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Batch – Our investment in leading push notification (web and mobile) provider

Created by Simon Dawlat and Antoine Guénard in 2015, Batch is recognized on the market and is growing rapidly and steadily thanks to its new generation CRM platform allowing brands to make their customer journeys mobile centric. It has 70 employees spread between Paris and Lyon and over 500 customers, including most media outlets, many key accounts, service companies, and startups as well as 30% of its customers being international – from the UK and Germany.

This €20-million funding round, announced today, will enable Batch to develop three key projects: the creation of 170 new positions and strengthening its unique corporate culture, optimizing and building-up its technological platform and opening new offices in Marseille, London and Berlin.

A key investment in Orange Venture’s strategy
The mobile-first CRM platform offers a holistic vision of the customer and their journey, meaning omnichannel strategies can be implemented. This participation is perfectly in line with Orange Ventures’ investment strategy, which is based on the desire to support future global tech champions that aim to assist the responsible digital transformation of companies and society. The partnership between Orange Ventures and Batch will provide agile and structured access to Orange ecosystems and commercial business units.

An ambitious development in the coming years
Using this funding, Batch’s first priority is to strengthen its corporate culture by investing in projects devoted to its employees, such as management and financial performance transparency, decision-making processes, work from home as well as gender equality and parenthood. The start-up aims to have 150 employees by end 2022, and 250 employees by 2023. This funding will also be used to continue to strengthen and optimize the technological platform while boosting its development and international growth.
“We are delighted with the support from Orange Ventures during this fundraising because we share the same ambitions. But above all, we share strong common values. Beyond the development of our platform and our international growth, this fundraising will allow us to focus on our corporate culture, because people are at the center of our priorities and represent the base of our development,” says Simon Dawlat, co-founder of Batch.
“Batch has managed to position itself as the leader on its domestic market and to develop a corporate culture focused on its employees’ development. In line with its ambition to help develop a new win-win ecosystem between very agile startups and a major group like Orange, Orange Ventures is happy to support Batch to accelerate its international development and continue its efforts to develop a technology that perfectly addresses the companies’ digitalization challenges,” explains Jérôme Berger, President and Managing Partner of Orange Ventures.

About Batch
Batch has developed a multi-channel customer engagement platform designed for the new generation of marketing divisions and focused on the needs of key accounts and scale-ups. Self-financed for over 6 years, with close to 100 employees, Batch raised its first €20 million in 2021 to strengthen its culture, develop its platform and boost its international deployment. The company is based in Paris and Lyon, with offices in several European cities.
For more information: www.batch.com/

Press Release from Batch
Press Release from Orange Ventures (ENG)
Press release from Orange Ventures (FR)

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EQT Private Equity and Vitruvian Partners announce significant investment in CFC

eqt

EQT Private Equity has agreed to make a significant investment together with Vitruvian Partners in CFC, a leading technology-driven global insurance business

CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber, serving more than 100,000 businesses in over 90 countries.

EQT Private Equity and Vitruvian Partners will support CFC’s investments in innovative and market-leading technology and in continuing to deliver best-in-class products and services to its customers

EQT is pleased to announce that the EQT IX fund (“EQT Private Equity”) has agreed to invest in CFC (the “Company”) alongside management and Vitruvian Partners (“Vitruvian”).

Founded in 1999, CFC was one of the pioneers in the cyber insurance market. Today, it is a technology-driven business that has established itself as a global leader in cyber and provider of cover for a diverse range of emerging risks that sit at the intersection of technology and business. CFC writes 50 products across 20 different classes of specialist insurance focused primarily on SME businesses.

The company has significantly grown its employee count over the past three years and has an established global footprint with more than 500 staff located across the UK, US, Europe and Australia. Earlier in the year CFC also launched its own Lloyd’s Syndicate.

CFC’s continued growth trajectory underlines the depth and quality of its business model: it has an annual premium run rate in excess of GBP 750 million (USD 1 billion) and delivered an organic EBITDA CAGR of 35 percent over the last five years.

Upon completion, following regulatory approval, CFC will nearly double its employee shareholders from 175 to over 300. Employees will remain the largest shareholder in CFC.

