Sergey Brin's big airship, Elon Musk's back-to-work directive, and investors back away from buy-now-pay-later cos.

Powerhouse Sheryl Sandberg says she's stepping down as the COO of Facebook parent company Meta Platforms 14 years after accepting the role. She will remain on the company's board, while Javier Olivan, who joined the company 13 years ago and is currently Meta's chief growth officer, will assume her position. CEO Mark Zuckerberg showered praise on Sandberg in a Facebook post in which he said the role of COO will change going forward. “I don’t plan to replace Sheryl’s role in our existing structure,” he wrote. “I’m not sure that would be possible since she’s a superstar who defined the COO role in her own unique way.”

Some are calling Sandberg's departure a surprise; most are surprised that Sandberg stayed as long as did. We fall into the latter camp, after last year reading (and interviewing a coauthor of) "An Ugly Truth," a deep dive into the once-close working relationship between Sandberg and Zuckerberg, which was reportedly strained to the breaking point during the last administration. (You might have noticed that Sandberg, long Facebook's front man, had very much receded into the shadows in recent years.) 

The writing was on the wall at least a year ago, when the WSJ reported that the number of people reporting to Sandberg was on the decline  -- while those reporting to Olivan had grown.

But another possible factor precipitating today's announcement: two months ago, Sandberg was in the headlines for the wrong reasons, with the WSJ reporting that in 2016 and again in 2019 she urged a British tabloid to refrain from reporting certain details about her former boyfriend, Activision Blizzard CEO Bobby Kotick. (Activision is separately facing an avalanche of lawsuits tied to misconduct at the company.) 

Sandberg, who is a major political donor to Democrats and a women’s advocate, was reportedly being considered for a top job in the cabinet of Hilary Clinton when the former U.S. Secretary of State was expected to win the 2016 presidential election. 

If Sandberg has political ambitions now, however, she isn't saying. “I am not entirely sure what the future will bring — I have learned no one ever is,” reads a note she published on Facebook earlier today. “But I know it will include focusing more on my foundation and philanthropic work, which is more important to me than ever given how critical this moment is for women.”

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Boldstart Ventures, a seed- and early-stage venture firm that markets itself as a "day one partner for developer-first, crypto-infrastructure and SaaS founders," has closed on two new funds roughly 14 months after announcing its last two funds.

The firm -- which began in New York with a $1 million proof-of-concept fund in 2010 -- has closed its sixth flagship fund with $192.2 million, it is announcing today; it also closed its third opportunity-style fund to back its breakaway companies with $175 million in capital commitments.

Early last year, Boldstart closed on $155 million in capital commitments for its fifth flagship fund and $75 million for its second opportunity fund, so its newest later-stage vehicle is a big step up in particular. It also comes at an auspicious time, given that some of the industry's most active late-stage investors, including SoftBank and Tiger Global, are writing fewer and smaller checks at the moment. (The less competition for late-stage deals, the less frothy the deal terms, the more time for due diligence, yadda yadda.)

More here.

Coralogix, an eight-year-old San Francisco startup in the observability space that monitors customers' applications without relying on storage or indexing, raised a $142 million Series D round co-led by Advent International and Brighton Park Capital; Revaia and previous investors Greenfield Partners, Red Dot Capital Partners, O.G. Tech, StageOne Ventures, Joule Capital Partners, and Maor Investments also participated. The company has raised a total of $238 million. VentureBeat has more here.

InfStones, a four-year-old Palo Alto startup that helps clients architect apps for different blockchain platforms, raised a $66 million round co-led by SoftBank and GGV Capital, with additional funds supplied by INCE Capital, 10T Fund, SNZ Holding, and A&T Capital. The company has raised a total of $110.2 million. TechCrunch has more here.

Odilo, an eleven-year-old Madrid startup that has built a white-label platform used by businesses or organizations to build their own customized e-learning offerings in a B2B2C model, raised €60 million led by Bregal Milestone; previous investors Swanlaab and CDTI also pitched in. TechCrunch has more here.

Slice, a twelve-year-old New York startup that offers credit card features including rewards to over 12 million people in India, raised a $50 million Series C round that values the company between $1.5 billion and $1.8 billion, according to TechCrunch. GMO Venture Partners and previous investors Insight Partners and Moore Strategic Ventures led the deal. The company has raised a total of $175 million. TechCrunch has more here.

Super, a four-year-old, Jakarta, Indonesia-based social commerce platform serving tier-2 and tier-3 cities and Indonesian rural areas, has raised $70 million in Series C funding led by NEA. Other backers in the round include Insignia Ventures Partners, SoftBank Ventures Asia, DST Global Partners, Amasia, B Capital, TNB Aura, Bain Capital Chairman Stephen Pagliuca, Goldhouse, and Xendit CEO Moses Lo. The startup has now raised $106 million altogether. More here.

WorkOS, a three-year-old, San Francisco-based platform that lets developers add enterprise features like single sign-on and directory sync to apps, says it has raised $80 million in Series B funding led by Greenoaks, with participation from investor Lachy Groom, Lightspeed Ventures and Abstract Ventures. TechCrunch has more here.

