North America

NovaQuest collects over $95 mln for fund

NovaQuest Capital Management has raised over $95 million for its debut private equity fund, according to an SEC filing. The target is $400 million. Based in Raleigh, North Carolina, NovaQuest invests in the life sciences and healthcare sector.

Guardhat procures $20 mln Series A

Detroit-based Guardhat, an internet of things industrial safety technology developer, has raised $20 million in Series A funding. RTP Ventures led the round with participation from 3M Ventures, Caterpillar Venture Capital, Revolution's Rise of the Rest Seed Fund, SVB and DVP.

VC-backed Sutro Biopharma debuts IPO

South San Francisco-based Sutro Biopharma Inc, a drug developer focused on creating protein therapeutics for cancer and autoimmune disorders, has raised about $85 million after pricing its over 5.6 million shares at $15 per share. The stock began trading September 27, 2018 on the NASDAQ under the ticker symbol "SRO." Cowen and Piper Jaffray are the lead underwriters. Also, Sutro has raised about $10 million in a private placement from Merck. Sutro's pre-IPO investors included Samsara BioCapital, Surveyor Capital, Alta Partners, Amgen Ventures, Celgene Corporation, Lilly Ventures, Skyline Ventures and SV Health Investors.

VC-backed Arvinas goes public

New Haven, Connecticut-based Arvinas Inc, a biopharmaceutical company focused on improving the lives of patients suffering from debilitating and life-threatening diseases, has raised about $120 million after pricing its IPO of 7.5 million shares at $16 per share. The stock began trading September 27, 2018 on the NASDAQ under the ticker symbol “ARVN." Goldman Sachs, Citigroup and Piper Jaffray & Co are the lead underwriters. Arvinas' pre-IPO backers included Nextech Invest, Deerfield Management, Hillhouse Capital, Sirona Capital, Canaan Partners, 5AM Ventures, RA Capital Management, OrbiMed and New Leaf Venture Partners.

Plant Prefab reels in $6.7 mln Series A

Rialto, California-based Plant Prefab, a home design and prefabrication company, has raised $6.7 million in Series A funding. The investors included Obvious Ventures and the Amazon Alexa Fund.

Source Defense nets $10 mln Series A

Israel and Stamford, Connecticut-based Source Defense, a provider of prevention solutions for website supply-chain attacks, has raised $10 million in Series A funding. The investors were AllegisCyber, Jerusalem Venture Partners, Global Brain and Connecticut Innovations.

Rally Rd snags $7 mln

Rally Rd, a tech platform that allows users to invest directly in rare alternative assets, has raised $7 million in funding. Upfront Ventures led the round with participation from other investors that included Anthemis Group and Social Leverage.

Cargo garners $22 mln Series A

Cargo, a provider of in-car commerce for the ride-share economy, has secured $22 million in Series A financing. Founders Fund led the round with participation from other investors that included Coatue Management, Aquiline Technology Growth, former NBA Commissioner David Stern and Maria Shriver, journalist and former First Lady of California.

Nozomi Networks locks in $30 mln Series C

San Francisco-based Nozomi Networks Inc, a provider of real-time cybersecurity and operational visibility for industrial control systems, has raised $30 million in Series C financing. The investors included Planven Investments SA, GGV Capital, Lux Capital, Energize Ventures and THI Investments.

Akrevia Therapeutics scores $30 mln Series A

Cambridge, Massachusetts-based Akrevia Therapeutics, a biopharmaceutical company focused on developing immuno-oncology therapeutics, has secured $30 million in Series A financing. F-Prime Capital Partners and Atlas Venture led the round.