Silicon Valley Funding News - Week of June 22 2020. Orcabio Raised $192M Series D

2020 is the year of crisis, chaos, and confusion.

The world is drowning in the fight against the COVID-19 crisis, suffocating from racial injustice and protests, and hurting from the economic downturn. We normally look for governments to provide structure, unfortunately, we are seeing politics adding confusion to this equation.

Jim Coulter, co-CEO of TPG summed it up best in his Bloomberg talk this past week, the US has officially entered the period of a wartime economy.

Implications of a wartime economy mean: 

• This fight will go on much longer than we anticipated 
• Wartime creates major winners and losers among many sectors 
• Government becomes a much bigger actor in the economy
• Quarantine is a form of mobilization
• War is often followed by a recession
• War drives substantial societal and industrial change 

In the short term, 2020 is confusing. In the long run, this crisis will create the biggest opportunities for companies with strong leadership and adaptability.  In Chinese, the word crisis is composed of two characters -危機.  危 represents danger and 機 means opportunity.

As my partner, Alfred Chuang wrote in his opinion piece on Techcrunch - this storm shall pass. However, the choices we make today will change our lives forever. We believe technology innovation with sound business leadership will drive major societal change.  

We are hopeful.

This week a total of 22 startups raised $535.3M in funding, 1 M&As:

• $103.8M goes to 10 Enterprise startups
• $94.6M goes to 4 FinTech startups
• $1.6M goes to 1 Robotics startup
• $1M goes to 1 Hospitality startup
• $9.3M goes to 2 Food Delivery startups
• $19M goes to 1 Ecommerce startup
• $39M goes to 1 Healthcare startup
• $267M goes to 2 BioTech startups