Dave Walsh, CFC founder and Group CEO, said, “We’re delighted to welcome EQT as an investor alongside Vitruvian. Both EQT and Vitruvian’s focus on high-growth technology companies and commitment to creating a positive impact through their portfolios is a natural fit with CFC and our ethos as an independent, employee-owned business. EQT’s investment, and Vitruvian’s reinvestment, is testament to CFC’s track record of delivering strong, profitable growth underpinned by the expertise of our people and our history of market-leading technology innovation.

“As we look ahead, we see a risk landscape that is rapidly shifting, with ever-expanding cyber threats, new insurance challenges presented by intangible assets and evolving risks in rapid growth sectors. CFC has a key role to play in helping our growing customer base address these challenges, while the pioneering technology we’ve built over the last two decades is enabling us to deliver at increasing scale. We look forward to partnering with EQT and thank Vitruvian for their continued partnership. It has never been a more exciting time to be at CFC.”

Robert Maclean, Partner within EQT Private Equity’s Advisory Team, commented, “CFC is a truly innovative insurance business with technology at its core and a track record of growth and profitability which surpasses even the most mature Fintech businesses we’ve seen. The accelerating pace of investments in its core platform aligns perfectly with EQT’s approach of future proofing companies.”

Joe O’ Mara, Partner at Vitruvian, commented, “As longstanding partners and investors in CFC, we couldn’t be more enthusiastic about the road ahead. We’ve witnessed first-hand what a remarkable business CFC is – a tribute to the leadership team, the culture they’ve created and the commitment to excellence and innovation that has kept CFC at the forefront of the insurance market.”

Sofia Ahuja, Managing Director within EQT Private Equity’s Advisory Team, added, “CFC’s unrivalled reputation in cyber insurance and focus on emerging risk areas ensures that it is well-placed to capture the significant growth expected in the classes it writes. We’re delighted to invest alongside Vitruvian at this exciting stage in CFC’s journey.”

Stephen Byrne, Partner at Vitruvian, added, “We would like to thank the whole CFC team for a great partnership over the last four years and we are excited to be able to continue to support their ambitions for the future.”

EQT was advised by Morgan Stanley, Kirkland & Ellis, KPMG and Bain & Company on the transaction.

The transaction is subject to customary conditions and approvals. With this transaction, EQT IX is expected to be 70-75 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About CFC
CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber. Our global insurance platform uses cutting-edge technology and data science to deliver smarter, faster underwriting and protect customers from today’s most critical business risks. Headquartered in London with offices in New York, Austin, Brussels and Brisbane, CFC has over 500 staff and is trusted by more than 100,000 businesses in 90 countries.

More info: www.cfcunderwriting.com

About Vitruvian
Vitruvian is an independent growth capital firm headquartered in London with offices across London, Stockholm, Munich, Luxembourg, San Francisco, and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, financial services, life sciences & healthcare, media, and business and consumer services. Vitruvian is currently investing from its fourth fund, the €4.0 billion. Vitruvian Investment Partnership IV, which is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian Funds have backed over 45 companies and have assets under management of approximately €10 billion. Notable investments to date include global market leaders and innovators in their field such as Just Eat, FarFetch, Darktrace, Trustpilot, Marqeta, TransferWise, and Skyscanner.

This release was sent by Cision

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EQT CFC
211021_EQT Private Equity and Vitruvian announces significant investment in CFC

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The Hand Clinic joins Bergman Clinics

NPM Capital

ending approval by the Dutch Healthcare Authority (NZa), Bergman Clinics will acquire the Amsterdam-based specialised clinic The Hand Clinic. This acquisition allows Bergman Clinics to further expand its healthcare portfolio focused on the locomotor system.

The Hand Clinic has been devoted to hand and wrist care for fourteen years and is known for its customer focus and the high quality of its care. As a result, the clinic attracts clients from a large catchment area. According to Monika Ritt, general director of The Hand Clinic, this explains the continuously growing demand for its services. “To meet that demand, we had been looking to join forces with a large and renowned partner. We are happy to announce that we will be joining Bergman Clinics. They share our high standards of quality and are eager to further develop their capacities for hand and wrist surgery.”

Hans van der Heijden, CEO of Bergman Clinics, also expressed his excitement about the acquisition. “This step gives us the opportunity to expand our specific healthcare offerings dedicated to the locomotor system, starting from a shared vision on planned medical care in which quality, client focus, and efficiency are front and center,” he said.

The planned acquisition of The Hand Clinic by Bergman Clinics is scheduled for the end of 2021 and will be closed pending approval by Bergman Clinics’ works council and the Dutch Healthcare Authority (NZa).

