North America

Brex rakes in $125 mln Series C

San Francisco-based Brex, a corporate card for startups, has raised $125 million in Series C funding. Greenoaks Capital and DST Global led the round.

Fusion Coolant Systems nabs $8 mln Series C

Canton, Michigan-based Fusion Coolant Systems, a provider of advanced coolant and lubrication systems, has raised $8 million in Series C financing. Material Impact and Michigan Capital Advisors led the round with participation from other investors that included MINTS- Michigan Investment in New Technology Startups, Amherst Fund and Invest Michigan.

Stay Alfred inks $47 mln Series B

Stay Alfred, a provider of alternative accommodations for travelers, has secured $47 million in Series B funding. Nine Four Ventures led the round.

Huel grabs $26 mln from Highland Europe

UK-based Huel, a nutritionally complete meal alternative, has secured $26 million in funding. The investor was Highland Europe.

CSA Medical snags $15 mln venture loan facility from Horizon

Horizon Technology Finance Corp has provided a $15 million venture loan facility to CSA Medical Inc. Based in Lexington, Massachusetts, CSA Medical is a producer of cryotherapy medical devices.

Rylo raises $20 mln from Icon, Accel, Sequoia

Rylo said it raised $20 million of Series B funding in a round led by Icon Ventures and joined by Accel Partners and Sequoia Capital. The funding brings capital raised to $35 million.

Social media analytics platform Hootsuite explores sale: Reuters

Hootsuite Inc, a Canadian company that describes itself as the world’s most widely used platform for managing social media, is exploring a sale that could value it at more than US$750 million ($968 million), sources told Reuters. A sale would allow Hootsuite’s venture capital backers to cash out at a time when cyber security and privacy concerns make social media analytics companies more popular with corporate clients. Hootsuite’s investors include Accel Partners, CIBC Innovation Banking, Insight Venture Partners and OMERS Ventures. Vancouver-based Hootsuite, founded in 2008 by CEO Ryan Holmes, is working with investment bank Goldman Sachs Group Inc on an auction process, the sources said.

SDTC invests $58.6 mln in 14 Canadian cleantech companies

Sustainable Development Technology Canada (SDTC) has provided $58.6 million in funding to 14 Canadian clean technology companies. The companies, many of them venture-backed, are based in British Columbia, Alberta, Ontario and Québec. The companies are: Clir Renewables, Consolidated Biofuels, Semios and Terramera (B.C.); Ambyint (Alberta); Giatec Scientific, Li-Cycle, Ranovus, VueReal and Yava Alumina (Ontario), and; Boréas Technologies, Carbicrete, Lithion Recycling and Sanexen Environmental Services (Québec).

East Valley Ventures' Jeff White tapped to head NBIF

New Brunswick Innovation Foundation (NBIF), a Fredericton-based venture capital firm, has appointed Jeff White as its new CEO. White joins NBIF from East Valley Ventures, a startup accelerator and early-stage investor he co-founded in 2011. He served there as COO. Before then, White had a long entrepreneurial career that included serving as CFO for New Brunswick venture-backed technology companies Radian6 and Q1 Labs. NBIF has invested more than $100 million in local startups and research projects and helped leverage $457 million from other sources.

Epiris wraps up new fund

UK-based private equity firm Epiris has closed its new fund at 821 million pounds. The fund's investors include public and private pension funds, endowments and foundations, asset managers and private investors. Campbell Lutyens was the financial adviser and placement agent.