Briefing Venture

The Briefing: Lidar-maker Ouster Eyes Public Market, Peloton Buys Precor, And More

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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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Lidar company Ouster said to eye public markets

San Francisco-based Ouster, a startup that makes lidar sensors for self-driving cars and smart cities, is reportedly in discussions for a deal to go public at a roughly $1.9 billion valuation through a merger with a blank-check acquisition firm.

Reuters reports that the deal would involve a merger with blank-check acquirer Colonnade Acquisition Corp.

Founded in 2015, Ouster previously raised $132 million in venture funding, per Crunchbase data.

Peloton to buy Precor for $420M

Connected fitness provider Peloton announced that it has entered into an agreement to acquire Woodinville, Washington-based exercise equipment maker Precor in a transaction valued at $420 million.

New York-based Peloton says the acquisition will enable it to establish U.S. manufacturing capacity, boost research and development, and accelerate Peloton’s penetration of the commercial market.

The deal follows a blowout year for Peloton, which has seen demand for its products soar as more consumers seek at-home fitness options, with the company securing a public market capitalization of around $42 billion.

Funding rounds

  • Ironclad reportedly raises $100M-plus:  San Francisco-based Ironclad, a developer of software for managing contracts, has reportedly raised at least $100 million in a Series D funding led by VC firm Bond at a post-money valuation of more than $950 million.
  • Liberis banks 70M pounds for business finance platform: Liberis, a London-based embedded business finance platform, secured 70 million pounds ($93.5 million) in financing and venture debt from British Business Investments, Paragon Bank, BCI Europe and Silicon Valley Bank.
  • MINDD lands $1M for women’s intimate apparel: MINDD, a Los Angeles-based intimates company for women, announced a $1 million seed round led by The51 Ventures.

Illustration: Dom Guzman

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