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SoFi to take Technisys in $1.1bn deal

Online personal finance provider SoFi agreed to acquire US-based digital banking technology provider Technisys in a $1.1bn all-stock transaction.

ElasticRun procures $330m

Internet and telecommunications group SoftBank’s Vision Fund 2 co-led a $330m funding round for ElasticRun, the India-based operator of a business-to-business (B2B) e-commerce platform.

Scipher Medicine unlocks $110m

US-based precision immunology therapy developer Scipher Medicine closed a $110m funding round featuring electronics conglomerate Hitachi and healthcare services provider Optum.

Volta Trucks zaps in $260m

Volta Trucks, developer of commercial electric vehicles, secured $260m in series C funding from investors including logistics services provider Agility.

PrimaryBid stocks up with $190m

Internet and telecommunications group SoftBank’s Vision Fund 2 led a $190m series C round for UK-based online investment platform PrimaryBid.

Cheq, the Israel-based developer of a cybersecurity software offering for marketing operations, secured $150m in series C funding from investors including insurance provider Phoenix Insurance Company.

Cargill helps Wildtype net $100m

US-headquartered cultivated salmon producer Wildtype closed a $100m series B round that included agribusiness Cargill.

Arcion rebrands with $13m series A

US-based data mobility software developer Blitzz has rebranded to Arcion as it raised $13m in a series A round featuring data analytics software provider Databricks.

Fifth Wall finds corporates for $159m European fund

US-headquartered, real estate-focused venture capital firm Fifth Wall has closed a $159m European fund with backing from several corporate limited partners.

Arkray arcs to Singaporean investment arm

Japan-headquartered healthcare device producer Arkray has announced an $86.8m corporate venture capital initiative in Singapore to invest in early-stage medical technology developers.

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The Big 3

Uber has set terms for an IPO that will raise $9bn if it floats at the top of its range. SoftBank is among the selling shareholders, though it will remain the largest shareholder in the on-demand ride provider.

Uber has also confirmed its autonomous driving division, otherwise known as Uber Advanced Technologies Group, has raised $1bn from external investors. Toyota said its share consisted of the $500m it provided for strategic partner Uber last August, while SoftBank Vision Fund invested $333m with the rest provided by Denso.

Hitachi has not been too active in the corporate venturing space, but that looks likely to change with the institution of a $150m fund called Hitachi Ventures that is set to formally begin operations in June.

And in a nice university-corporate VC crossover, US-based online education platform Coursera secured $103m in a series E round led by online education and recruitment firm Seek Group.Future Fund, Australia’s sovereign wealth fund, also took part in the round, as did venture capital firm New Enterprise Associates (NEA).

Deals

Ford has agreed to invest $500m in electric SUV and truck developer Rivian, just two months after the latter pulled in $700m in an Amazon-led funding round.

3D printing hasn’t yet become the goldmine some were predicting, but the market leaders are still raising funds quite easily. Carbon is seeking $300m in its forthcoming series E round according to a regulatory filing, at a valuation expected to be around the $2.5bn mark.

KeepTruckin has raised $149m at a $1.25bn valuation, from investors including Alphabet subsidiary GV. GV has been an investor in KeepTruckin since its seed round, back when the unit was still known as Google Ventures, and the series D round took the fleet management technology producer’s total funding to $228m. Greenoaks Capital led the round, which included IVP, Index Ventures and Scale Venture Partners.

Two affiliates of state-owned aerospace manufacturer Aviation Industry Corporation of China have provided $149m of funding for airline services provider Global Wings.

Loon, the orbital internet connectivity system developer formed by Alphabet, has received $125m from HapsMobile, a joint venture between SoftBank and Aerovironment that is developing high-altitude digital infrastructure.

Funds

Allianz has become the latest company to fund an independent venture firm alongside its existing corporate venturing activities.

University of Chicago at Illinois (UIC) partnered investment firm Deerfield Management yesterday to launch translational research funding and commercialisation vehicle West Loop Innovations. Deerfield will provide up to $65m in capital to West Loop Innovations, which will help advance promising discoveries at the university. In particular, the fund is expected to solidify UIC’s strengths in drug discovery.

Exits

Douyu, the game streaming platform that’s been called China’s Twitch, has filed for a $500m initial public offering on the New York Stock Exchange.

Content management software provider Fastly has become the latest corporate-backed tech company to file for an IPO, and is officially targeting $100m.

Peer-to-peer car rental marketplace Getaround has paid $300m to acquire peer Drivy in order to create a car sharing service with 5 million users across the US and Europe.

On GUV, Bellwether Bio, a US-based oncological diagnostics spinout of University of Washington, has been acquired by early cancer detection test company Guardant Health for an undisclosed sum.