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February 1, 2024 - Deals
Begin Capital Leads Investment Round In Cloud Development Startup Codesphere With Prominent Investors
RAISE
IMAGE: Jonas Zipprick, Roman Frolov, Elias Groll, Joel van Dijk, Auke van Urk & Moritz Zimmermann
DATE: 03/29/2023
COMPANY: Codesphere
INVESTORS: Begin Capital, Auke van Urk, Ahmad Butt & 42CAP
ROUND: Seed
AMOUNT: $8,100,000
NOTE: We started Codesphere in August 2020 in Karlsruhe (Germany) with the belief that, ultimately, all applications will run in the cloud, just like they run on Android or iOS today. Codesphere aims to accelerate this move to the cloud by connecting the entire development process. Begin Capital led the extension, joined by existing investors and existing and new business angels. Prominent people in the space, like Ben Uretsky (Digital Ocean), Dion Almaer (Google Cloud, Shopify), Mirko Novakovic (Instana), Florian Leibert (Mesosphere), Auke van Urk (Valtech) and Moritz Zimmermann (Hybris) are already on board as Angels or Venture Partners. - We run our own data centers - We can deploy faster than any other PaaS (~1s vs. ~15min) - We built similar software previously at Google - We launch a free tier this summer, but you can receive free credits through a demo.
HQ: #RedwoodCity #California
#VentureCapital #JoelvanDijk #MoritzZimmermann #Codesphere #BeginCapital #AukevanUrk #AhmadButt #42CAP #TradedVC
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Ferrero Acquires Purely Elizabeth For Estimated $850 MillionPurely Elizabeth started with homemade muffins and a $5,000 bet from founder Elizabeth Stein. More than a decade later, the better-for-you food brand has grown to 30,000+ stores and is being acquired by Ferrero for an estimated $850M+.
Stein built the company slowly, waiting years before raising outside capital and expanding from Whole Foods into Target and Walmart. Now, she’ll remain CEO as Purely Elizabeth enters its next chapter under Ferrero.
A founder-led food brand, built without rushing the process.
#VentureCapital #PurelyElizabeth #ElizabethStein #CPG #TradedVC
NVent Electric Acquires Maverick Power For $1.75 Billion To Enhance Power InfrastructurenVent Electric has agreed to acquire Maverick Power for $1.75 billion, with up to $550 million in additional performance-based consideration, as it expands its power infrastructure capabilities to meet rising AI data center demand. The McKinney, Texas-based manufacturer of engineered power distribution solutions, which is expected to generate about $700 million in revenue this year, will strengthen nVent’s offerings across switchgear, switchboards, and modular solutions; nVent CEO Beth Wozniak said the deal will enhance the company’s ability to serve data center customers.
SALE PRICE: $1,750,000,000
HQ: St. Louis Park, Minnesota
#VentureCapital #nVentElectric #MaverickPower #TradedVC