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Top News
Apple is preparing to announce a shift to its own main processors in Mac computers, replacing chips from Intel as early as this month at its annual developer conference, according to Bloomberg's sources. It would be a major shift; Apple has been using Intel chips in Macs since 2006, when it moved away from PowerPC processors.
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This Startup is Tackling Women's Bladder Leakage with Grace -- and a Subscription Approach
No one likes to talk about urinary incontinence, but the loss of bladder control is something that impacts millions of people around the globe. Women are especially prone to developing related issues because of pregnancies, childbirth, and menopause, all of which can affect the urinary tract and the muscles that support it. According to a 2018 University of Michigan poll of 1,000 women ages 50 to 80, nearly half said that they sometimes leak urine. Meanwhile, an estimated 20% to 30% of younger women experience leakage at least once per year.
Unsurprisingly, the market for disposable incontinence products is sizable. A $9.5 billion market as of 2018, it is projected to reach $15 billion by 2025, and it will presumably only grow from there, given that Americans ages 65 and older are projected to nearly double in number from 52 million in 2018 to 95 million by 2060.
More shocking is how limited and clunky offerings in the space remain — the best known of these being Kimberly-Clark’s Depend undergarments. It’s precisely the opportunity to update the industry that married cofounders Alex Fennell and Mia Abbruzzese are chasing with their new startup, Attn:Grace. It’s a direct-to-consumer startup that just today began selling a selection pads, briefs, liners, and wipes that are more elegantly packaged.
Its genesis ties to Abbruzzese’s own chic, Whole Foods-shopping, salon-going, 90-year-old mother.
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Massive Fundings
Eswin, a four-year-old, Beijing, China-based chipmaking startup, has raised $283 million in Series B funding. Legend Capital and IDG Capital co-led the round, joined by Riverhead Capital Investment Management, Lighthouse Capital, Haining City and Zhejiang Province. TechCrunch has more here.
DNAnexus, an 11-year-old, Mountain View, Ca.-based provider of biomedical informatics and data management, has raised $100 million in Series G funding. Perceptive Advisors and Northpond Ventures co-led the round, joined by earlier backers GV, Foresite Capital, TPG Capital, and First Round Capital. TechCrunch has more here.
jSonar, a seven-year-old, Waltham, Ma.-based database security startup, has raised $50 million led by Goldman Sachs. VentureBeat has more here.
PatientPing, a seven-year-old, Boston-based healthcare e-notifications platform, raised $60 million in Series C funding from Andreessen Horowitz, F-Prime Capital, GV, and Transformation Capital. The company has now raised more than $100 million altogether. More here.
Big-But-Not-Crazy-Big Fundings
ADDI, a two-year-old, Bogota-based provider of point-of-sale lending for Latin America, raised $15 million in a Series A extension. Quona Capital led the round, joined by S7 Ventures, Foundation Capital and DST partner Tom Stafford, along with earlier investors Andreessen Horowitz and Monashees. The company has now raised $31 million altogether. More here.
C2i Genomics, a year-old, New York-based liquid biopsy startup, has raised $12 million in Series A funding. Casdin Capital led the round, joined by NFX and The Mark Foundation for Cancer Research. More here.
Concourse Labs, a three-year-old, New York-based company that's developing an automated cloud governance platform, raised $15.2 million in Series A funding. ForgePoint Capital led the round, joined by earlier backers 83North and Capri Ventures. VentureBeat has more here.
HistoSonics, an 11-year-old, Ann Arbor, Mi.- and Minneapolis, Mn.-based developer of a robotic platform and sonic beam therapy, has raised $40 million inn Series C1 funding. Yonjin Venture led the round, joined by Varian Medical Systems, Johnson & Johnson Innovation, Venture Investors, Lumira Ventures, and the State of Wisconsin Investment Board. Crunchbase News has more here.
NFlection Therapeutics, a six-year-old, Wayne, Pa.-based biopharma targeting disease pathways to fight rare disease, has raised $20 million in Series A funding from venBio Partners and F-Prime Capital. More here.
