|
September 28, 2020
Monday! (Just barely.) Hope you enjoyed yours.:)
|
|
Top News
The federal judge who stopped the Trump administration’s download ban on TikTok determined that the government likely overstepped its authority, according to his decision made public today. As part of his 18-page ruling, Judge Carl Nichols -- who joined the bench after being nominated by Donald Trump last year -- wrote that the government “provided ample evidence that China presents a significant national security threat.” But evidence for the threat posed by TikTok and the need for a ban “remains less substantial.” The WSJ has more here.
|
|
Sponsored By ...
StrictlyVC subscribers are exclusively invited to activate a complimentary 3-month membership to FoundersCard. FoundersCard is a membership community of over 30,000 entrepreneurs and business leaders that provides exclusive access to over 500 premier business, lifestyle, and travel brands.
|
|
Massive Fundings
Biocytogen, a 10-year-old, Beijing-based contract research organization that's focused on gene-targeted animal models, has raised $142 million in Series D funding. CMB International led the round (it also led the company's $65 million Series C in 2018). It was joined by PICC Capital, SDIC Ventures, China Life Equity, 3E Bioventures, Cowin Capital, and Baidu Capital. DealStreetAsia has more here.
Exotec, a five-year-old, Paris-based maker of warehouse robots and related logistics software, has raised a $90 million Series C round led by 83North, with earlier investors Iris Capital and Breega also participating. TechCrunch has more here.
Galecto, a nine-year-old, Copenhagen, Denmark-based biotech focused on cancer and fibrosis, has raised $64 million. Soleus Capital and Eir Ventures co-led the round, joined by Cormorant Asset Management, Janus Handerson, Hadean Ventures, Sphera, Asymmetry Capital Management, Canica, and earlier backers OrbiMed, Ysios Capital, Novo Holdings, HBM Healthcare Investments, Sunstone Capital, Bristol Myers Squibb, Seventure, and Maverick Ventures. FierceBiotech has more here.
Mosa Meat, a seven-year-old, Netherlands-based company that's developing cell-cultured beef products, has raised $55 million in Series B funding. Blue Horizon Ventures led the round, joined by Bell Food Group and M Ventures. The Spoon has more here.
ShipBob, a six-year-old, Chicago-based e-commerce fulfillment startup, has raised $68 million in Series D funding. SoftBank Vision Fund led the round, joined by earlier investors Menlo Ventures, Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels, and Y Combinator. The Chicago Tribune has more here.
XtalPi, a six-year-old American-Chinese biotech firm that focuses on AI-assisted drug discovery, has raised a $319 million Series C round led by SoftBank’s Vision Fund. Other investors in the round include PICC Capital, Morningside and earlier investors Tencent, Sequoia Capital China, China Life, and SIG. TechCrunch has more here.
Big-But-Not-Crazy-Big Fundings
Acin, a 10-year-old, London-based data management company that serves financial institutions, has raised $12 million in Series A funding led by Notion Capital, with participation from Fitch Ventures and numerous individual investors. More here.
BukuWarung, a roughly year-old, Jakarta, Indonesia-based financial tech startup that serves small businesses in the country, has raised between $10 million and $15 million in funding from DST Global, Soma Capital and 20VC, reports TechCrunch. Numerous high-profile angel investors also joined the round, including Plaid cofounder William Hockey. TechCrunch has more here.
Humane, a nearly two-year-old, Bay Area-based stealthy consumer tech startup founded by two former directors at Apple, has raised $30 million in Series A funding. Sam Altman and Lachy Groom co-led the round, joined by Marc Benioff, Valia Ventures, Plexo Capital, and Kindred Ventures. Fast Company has more here.
IONpath, a six-year-old, Menlo Park, Ca.-based developer of spatial proteomics, has raised $18 million in Series B funding. Samsara BioCapital led the round, joined by Bruker Corp and earlier backers Genoa Ventures, ND Capital, Paladin Partners Investments, Norwich Ventures, and Vertical Venture Partners. More here.
Noyo, a three-year-old, Bay Area-based API platform that aims to improve the speed and accuracy of health insurance data exchanges, has raised $12.5 million in Series A funding from Costanoa Ventures and Spark Capital, with participation from early investors including Homebrew, Fika Ventures, Precursor Ventures, Core Innovation Capital, Garuda Ventures and Webb Investment Network. TechCrunch has more here.
NtechLab, a five-year-old, Russia-based startup that helps analyze footage captured by Moscow’s 100,000 surveillance cameras, just closed an investment of more than 1RUB billion ($13 million) financed by Russia’s sovereign wealth fund, the Russian Direct Investment Fund, and an undisclosed sovereign wealth fund from the Middle East, says the company. TechCrunch has more here.
