What companies are finding funding or having a big exit? From startup investments to grants to acquisitions, Dallas Innovates tracks what’s happening in North Texas money every Thursday. Sign up for our e-newsletter to stay in the loop.
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InterGen Data Inc. raises $800K in seed funding round
InterGen Data Inc., a Plano-based AI-driven technology provider of proprietary AI software solutions and machine learning algorithms for banking, wealth management, insurance and fintech companies, has closed an $800,000 seed funding round.
The round was led by Levittown, New York angel investor Richard Ferrer, Crunchbase reported.
InterGen Data, which is led by founder and CEO Robert Kirk, said it will use the funding to expand the platform, accelerate the development of additional life events, and develop new integrations with several large custodial platforms and fintech companies focused on financial planning, risk management, and portfolio management and accounting systems, FinSMEs reported.
Actuate Therapeutics raises $21.7M in Series B funding
Fort Worth-based Actuate Therapeutics Inc. has raised $21.7 million in a Series B financing round and plans to use the money to expand its ongoing Phase 1/2 trial.
Actuate is a private biopharmaceutical company that focuses on developing compounds to be used in the treatment of cancer and inflammatory diseases leading to fibrosis and neurodegeneration. The round was led by Kairos Ventures. Other participants were DEFTA Partners, Tech Coast Angels, Fort Worth-based Bios Partners, and existing investors.
In September, Actuate reported that it had raised $4.025 million in a debt-only funding round. Founded in 2015, the company said its mission is to discover, develop, and commercialize new agents that target GSK-3β, an enzyme in humans that is encoded by the GSK3B gene.
Actuate said the funding also will help pay for development programs.
Naturally Slim gets investment from The Riverside Co.
Dallas-based Naturally Slim has received an investment from The Riverside Co., a global private equity firm.
Naturally Slim is a digital health platform that focuses on helping participants reduce Metabolic Syndrome, lose weight, and lead healthier lives.
The company mostly serves self-insured employers by helping them create healthier employee populations. Naturally Slim said its program has helped hundreds of employers and plan sponsors impact the lives of hundreds of thousands of employees and members nationwide.
The company said its scalable, self-paced digital program uses the latest behavioral health and teaching concepts to make weight loss achievable for all participants.
AmeriTex closes $25M in notes, plans expansion into Dallas
AmeriTex Holdings LLC has closed $25 million in subordinated notes with Prudential Capital Partners and a $105 million senior credit facility with MUFG Union Bank, US Bank, and Banc of California to refinance its $42 million from its existing lender and provide growth capital to enter the Dallas market.
AmeriTex is a supplier of reinforced concrete pipe and box culvert for storm drain installations by utility and highway contractors. It has state-of-the-art facilities in Seguin and Conroe, east of Dallas.
“Our contractor friends would sometimes request that we open a Dallas location, and others would ask we serve them better by offering adjacent products with one delivery,” Kevin Thompson, AmeriTex’s founder, chairman and CEO said in a statement. “In customer survey responses, it became clear the majority of our customers wanted AmeriTex to grow. The Dallas location will allow us to serve our customers throughout Texas while retaining the unique culture and customer relationships that we have built.”
MERGERS & ACQUISITIONS
Nuvei Corp. to buy British electronic payments firm for $889M
Plano-based Nuvei Corp. said Wednesday that it will buy SafeCharge International Group Ltd. in an all-cash deal valued at $889 million, a move that will allow Nuvei to expand in the growing electronics payment industry.
SafeCharge is based in Great Britain, and its shareholders will receive $5.55 in cash for each share they hold, Reuters reported.
Nuvel Corp. previously was called Pivotal Payments, but it renamed to Nuvei last year.
Merck acquires Dallas-based Peloton Therapeutics in $2.2B deal
Just weeks after Dallas-based Peloton Therapeutics filed for initial public offering, pharmaceutical giant Merck & Co. announced it is buying the biotech company in a deal valued as much as $2.2 billion. The deal should close in the third quarter.
Peloton is a clinical-stage oncology company that develops small molecule drugs to treat kidney cancer and other diseases. Its PT2977 drug is in a Phase II clinical trial. In April, Peloton announced it had filed for an initial public offering valued at $150 million.
Merck is buying all outstanding shares of Peloton for an upfront payment of $1.05 billion in cash. Peloton also will be eligible for another $1.15 billion based on various regulatory and sales milestones.
“Merck is recognized as a leader in cancer research and shares our commitment to accelerating the development of candidates targeting HIF-2α to help patients with advanced cancers and other diseases,”Peloton CEO John Josey said in a statement. “We are proud to have advanced PT2977 to this stage of development and believe that Merck is well suited to build upon the progress our company has made.”
NRG acquiring Dallas-based Stream Energy for $300M
Texas energy giant Houston-based NRG Energy Inc. is buying Addison-based Stream in an all-cash deal worth $300 million.
NRG is the state’s largest seller of electricity, and the deal will bring Stream’s 600,000 residential customers in nine states under its corporate umbrella. NRG said the acquisition will increase its market share in Texas, Pennsylvania, and several other eastern states.
The Dallas Morning News reported that the deal is the latest in a series of acquisitions consolidating Texas’ power market —with some people fearing the trend could lead to higher utility bills.
Crosby Group acquires Swedish provider of material handling products
The Crosby Group, the Arlington-based global provider of lifting, rigging, and material handling hardware, announced that it has acquired Gunnebo Industrier Holding AB from Segulah. The deal will broaden Crosby’s product offerings.
Gunnebo is headquartered in Gothenburg, Sweden, and is a global leader in innovating, developing, manufacturing, and selling products for material handling and other related applications.
Segulah is a Nordic private equity firm headquartered in Stockholm.
No financial terms of the deal were released.
“Given our shared commitment to safe rigging and lifting and our equally committed and talented teams, this acquisition is a natural fit,” Bob Davies, chief executive officer of Crosby, said in a statement. “Together we complement each other perfectly. Crosby and Gunnebo Industries will be able to deliver enhanced value for customers and channel partners by providing a broader product portfolio, enhanced support and training, expanded geographic presence and greater ability to offer innovative solutions.”
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R E A D N E X T
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Five local winners received up to $200,000 in funding to activate their solutions throughout North Texas.
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Two nonprofits will each receive $250,000 in grant funding. The Capital One grants are part of a $3.5 million commitment to 12 nonprofit organizations.
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To prevent suicides, hunger, and learning issues, Rhithm's emojified bio-social assessments app lets kids say how they feel.
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Women entrepreneurs in North Texas and across the U.S. have long faced challenges in finding funding for their businesses. Now Bank of America is stepping in to help "bridge the capital gap" with its new Access to Capital platform. The online resource educates women entrepreneurs on ways they can fund their businesses, and covers more than 350 sources of capital.
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Evolon Technology develops proprietary tech that turns surveillance video into real-time actionable information. CEO Kevin Stadler says market and tech trends are "creating a perfect storm" for the fast adoption of innovative security systems to protect an organization's critical assets and infrastructure.