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Carbon Re, a climate tech startup, raises £1m seed from UCL Technology Fund & others

AlbionVC

Carbon Re, a climate tech startup, raises £1m in seed funding from the Clean Growth Fund, UCL Technology Fund and Cambridge Enterprise Fund to accelerate the development of AI technology to help the global cement industry, and other energy intensive industries reach net zero.

Energy intensive industries such as cement and steel are responsible for more than 20% of all global emissions.

Carbon Re’s cloud-based platform, Delta Zero, utilises powerful AI tools to achieve operational efficiencies in energy intensive industries, such as cement production, reducing operational costs and carbon emissions to otherwise unachievable levels. Delta Zero enables immediate reductions in energy consumption, cost and carbon emissions, with no capital expenditure.

Carbon Re is currently running pilot projects at cement plants in the EU, Turkey, India, Thailand and Vietnam and studies indicate that the Delta Zero platform could save a single cement plant US$2.3– 5.9 million per annum and a 20% cut in CO₂ emissions from fuel.

Carbon Re technology is based on world-leading research from UCL and Cambridge University, and aims to become the leading global AI company delivering industrial decarbonization.  The investment will support the commercialisation of Carbon Re’s work, which originally started at UCL’s Energy Institute and the University of Cambridge’s Institute for Manufacturing.

Currently the cement industry is Carbon Re’s primary focus area but the company plans to expand into other energy intensive industries, including steel and glass, over the next 12-18 months.

Read the press release here

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Blackstone Real Estate Income Trust Completes Acquisition of WPT Industrial Real Estate Investment Trust

Blackstone

Toronto and New York, October 20, 2021 – Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced that an affiliate has completed its acquisition of WPT Industrial Real Estate Investment Trust (TSX: WIR.U; WIR.UN) (OTCQX: WPTIF) (“WPT”) in a series of transactions that resulted in unitholders receiving US$22.00 per outstanding unit of WPT (collectively, “Units”) (subject to applicable withholdings) in an all-cash transaction valued at US$3.2 billion, including the assumption of debt (the “Transaction”). The Units will be delisted from the Toronto Stock Exchange at the close of business today and WPT will apply to cease to be a reporting issuer under applicable Canadian securities law.

Following closing of the Transaction, former members of the WPT management team will continue to do business under the name WPT Capital Advisors, as an independently owned and operated company.

The Transaction was announced on August 9, 2021.

For more information on the Transaction, please see the news releases issued by WPT on August 9, 2021, September 10, 2021, September 23, 2021, October 7, 2021 and October 13, 2021 along with WPT’s management information circular dated September 2, 2021 prepared in connection with the Transaction, all of which are available under WPT’s profile at www.sedar.com or WPT’s website at www.wptreit.com.

Unitholders who have questions or require assistance with submitting their Units in connection with the Transaction may direct their questions to Computershare Investor Services Inc., which is acting as depositary in connection with the Transaction, by phone toll-free at 1-800-564-6253 or by email at corporateactions@computershare.com.

Advisors
Morgan Stanley & Co. LLC and Desjardins Capital Markets acted as financial advisors to WPT and Blair Franklin Capital Partners Inc. also provided the Special Committee with a fairness opinion in respect of the Transaction.

Blake, Cassels & Graydon LLP and Vinson & Elkins LLP acted as legal counsel to WPT in connection with the Transaction and Wildeboer Dellelce LLP acted as independent legal counsel to the Special Committee.

Eastdil Secured, Goldman Sachs & Co. LLC, BofA Securities and BMO Capital Markets acted as financial advisors to BREIT and Simpson Thacher & Bartlett LLP and Goodmans LLP acted as legal counsel to BREIT.

About Blackstone Real Estate Income Trust 
Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $208 billion in investor capital under management. Further information is available at www.breit.com.

About WPT Industrial Real Estate Investment Trust
WPT Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. WPT acquires, develops, manages and owns distribution and logistics properties located in the United States. WPT Industrial, LP (WPT’s operating subsidiary) indirectly owns or manages a portfolio of properties across 19 U.S. states consisting of approximately 38.0 million square feet of GLA and 112 properties.

Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Forward looking information in this news release includes, but is not limited to, statements relating to the delisting of Units following closing of the Transaction and the expectation that WPT will cease to be a reporting issuer following closing of the Transaction.

