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• The plans have not yet been finalized and are subject to market conditions. They were conceptualized after talks to merge with Indonesia’s GoJek were broken off.
• Grab recently raised $200M, putting its total raised at around $10.1B. The company is reportedly worth around $16B.
• Related: Grab is reportedly raising $300M for its financial services arm, valuing the three-year-old division at $3B. 

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• CNBC reported that the firms participating in the secondary sale included Alta Park, HMI Capital, OMERS Growth Equity, TCV and Verition
• The new valuation is a substantial step up from the $2.75B it was appraised at during a $268M series E funding round just 18 months ago.
• While it was unable to hold itself to its planned IPO date in November 2020, the company is still considering a debut in the near future.
• The company has raised a total of $434M to date.

Best of Last Week

M&A

• Roku has acquired the content of now-defunct short-form video streaming platform Quibi for an undisclosed price.
• Visa has abandoned its plans to acquire fintech provider Plaid for $5.3B. The company cited an ongoing DoJ antitrust lawsuit against the deal.
• Cloud-based software company Citrix is in advanced talks to buy workflow management company Wrike in a $2B deal.
• Qualcomm announced the acquisition of chip startup Nuvia for $1.4B.
• Byju’s acquired Indian edtech platform Aakash Educational Services for an estimated $1B.
• mass production and additive manufacturing solutions provider Desktop Metal announced its acquisition of EnvisionTEC, volume production photopolymer 3D printing solutions provider: $300M.
• Home services platform Porch closed four acquisitions totaling $122M just weeks after going public via a SPAC.
• Medium acquired French startup providing digital book services Glose for undisclosed sources.
• Accenture will purchase Argentinean cloud-native and agile development company Wolox, terms undisclosed.

IPO/SPAC

• Online second-hand fashion platform Poshmark’s shares closed up 141% after opening at over double its initial price of $42. The initial pricing valued the company at $3.5B on a fully diluted basis and raised nearly $280M.
• Online payments company Affirm closed up nearly 100% during its Nasdaq debut. The stock began trading at $90.90 after the company priced above-range at $49 and closed at $97.24.
• U.K.-based digital greeting cards company Moonpig is planning a $1.37B (£1B) London IPO.
• Nasdaq-listed Chinese video platform Bilibili filed for a secondary listing in Hong Kong to raise over $2B. 
• German online car trading platform Auto1 will list on the Frankfurt Stock Exchange in Q1’21. The SoftBank-backed company hopes to raise about $1.2B ($1B).
• Dating app Bumble filed for its IPO on Friday. The company reported that it had 42 million monthly active users as of Q3 2020 and generated a $377M revenue at a loss of $84M for the nine months ended Sept. 2020.
• Israeli mobile gaming company Playtika raised $1.9B from its IPO, and the company will list in NASDAQ.
• Zoom is looking to raise an additional $1.5B in its largest stock offering since its IPO in 2019. It will also grant its underwriter a 30-day option to buy up to an additional $225M of Class A shares at the IPO price.
• Talkspace, an online therapy app, will go public via a merger with Hudson Executive Investment Corp., SPAC. 
• Chinese facial recognition startup Megvii is prepping for an IPO in Shanghai.

New Funds

• Silver Lake raises $20B for its sixth tech fund.
• Tiger Global is raising a new $3.75B fund called Tiger Private Investment Partners XIV. The fund is the firm’s thirteenth and is on par with its twelfth, which was closed just over a year ago.
• Audax Private Equity closes Continuation Fund: $1.7B.
• Venture growth firm March Capital closed its third fund at $450M. Previous investments include CrowdStrike, VeloCloud, ASAPP, and others. 
• Heritage Group closed Fund III, healthcare PE: $300M.
• Define Ventures closed Fund II, digital health: $200M.
• Future Ventures has closed its Fund II at $200M, on par with its debut fund which closed two years ago. The new fund will have a 15-year horizon and will focus on longer-term investments.

Today's Funding 💰

Adtech/Martech

• Humanz (Tel Aviv, Israel), micro-influencer campaign platform: $3M Seed led by NGN Partners, Buffett Group.

Biotech/Health

• Everywell (Austin, Texas), at-home health testing kit startup: $75M from HealthQuest Capital.

Cleantech

• Lohum (New Delhi, India), lithium battery recycling platform: $7M led by Baring Private Equity Partners.

