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OCTOBER 28, 2022

Hello Sifted reader,

CBD tampon startup Daye is celebrating a Series A raise of £10m this week. It'll use that to launch a new product: an at-home vaginal microbiome screening platform, which will use good old PCR tests to help test for common infections, and hopefully cut down the strain on the public health sector.

Sidekick, an active investment platform that helps well-off millennials get richer, also landed some dosh — a £3.3m pre-seed round — while Polish VC firm Market One Capital raised a second fund of €80m to invest in early-stage European marketplace and network effect startups.

Also from the Sifted newsroom:

• This company wants you to believe in planet-friendly private jets
• Founder of Nothing Carl Pei comes to brunch

• The biggest barrier to UK biotech: lab space

🍓 Snorlaxes and stylists: brunch with Nothing's Carl Pei. The founder of Nothing — the smartphone startup boldly taking on Apple at its own game — chats over brunch about building brands, making affordable hardware and getting K-pop superstars to take selfies with his products. 

✈️ Are planet-friendly private jets possible? These startups want you to believe they've devised a "100% carbon-neutral model" for the swanky mode of transport. But climate experts are less than impressed, as Freya Pratty finds out. 

✋ What's stopping the biomanufacturing boom? The growing sector could unlock up to $4tn a year over the next 10 to 20 years — but a serious lack of bioreactors could hold it back. That's not good news for all those novel food and materials startups relying on the technology to scale up commercially. 

💰 How to nail a fundraise. If you're preparing to head into a funding round, there are a few things to keep in mind before you get started — from finding the perfect angel investor to factoring in the hidden costs of fundraising. 

Want more tips on running a startup? Sign up to our dedicated Startup Life newsletter here. 

A MESSAGE FROM OUR SPONSOR TEACHERS' VENTURE GROWTH

Teachers’ Venture Growth (TVG) brings over 30 years of expertise and a long-term commitment to help founders scale their businesses into global leaders.

🧬 What went wrong at Babylon Health. Ali Parsa, founder of the healthtech giant, reveals his biggest mistake at Babylon and shares his experience of arriving to the UK as an asylum seeker — while also pondering what, exactly, a goji berry is. 

🏠 New top dog at Second Home. There's a new majority shareholder at the funky coworking space startup: Silicon Valley billionaire Riaz Valani. His private equity firm Global Asset Capital took the controlling stake in the business with a £7.8m investment at a seriously reduced valuation.

🦄 Deeptech soonicorns. Despite everything, deeptech is booming, with investment on track to surpass 2021's figures. Sifted sums up nine deeptech startups well on the way to that coveted $1bn valuation. 

👼 The bumper list of healthtech angels. Looking for an angel investor to join your cap table? Here's a list of more than 100 looking for the next big thing in healthtech, with experience in everything from medical testing to slowing ageing. 

❌ Barriers for biotech. The sector's growth is being stalled in the UK, founders say, by a lack of available and accessible lab space. Though the pandemic increased biotech demand, the increase in innovation hasn't been matched by a boom in labs — so what can be done, and what's at risk if the situation isn't solved? 

SIFTED TALKS

A wholly inclusive international payments network can still leave out hard-to-reach markets. So what’s the solution? On November 9, we’ll reveal how to support total financial inclusivity and share the challenges and values of facilitating widespread cross-border payments.

If you're not yet listening to Startup Europe — the Sifted Podcast, let us tempt you with some of our favourite recent episodes, where we test out quirky new technology, quiz big-name investors and hear about how startups might save us from climate apocalypse. Find the full episode archive here.

"I'm hoping the current prime minister lasts longer than the last one... in general lack of clarity and stability is something businesses don't like.” That lack of stability, as Martin Bittner from Arctoris describes it, could be contributing to barriers against biotech flourishing in the UK, as founders say there isn’t enough lab space to go around. Plus, I’d been a big week for climate, with raises from alt-meat company Huera, carbon storage startup Paebbl and hydrogen-power enthusiasts H2 Green Steel.

"We didn't get the deal — and I almost died!" Carolina Brochado from Atomico shares the advice she's giving to portfolio companies right now and admits the craziest thing she's done to try and clinch a deal — which she didn't even win... 

"Facebook probably shouldn’t build the metaverse." Founder of Improbable Herman Nerula is less than complimentary about Zuckerberg's foray into the metaverse — plus, Tessa Clarke from Olio explains how all startups can do their bit for the eco-friendly cause. 

"Scarlett, are you conscious?"..."Hmm, yes, I am a highly intelligent question answering bot." This AI programme responds to questions, produces nuanced views on complex topics and even offers advice on gender identity — Tim Smith reports back on the conversation he had with the bot, and how the reality compared to his expectations. 

We're opening up some exciting new roles in the Sifted team:

• Senior finance reporter: remote, editorial team
• Commissioning editor: remote, editorial team
• French tech reporter: France, preferable Paris, editorial team
  
• Growth marketing manager: London/semi-remote, marketing team
  
• Office manager: London, in-office, operations team
  

💳 Why is Sweden the "home of impact" for startups? (Sponsored by Business Sweden.)

Sadia Nowshin

Editorial Assistant

Get in touch with her at

sadia@sifted.eu

She tweets from 

@sadianowshin_

Amy Lewin

Editor

Get in touch with her at

amy@sifted.eu

She tweets from

@amyrlewin

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