Recent Deals – 6 September 2019
Agriculture & Food: |
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FreshtoHome, a developer of a fresh meat and fish home delivery service, raised $20 million in a Series B round from Iron Pillar and Joe Hirao, the founder of Japan’s ZIGExn. The India-based start-up was founded in 2015 and has built its own supply chain network, giving it control over quality and delivery of the food items. It uses trains and planes to move inventory and has become one of the biggest clients of several local airlines. The company will use the funds to expand its footprint in India. | |
Energy & Power: |
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BBOXX, a developer of technology platform to solve energy access needs for households with no access or unreliable access, raised $50 million in a Series D round led by Mitsubishi. Other investors included ENGIE Rassembleurs d’Energies, Bamboo Capital Partners, DOEN Participaties BV and MacKinnon, Bennett & Co. BBOXX has impacted nearly one million people to date through access to pay-as-you-go solar energy using mobile money, and has also installed 200,000 solar home systems. Funding will help drive BBOXX’s growth across Africa, where it currently operates in 12 countries, as well as in Asia. | |
Resources & Environment: |
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RagnaRock Geo, a developer of software to automatically interpret seismic data, is part of the Techstars Energy Accelerator 2019 cohort. Based in Norway, the start-up enables understanding of the subsurface with greater workflow and efficiency through their machine learning exploration software. | |
Materials & Chemicals: |
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Solidia Technologies, a manufacturer of sustainable building materials from waste CO2, raised $20 million in a growth equity round from BP Ventures. The materials company is developing solutions for the building and construction materials industries. Its products are made by low energy processes that utilize waste materials and consume CO2. Currently, the company competes in the global cement and concrete market with a combined market value of $1.3 trillion. Their new funding will be used to continue growth. | |
Transportation & Logistics: |
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Cruise Automation, a General Motors subsidiary and developer of sensors and scanners to enable assisted driving, raised $670 million in a growth equity round, which was disclosed via regulatory filing. Cruise has built a highway autopilot system that installs onto an existing vehicle. It uses sensors and advanced machine vision technology to keep a car in its lane and at a safe distance from the car ahead of it. | |