Air Doctor, a six-year-old startup based in Beit Neqofa, Israel, that connects travelers seeking medical attention with local doctors through its mobile and desktop app, raised $20 million led by Lightspeed Venture Partners. Other investors in the round included Vintage Investment Partners, Munich Re Ventures, The Phoenix, and previous investor Kamet Ventures. The company has raised a total of $30.9 million. More here.

Code Intelligence, a five-year-old startup based in Bonn, Germany, that tests applications for security vulnerabilities through inputting invalid, unexpected, or random data, raised a $12 million Series A round led by Tola Capital; previous investors LBBW, Occident, Verve Ventures, and HTGF also chipped in. The company has raised a total of $14.9 million. TechCrunch has more here.

FarmWise, a six-year-old San Francisco startup that has built a robot that uses AI, cameras, and sensors to remove weeds, raised a $45 million Series B round co-led by Fall Line Capital and Middleland Capital, with additional participation from GV, Taylor Farms, Calibrate Ventures, Playground Global, and Cavallo Ventures. The company has raised a total of $65.2 million. AFN has more here.

Hint Health, an eight-year-old, San Francisco-based practice management platform that aims to enable successful direct primary care programs, has raised $45 million in funding led by Banneker Partners and Frist Cressey Ventures. The round brings the company's total funding to $60 million. More here.

HitPay, a six-year-old Singapore startup that has built a no-code storefront platform and payment gateway for small businesses, raised a $15.8 million Series A led by Tiger Global, with Global Founders Capital and HOF Capital also contributing to the round. The company has raised a total of $18.4 million. TechCrunch has more here.

Hourly.io, a four-year-old Palo Alto startup whose app tracks working hours, generates payroll, and then calculates and assigns workers’ compensation insurance, raised a $27 million round led by Glilot Capital Partners; S Capital, Vintage Investment Partners, and J-Ventures also participated. The company has raised a total of $34.2 million. TechCrunch has more here.

Inne, a six-year-old Berlin startup whose mini-lab product uses saliva to track female cycles and fertility levels, raised a $10 million Series A extension led by DSM Venturing; Borski Fund and Calm Storm Ventures also pitched in. The company has raised a total of $18.9 million. Femtech Insider has more here.

Kryptomon, a one-year-old startup that has built an NFT gaming platform, raised a $10 million Series A round led by NFX, with additional capital provided by PlayStudios, Fininvest, and Vikram Pandit. The company has raised a total of $11.2 million. Geektime has more here.

Ordr, a seven-year-old, Santa Clara, Ca.-based cybersecurity startup that monitors connected devices for anomalies, has raised $40 million in Series C funding. Battery Ventures and Ten Eleven Ventures co-led the round, joined by Northgate Capital, Wing Venture Capital, Unusual Ventures and several health organizations, including Kaiser Permanente Ventures and Mayo Clinic. TechCrunch has more here.

Solv, a six-year-old startup based in Oakland, Ca., that sells software to healthcare providers to help them build out digital capabilities like online scheduling, paperless registration, queuing, and reputation management, raised a $45 million Series C round co-led by Acrew Capital and Corner Ventures, with additional funds provided by previous investors Benchmark and Greylock. The company has raised a total of $95 million. FierceHealthcare has more here.

Synaptic, a six-year-old startup based in Gurgaon, India, that provides insights about private and public companies to VCs and other investors on its no-code platform, raised a $20 million Series B round led by Valor Equity Partners. More here.

Tandym, a one-year-old Chicago startup that partners with e-commerce brands that make under $1 billion in revenue and helps them offer lines of credit to their customers, raised $10 million in equity funding and $50 million in debt. Gradient Ventures led the equity portion, with participation from Obvious Ventures; Rivonia Road supplied the debt capital. Built In Chicago has more here.

Vibenomics, a six-year-old startup based in Fishers, In., that powers audio channels for retailers, giving brands the ability to talk to shoppers directly at the point of sale, raised a $12.3 million Series B. The deal lead was Panoramic Ventures. The company has raised a total of $33.7 million. More here.

WIN Reality, a four-year-old startup based in Austin, Tex., that makes training tools on the Meta Quest headset for baseball and softball hitters, raised a $45 million round from Spectrum Equity. The company has raised a total of $48.9 million. SportTechie has more here.

Betastore, a two-year-old startup based in Lagos, Nigeria, that has built an online retail marketplace currently serving small businesses in Ghana, Congo, and Cameroon, raised a $2.5 million round from 500 Global, VestedWorld, and Loyal VC. The company has raised a total of $3.2 million. TechCrunch has more here.

CloseFactor, a three-year-old Palo Alto startup that uses machine learning to deliver customized sales insights about target accounts and buyer personas, raised $4.5 million in seed funding. Sequoia Capital led the deal. More here.

Digiphy, a one-year-old Los Angeles startup that has created a contextual marketing platform for brands, raised a $1.5 million round from Gaingels, M13, Builders & Backers, Eyrir Venture, and Sify Ventures. More here.