Consumer

• Deliveroo (U.K.), food delivery service: $180M from Amazon, et al. The company was valued at $7B.
• Bloom & Wild (London, U.K.), wild flower delivery service: $102M from undisclosed sources.
• Picky (Palo Alto, Calif.), mobile-first content platform for the global beauty market: $1.3M Seed led by NLVC, participation from Wishcompany, Klim Ventures.

Enterprise

• Darwinbox (India), cloud-based human resource management platform: $15M C led by Salesforce Ventures, participation from Lightspeed India, Sequoia Capital India.
• proSapient (London, U.K.), SaaS platform for managing expert networks: $10M A led by Smedvig Capital, participation from Guy Hands, et al.
• Solstice (Cambridge, Mass.), software and customer management platform: $3.1M led by Total Carbon Neutrality Ventures, participation from American Family Insurance Institute for Corporate and Social Impact, Massachusetts Clean Energy Center, Schneider Electric Ventures, Next Wave Impact, Active Impact Investments, Powerhouse Ventures, Gratitude Railroad, H/L Ventures, SustainVC, Halcyon Angels, et al.
• Zluri (San Francisco, Calif.), SaaS applications stack management for U.S. mid-sized enterprise: $2M from Endiya Partners, Kalaari Capital.

Fintech

• Moss (Germany), enterprise credit card platform: $25.5M (€21) led by Valar Ventures, participation from Cherry Ventures, Global Founders Capital.
• Perennna (U.K.), mortgage platform: $10M from Kevin Flaherty, et al.
• Volopay (Singapore), financial control center for enterprise: $2.1M Seed led by Justin Mateen, participation from Soma Capital, CP Ventures, Y Combinator, VentureSouq, et al.

Foodtech

• CleanCo (London, U.K.), premium low-alcohol spirits: $9.5M from Ursula Burns, Stonebridge PLC.

Gaming

• Royale Finance (Belize City, Belize), iGaming startups funding provider: $1.45M from Alphabit Fund, AU21 Capital, Fomocraft Ventures, Kyros Ventures, Vendetta Capital.

Industrial

• Oqton (Ghent, Belgium), AI-based manufacturing industry solutions: $40M A led by Fortino Capital, PMV, Sandvik, participation from Samir Hanna, Ben Schrauwen, et al.
• Cumulus Digital Systems (Boston, Mass.), Internet of Tools platform for industrial workforces: $8M led by GEC, participation from Brick & Mortar Ventures, Shell Ventures.
• Sustainment (Austin, Texas), collaboration tools for localized manufacturing: $2.1M led by Blackhorn Ventures, participation from Congress Avenue Ventures, et al.

Insurtech

• Digit (India), insurance policies with smartphone-enabled self-inspection and audio claims: $18.5M led by Insurance Regulatory and Development Authority, participation from A91 Partners, Faering Capital, TVS Capital. The company was valued at over $1B.
• LeoCare (France), insurance products with adjustable contracts: $18.1M (€15M) from Felix Capital, Ventech, Daphni.

Spacetech

• OneWeb (London, U.K.), broadband satellite operator: $400M from SoftBank, Hughes Network Systems. The company recently had to be bailed out by the U.K. government and Bharti.

Traveltech

• Kambr (Utrecht, The Netherlands), supplementary tech stack for airlines: $3M Seed led by Jim Collis, Bill Luby, Michael Scheeringa, participation from Founder Collective, Global Founders Capital, Studio VC, Silicon Badia, C2 Ventures Capital Partners, TXV Partners.

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• Avoid angry customer tweetstorms about submitting more data just to get theirs back, by asking these five questions about your data privacy solutions.*
• Sequoia and Lone Pine will reportedly each buy $60.6M (€50M) in shares from existing investors in German car trading platform Auto1’s IPO. The investment firms will put an equivalent amount directly into the IPO itself.
• Optical components maker Lumentum Holdings will reportedly acquire laser maker Coherent in a cash-and-stock deal. The terms were not disclosed, though the companies are valued at $8B and $3.7B respectively.
• Startups are finding it increasingly difficult to be creative during the pandemic due to the inability to gather teams in one room. A survey found that 28% of employees who work from home found it impossible to pursue creative work.
• Indian WhatsApp-equivalent Hike Messenger has shuttered its flagship messaging platform, StickerChat. The company was previously valued at $1.4B and had backing from Tencent, Tiger Global, and SoftBank.
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