Funding Insights May 8-14
A roundup of the previous week’s large and small funding rounds from Owler.
💸 COMPANIES YOU SHOULD KNOW
+ Worldia Gets $27.3M of Funding in Series B Round
Worldia is a French-based Traveltech company that meets the needs of travelers by providing customized trip itineraries. Founded in 2012 by Gregoire Pasquet, David Parlange, and Erwan Corre, Worldia weathered one of the most devastating periods of time for the tourism industry as worldwide travel was impacted by the pandemic. Worldia’s product and the company’s resilience impressed investors like Credit Mutuel Innovation, who led the Series B funding round.
+ Modern Hydrogen Received a total of $32.8M in Funding
(Formerly) Modern Electron, Modern Hydrogen raised $32.8M in a Series B round and announced its name change to align with the brand’s new identity. The company plans to use the investment to increase the capacity of its hydrogen production units according to BusinessWire. CEO of the Washington-based company, Tony Shih Arng Pan described the function of his technology saying, “By stripping out the offending carbon atom from gas at the end of the pipe, before it has a chance to become CO2, Modern’s technology can deliver decarbonized gas - aka clean hydrogen - on location.
+ Ripplr Raised $40M in Series B Funding
Ripplr specializes in logistics solutions for retailers and brands. A mixture of existing and new investors decided to contribute to the funding round. Plans for the funds include fortifying Ripplr’s tech platform for team expansion and building a pan-India presence.
+ Series A Funding Round Results in $59M for Taichu Biotech
A China-based provider of drug development and evaluation services for the biopharmaceutical industry, Taichu Biotech raised $59M in funds. Investors include IDG Capital – a venture capital focused on Chinese businesses along with Juntong Capital, Boquan Capital, and Apricot Capital.
+ Everseen Raises $71.3M in Series A Funding
Everseen, a provider of AI-powered computer vision and hyper-automation solutions, raised $71.3M in Series A funding. Headquartered in Blackpool, County Cork, Alan O'Herlihy is the Founder & CEO. The company describes itself as serving the top 15 retailers to mitigate and reduce shrink, streamline operations, and help deliver a better customer experience.
💰BIG BACKINGS
🤝 CATCH UP ON THESE APRIL ACQUISITIONS
+ Hearst Acquires NBC Affiliate, WBBH Fort Myers-Naples, Florida
News and entertainment publisher, Hearst, has acquired NBC affiliate, WBBH Fort Myers-Naples, Florida, from Waterman Broadcasting. Hearst recently saw the departure of long-time publisher Carol Smith as the company undergoes reorganization.
+ Jazzi Acquired by Canadian-Based Caseware
Caseware is a Canada-based provider of cloud-enabled audit, financial reporting and data analytics solutions. The company acquired Jazzit, a developer of accounting templates that has served Caseware’s customers for over 20 years, for an undisclosed amount.
+ Cradlepoint Acquires Ericom
Telecommunications equipment company, Cradlepoint, acquired cloud security firm Ericom Software which has an annual revenue of $12M. With the addition of Ericom, Cradlepoint will build a 5G networking platform that features cloud security, zero trust, secure access service and more.
+ Brokerage Agency, Unilink, Purchased by Acrisure
Acrisure acquired Poland-based brokerage agency, Unilink. A leader in the fintech space, Acrisure offers services such as insurance, risk management, and employee benefits. Headquartered in Grand Rapids, Michigan, Acrisure has an annual revenue of $4B, and has 14,000 employees.
+ Parkway Products was Acquired By Clayens
Parkway Products offers services such as polymer and thermoset molding for sectors including healthcare and aerospace. The South Carolina-based firm was acquired by France-based contract manufacturing company, Clayens. Konstantin Ryzhkov, Managing Director, One Equity Partners calls the recent acquisition the result of strategic growth initiatives identified as part of their investment.
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