JUNOCO, a four-year-old startup based in Burlingame, CA, that manufactures a direct-to-consumer skin care brand, raised $6.3 million Series A round led by Vision Plus Capital, with additional funds provided by Frees Fund. WWD has more here.

Merge, a two-year-old San Francisco startup that aims to provide banking and payment infrastructure for Web3 companies, raised a $9.5 million seed round. Octopus Ventures led the deal, while Hashed, Coinbase Ventures, Alameda Research, and Ethereal Ventures also chipped in. AltFi has more here.

Novoloop, a seven-year-old, Menlo Park, Ca.-based upcycling company that says it creates quality chemicals and materials made from plastic waste, has raised a $10 million Series A extension round co-led by South Korean chemical firm Hanwha Solutions and Mistletoe, the venture capital firm of Taizo Son (younger brother of SoftBank's Masayoshi Son). The company has now raised $24 million altogether. TechCrunch has more here.

OMORPHO, a five-year-old startup based in Portland, OR, that aims to improve fitness and strength through "micro-weighted sportswear," raised a $6 million seed round led by KB Partners, with additional participation from Greenchain Capital and Madison Square Garden Sports Corp. More here.

Poparazzi, a three-year-old, 'anti-Instagram' social app that hit the top of the App Store last year, is confirming a January report in the newsletter Newcomer that Benchmark led its Series A round and revealing it raised $15 million at the time. TechCrunch has more here.

SolarCycle, a months-old, Oakland, Ca.-based startup for recycling and reusing solar panels, has raised a $6.6 million in seed funding led by Urban Innovation Fund. Other backers in the round include Closed Loop Partners, SolarCity founders Peter and Lyndon Rive, and Sunpower CTO Tom Dinwoodie. Solar Power World has more here.

Talk360, a six-year-old startup based in Leusden, The Netherlands, that is building a new payment platform that will integrate all available payment options across Africa, raised a $4 million seed round led by HAVAÍC. TechCrunch has more here.

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Alven, the 22-year-old, Paris-based venture firm, has raised €350 million for its sixth pre-seed to early-stage fund. The fund is the firm's sixth and its largest to date. According to Sifted, the idea is to invest between a few hundred thousand euros to €15 million into European businesses or European founders in the U.S., and to reserve around 60% to 70% of the fund for follow-ons. Sifted has more here.

Binance Labs, the investment arm of the world’s largest cryptocurrency exchange, today announced a new half-billion dollar fund. The $500 million will be invested in Web3 projects, the exchange said in a statement. The fund has big backers: Internet investment capital firm DST Global and global venture capital firm Breyer Capital are both involved. Decrypt has more here.

Fabric Ventures, a five-year-old, Luxembourg and London-based venture capital firm that focused on financial service and cryptocurrency sectors (it now markets itself as a web3-focused fund), has closed its newest fund with $140 million in capital commitments. It also announced the first close (without naming the amount) of a new growth fund that's targeting $100 million. Tech.eu has more here.

Ticket marketplace SeatGeek is no longer going public via a merger with RedBall Acquisition Corp., the blank-check company led by Gerry Cardinale and Billy Beane. The merger was called off hours before a shareholder vote. "The parties decided to terminate the Business Combination Agreement as a result of current unfavorable market conditions, particularly impacting growth technology companies," they said in a statement. Sportico has more here.

Google cofounder Sergey Brin, now worth more than $90 billion, has been working away on a massive new airship that will be the longest to hit the skies in almost a century. The Akron Beacon Journal has more here.

Loom, a venture-backed enterprise collaboration video messaging service, has laid off 34 employees, or 14% of its total staff, sources tell TechCrunch. More here.

A former executive at the NFT startup OpenSea was arrested today and charged “with wire fraud and money laundering in connection with a scheme to commit insider trading,” according to the U.S. Attorney’s Office in the Southern District of New York. The former OpenSea Head of Product, Nate Chastain, was fired from OpenSea after he was accused of front-running purchases of NFT collections that he knew were about to be featured prominently on the homepage of OpenSea. His actions were discovered by other NFT buyers who analyzed his transactions on the Ethereum blockchain. According to a Coindesk report in late March, Chastain subsequently tried raising money for his own startup, Oval, a site and mobile app designed to make it easier for collectors to find NFTs they like. TechCrunch has more here.

Only 15% of general partners at venture firms in Europe are women
A new report from European Women in VC reveals that female GPs also have less carry than their male peers. Sifted has more here.

Elon Musk has told Tesla employees to come back into their respective offices full time or leave the company. Musk said in two separate emails that people must show up for at least 40 hours per week in a main Tesla office or "we will assume you have resigned." Anyone, he added, "who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla,” Musk said in the first email, according to Electrek. “This is less than we ask of factory workers.”

“Buy now, pay later” companies promised a credit revolution that would change the way people pay for things. But surprise: rising delinquencies and a slowing economy are clouding that outlook, observes the WSJ, and investors, once enamored with businesses like Affirm and Klarna, are backing away.

A new lawsuit reflects the mounting legal headache facing companies, including Amazon and Wells Fargo, that are seeing a flurry of complaints being filed by workers looking to recoup expenses for expenses they paid for while working from home during the pandemic. More here.

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