Week Ending 04.28.19
ENLITIC HOLDS RESIDUAL FUNDING TALKS
VERBLIO ACQUIRES AUTOMAGICAL
SLACK FILES DIRECT LISTING WHILE UBER ROADSHOWS USD 9BN IPO
HARNESS RAISES USD 60M IN SERIES B
NEXOPTIC PRESIDENT RETURNS TO CEO ROLE
AND MORE ↓
EYE ON A.I. GETS READERS UP TO DATE ON THE LATEST FUNDING NEWS AND RELATED ISSUES. SUBSCRIBE FOR THE WEEKLY NEWSLETTER.
THE LATEST FROM EYE ON A.I.
Enlitic, the San Francisco, California-based medical diagnostics company using AI, continues to hold residual funding discussions with potential investors after announcing the close of a USD 15m Series B earlier this month, CEO Kevin Lyman said.
“We’re heavily considering taking some additional capital,” Lyman said. “We’re evaluating our needs.” Read more
MERGERS AND ACQUISITIONS
Verblio, the Boulder, Colorado-based marketing firm, said it acquired Automagical, the video production site using AI.
Sonasoft, the San Jose, California-based AI company, said it completed the acquisition of Hotify, which makes AI software.
mPhase Technologies, the New York City-based battery maker, said it acquired Indian AI company AIRobotica Services. mPhase acquired AI travel technology firm Buddhi last month.
Other deals include CareDX
Slack, the San Francisco, California-based workplace communications service, filed for a direct listing on the NYSE. The company itself will raise no new funds but current shareholders, which include CEO Stewart Butterfield and Japan’s SoftBank, have the option to sell shares they own.
The company said in the filing it plans to continue investing in AI. Slack paid USD 43.3m in cash for AI communication company Astro Technology in September last year.
Uber Technologies, the San Francisco, California-based ride sharing company using AI, said it and shareholders, including founder and former CEO Travis Kalanick, are raising up to USD 9bn in an initial public offering of 180m shares at USD 44 to USD 50 each on the NYSE. Electronic payments firm PayPal is investing USD 500m in the company at the final IPO price in a concurrent private placement.
Headhunter, the Nicosia, Cyprus-based recruitment website using AI, said shareholders, including Highworld Investments, are raising USD 220m from the sale of 16.3m American depositary shares at USD 11 to USD 13.50 each. The company’s main area of business is in Russia.
Yunji, the Hangzhou, China-based ecommerce company using machine language and AI, said it is raising a less than planned USD 175.5m from an initial public offering of 13.5m American depositary shares on the Nasdaq at USD 11 to USD 13 each. The company originally filed a USD 200m placeholder in March.
So-Young International, the Beijing, China-based plastic surgery services company using AI, said it is raising a more than planned USD 179.4m from an initial public offering of 13m American depositary shares at USD 11.80 to USD 13.80 on the Nasdaq.
Xiaotai International Investment, the Hangzhou, China-based lending platform using AI, said it refiled for a USD 20m initial public offering on the NYSE American, a small business exchange. The company originally filed in Nvember.
Gritstone Oncology, the Emeryville, California-based company developing AI technology to fight cancer, said it raised USD 74.75m from the sale of 6.5m shares at USD 11.50 each, a 6.5% discount.
In October, the company raised USD 91.5m in an initial public offering on the Nasdaq from the sale of 6.1m shares at USD 15 each, the highest end of the marketed range.
Harness, the San Francisco, California-based business services firm using AI, said it raised USD 60m in a Series B led by IVP, GV, and ServiceNow Ventures.
BostonGene, the Boston, Massachusetts-based medical analytics company using AI, said it raised USD 50m in a Series A from Japan’s NEC.
Sight Machine, the San Francisco, California-based manufacturing services company using AI, said it raised USD 29m in a Series C led by South Korea’s LS Group.
Eightfold.ai, the Mountain View, California-based human resources company using AI, said it raised USD 28m in a Series C.
RWDC Industries, the Singapore-based biotechnology firm using AI, said it raised USD 22m in a Series A3 led by Vickers Venture Partners and the retirement fund of Eversource Energy.
Astound, the Menlo Park, California-based enterprise software company using AI, said it raised USD 15.5m in a Series B led by March Capital Partners.
Ruum, the Berlin, Germany-based business services firm using AI, raised USD 10m from SAP.
Zippia, the San Mateo, California-based employment website using machine learning, said it raised USD 8.5m in a Series A led by E.ventures.
QTC Care, the Beijing, China-based health care company using AI, said it raised USD 7m in a Series A led by Tencent.
Novo Labs, the Dallas, Texas-based company using AI for restaurant services, said it raised USD 2m in a seed funding led by Silverton Partners.
NAVAN, the San Francisco, California-based biotechnology company using AI, said it closed a seed investment round of unspecified size led by Amgen Ventures, High-Tech Gründerfonds and Hemi Ventures.
LEGAL & REGULATORY
The US Federal Bureau of Investigation raided the San Francisco offices of AI-backed biotech uBiome as part of a probe of the company’s billing practices, according to a Gizmodo report.
NexOptic Technology, the Vancouver, Canada-based binocular and imaging company using AI, said director and former Nokia and IBM executive Rich Geruson has been named chairman, and NexOptic co-founder and President Paul McKenzie is returning to the position of CEO.
Geruson and McKenzie replace Darcy and John Daugela, also NexOptic co-founders, who held the chairman and CEO roles. Darcy Daugela will becomes vice president of technology development and John Daugela will take up the role of vice president of business development. Both have stepped down from the board of directors.
VIQ Solutions, the Phoenix, Arizona-based business services firm using AI, said it is hiring Alexie Edwards to replace current CFO George Kempff, who is retiring.
Caris Life Sciences, the Irving, Texas-based healthcare company developing cancer treatments using AI, said it hired former CVS executive Joseph J. Frendo as chief operations officer.
ePlane, the Tel Aviv, Israel-based aerospace ecommerce website using AI, said it hired Gideon Shmuel as CEO. Former CEO and co-founder Avi Gelman will stay on the board of directors.
OmniSci, the San Francisco, California-based data analytics company using AI, said it hired Laura Craig as vice president of sales, Americas.
Attivio, the Newton, Massachusetts-based business services firm using machine learning, said it promoted Dorit Zilbershot to chief product officer. Zilbershot was vice president of product management and engineering.
Clarify Health, the San Francisco, California-based healthcare company using AI, said it hired former McKinsey executive Manisha Shetty Gulati as chief customer officer.
In October, the company hired Kara Dennis as senior vice president and general manager of life sciences. Dennis was managing director of mobile health at Medidata Solutions, a healthcare software as services firm. Clarify raised USD 57m in a Series B led by private equity firm KKR in September.
LeddarTech, the Quebec City, Canada-based autonomous driving technology maker, said it hired Richard LaRue as chief legal officer.
OspreyData, the Houston, Texas-based oil and gas services firm using AI, said it hired energy industry veteran Kenneth Collins as vice president of product optimization and services.
Nuance Communication, the Burlington, Massachusetts company developing AI language technology, said it hired former NCR executive Tracy Krumme as senior vice president of investor relations.
Earlier this month the company said it hired Robert Dahdah as chief revenue officer. Dahdah joins from Benefitfocus, a software as services company, where he was executive vice president of global sales
In November Nuance said it planned to spinoff its automotive software business as a publicly traded company. The company hired Mark Sherwood as chief information officer in July from Semantec. Nuance hired a new CEO in April last year and reshuffled its board in June.