Follow the Money: Exxon Leads $13.7M Yoshi Raise, Agrinos Nets $14.7M Equity Investment

From agricultural biotech to medical innovation and software makers, here are some of the latest capital raises and acquisitions with North Texas ties.

funding

EXXON, GM VENTURES LEAD $13.7M SERIES A ROUND FOR YOSHI

Irving-based Exxon Mobil Corp. and General Motors Ventures were the lead investors in a $13.7 million early stage Series A round by Yoshi, which delivers gasoline, oil changes, car washes, and other things to cars that are parked.

Yoshi is based in San Francisco, and offers its services through an app that is available for download via the Apple App Store and Google Play. Yoshi’s services are available in Atlanta, Nashville, Austin, Los Angeles, and the San Francisco Bay area, and the company said it has aggressive expansion plans this year.

AGRINOS SECURES $14.7M INVESTMENT FROM LONG-TERM BACKERS

Agrinos Inc., an Irving biotechnology company, has completed a $14.7 million equity investment with support from long-term investors Manor Investment SA, Havfonn AS, and EuroChem Group AG.

The investments will help Agrinos accelerate execution of its business plan this year and beyond, including sales growth in core geographic areas, as well as research and development for an enhanced pipeline of products, the company said in a release.

“Agrinos is committed to being a leader in the agriculture bio-innovation sector. We have a strong track record of product performance in a wide range of crops around the globe and this will drive continued sales growth for the company,” Agrinos CEO Kevin Helash said in the release. “Our shareholders’ renewed financial commitment underscores their belief in the future of Agrinos and our mission to help customers improve crop yields in an environmentally sustainable manner.”

DALLAS FIRM INVESTS IN HOUSTON MEDTECH COMPANY

Dallas-based boutique investment firm Scientific Health Development Partners is one of three investors who participated in a $16 million Series C raise by Houston-based Procyrion, a medical technology solutions company.

To date, Procyrion said it has raised more than $29 million in funding. The company was founded in 2005.

Procyrion said it plans to use the funding for clinical development of its Aortix heart pump, the first catheter-deployed, intra-aortic pump designed for ambulatory use.

PLANO SNACKS MAKER GETS $1.25M EQUITY INVESTMENT

Plano-based protein snacks startup Stryve Foods LLC has received $1.25 million in funding from a new equity investment rounds, according to a filing with the Securities and Exchange Commission.

The total offering in the round is $8 million, leaving $6.875 million still to be sold, Stryve said in the filing.

In January, Stryve announced it had acquired the assets of Biltong USA, one of the nation’s first makers of biltong, a lean, dried beef that is cut in strips.

CYPRESS GROWTH CAPITAL INVESTS IN FINTECH STARTUP

Dallas-based Cypress Growth Capital was the sole investor in a $2.5 million Series A raise by Kingsmen Software, a Charlotte, North Carolina financial services company.

Kingsmen said it delivers capital markets software, DevOps, and Agile advisory services that share sophisticated development processes with clients.

JF2 PARTNERS PARTICIPATES IN $3.2M ADIENT RAISE

Dallas-based JF2 Capital Partners has invested in a $3.2 million venture funding round by Pearland, Texas-based Adient Medical.

Founded in 2012, Adient is a provider of absorbable medical devices. It is leading the development of a totally absorbable vascular filter for the prevention of pulmonary embolism, which it said is the nation’s third largest cause of death.

FEDEROS COMPLETES SERIES B FUNDING ROUND

Federos, a Frisco-based developer of IT service management tools and services, has raised an undisclosed amount in Series B funding.

The funding included un-named family offices from the U.S., Germany, and Austria, Texas TechPulse reported.

Started in 2005 as Monolith Software Inc., Federos provides unified monitoring and service assurance solutions to drive IT and OSS transformation to service-oriented businesses. The company rebranded as Federos in November. 

MERGERS AND ACQUISITIONS

MAVENIR ACQUIRES ARGYLE DATA TO BOLSTER MACHINE LEARNING SUITE

Mavenir, the Richardson software-based telecommunications networking provider, has bought San Mateo, California-based Argyle Data, a developer of a big data and machine learning security platform.

No financial details of the deal were released.

Mavenir said it would use the acquisition to bolster its machine learning suite. Argyle Data’s platform uses machine learning to recognize abnormalities in network traffic.

COMPASS DATACENTERS BUYS 2 EDGE COMPUTING STARTUPS

Dallas-based Compass Datacenters has bought two edge computing startups, EdgePoint Systems and BitBox USA.

No financial details were released.

The deal comes a year after Compass landed a large infusion of cash from The Ontario Teachers’ Pension Fund in Canada and from RedBird Capital Partners, the Dallas Business Journal reported.

Compass Datacenter CEO Chris Crosby said in a release that the acquisitions shows how the data center industry is changing. 

“It wasn’t that long ago that the only model for a corporate data center was a monolithic, end-user-built structure that was inflexible, capital intensive, and inefficient in a hundred ways,” Crosby said. “Data centers have evolved significantly since then and need to be much closer to end users.”

TENNESSEE FIRM BUYS FORT WORTH’S EMERGENCY MEDICINE CONSULTANTS

Fort Worth-based Emergency Medicine Consultants Ltd. and its affiliated entities have been acquired by Knoxville, Tennessee-based TeamHealth for an undisclosed amount.

Emergency Medicine Consultants provides emergency medicine staffing to 24 facilities and one urgent care center at multiple health systems, including Texas Health Resources and Methodist Health System, according to a release

EMC has roughly 330 physicians and 80 advanced practice clinicians who provide care to more than 900,000 patients a year.

“This new partnership with TeamHealth is founded upon two culturally-aligned, physician-centric groups,” Emergency Medicine Consultants CEO and co-founder John Geesbreght said in the release. “With a shared vision and common values, EMC and TeamHealth will leverage the strengths of both organizations to continue serving patients and their families in the North Texas area.”

CANADIAN FIRM ACQUIRES IRVING-BASED QUISITIVE

Irving-based digital consulting business Quisitive LLC has been acquired by Toronto, Canada-based private equity firm Fusion Agiletech Partners.

The companies did not release any financial details of the deal.

Fusion Agiletech Partners said the acquisition will fund investments in blockchain product innovation and acquisitions of IT service companies that support Quisitive’s North American growth strategy over the next two years.

The Canadian firm will become Quisitive’s parent company under the deal and will be lead by Quisitive’s CEO and President Mike Reinhart. According to a release, Reinhart will help direct Fusion Agiletech’s plans to go public in 2018 in Canada.

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