Intel's new game plan, Facebook's Clubhouse copycat, and friction in Austin

March 23, 2021
Top News
 
U.S. stocks edged down today as investors digested testimony by Federal Reserve Chairman Jerome Powell about the U.S. economy.
 
Intel's new CEO, Pat Gelsinger, said today he is fast-tracking efforts to revive the semiconductor giant with a plan that will rely more heavily on third-party chip-making partners, as well as on spending $20 billion on new factories that could help address a chip shortage.
Sponsored By ...
 
Pilot, a San Francisco-based startup, raised a $60 million Series C from Sequoia Capital to help founders get their finances right. Get the financial expertise to grow with Pilot bookkeeping, tax, and CFO services. StrictlyVC readers get 20% off their first 6 months of bookkeeping.
Massive Fundings
 
Airwallex, a six-year-old, Melbourne, Australia-based cross-border online payment startup, has raised $100 million in extended Series D funding led by Greenoaks, with participation from Grok Ventures and returning investors Skip Capital and ANZi Ventures. This latest extension brings Airwallex’s Series D round to $300 million and its total funding $500 million. It also brings the company's post-money valuation to $2.6 billion. TechCrunch has more here.
 
Eat Just, the nine-year-old, San Francisco-based purveyor of eggless eggs and mayonnaise that was formerly called Hampton Creek, has raised $200 million in new funding led by the Qatar Investment Authority, the sovereign wealth fund of the state of Qatar, with additional participation from Charlesbank Capital Partners and Vulcan Capital. The company, which has had more public ups and downs than most, has now raised $650 million altogether. TechCrunch has more here.
 
EpimAb Therapeutics, a six-year-old, Shanghai, China-based developer of bispecific antibodies, has raised $120 million in Series C funding co-led by China Merchants Bank International and Mirae Asset Financial Group. They were joined by a long list of new and earlier backers. FierceBiotech has more here.
 
Evidation Health, a nine-year-old, San Mateo, Ca.-based health data analytics platform, raised $153 million in Series E funding. OMERS Growth Equity and Kaiser Permanente Group co-led the round, joined by earlier backers McKesson Ventures and B Capital Group. More here.
 
Freetradefive-year-old, London-based startup whose stock trading app has reportedly garnered 600,000 users in the U.K., just raised $69 million in Series B funding led by Left Lane Capital. L Catterton and earlier investor Draper Esprit also participated in the round. TechCrunch has more here.
 
GoPuff, a nearly eight-year-old, Philadelphia, Pa.-based delivery platform for everyday items that relies on roughly 10,000 on-demand drivers who pick up the goods from hundreds of small fulfillment centers in urban areas, raised $1.15 billion led by earlier backer D1 Capital Partners. Other investors in the round, which values the company at $8.9 billion, include Fidelity, Baillie Gifford, Reinvent Capital, Luxor Capital and SoftBank Vision Fund. TechCrunch has more here.
 
Lattice, a six-year-old, San Francisco-based startup that make software for human resources departments, is raising $60 million at a $1 billion valuation in a funding round led by Tiger Global Management, reports Bloomberg. (That's up from $450 million last year.) Earlier investors Thrive Capital, Shasta Ventures, Founders Fund, Frontline Ventures, Fuel Capital and Khosla Ventures also participated in the new round. More here.
 
Orca Security, a two-year-old, L.A.-based cloud security company, has raised $210 million in Series C funding at a $1.2 billion valuation co-led by CapitalG and Redpoint Ventures. TechCrunch has more here.
 
Big-But-Not-Crazy-Big Fundings
 
DexCare, a five-year-old, Renton, Wa.-based platform-as-a-service focused on managing health system capacity and demand, has raised $20 million led by Define Ventures, with participation from Frist Cressey Ventures, Kaiser Permanente Ventures, SpringRock Ventures and Providence Ventures.  (Providence, the health care system, helped start the company.) GeekWire has more here.
 
Meatable, a three-year-old, Delft, South Holland-based cultured meat startup that says it can grow meat from a single cell quickly, has raised $47 million in Series A funding from Section 32, DSM Venturing; earlier backers BlueYard Capital, Agronomics, and Humboldt; and numerous individual investors. Altogether, the company has raised $60 million so far. TechCrunch has more here.

MedMinder Systems, a 14-year-old, Newton, Ma.-based maker of automatic pill dispensers, has raised $40 million led by the private equity firm Accelmed. More here.
 