Although WPT believes that the expectations and assumptions on which the forward-looking information contained in this news release is based are reasonable, undue reliance should not be placed on the forward-looking information because WPT can give no assurance that it will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

The forward-looking information contained in this news release represents WPT’s expectations as of the date hereof, and is subject to change after such date. WPT disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable Canadian securities laws.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance and statements regarding identified but not yet closed acquisitions. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. These factors include, but are not limited to, those described under the section entitled “Risk Factors” in BREIT’s prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BREIT’s prospectus and other filings). Except as otherwise required by federal securities laws, BREIT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

For more information, please contact:

Jeffrey Kauth
(212) 583-5395
Jeffrey.Kauth@Blackstone.com

Scott Frederiksen, Chief Executive Officer
Matt Cimino, Chief Operating Officer
Tel: (612) 800-8530
IR@wptreit.com

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Bridgepoint to acquire majority stake in PTV Group

Bridgepoint

London/Frankfurt/Stuttgart/Karlsruhe, 19. October 2021 – Bridgepoint, the quoted private assets growth investor is to acquire a majority stake in PTV Group (“PTV”), a leading global software company for traffic simulation and planning as well as provider of optimisation solutions for transport logistics. The previous owner Porsche Automobil Holding SE (“Porsche SE”) will retain a significant minority stake in the company. The parties have agreed not to disclose the purchase price. The partnership between Bridgepoint and Porsche SE aims to further expand PTV’s position as the world’s leading software provider for intelligent and environmentally friendly mobility.

With more than 40 years of experience in the fields of mobility and logistics, the Karlsruhe-based company provides software products including micro- and macroscopic modelling and simulation of traffic, real-time traffic management as well as data-based visualisation and analysis of traffic flows – to benefit more than 2,500 cities and municipalities – all based on proprietary traffic algorithms. In addition, PTV is one of the leading companies providing software for the planning and optimisation of logistics processes, especially in the route optimisation space.

Carsten Kratz, Partner and Head of DACH at Bridgepoint, said, “It is fundamentally Bridgepoint’s goal to invest in successful, sustainable companies in growth markets. With PTV, we are gaining a global leader for our portfolio that enables cities, municipalities, and other organisations to meet the social, environmental, and economic demands of our time. In addition, the company also represents the ideal platform to pursue further acquisitions in the field of intelligent mobility ecosystems.”

Lutz Meschke, Deputy Chairman of the Executive Board Finance of Porsche SE and Chairman of the Supervisory Board of PTV, commented: “The market for intelligent mobility and logistics offers enormous growth potential due to the decarbonisation and urbanisation megatrends. The company has developed positively under the leadership of Christian U. Haas and the right steps have already been implemented to position PTV in the best possible way in this dynamic market. Due to its unique portfolio in the software sector, PTV is also particularly suitable as a platform for inorganic growth. In Bridgepoint, with their buy-and-build expertise, we found the right partner for the management team around Christian U. Haas to lead PTV together into a very successful future.”

Christian U. Haas, CEO of PTV Group, added: “Since I joined PTV almost two years ago, we have made considerable progress with the transformation of PTV into a software company with state-of-the-art cloud and SaaS competencies, generating a positive response from our customers. I am convinced that PTV will take a leading role in solving the challenges in the fields of mobility and logistics.”

Nowadays, cities face enormous challenges such as advancing urbanisation, increased environmental and air pollution, congestion in transport networks and the need to meet CO2 reduction targets. Intelligent transport and logistics concepts are therefore already essential today. Bridgepoint expects the market for the respective solutions to continue to grow significantly in the future. For PTV, this means not only considerable organic growth potential, but also the opportunity to penetrate further areas of the value chain through acquisitions to become the preferred partner of cities and companies for future-oriented, efficient and sustainable mobility solutions.

The transaction is subject to customary competition and regulatory clearances. The advisors involved include Westend Corporate Finance and Linklaters (PTV / Porsche SE) as well as Jefferies, BCG, Allen & Overy, and Alvarez & Marsal (Bridgepoint).

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DIF Capital Partners to become majority shareholder in global solar PV platform ib vogt

DIF

DIF Capital Partners (“DIF”), a leading global independent infrastructure investment fund manager, through its fund DIF Infrastructure VI, has reached an agreement to acquire a 51% stake in ib vogt GmbH (“ib vogt”), one of the world’s leading developers in utility-scale PV solar, from its current 100% shareholder (“DVV”).

