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Alpaca, a brokerage infrastructure provider whose APIs are used by partners including Kraken, SBI Securities, and Dime!, has raised a $150 million Series D at a $1.15 billion valuation. The round was led by Drive Capital, and Drive Capital co-founder and partner Chris Olsen will join Alpaca’s board as part of the financing. Investors participating in the Series D included Citadel Securities; Opera Tech Ventures, the venture arm of BNP Paribas; MUFG Innovation Partners; Flat Capital; DRW Venture Capital; Kraken; Altered Capital; X&KSK; Bank Muscat; and Endeavor Catalyst, among others. Returning backers included Portage, Horizons Ventures, Social Leverage, Unbound, Diagram, and Derayah Financial, while Revolut CTO Vlad Yatsenko also participated as an angel investor.

Caldera Therapeutics, a clinical-stage biotechnology company developing a first-in-class bispecific antibody for inflammatory bowel disease (IBD) and other immunologic and inflammatory diseases, launched with $112.5 million in total capital raised and said it has dosed the first subjects in a Phase 1 trial of its lead program, CLD-423.

Prime Pensions (PPI), a provider of retirement plan administration, consulting, and compliance services based in Florham Park, New Jersey, has acquired The Raymond Company Pension Services, a third-party administrator of retirement plans headquartered in Mesa, Arizona.

Gold Royalty announced it has agreed to acquire an additional net smelter return royalty on the Borborema gold mine and property in northeast Brazil from Dundee Corporation for total consideration of $45 million, made up of $30 million in cash and 3,571,429 newly issued Gold Royalty common shares priced using a 20-day volume-weighted average price of $4.20.

emagine announced it has signed an agreement to acquire Waada The Movement, a Netherlands-based consultancy focused on business transformation, data, and software development, in a move designed to deepen emagine’s advisory bench and strengthen end-to-end delivery for complex digital programs.

Tailwind Capital, a growth-oriented private equity firm focused on Industrial and Technical Services, has made an investment in Valor Fleet Services, partnering with the Mid-Atlantic towing and roadside services platform to support its next phase of expansion.

TIC Holding Schweiz AG, a buy-and-build platform backed by Winterberg Investment X and managed by Winterberg Advisory GmbH, has acquired HSE Conseils SA, a Laténa (Neuchâtel)-headquartered specialist in construction-related pollutants, environmental services, and occupational health and safety with six additional locations across Switzerland.

Kikin Financial, a UK-based fintech lending platform focused on small and medium-sized enterprises, announced it has secured initial funding through Percent’s private credit platform, with capacity to access up to $20 million as it scales its UK business.

OpenAI has partnered with Cerebras to add 750 megawatts of ultra low-latency AI compute to OpenAI’s platform, expanding the company’s inference capacity with systems designed to deliver faster, more responsive model outputs.

The facilities management landscape is evolving faster than ever. What was once a back-office function confined to spreadsheets and siloed CMMS tools is now emerging as a strategic lever for operational excellence, sustainability, and tenant experience. Facilio, led by Co-Founder & CEO Prabhu Ramachandran, is at the forefront of this transformation - building a connected, AI-powered platform that unifies building operations across continents. From CBRE Pacific in Australia to Brookfield, British Land, Investa, and Dubai World Trade Centre, the world’s leading property operators are embracing Facilio to modernize operations, reduce inefficiencies, and future-proof their portfolios. Pulse 2.0 interviewed Ramachandran to gain a deeper understanding of the company.

IO River, a startup positioning itself as an “unbundler” of the legacy content delivery network (CDN) market, has raised a $20 million Series A round to expand its Multi-Edge platform, which aims to let enterprises operate across multiple edge providers through a neutral control layer.

Water Street Healthcare Partners has invested in Pillr Health, a provider of software and tech-enabled services designed to help hospitals and health systems optimize pharmacy operations, particularly within the federal 340B outpatient drug pricing program.