Public App, a two-year-old, India-based, location-based social network that connects individuals to people in their vicinity and says it already has more than 50 million users, has raised $41 million in a new round, just six months after securing $35 million. A91 Partners led the new round at a post-money valuation of $250 million. The startup's investors include Lee Fixel’s Addition, SIG, and Tanglin Venture Partners. TechCrunch has more here.
 
TryNow, a three-year-old, San Francisco-based startup whose tech -- which is sold to online retailers on Shopify -- allows customers to more easily receive and try out goods, then return what they don't want, raised $12 million in Series A funding from Shine Capital, Craft Ventures, SciFi VC, Third Kind and Plaid co-founders Zachary Perret and William Hockey. TechCrunch has more here.
 
Vórtx, a six-year-old, Sao Paulo, Brazil-based maker of infrastructure software to support a variety of back-end services for financial services outfits, has raised $35 million in Series B funding led by FTV Capital. More here.
 
XyloCor Therapeutics, a Malvern, Pa.-based developer of gene therapies for advanced coronary artery disease, has raised $22.6 million in extended Series A funding that brings the round total to $41.9 million. Fountain Healthcare Partners led the round, joined by Longwood Fund, Lumira Ventures and earlier backers Sofinnova Investments and LSP. FierceBiotech has more here.
 
Smaller Fundings
 
Afriex, a two-year-old, Oakland, Ca.-based payments and remittances platform, has raised $1.2 million in seed funding led by Launch Africa. TechCrunch has more here.
 
Blippar, a nearly 10-year-old, London-based augmented reality company whose early investors pulled out for a variety of reasons, pretty much leaving the company for dead, has closed a $5 million funding round after 18 months of restructuring and repositioning itself as a B2B company. The fresh round of funding was co-led by Chroma Ventures and West Coast Capital. TechCrunch has more here.
 
CommSafe AI, a six-year-old, San Diego, Ca.-based SaaS startup focused on workplace conflict and violence prevention (its software analyzes employee communications and uses algorithms to identify and flag toxic communications), has raised $1.8 million from backers like Blu Venture Investors. More here.
 
Counterpart, a two-year-old, L.A.-based management liability insurance startup, has raised $10 million led by Valor Equity Partners, with participation from Susa Ventures and Felicis Ventures. TechCrunch has more here.
 
Language I/O, a six-year-old, Cheyenne, Wy.-based software development company whose products allow clients to provide multilingual customer support to their customers, has raised $5 million in Series A funding. Gutbrain Ventures and PBJ Capital co-led the round, joined by Omega Venture Partners, earlier backer Golden Seeds, and numerous individual investors. More here.
 
LGN, a three-year-old, London-based startup that says it helps companies deploy AI at scale, has $2 million from Trucks VC, Luminous Ventures and Jaguar Land Rover. VentureBeat has more here.
 
Podsights, a three-year-old, Newark, N.J.-based platform that helps brands and agencies measure and scale their podcast advertising, has raised $4 million in seed funding led by Newark Venture Partners, with participation from Graham Holdings, Aglaé Ventures, and earlier investors Greycroft, Supernode Global, BDMI, and Betaworks. More here.
 
Sellforte, a four-year-old, Espoo, Finland-based marketing optimization platform for B2C companies, has raised €4 million. Sonae IM led the round, joined by Bonnier Ventures and Icebreaker.vc. VentureBeat has more here.
New Funds
 
Aldea Ventures, a year-old, Barcelona, Spain-based pan-European venture firm that makes both direct investments and invests in other venture firms, has held a close on €60 million in capital commitments for its debut fund, which is targeting €100 million, says TechCrunch. More here.
 
Bedrock, a 3.5-year-old, New York-based venture firm that was cofounded by Geoff Lewis, who began his investing career with Founders Fund, and Eric Stromberg (one of his companies was acquired by Google), has raised $350 million in capital commitments for a third fund, Lewis tweeted yesterday. The outfit closed its second fund with $350 million in 2019; Lewis says the firm is now managing roughly $1 billion in assets altogether. More here.
 
Bowery Capital, an eight-year-old, New York-based venture firm, has raised $70 million for its third fund, reports Forbes. The firm closed its second fund with $60 million in 2016. More here.
 
