals worth looking at 


Agriculture & Food 

ArkeaBio (2022) is a developer of a vaccine to reduce ruminant livestock methane emissions. Their anti-methagen vaccine uses microbiological and bioinformatic analysis to target methane producing organisms using neutralizing antibodies. 

ArkeaBio raised $26.5M in Series A funding on May 9th from Breakthrough Energy Ventures, Grantham Foundation, AgriZeroNZ , Rabo Ventures, Overview and The51 Food & AgTech Fund.  This is Breakthrough Energy Ventures’ second time funding ArkeaBio, having backed the company previously in 2022. 

Through this capital, ArkeaBio intends to advance research, development, and deployment of its vaccine through facilitating large-scale field trials and to accelerate commercialization through increased engagement along the supply chain. Their vaccine incorporates with existing agribusiness practices and systems.  


Energy & Power  

Hysata (2021) is a developer of capillary-fed hydrogen electrolysers, producing green hydrogen for steel, transport and chemical sectors. Their technology uses a capillary-fed alkaline electrolyser that uses less energy to convert water to hydrogen. 

On May 8th, Hysata raised $111M in Series B funding from BP Ventures, Templewater, IP Group Australia, Kiko Ventures, Virescent Ventures, Hostplus, Vestas Ventures, BlueScope, POSCO, IMM Investment Co, Shinhan Capital, Twin Towers Ventures (TTV), Oman Investment Authority, and TelstraSuper. The round is the largest recorded Series B to date in Australia.  

The funding will be used to expand production capacity at their manufacturing facility in Wollongong, New South Wales. Hysata aims to further develop its technology as they focus on reaching gigawatt scale manufacturing. 


Materials & Chemicals 

DEEPX (2018) develops on-device AI semiconductor and computing solutions for security, robotics, mobility, and more IoT devices. They provide an ‘All-in-4 AI solution’ that is designed for AI computing boxes and AI servers. 

DEEPX’s May 9th Growth Equity round raised $80.5M from SkyLake Equity Partners, BNW Investments, AJU IB Investment, and Timefolio Asset Management. SkyLake Equity Partners is DEEPX’s second largest shareholder.  

The capital will allow DEEPX to mass produce its four existing AI chips for global distribution and accelerate progress towards the launch of its new LLM on-device solutions. While DEEPX does not currently have any customers, they are working with over 100 potential clients and strategic partners.  


Resources & Environmental Management 

7analytics (2020) develops high precision terrain processing models using machine learning and AI to predict flood behavior.  Their platform predicts water levels at specific sites through leveraging open-source data.  

7analytic’s Series A round raised $4.35M on May 15th from Scale Capital. Previously, 7analytics raised $2.5M in 2022 from Momentum Partners, Construct Venture, Link Capital, and Obos VC.  

With this funding, 7Analytics plans to expand operations and enter the U.S. market later this year.  They plan to offer its flood risk solution to insurance companies and asset owners to provide accurate property risk assessments.  


Transportation & Logistics 

ULEMCo (2014) develops a hydrogen diesel combustion technology used in commercial vehicles. Their fuel solution enables heavy duty vehicles to operate on cleaner fuel without having to replace existing fleets, as the technology allows vehicles to operate on hydrogen fuel or diesel when necessary.  

On May 15th, ULEMCO raised $5.44M in Seed funding from Mercia Ventures through its own funds and the first Northern Powerhouse Investment Fund, as well as existing investors Equity Gap, North West Fund, and Scottish Enterprise.  

The new capital will be used to further expand their team and will allow them to further develop new hydrogen dual fuel, fuel cell, and zero-carbon emission combustion products.  


Waste & Recycling  

Cylib (2022) is a developer of end-to-end technology for lithium battery recycling. All components of lithium-ion batteries are recycled through their technologies, recovering elements from EV batteries, micro mobility batteries, and production scraps.  

Cylib raised $59.8M in Series A funding from World Fund, Porsche Ventures, Bosch Ventures, Deeptech and Climate Funds, NRW.BANK, Vsquared Ventures, Speedinvest, and 10x Founders. The funding round was completed less than two years after the company started operations and is the largest round raised by a European recycling company.  

The capital will be used to power the industrialization of its proprietary technology, which is already used by leading OEMs and battery manufacturers, by scaling up its operations at an already-secured brownfield industrial facility in Germany. The funds will also be used to expand its team with key expert hires. 


Enabling Technologies

Xona Space Systems (2018) develops Position, Navigation and Timing (PNT) systems for autonomous solutions. Their satellites orbit 20x closer to Earth to provide stronger signals that bypass interferences and obstructions. 

Xona Space Systems raised $19M in a Series A investment from Future Venture Capital, Seraphim Space Investment Trust, NGP Capital, Industrious Ventures, Murata Manufacturing Co, Space Capital and Aloniq.  

The investment will be put towards deploying its satellite network to accelerate commercialization. The company also intends to begin beta testing Pulsar, a satellite service designed to provide precision navigation for autonomous technologies.