With a total capacity, built or in construction, of over 2.2 GWp to date combined with a project development pipeline in excess of 40 GWp, ib vogt continues to benefit from strong growth and is a leading global utility scale solar PV development platform. Headquartered in Berlin, Germany, ib vogt has established 27 offices across Europe, North America, Asia-Pacific and Africa as part of its presence in over 40 countries. The group works together with numerous partners globally, augmenting its in-house team of over 540 experts who are active in all areas of the solar value chain.

DIF and DVV have entered into this strategic partnership with the aim of accelerating ib vogt’s growth program and asset build out as well as to fast track the transition of the company towards an independent power producer (“IPP”) model that develops, owns, and operates solar and battery storage projects. As part of the agreement, DIF will acquire a 51% stake in ib vogt (excluding certain projects for regulatory reasons) and the shareholders will undertake a capital injection at closing.

“We are delighted to partner with DVV and the ib vogt team, who have proven to be one of the leading solar development platforms globally. The development, construction and operation of solar energy and battery storage plays a vital role in the decarbonisation of electricity markets across the world and we believe ib vogt is well placed to play a major role in this,” said Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI. “We are excited to support the company and the highly experienced management team in the next phase of its growth, realising ib vogt’s impressive pipeline and continuing the transformation from a developer into a global IPP.”

“The partnership with DIF will have an energising effect for the company. We are delighted to be working with the DIF team. Our sector – and the company – are growing rapidly. The partnership represents an important and transformative next step in our evolution. It will help the company to reach new heights, accelerating the conversion of the tremendous pipeline potential that we have built up, and thereby creating a leading and value-adding IPP platform,” said Anton Milner, CEO of ib vogt.

“Our industry is pivotal in the fight against climate change. Together with DIF we have an opportunity to significantly increase the company’s contribution and impact in addressing this key global challenge. We are excited about our partnership and taking the company to the next level,” added Dagmar Vogt, founder and shareholder of ib vogt.

DVV was advised by Marathon Capital, Ikarus Capital as well as Hogan Lovells International LLP and AU VON POCHHAMMER Rechtsanwälte. DIF was advised by Evercore, Schenck Energy and Ashurst.

The transaction is subject to receipt of usual and customary regulatory approvals and consents for transactions of this nature. Closing is expected to take place during Q4 2021.

About ib vogt

ib vogt is firmly committed to supporting the decarbonisation of the global electricity sector. As an integrated developer, ib vogt specialises in the development, design, engineering, financing, EPC, operation, maintenance, and asset management of solar power plants, offering high-quality turnkey solutions to asset owners. The company currently has multiple hundred-MWp projects under construction with a multi-GWp international project pipeline.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF supports the goal of Net Zero greenhouse gas emissions by 2050, in-line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:
Thijs Verburg, IR & BD
Email: t.verburg@dif.eu

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Instacart acquires smart checkout startup Caper AI for $350M

Lux Capital

Instacart today announced that it acquired Caper AI, a startup developing technologies to automate brick-and-mortar checkout experiences, for approximately $350 million in cash and stock. With the purchase, Instacart says that it aims to help retailers “unify in-store and online shopping [flows] for customers.”

Caper’s New York-based workforce will join Instacart, adding hardware engineering talent to Instacart’s existing product development team. Over time, Instacart expects to integrate Caper’s technology into the Instacart app and the ecommerce websites and apps of its retail partners, allowing customers to build online shopping lists and browse recipes ahead of time and check off their lists as they go.

“Over the years, Instacart has continued to expand its retailer enablement services, helping brick-and-mortar grocers across North America move their businesses online, grow, and meet the evolving needs of their customers. As we look ahead, we’re focused on creating even more ways for retailers to develop unified commerce offerings that help address consumer needs across both online and in-store shopping,” Instacart CEO Fidji Simo said in a statement.

AI-powered shopping

Caper was founded in 2016 by Lindon Gao and York Yang. Gao, the president of jewelry manufacturer JPG Crafts, was previously an investment banking analyst at Goldman Sachs and J.P. Morgan.