SkyFi, an AI-first Earth intelligence platform, has raised $12.7 million in an oversubscribed Series A round to expand access to on-demand satellite imagery and built-in geospatial analytics across commercial and government use cases. The financing was co-led by Buoyant Ventures and IronGate Capital Advisors, with new participation from DNV Ventures, TFX Capital, Beyond Earth Ventures, Nova Threshold, and Chris Morisoli, alongside existing investors RSquared VC and J2 Ventures.

osapiens, a provider of enterprise software focused on sustainable growth, has entered into an agreement for Decarbonization Partners—a joint venture between BlackRock and Temasek—to lead a $100 million Series C round, subject to regulatory approvals. The financing pushes osapiens to unicorn status, marking a valuation of more than $1 billion.

Amperon announced it has secured an investment from Samsung Venture Investment Corporation, adding a major strategic backer as the company continues international expansion and develops its next-generation AI-driven forecasting products for energy markets. The terms of the investment were not disclosed.

Vista AI, a provider of automated MRI scanning software for hospitals and imaging centers, has closed a $29.5 million Series B financing round backed by a mix of health systems and venture investors as it looks to scale its FDA-cleared cardiac MRI platform and broaden into additional anatomies.

Listen Labs, an AI-first customer research platform, said it has raised $69 million in a Series B round led by Ribbit Capital, with participation from Evantic and existing investors Sequoia Capital, Conviction, and Pear VC.

Project Eleven, a company focused on post-quantum security and migration for digital assets, has raised $20 million in a Series A funding round led by Castle Island Ventures, with participation from Coinbase Ventures, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures and Balaji Srinivasan.

Quadric, an on-device AI inference processor IP and tooling provider headquartered in Burlingame, California, has raised an oversubscribed $30 million Series C round, bringing total capital raised to $72 million. The financing was led by the ACCELERATE Fund, managed by BEENEXT Capital Management.

Meld, a provider of infrastructure for accessing digital assets and stablecoins, has raised a $7 million strategic funding round led by Lightspeed Faction, with participation from F-Prime, Yolo Investments, and Scytale Digital.

Kasa announced it has entered into a strategic combination with Mint House, adding Mint House’s portfolio of nearly 1,000 residential hospitality units to Kasa’s platform and widening its reach in both corporate and leisure travel.

Natural Fiber Welding (NFW), a Peoria, Illinois-based materials science company developing high-performance, plant-based alternatives to petroleum-derived plastics and synthetics, said it has secured a strategic joint investment from Provest Equity Partners and CTW Venture Partners.

SPINS, a provider of CPG data, insights, and commerce solutions, has acquired MikMak, a commerce intelligence and omnichannel orchestration company, as the firms push to help brands engage and measure shoppers across increasingly fragmented buying journeys.

Skild AI, a Pittsburgh-based AI robotics company developing a foundation model designed to serve as a general-purpose “brain” for multiple types of robots, announced it has raised close to $1.4 billion in new funding at a valuation above $14 billion.

Golden State Dermatology (GSD), a physician-owned dermatology platform with 45 locations and more than 125 providers across California, has acquired NorCal Vein Specialists, a two-location vein care practice serving patients in Northern California.

Coller Capital announced it has reached the final closing of Coller International Partners IX (CIP IX), its largest fund to date, bringing total capital raised in its latest fundraising cycle to $17 billion across its global private equity secondaries platform.

Jadwa Investment has launched its flagship private credit vehicle, the Jadwa GCC Diversified Private Credit Fund, targeting up to SAR 750 million (about $200 million) as the firm expands its regional private credit platform beyond deal-by-deal strategies.

Empower announced Blackstone has joined its private markets investment partnership program, expanding the menu of private market strategies the retirement-services provider can offer to defined contribution plan participants through collective investment trusts.

Coating Place, a U.S.-based contract development and manufacturing organization (CDMO) specializing in microencapsulation, has secured a strategic growth capital investment from 1315 Capital, the firms said. Financial terms were not disclosed.

OpenAssets has launched as the new parent brand of Pointsville, positioning itself as an open-standards provider for digital financial infrastructure aimed at institutional and sovereign users. The company said it is building a “trusted foundation” for real-world asset (RWA) tokenization as capital markets move toward digital issuance and faster settlement.