Energy Giant Saudi Aramco Is Expected To Be Valued At $1.7 Trillion

VC Deals 

Proteus Motion, formerly known as Boston Biomotion, a NYC-based sports and healthtech company, raised $3.8m in funding. The company intends to use the funds to continue to develop and manufacture its software products, conduct research and development for Version 2 of the Proteus system, and add users for its software subscription product, which allows trainees to access training content, track trends and personalized insights, leveraging 50 million data points captured to date. More 

Accel Robotics, a San Diego-based startup focused on AI and computer vision for checkout-free stores, raised $30m in Series A funding. The company intends to use the funds to accelerate its expansion worldwide by growing operations, increasing manufacturing capacity, and streamlining its expanding deployment pipeline. More 

Singapore-headquartered FinAccel has secured $90 million in one of the largest funding rounds for a fintech startup in Southeast Asia as it looks to further grow its credit lending app Kredivo and build more financial services. The financing round, dubbed Series C, for the three-and-a-half-year-old startup was jointly led by Asia Growth Fund — a joint venture between Mirae Asset and Naver — and Square Peg. More 

Three months after Goldman Sachs lent $100 million to Mexican fintech Konfio, SoftBank has invested another $100 million into the financial services company. The investment confirms Reuters’ August report that SoftBank was in advanced talks with the startup — now one of the most heavily funded fintechs in Mexico. More 

KOHO, a FinTech startup that is changing the way Canadians bank, has raised $25 million led by U.S.-based venture capital firm Drive Capital, whose portfolio boasts Duolingo, Udacity, and Root Insurance. National Bank of Canada, through its venture capital arm NAventures, also participated in the round. More 

Uncapped, a London-headquartered and Warsaw-based startup that wants to provide “revenue-based” finance to growing European businesses, is officially launching today and disclosing that it has raised £10 million in funding. More

IPOs 

The energy giant Saudi Aramco is expected to be valued at $1.7 trillion in its public offering, The Wall Street Journal reported on Thursday, citing people familiar with the matter. The state-owned oil company is expected to raise $25.6 billion from the IPO, The Journal reported. At that valuation, the IPO would be the world's largest, beating out Alibaba Group, which raised $25 billion in 2014. More 

New Funds 

 Revelstoke Capital Partners, a Denver, CO-based private equity firm focused on investing in healthcare services companies, completed fundraising for Revelstoke Capital Partners Fund II, L.P. and Revelstoke Single Asset Fund I, L.P., totalling $1.4 billion. More 

MiddleGame Ventures, a 1.5-year-old, Luxembourg-based fintech-focused investment firm, has held a first close on a fund that's targeting €150m altogether and aim to fund post-seed, Series A, and Series B stage investments in Europe and North America. The outfit's limited partners include the Luxembourg Future Fund and the European Investment Fund. More 

Exits

Enterprise AI company Dataiku has announced some changes in its capitalization table. CapitalG (formerly Google Capital), Alphabet’s growth equity investment fund, is investing in the startup by buying out some of Serena Capital’s shares. More 

Carousell, a seven-year-old, Singapore-based online classifieds business, has agreed to merge with a subsidiary of the Norwegian telecoms firm Telenor Group, in a deal that values the combined company at more than $850 million. Carousell will merge with Telenor’s 701Search, which owns online marketplaces Mudah in Malaysia, Cho Tot in Vietnam, and OneKyat in Myanmar, as part of the equity and cash agreement, it said in a statement last year. Telenor will become the single-largest minority shareholder in Carousell with a 32 percent stake in the combined company. More

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