“The powerful technology we’ve created is intuitive for customers, easy to deploy for retailers of all sizes, and creates a physical retail ecosystem that never existed before,” Gao said in a press release. “We share Instacart’s vision of enabling grocery retailers with new innovations that create step changes for their businesses, and we’re proud to now be joining forces with Instacart to develop even more solutions that help bring the online and offline together for retailers.”

Caper offers two products: the Caper Cart and the Caper Counter.

The Caper Cart is a shopping cart that uses computer vision and cameras to detect and add items to a digital shopping list (a la Amazon’s Dash Cart). When shoppers toss items into the cart’s basket, they’re recognized by an algorithm trained on a database of over 20 million images and analyzed to provide personalized recommendations and nearby deals via a screen mounted to the cart. The cart automatically measures item weight and will soon provide location-based services that let customers search for and receive directions to items in the store.

Caper cart

Above: A rendering of the Caper Cart.

The Caper Counter also employs AI and cameras to scan items barcode-free, replacing a traditional self-checkout counter with a device that scans items from five different angles to complete transactions. The counter offers promotions and provides digital receipts through a digital display and also lets staff monitor activity to prevent theft, as well as add images of unfamiliar items to Caper’s image recognition database.

Caper’s carts — which were the first in the U.S. approved by the federal government’s National Type Evaluation Program (NTEP), which certifies that they can accurately sell items priced by weight and measures — are currently deployed at Kroger and Wakefern, Sobeys in Canada, and Auchan in France and Spain. That’s in addition to Caper’s smart checkout counters in convenience stores.

Caper Counter

Above: The Caper Counter.

Image Credit: Cape AI

Caper had raised $13 million in venture capital from Lux Capital, FundersClub, HCVC, First Round Capital, Red Apple Group, Redo Ventures, Precursor Ventures, and Y Combinator prior to the acquisition.

“[W]e’re thrilled to welcome the Caper AI team to Instacart. We share the same goal of equipping retailers with new and innovative technologies that help them succeed in an increasingly competitive industry, while also providing customers with the best possible experience. We’re excited to bring Caper’s leading smart carts and smart checkout platform to more retailers around the world, as we all reimagine the future of grocery together,” Simo said. “We’ll continue to deepen our investment in our suite of enterprise technology services, unlocking new solutions that help power the comprehensive ecommerce platforms of retailers across North America.”

Smart retail boom

Instacart’s purchase of Caper comes on the heels of its acquisition of FoodStorm, which offers an order-ahead and catering solution for retailers. It’s the latest in a series of investments in Instagram’s enterprise technology services, which the company began offering to partners like Aldi, Costco Canada, Heinen’s, Kroger, Publix, Sprouts, The Fresh Market, Walmart Canada, and Wegmans in 2017 as it looked for new lines of business beyond delivery.

Instacart is one of the largest online grocery platforms in North America, with over 600 retailers delivering from 55,000 stores in over 5,500 cities. (The company estimates its service is available to over 85% of U.S. households and 90% of Canadian households.) Recently, Instacart closed a $265 million funding round at a valuation twice what it was worth last October: $39 billion.

But delivery is an expensive venture, given the challenge of maintaining a dedicated network of shoppers, delivery drivers, and cashiers. This week, the Gig Workers Collective — a network of about 13,000 of Instacart’s 500,000 shoppers — organized a strike protesting the company’s low pay and lack of communication with its laborers. Instacart reportedly turned a profit in the second quarter, netting about $10 million. But as recently as 2019, the company was losing $25 million every month — despite the fact that online grocery purchases have jumped during the pandemic to $1 trillion.

To boost revenue, Instacart has expanded its enterprise offerings including Instacart Advertising, a tool that lets consumer packaged goods companies promote their products to users of the Instacart app. In July, the company launched a new fulfillment solution with Fabric, a startup offering robot-powered “microfulfillment” services designed to operate in dense metropolitan areas. And following the acquisition of FoodStorm, Instacart said it would begin to provide ways for retailers to offer prepared foods for preorder, which are typically more profitable than groceries like produce and packaged goods.

Instacart previously said that expects to grow its corporate headcount by 50% in 2021 as part of its planned expansion initiatives.

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Saildrone Closes $100 Million Series C Funding Round to Advance Ocean Intelligence Products

Lux Capital

ALAMEDA, Calif., Oct. 18, 2021 /PRNewswire/ — Saildrone, the emerging market leader in ocean data, ocean mapping, and maritime intelligence solutions, today announced the close of its $100M Series C round, bringing its total funding to $190M.

