Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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Self-driving truck startup Plus going public via SPAC
Cupertino, California-based , a startup developing technology for self-driving trucks, 聽it has inked an agreement to go public through a merger with a blank-check acquirer, or SPAC.
Under terms of the agreement, Plus will merge with a SPAC called Hennessy Capital Investment Corp. V in a transaction providing a post-combination market capitalization of approximately $3.3 billion.
Founded in 2016, Plus, formerly Plus.ai, plans to begin mass production of an autonomous driving solution, starting in 2021, with heavy-truck manufacturer . The company says it is also working with聽 some of the largest fleets in the U.S. and China to pilot commercial freight operations.
— Joanna Glasner
Benson Hill go public via SPAC
, a St. Louis-based crop design platform, its intention to merge with Star Peak Corp. II, a sustainability SPAC formed by , in a transaction valued at $2 billion and would result in Benson Hill being a public company.
Founded in 2012, Benson Hill raised a total of $282.3 million in known venture capital funding. It most recently landed $150 million Series D funding led by and . Other backers include , , and .
The combined company, to be led by Benson Hill鈥檚 CEO , will be named Benson Hill Inc. and is expected to be listed on the New York Stock Exchange under the ticker symbol BHIL. The transaction is expected to provide $625 million in gross proceeds and to close in the third quarter of 2021.
Benson Hill is the latest agriculture company to announce it would go public via a SPAC. In March, said it would merge with . in a deal valued at $1.2 billion. Experts said to expect at least four to seven more ag SPAC deals like AeroFarms this year.
— Christine Hall
Transportation
GoJek raises another $300M: Southeast Asian ride-hailing giant reportedly in fresh investment from , a unit of Indonesia鈥檚 largest telecom operator . The financing comes as Gojek continues working to finalize a proposed $18 billion merger with e-commerce platform .
Edtech
StuDocu secures $50M: Amsterdam’s , a student-to-student knowledge exchange platform, raised $50 million in a funding round backed by . The platform is popular for sourcing and sharing class notes.
— Joanna Glasner
Health care
AmVentureX brings in $1M: , a Minneapolis-based direct-to-consumer in vitro diagnostic testing company, announced $1 million in funding from to continue developing its health care management platform and expand its nutrition product lines that have more than 100,000 users.
— Christine Hall
Fintech
FinLync banks $16M: Fintech company closed on a $16 million equity funding round led by to continue developing software products for corporate finance and treasury offices. The funding will support growth, including technology development, expanding the firm鈥檚 global reach, and rounding out its executive leadership team.
— Christine Hall
New fund
Sixty8 Capital raises $20M fund: , an Indianapolis-based seed-stage venture capital firm, announced the first close of its $20 million venture fund. Founded in 2019, Sixty8 supports Black-, Latinx-, woman- and LGBTQ+-led startups. Investors in the fund include the , , , ., and the . Sixty8 Capital is industry agnostic and intends to invest in 25 to 30 pre-seed and seed-stage companies with initial equity checks of $250,000 to $500,000 per company, reserving additional funds for follow-on rounds.
— Christine Hall
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