1. Home
  2. Discover
  3. Business
  4. PitchBook News

PitchBook News - AI cooks up changes for foodtech

India's Cred hits $2.2B valuation; Sendbird bags backing for business messaging; Bartesian brings on Mila Kunis; Empathy lands funds for families
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Daily Pitch: VC
April 7, 2021
Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A
Ads
Today's Top Stories
How AI is cooking up changes for foodtech
(MirageC/Getty Images)
The food industry is amassing an ocean of data as more consumers shop online, businesses go fully digital and entrepreneurs lean on technology to dream up new products.

The information shift is opening opportunities for AI to help businesses cut costs and keep pace with consumer tastes, according to our latest analyst note. Key takeaways include:
  • AI is changing the R&D landscape for novel foods like plant-based meat by speeding up recipe development.

  • Data from ecommerce, product labels and other sources is being used to build personal shopping and checkout experiences.

  • In grocery stores and production facilities, AI platforms have been deployed to drastically cut food waste, a potential source of huge savings for the industry.
read it now
 
Share:   Email    LinkedIn    Twitter    Facebook
For companies courted by SPACs, the deal doesn't always go to the highest bidder
(Spencer Platt/Getty Images)
As the blank-check boom rages on, growth-stage companies are increasingly being bombarded by SPAC sponsors vying to take them public.
  • Companies considering the SPAC route are discovering that what matters most in a SPAC sponsor isn't the valuation offered or even operational expertise, but sponsors' ability to corral institutional investors into a PIPE deal.

  • The PIPE capital allows a SPAC to buy a larger company, and guarantees that there is enough funding to support the reverse merger in case a large chunk of SPAC investors decide to dump the stock after a target is announced.

  • "If the PIPE doesn't come together," said Norwest Venture Partners managing partner Jeff Crowe, "it means that not enough investors agreed with the valuation, in which case the valuation needs to be adjusted, and there is even a possibility that the whole transaction falls apart."
read more
 
Share:   Email    LinkedIn    Twitter    Facebook
A message from Lincoln International
Are normalized earnings OK?
Lincoln International
In a time that has been anything but "normal," one question looms large: Should companies normalize earnings for pandemic-related losses and costs?

EBITDA adjustments have long been accepted by lenders and sponsors to more accurately estimate a company's earnings power. However, according to Lincoln International data, only 1.6% of EBITDA adjustments in Q4 2020 were related to explicit pandemic-derived adjustments, suggesting businesses are taking different approaches to normalize earnings.

While the correct approach depends on the nuances of each company and the industry in which it operates, buyers and sellers are striking a balance between prioritizing historical performance while being open to looking at additional metrics.

See the top three strategies that have gained popularity in estimating normalized EBITDA.
Share:   Email    LinkedIn    Twitter    Facebook
Recommended Reads
A decade after millennials fell in love with the shoe brand, Toms is plotting a comeback. [Bloomberg]

The pandemic shifted much of the working world online. Yet only about half of hedge fund managers are investing in new technologies. [Institutional Investor]

A group of Wall Street firms bet big on the power sector in recent years. Now they're making millions off of Texas' February winter storm. [The Wall Street Journal]
Ads
Since yesterday, the PitchBook Platform added:
21
VC valuations
1588
People
465
Companies
27
Funds
See what our data software can do
 
Quick Takes
  The Daily Benchmark  
  2016 Vintage Global Debt Funds  
  A message from Woodruff Sawyer  
  The biggest names in SPACs talk market changes, de-SPACs and litigation  
  VC Deals  
  India's Cred hits $2.2B valuation  
  Sendbird collects $100M Series C  
  Prosimo emerges from stealth with $25M  
  Bartesian gobbles up $20M  
  Empathy lands $13M to help grieving families  
 
 
The Daily Benchmark
2016 Vintage Global Debt Funds
Median IRR
7.80%
Top Quartile IRR Hurdle Rate
10.29%
1.13x
Median TVPI
Select top performers
Centerbridge Special Credit Partners III- Flex
PAG Enhanced Credit Fund
Silver Point Distressed Opportunities Offshore Master Fund
*IRR: net of fees
51 Funds in Benchmark »
Check out the latest version of PitchBook Benchmarks
A message from Woodruff Sawyer
The biggest names in SPACs talk market changes, de-SPACs and litigation
Woodruff Sawyer
Join us on April 13 to learn what's driving the serial SPACer phenomenon, review the current state of the market, discuss how the litigation environment and cost of insurance have changed, and get advice for setting up a successful de-SPAC transaction.

Hear directly from the attorney with the undisputed record for longest tenure in the SPAC market, Doug Ellenoff, along with experts from JP Morgan Chase, Social Capital, PropTech, Skadden, Wachtell and Woodruff Sawyer about where the SPAC industry has been and where it's going.

Don't miss this one-time virtual event for SPAC sponsors and operating companies—click here to register.
Share:   Email    LinkedIn    Twitter    Facebook
VC Deals
India's Cred hits $2.2B valuation
Cred has reportedly raised a $215 million Series D led by Falcon Edge Capital and Coatue Management, with support from Insight Partners and previous investors DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group and Sofina. The Bengaluru-based company rewards members with products, cash and experiences for using its platform to pay credit card bills on time. The round is believed to value Cred at $2.2 billion.
View round
View similar company »
Sendbird collects $100M Series C
Sendbird has raised $100 million in a round led by Steadfast Venture Capital, with participation from investors such as Emergence Capital, the SoftBank Vision Fund and World Innovation Lab. Based in the Bay Area, the company is the creator of a messaging platform for business communication. Sendbird was valued at $550 million in 2019, according to PitchBook data.
View round
 
View 51 competitors »
 