PayMongo, a 1.5-year-old, Manila, Philippines-based online payment platform for regional businesses, has raised $12 million in Series A funding led by Stripe, with participation from Bedrock Capital and earlier backers Global Founders Capital and Y Combinator. TechCrunch has more here.
Smaller Fundings
HAGs, a six-month-old, New York-based social network focused on high school students, has raised $1 million in seed funding led by GV, with participation from BoxGroup and a handful of angel investors. TechCrunch has more here.
|
|
New Funds
Highland Europe, the eight-year-old, London-based growth investor that collaborates closely with the U.S. firm Highland Capital Partners, is seeking around €600 million for its Highland Europe Technology Growth Fund IV, shows a regulatory filing. The firm's previous fund closed in 2018 with €463 million in capital commitments. It typically invests €10 million to €50 million in companies. Private Equity News has more here.
NewView Capital, the two-year-old, Burlingame, Ca.-based growth-stage venture fund that spun out of NEA originally and is headed up by former NEA general partner Ravi Viswanathan, is looking to raise up to $350 million for its newest fund, shows a new SEC filing. We talked with Viswanathan back in March, just after COVID-19 began forcing businesses in the U.S. to shut down. More here.
|
|
IPOs
Aligos Therapeutics, a two-year-old, South San Francisco-based biotech in the midst of early work on a functional cure for chronic hepatitis B virus as well as COVID-19, has filed for a $100 million IPO. The pre-revenue company has raised around $170 million in funding to date, including from Roche, Versant Ventures, and Vivo Capital. FierceBiotech has more here.
Eargo, a 10-year-old, San Jose, Ca.-based company that sells direct to consumers its lineup of rechargeable in-the-canal (ITC) hearing aids, has filed for a $100 IPO. Its biggest outside backers include NEA, Gilde Healthcare, and Future Fund. Renaissance Capital has a bit more here.
Cybersecurity software maker McAfee Corp. has filed to go public. The San Jose, Ca.-based company -- which is owned by TPG, Thoma Bravo, and Intel -- listed the size of the offering as $100 million in a SEC filing today, though the amount is likely a placeholder amount that will change. Bloomberg has more here.
10X Capital Venture Acquisition, a tech-focused SPAC sponsored by 10X Capital, filed for a $220 million IPO. Renaissance Capital has more here.
Altitude Acquisition, a travel industry-focused SPAC, filed for a $300 million IPO. Renaissance Capital has more here.
Despite Nikola's troubles, another Texas-based truck electrification business is poised to go public via a SPAC, and both the SPAC's sponsors, and the 28-year-old founder of the target compay, Hyliion, could cash out massively. Bloomberg has more here.
Supernova Partners Acquisition, a SPAC whose leaders include ex-Zillow CEO Spencer Rascoff, plans to raise $300 million in an IPO on Friday. Benzinga has more here.
|
|
People
Brex founders Henrique Dubugras and Pedro Franceschi have found themselves part of a lawsuit involving a Manhattan penthouse where they are reportedly residents and from which a wooden lounge chair flew off in a gust of wind in January, striking a 23-year-old Brown University graduate who was walking to a lunch date and who has endured three brain surgeries since. The young woman, who was slated to get her master's degree from Harvard this fall, is also suing the building's owner and its management company, reports the New York Post.
Nikola founder Trevor Milton has been accused by a second woman of sexual assault. The woman used to be Milton’s work assistant and was 15-years-old at the time of the alleged attack, which she says occurred in Utah, when he was 22. Milton -- who was last week forced out of his electric-truck company after claims of deception leveled by short seller Hindenburg Research sent Nikola’s stock spiraling -- was accused of sexual assault over the weekend by his first cousin, Aubrey Smith, who says in 1999 when she was 15 and he was 17 that he groped her after a family funeral. He has denied the allegations against him. Bloomberg and CNBC have more here and here.
|
|
Data
Around a quarter of U.S. adults, or roughly 26%, say they get news by watching YouTube videos, according to a new study from Pew Research Center, which examined the Google-owned video platform’s growing influence over news distribution in the U.S., as well as its consumption. The study further reinforced that established news organization no longer have full control over the news Americans watch. TechCrunch has more here.
|
|
Sponsored By ...
Consumer spending is shifting, creating uncertainty for investors. Second Measure’s transaction data provides real-time insight into company performance and consumer behavior. See how investors can leverage this data to understand the changing landscape. Download the white paper.
|
|
Retail Therapy
“My Heart That Blooms in The Darkness of The Night.”
|
StrictlyVC StrictlyVC, LLC, 1 Blackfield Drive, No. 239, Tiburon, CA 94920 Unsubscribe - Unsubscribe Preferences |
|
|
|
|
|