Visionary Ventures, a five-year-old, Aliso Viejo, Ca.-based venture firm that looks to invest in ophthalmic pharmaceuticals and medical devices and is relatedly backed by individuals and outfits in the ophthalmology and optometry industries, has closed its second fund with $114 million in capital commitments. More here.
Exits
 
Twitter today is announcing an acquihire of the API integration platform Reshuffle. The five-year-old, Sunnyvale, Ca.-based bootstrapped startup's commercial technology -- which allows developers to build workflows and connect systems using any API -- will be wound down as a result of Twitter’s deal, and Reshuffle’s seven-person team will be become employees of the social media giant. TechCrunch has more here.
 
ServiceNow announced today that it is acquiring Intellibot, a robotic process automation (RPA) company in Hyderabad, India. Terms of the deal aren't being disclosed, but the purchase comes at a time where companies are looking to automate workflows across the organization, notes TechCrunch. For ServiceNow, the deal is one in a long string; it has also acquired five other companies over the last 12 months or so. More here.
Going Public
 
Robinhood, the popular trading app, has filed confidentially for an IPO with the SEC,  Bloomberg reported earlier today.
 
TuSimple, the six-year-old, San Diego-based self-driving truck company backed by a diverse group of strategic investors, including Volkswagen’s heavy-truck business and freight company U.S. Xpress, has registered plans for an IPO, bucking the recent trend of similar startups to merge with blank-check companies. TuSimple has raised $650 million from private investors to date. The number of shares to be offered and the price range for the proposed offering have not yet been determined, according to its regulatory filing. TechCrunch has more here.
People
 
Prince Harry has a new job. The Duke of Sussex has been named the chief impact officer of BetterUp, a coaching and mental health firm, telling the WSJ of the role, "I intend to help create impact in people’s lives."
 
Kevin Jacques has stepped down as head of Visa Ventures to join Cota Capital as a partner, reports Axios. More here.
 
Neil Kapur , a principal with B Capital Group for nearly four years and a Google employee focused on business development before that, has joined Atlanta-based TTV Capital as a partner. Kapur was, and remains, based in San Francisco. More here.
 
In new lawsuit, former Parler CEO John Matze is charging conservative financier Rebekah Mercer of plotting to force him out as CEO in order to "steal" his 40% stake, following the Capitol riot on Jan. 6. "This scheme is epitomized by oppression, fraud, and malice, for which Matze is entitled to punitive damages trebling (at a minimum) the millions that he is owed in compensatory damages," the complaint reads. Protocol has the story here
 
Spencer Peterson, who joined Bedrock Capital as a principal in 2019 after spending several years collectively at Sound Ventures and Insight Venture Partners, has been promoted to partner at the firm. More here.
 
Adam Selipsky is becoming the new head of Amazon Web Services. Selipsky was vice president for sales, marketing and support at Amazon before leaving to run then-public Tableau in 2016. Salesforce bought Tableau for $15.7 billion in 2019; Selipsky, who has remained on as chief of that unit, will now return to the company, freeing Andy Jassy, the current CEO of AWS, to replace Jeff Bezos as CEO of Amazon later this year as was previously announced would happen.
 
Loren Straub has been promoted from principal to general partner at Bowery Capital in New York. Straub joined the firm in 2015. Straub previously spent nearly three years with Goldman Sachs and, before that, more than two years with Groupon. She is based in San Francisco.
Jobs
 
Eniac Ventures, a seed-stage venture firm with offices in San Francisco and New York, is looking to bring aboard an analyst
Sponsored By . . . 
 
Nightfall unlocks growth for startups by securing sensitive data across cloud apps like Slack, GitHub, and Google Drive. Traditional data security solutions are painful to implement, require heavy overhead, and are inaccurate. Nightfall customers like Amount, Sisense, and Acquia are up and running in minutes, with our library of machine learning trained detectors to protect data like PII, and our developer-centric platform to configure content inspection as code. StrictlyVC readers receive 25% off their first year - schedule a demo today.
Essential Reads
 
Are electric cars really better for the environment? 
 
Facebook's Clubhouse rival looks a lot like Clubhouse
 
Facebook’s bullying and harassment policy explicitly allows for “public figures” to be targeted in ways otherwise banned on the site, including “calls for [their] death," according to internal moderator guidelines leaked to the Guardian.
 
Y Combinator’s latest batch features 350 startups and half of them -- the highest percentage to date -- based outside of the United States. (More YC coverage here and here.)
Detours
 
They just moved into an Austin neighborhood; now they want to end one of its traditions.
 
"My Girlfriend's Boyfriend." Not new, but *so* good.
 
The Falcon's GoFundMe page.
 
Those are definitely shrimp tails.
Retail Therapy
 
Neurosity Crown. We're wearing one now! (We're not. We maybe should be.)
Sponsored By ...
 