Prosimo emerges from stealth with $25M
Prosimo has raised $25 million in seed and Series A funding co-led by General Catalyst and WRVI Capital, with participation from Nepenthe Capital. The Santa Clara, Calif.-based company is the developer of an infrastructure stack intended to help enterprise customers securely improve app experience and deliver multi-cloud apps. General Catalyst managing director Steve Herrod and WRVI managing partner Lip-Bu Tan have joined Prosimo's board.
View round
 
View similar company »
 
Bartesian gobbles up $20M
Bartesian has raised a $20 million Series A led by Cleveland Avenue, with participation from investors including Stanley Ventures. The Chicago-based company is the developer of a touchscreen cocktail maker that mixes customized drinks. Bartesian, which in 2020 recorded revenue growth of 975% year-over-year, has also added actress Mila Kunis to its board.
View round
 
View 2 competitors »
 
Empathy lands $13M to help grieving families
Empathy has raised a $13 million seed financing co-led by General Catalyst and Aleph. The company is the developer of a mobile app designed to help bereaved families manage logistical tasks including account cancellations, estate administration and benefit claims. Empathy operates out of New York and Tel Aviv.
View round
 
View similar company »
 
Chart of the Day
"The regional split in capital raised across Europe was consistent with recent years, even though devastation from COVID-19 has varied country to country. Despite Brexit, the UK & Ireland raised the most capital for venture funds with €5.1 billion, narrowly topping the DACH region, which raised €5.0 billion in 2020, marking a new record for the region."

Source: PitchBook's 2020 Annual European Venture Report
Ads
 
 
Who's in the newsletter today?
People
Lip-Bu Tan
Steve Herrod
Investors
Aleph
Cleveland Avenue
Coatue Management
DST Global
Dragoneer Investment Group
Emergence Capital
Falcon Edge Capital
General Catalyst
Greenoaks Capital
Insight Partners
Mila Kunis
Nepenthe Capital
RTP Global
Sofina
SoftBank
Stanley Ventures
Steadfast Venture Capital
Tiger Global
WRVI Capital
World Innovation Lab
Companies
Bartesian
Cred
Empathy
Prosimo
Sendbird
 
About PitchBook | Terms of use | Advertise with us | Contact

Follow us:   in   twtr   fb

This email was sent to you via the PitchBook Platform.

Do you want to change your email address, get a different edition or unsubscribe? Manage your subscription here.

© 2021 PitchBook Data. All rights reserved.
Venture capital, private equity and M&A financial information technology provider.

Older messages

VCs betting on German startups

Tuesday, April 6, 2021

SoftBank leads flurry of deals; Swiggy brings in $800M; Byju's to buy education company for $1B; DraftKings scores iGaming company Read online | Don't want to receive these emails? Manage your

Data startups tackle office uncertainty

Monday, April 5, 2021

Next Insurance secures $4B valuation; Thrasio taps former JCPenney exec; Stord raises $65M; Holler books $36M Series B Read online | Don't want to receive these emails? Manage your subscription.

A Hollywood story of surviving the pandemic

Sunday, April 4, 2021

Endeavor's second act; Compass loses its bearings; the Biotech bulwark Read online | Don't want to receive these emails? Manage your subscription. PitchBook Log in The Weekend Pitch April 4,

Buyout multiples: Europe (down), US (up)

Saturday, April 3, 2021

For the first time in over a decade, we've seen considerable divergence in buyout multiples between Europe and the US, mirroring public market shifts. Read online | Don't want to receive these

Deliveroo disappoints in public debut

Thursday, April 1, 2021

Coursera makes the grade in debut; SoftBank's Compass slashes IPO target; Tonal hits $1.6B valuation; Self-driving trucks startup loads up Read online | Don't want to receive these emails?

You Might Also Like

Advertisers are calling for full URL-level campaign reporting, and DSPs are responding in different ways

Monday, March 10, 2025

The Trade Desk quells talk of full URL-level campaign reporting (similar to Amazon), but there are nuances. March 10, 2025 PRESENTED BY Advertisers are calling for full URL-level campaign reporting,

The 90-10 Rule: Why Great Leaders Don’t Need Universal Approval

Monday, March 10, 2025

Leaders who focus too much on making everyone happy may inadvertently stifle the very innovation and progress that constructive dissatisfaction can inspire. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Athletes Are Making Their Own Chip Deals 🥔💰

Monday, March 10, 2025

Athletes turning snacks into serious cash 🚀🥔 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

🔔Opening Bell Daily: Investor jitters grow

Monday, March 10, 2025

Traders keep selling stocks and US indexes are lagging the rest of the world. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

A shellacking

Monday, March 10, 2025

Gaming share prices crater on US consumer fears ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

10x more leads (powerful)

Monday, March 10, 2025

Launching a product? I'm helping startups build better products and reach product-market fit. To do that, we've built ProductMix and you should use it: https://rockethub.com/deal/productmix

🥒 Now you’re in a pickle

Monday, March 10, 2025

This upstart grew sales by 29% YoY in a stalling industry View in browser mim-email-logo-2025-2 As liquor sales stagnated last year for nearly the first time in two decades, one segment of the market

I launched the ULTIMATE seo chrome extension (free)

Sunday, March 9, 2025

You are so very welcome ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Trump’s Bitcoin Reserve, Tokyo Beast’s $1M Championship & King of Destiny’s 2M $GOD Showdown – Your Ultimate Crypto & Gaming Update!

Sunday, March 9, 2025

PlayToEarn Newsletter #263 - Your weekly web3 gaming news ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Profile: The man who wants to know everything & the med spas offering balding treatments

Sunday, March 9, 2025

This edition of The Profile features Tyler Cowen, Lalisa Manobal, Zhang Shengwei, and others. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