NYMBUS, a 13-year-old, Miami, Fla.-based financial services platform that helps financial institutions set up a separate digital bank, has raised $12 million in funding led by Insight Partners and Vensure Enterprises. More here.
Propzy, a five-year-old, Vietnam-based offline-to-online real estate platform, has raised $25 million in Series A funding. Gaw Capital and SoftBank Ventures Asia co-led the round, joined by Next Billion Ventures, RHL Ventures, Breeze, FEBE Ventures, RSquare, and Insignia. TechCrunch has more here.
Stirista, an 11-year-old, San Antonio, Tex.-based data driven marketing company, has raised $13 million led by Wavecrest Growth Partners. VentureBeat has more here.
Smaller Fundings
Ambler, a two-year-old, Paris-based mobility startup focused on helping health institutions with. non-emergency patient pick-up, has raised €6 million ($6.8 million) in funding, including from Bpifrance, Idinvest Partners, Partech and Kima Ventures. Tech.eu has more here.
Grow Credit, a 20-month-old, Santa Monica, Ca.-based startup that provides small-dollar loans to customers that it uses to manage subscription payments (like to Netflix), later reporting those loans balances to the credit bureaus to help its customers improve their credit scores, just added Mucker Labs as an investor. The company has now closed its seed round with $2 million in commitments. TechCrunch has more here.
Pando, a three-year-old, San Francisco-based tech company that says it can offer career protection to people in high volatility careers by allowing them to pool their risk, has raised $8 million in Series A funding. The round was led by Core Innovation Capital and included participation from Pear VC, Avalon Ventures, Ulu Ventures, Nimble Ventures, Stanford StartX Fund, WTI and Slow VC. More here.
Reveal, a 1.5-year-old, Woodside, Ca.-based startup whose national security-focused tech provides real-time 2D and 3D mapping, automated decision-making tools, and instant situational awareness from a hand-held device, has raised $2.5 million in seed funding led by Defy Partners and 8VC. More here.
Whatifi, a year-old, L.A.-based interactive movie maker, raised $10 million in funding led by Andreessen Horowitz. Other participants in the round include Matrix Partners, David Wells (ex-CFO of Netflix), Ilkka Paananen (Supercell), and Max Levchin (Paypal, Affirm), among others. The Hollywood Reporter has more here.
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New Funds
500 Startups Korea, founded five years ago, has raised at least $23.8 million in capital commitments for its second fund. from nine investors, shows a new SEC filing. More here.
Collab Capital, an Atlanta-based firm formed to focus on startups led by black founders, is looking to raise $50 million for its debut fund, reports TechCrunch, which says it so far secured $2 million. Managing partners Jewel Burks, Justin Dawkins, and Barry Givens have all founded companies previously. More here.
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IPOs
Speak of the devil: Snowflake, an eight-year-old, San Mateo, Ca.-based cloud data platform that was valued at $12.4 billion in a February funding round, has confidentially filed initial public offering paperwork with the SEC, according to Bloomberg. More here.
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People
Jack Dorsey, CEO of Twitter and Square CEO, tweeted today that both companies will honor Juneteenth as a company holiday in the U.S., as tech companies step up their effort to support and honor the culture of blacks. “We will do the work to make those dates company holidays everywhere we are present,” he wrote. CNBC has more here.
CrossFit CEO Greg Glassman is out at the fitness company he cofounded after he tweeted about the death of George Floyd at the hands of Minneapolis police. "I created a rift in the CrossFit community and unintentionally hurt many of its members," Glassman said in a statement today.
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Layoffs
SoftBank Group’s Vision Fund is preparing to cut to staff by about 15%, after reporting record losses for the last fiscal year, according to LiveMint. Rajeev Misra, head of the London-based Vision Fund, has expanded the number of planned cuts in recent days to as many as 80 employees out of roughly 500, said one of its sources, who asked not to be identified discussing personnel decisions. The fund had planned to cut about 10% of its workforce as of last month, according to Bloomberg. More here.
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Essential Reads
“You have no choice but to sign up, but there is no negotiating," says restaurateur Matt Majesky of delivery apps like Grubhub, which took more 40 percent from the average take-out order from his newly shuttered restaurant. "It almost turns into a hostage situation.”
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