Shareworks by Morgan Stanley. Curious about the evolution of private company structured equity and option lending? Join us for our next Liquidity Virtual Series session and hear from industry thought leaders, as they explore why more shareholders are turning toward option lending as a means to gain liquidity and what the potential challenges are. Visit the Shareworks by Morgan Stanley website to learn more and register. Shareworks by Morgan Stanley services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, all wholly owned subsidiaries of Morgan Stanley. CRC 3468095 03/2021
Subscribe!

StrictlyVC

StrictlyVC, LLC, 1 Blackfield Drive, No. 239, Tiburon, CA 94920

Unsubscribe - Unsubscribe Preferences

Older messages

Discord explores a sale, Coinbase pushes out its listing, and Jack Dorsey has sold a digital certificate of that first tweet

Tuesday, March 23, 2021

The news you need to know March 22, 2021 Hello! Quick mention: On Friday, we didn't grab the full link to our podcast interview with Blackstone Growth's global chief Jon Korngold, which is why

A Bumble bonanza, Didi Chuxing zooms toward an IPO, and all the VC-backed deals to get SPAC'd this year

Saturday, March 20, 2021

The news you need to know March 19, 2021 Hope you have a terrific weekend, all.:) If you're looking for a peek into into one of the biggest investment firms in the world, check out this week's

Beeple buyers, an Instagram for kids, and uBiome's founders were just charged with fraud

Friday, March 19, 2021

The news you need to know March 18, 2021 Hello.:) Top News Google's plan to block web-tracking cookies is a source of concern for US Justice Department investigators who have been asking

Snap's new deal, a Substack backlash, and please don't squeeze the NFT(TP)

Thursday, March 18, 2021

The news you need to know March 17, 2021 Happy St. Patrick's Day.:) Top News The Biden administration said today that it has served subpoenas on multiple Chinese companies to seek information on

Uber caves in the U.K., Musk changes his mind, and Dutchie lights it up

Wednesday, March 17, 2021

The news you need to know March 16, 2021 Top News Google is reducing the commission it charges developers that sell digital goods and services through its Play store, a move that comes amid increased

You Might Also Like

Addressing my Weaknesses — The Bootstrapped Founder 307

Friday, March 29, 2024

I'm a pretty okay developer, but when it comes to marketing and sales, I really need help. And for the longest time, I've held myself back. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Growth Newsletter #167

Friday, March 29, 2024

Wallet Opening Words that increase conversions ‌ ‌ ‌ Demand Curve Read on demandcurve.com The Growth Newsletter #167 Wallet Opening Words that increase conversions Copywriting is one of the most

The maturation of Munich

Friday, March 29, 2024

Does Europe need the "next Silicon Valley"? The frantic search for buried hydrogen and a big raise for industrial automation. View in browser Morgan Stanley flagship logo Good morning there,

Inside Grindr's plan to squeeze its users

Friday, March 29, 2024

The company's bet on AI boyfriends and other paywalled features is making some employees nervous Platformer Platformer Inside Grindr's plan to squeeze its users By Zoë Schiffer • 28 Mar 2024

Inside Grindr's plan to squeeze its users

Friday, March 29, 2024

The company's bet on AI boyfriends and other paywalled features is making some employees nervous Platformer Platformer Inside Grindr's plan to squeeze its users By Zoë Schiffer • 28 Mar 2024

SaaSHub Weekly - Mar 28

Thursday, March 28, 2024

SaaSHub Weekly - Mar 28 Featured and useful products Loach logo Loach Say goodbye to unachieved OKRs with Loach, an OKR management solution that empowers your team to seamlessly align their daily work

84 new Shopify apps for you 🌟

Thursday, March 28, 2024

New Shopify apps hand-picked for you 🙌 Week 12 Mar 18, 2024 - Mar 25, 2024 New Shopify apps hand-picked for you 🙌 What's New at Shopify? 🌱 New login requirements for the Order Status Page Changed ⸱

We've Been Tinkering

Thursday, March 28, 2024

Join Our Beta! ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

AMA with Chiedo John, Director of Growth @ GitHub

Thursday, March 28, 2024

Live on Wednesday, April 3rd, starting at 9 AM PST͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

red hot startup intel

Thursday, March 28, 2024

FULL SWOT analysis on Ramp, Databricks, Cohere, Devoted Health, and Coalition inside Scouting Reports on 🔥 Startups Download Now Hi there, Psst. Want competitive intel on the top 5 industry leading