Silicon Valley Funding News - Week of June 28, 2021. Incorta Raised $120M Series D

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Where Is the crypto and blockchain industry headed in 2021?

Sam Bankman-Fried, founder and CEO of FTX (one of our Race's portfolio companies) talked about what's next for Bitcoin on Yahoo Finance.

Here’s a brief summary of his interview + my thoughts on the current market:

The People’s Bank of China has directed banks and payment platforms (Alipay, WeChat Pay) to crack down on crypto and cut-off RMB on and off-ramps. This will likely impact Chinese crypto exchanges like Huobi, OKex and Binance.
China mining ban forces miners to relocate to the US and other countries. China accounts for more than 75% of bitcoin mining around the world as of May 2021. It is a good thing for the mining industry longer term as not one country would have a majority of the hash power.
More and more traditional financial institutional money is flowing into crypto. Consumers can now trade crypto on Paypal, Square, Robinhood, SoFi, Venmo, etc. Square is launching its own hardware wallet. And Fidelity launched Sherlock (crypto analytics platform).
We are seeing a big drop off of speculative bets - dropping borrowing costs in crypto and dropping bitcoin futures.

Despite the recent crypto crash, I believe the future of DeFi is still very bright. Read this post on DeFi Infrastructure 101 — Overview & Market Landscape.

P.S. FoundersHK is calling all Hong Kong founders to apply for the 2021 Accelerate Program. Applications are open until July 12. Check it out.

This week a total of 30 startups raised $1.0821B in funding, 2 M&As:

$543.8M goes to 13 Enterprise startups
$50M goes to 1 FinTech startup
$48M goes to 1 Crypto startup
$75M goes to 2 eCommerce startups
$2.4M goes to 1 FoodTech startup
$70M goes to 1 Food Delivery startup
$9.5M goes to 1 Recruiting startup
$21M goes to 1 Construction startup
$70.7M goes to 3 Healthcare startups
$145M goes to 3 BioTech startups
$40M goes to 1 IoT startup
$4M goes to 1 AgTech startup
$2.7M goes to 1 Other startup

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Edith

See more details below:

Funding (300 miles radius from Silicon Valley)

Enterprise

Incorta (unified data analytics) raised $120M Series D led by Prysm Capital
Primer (natural language processing) raised $110M Series C led by Addition
Vercel (front-end development platform) raised $102M Series C led by Bedrock Capital
Tonkean (business process automation) raised $50M Series B led by Accel
Sanity (unified content asset platform) raised $39M Series B led by ICONIQ Growth
Anjuna (cloud data security) raised $30M Series B led by Insight Partners
Robocorp (self-managed bot automation platform) raised $21M Series A led by Canvas Ventures
Pequity (intelligent compensation platform) raised $19M Series A led by Norwest Venture Partners
Env0 (cloud deployment workflow management) raised $17M Series A led by M12
Symmetry Systems (data security) raised $15M Series A led by ForgePoint Capital, Prefix Capital
Acryl Data (metadata management) raised $9M Seed led by 8VC
TheLoops (intelligent support operations platform) raised $8.8M Seed from Tidal Ventures and Westwave Capital
Hive Pro (predictive vulnerability analytics) raised $3M Seed led by Simpro Holding

FinTech

Deserve (cloud-based credit card platform) raised $50M Series D led by Ally Ventures, Mastercard, Mission Holdings

Crypto

Securitize (digital asset securities) raised $48M Series B led by Blockchain Capital, Morgan Stanley Tactical Value

eCommerce

CommerceIQ (e-commerce management platform) raised $60M Series C led by Insight Partners
Via (mobile commerce) raised $15M Series A led by Footwork

FoodTech

Hamama (microgreen growing kits) raised $2.4M Seed

Food Delivery

Snackpass (social food ordering platform) raised $70M Series B led by Craft Ventures

Recruiting

GoodTime (interview scheduling and hiring experience solution) raised $9.5M Series A led by KTB Ventures

Construction

SafeAI (autonomous heavy equipment) raised $21M Series A led by Builders VC

Healthcare

NexHealth (patient experience platform) raised $31M Series B led by Jeffrey Katzenberg, Josh Buckley
Bicycle Health (virtual care for opioid use disorder) raised $27M Series A led by Questa Capital
xCures (precision oncology platform) raised $12.7M Series A led by Boehringer Ingelheim Venture Fund

BioTech

TRex Bio (tissue immunobiology) raised $59M Series A from Eli Lilly and Company (Lilly), SV Health, Johnson & Johnson Innovation, Pfizer Ventures, and Alexandria Venture Investments
Enveda Biosciences (small molecule therapeutics) raised $51M Series A led by Lux Capital
Glycomine (therapeutics for glycosylation disease) raised $35M Series B led by Abingworth and Sanofi Ventures

IoT

Quantela (IoT-enabled solutions provider) raised $40M Series B led by Digital Alpha

AgTech

Boomitra (carbon credits) raised $4M Seed led by Yara Growth Ventures

Other

Holy Grail (modular carbon capture devices) raised $2.7M Seed from LowerCarbon Capital, Goat Capital, Patrick Collison, Charlie Songhurst, Kyle Vogt, Ian Hogarth, Starlight Ventures and 35 Ventures

IPO & M&A (300 miles radius from Silicon Valley)

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Silicon Valley Funding News - Week of June 28, 2021. Incorta Raised $120M Series D

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Silicon Valley Funding News - Week of June 21, 2021. IRL Raised $170M Series C led by SoftBank Vision Fund

Silicon Valley Funding News - Week of June 14, 2021. Cerebral Raised $127M Series B

Silicon Valley Funding News - Week of June 7, 2021. Alation Raised $110M Series D

Silicon Valley Funding News - Week of May 31, 2021. Zeta Raised $250M Series C led by SoftBank

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