Growth equity firm PSG has led a $200 million investment round in media technology company Backlight. The investment supports the company’s launch and the acquisition of five five media software businesses: ftrack, iconik, Celtx, Wildmoka, and Zype. Backlight’s mission is to serve media, entertainment, and video-forward customers with cloud-based solutions that improve every step of the media content lifecycle. The investment will be used to support Backlight’s pursuit of additional add-on acquisitions of technology platforms that serve the media content lifecycle.

Splend, a vehicle subscription business for rideshare and delivery drivers, has secured a new senior secured credit facility with Pollen Street Capital. The new facility will support Splend in accelerating its transition to green mobility and help the growing number of on-demand workers earn an income and be successful.

Carbon tracking experts Cogo are collaborating with ING’s innovation accelerator, ING Labs Brussels, as one of the 2022 cohort of start-ups. ING will work with Cogo to validate its unique capability to integrate their carbon tracking technology into digital banking propositions. The first step will be to develop a proof of concept over the next sixteen weeks.   The Proof of Concept will be developed in a banking context, to demonstrate the capabilities of Cogo’s current technologies.  ING Labs Brussels also announced earlier that regtech start-up Sygno and data visualisation tool Solidatus will also be part of the 2022 cohort. 

Actis, a leading global investor in sustainable infrastructure has entered a deal to purchase a 50% stake in Emirates District Cooling Company (EMICOOL) from Dubai Investments – a diversified investment company listed on the Dubai Financial Market (DFM), at a corporate valuation of $1 billion, forming a JV to grow Emicool. With an extensive network in multiple geographies, the JV is aimed at supporting Emicool in its vision towards becoming one of the leading providers of sustainable and efficient district cooling services in the wider MENA region. The deal is one of largest transactions in the district cooling industry in

Gioconda, the Italian subsidiary of LBO France, is to acquire a majority stake in Astidental Bquadro, an Italian company specialising in the distribution of dental consumables and equipment for dentists, dental laboratories and dental clinic networks. The investment which is being made alongside existing shareholders Paolo Gibellino and Franco Ravanetti, as well as company management, is being made by the Small Caps Opportunities II fund. Gibellino will continue ti lead the company as President and CEO.

Ribonexus, a biotechnology start-up developing new therapies that can overcome resistance to current targeted therapies in cancer patients, has received €2 million ($2.19m) in funds from the French public investment bank Bpifrance. This financing, which has been granted in connection with the French government’s ‘Deeptech Plan’, will enable Ribonexus to select the best drug candidate to enter preclinical development and leverage its proprietary platform based on a key selective pathway.   The company will receive two instalments via the French government’s ‘Future Investments Program’: €1.4m ($1.53m) in the form of a repayable advance and €600k ($658k) in grants.