Saildrone announces $100 Million Series C Funding round to advance ocean intelligence products. Pictured: Saildrone Surveyor 72-foot ocean drone in Hawaii.
Saildrone announces $100 Million Series C Funding round to advance ocean intelligence products. Pictured: Saildrone Surveyor 72-foot ocean drone in Hawaii.

Led by BOND, the round includes new investors XN, Standard Investments, Emerson Collective, and Crowley Maritime Corporation, as well as participation from previous investors, Capricorn’s Technology Impact Fund, Lux Capital, Social Capital, and Tribe Capital. The new financing will be used to grow Saildrone’s data insight teams and scale go-to-market functions to meet the rapidly growing demand for ocean domain intelligence.

Saildrone’s products are based on data collected from a fleet of uncrewed surface vehicles (USVs) that are powered primarily by renewable wind and solar power. Saildrone USVs are the most reliable autonomous vehicles on the planet, sailing over 500,000 nautical miles and clocking more than 15,000 days at sea in some of the harshest conditions on the planet. From the ice edge in the high Arctic to the inhospitable Southern Ocean, Saildrone USVs have proven their exceptional endurance and ability to collect rich, high-precision data. Only last week, a Saildrone USV navigated to the heart of Hurricane Sam, in a world first, taking scientific measurements and HD video that stands to transform our understanding of hurricane forecasting.

Saildrone not only collects scientific data for climate intelligence and high-resolution bathymetric mapping of the ocean floor, it also uses proprietary machine learning to provide marine domain awareness (MDA/ISR) for law enforcement and homeland security applications such as policing IUU fishing, counter narcotics operations, and marine sanctuary protection.

“We’re thrilled to partner with Saildrone as they build out the future of maritime intelligence, drawing on their unique technological differentiation and expansive mission history to serve customers across diverse industries,” said Noah Knauf, general partner at BOND, who will join the company’s Board of Directors.

An American owned and operated company founded in 2012, Saildrone’s mission is to sustainably explore, map, and monitor the ocean to understand, protect, and preserve our world. Predominantly powered by renewable energy, Saildrone USVs have a minimal carbon footprint and are equipped with advanced sensors and embedded ML/AI technology to deliver critical insights from any ocean, at any time of year.

“We are honored to have the BOND team and our new investors join our journey,” said Richard Jenkins, Saildrone founder and CEO. “The combination of the most tried and tested autonomous ocean technology with the partnership of some of the most experienced venture capitalists in the world consolidates our industry leadership and enables our rapid growth path to meet the needs of our customers.”

Contact: 

Susan Ryan

Vice President Marketing, Saildrone

Cell: (314) 914-5008 

susan.ryan@saildrone.com

SOURCE Saildrone Inc.

Categories: News

Acquisition of Polish Pet Food Manufacturer Werbliński by Partner in Pet Food

Cinven

Partner in Pet Food (‘PPF’), a leading European pet food manufacturer, announces that it has reached an agreement with Mr. Grzegorz Werbliński, the successful Polish entrepreneur, to acquire his businesses G-Mart and Zakład Przetwórstwa Rolniczego in Poland (‘Werbliński’).

The transaction is expected to be completed in the coming months, subject to customary regulatory approvals and contractual closing conditions.

The Werbliński pet food business, established in 2004, near Kalisz, Poland, has a long history of producing high quality dog and cat food for Polish and international customers, including supermarkets and specialty pet food retailers.

Werblinski is highly complementary to PPF, given its geographical presence. It has strong growth prospects, and fully reflects PPF’s strategy to further expand its business in the fast-growing Polish and CEE markets and develop product offering in all categories.

This transaction follows PPF’s recent acquisition of Mispol, another leading Polish pet food manufacturer, and the acquisition of Landini Giuntini in Italy in January 2021.

Commenting on the acquisition, Gerald Kuehr, CEO of PPF, said:

“With its strong footprint in Poland and successful growth strategy, Werbliński represents a significant opportunity for us to further expand our local presence in Poland and CEE. We look forward to welcoming the Werbliński Team and Grzegorz himself into the PPF family and to recognising this acquisition as another major step in the future growth and development plans of our business.”

Grzegorz Werbliński commented:

“I’m excited to join Partner in Pet Food together with my experienced and dedicated team and be part of the pan European PPF Group and the success of our companies together.”

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