CB Insights - 68-page telehealth report

Hola, 

We've got a stacked newsletter today, including record telehealth and insurtech funding numbers.

But before we jump in, let’s talk metaverses — essentially, virtual worlds.

Facebook CEO Mark Zuckerberg recently announced his vision of Facebook becoming “a metaverse company,” spanning its social platforms, AR/VR initiatives, and more. Zuck imagines this to be a more cohesive version of the internet, one in which people can be wholly present rather than just look. 

Other execs also have metaverses on the mind, as evidenced by the jump in mentions in Q2’21.

From shopping to gaming, we looked at how these shared virtual spaces could redefine how we interact with people and businesses. And amid the rise of Roblox and NFTs, the opportunities to create unique digital experiences for consumers appear to be trending upward.

So are “metaverses” just another buzzword? Or the future of our online experience? 

What the telehealth

Global telehealth investment grew 169% year-over-year to reach a record high of $5B in Q2’21. The top 5 deals alone represented 30% of Q2’21 funding.

We highlight telehealth unicorns, exits, and funding trends across segments like teletherapy and remote monitoring & diagnostics in our State Of Telehealth Q2’21 report.

Insurtech is in good hands

In the first half of 2021, insurtechs raised $7.4B — surpassing the $7.1B raised for all of 2020.
 

Read more about the latest insurtech funding trends in our Willis Towers Watsons and CB Insights Insurance Tech Q2 2021 report here.

More than a potty break

As the bathroom evolves into a prime self-care space, companies are targeting new opportunities in consumers' everyday grooming and hygiene routines.

From mirrors & scales to sustainable bath & body, here’s how companies are unbundling the bathroom.

Easy as 1, 2, 3

Applications are open for the 2021 Digital Health 150, CB Insights' third annual round-up of the 150 most promising private digital health companies in the world.

Since announcing last year's list, the 2020 cohort has raised over $13B in funding. 6 winners have exited through M&A, while 9 have gone public (or announced plans to do so).



To be considered for this year's list, all you need to do is fill out the < 3-min initial application. Fill it out here before August 3.

68%: Algolia, which develops API-enabled online search solutions for businesses, raised a $150M Series D round at a unicorn-minting $2.3B valuation. Algolia credits its growth to the rise of the API economy and e-commerce broadly. We predicted Algolia would surpass the $1B mark in our 2020 Future Unicorns report, made in collaboration with Fast Company. So far, we have a 68% hit rate (including exits). 

430 signees: 430 advocacy groups co-signed a letter to Congress requesting permanent removal of certain barriers to telehealth coverage under Medicare, such as the requirement that a provider be located in the same region as the patient. These rules were lifted during the pandemic but could be reinstated once Covid-19 is no longer deemed an emergency. Our just-released State Of Telehealth report breaks down telehealth’s record-breaking Q2.

1M qubits: Quantum computing developer PsiQuantum raised a $450M Series D at a $3.2B valuation. The funds will go toward the company’s plans to build a 1M-qubit quantum computer within the decade. It hopes to scale up to this by relying on a unique approach to chip design that uses photons as qubits. Not sure where to start with quantum computing? Check out our explainer. 

50%: Lululemon partnered with biotech company LanzaTech to create a first-of-its-kind fabric made from recycled carbon emissions. To achieve this, LanzaTech produces ethanol from waste sources (that would otherwise contribute to emissions) and then converts it to polyester. Currently, fabrics account for about 50% of Lululemon’s carbon impact. We dig into the push for sustainability in fashion in this report.

3M views: Lucasfilm hired YouTube video creator Shamook — who creates Star Wars deepfakes that seek to improve upon Lucasfilm’s productions — as its “senior facial capture artist.” One of Shamook’s videos, which depicts a Luke Skywalker deepfake in The Mandalorian, has over 3M views. We dig into the AI tech behind deepfakes and other synthetic media forms here.

6.1%: According to a working paper published in the National Bureau of Economic Research, Uber ride-sharing accounted for a 6.1% reduction in alcohol-related traffic deaths, or 214 lives saved, in 2019, when compared to fatalities in years before Uber was ubiquitous. The highest reductions were seen at night and on weekends.

A Florida man intending to head 1,000 miles north in a barrel-shaped running device instead washed ashore 30 miles south.

He reportedly turned back after noticing that some of his equipment had been stolen.

He plans to resume his “run” once the weather permits. “I will show people anything you want to do, do it. Don’t listen to anyone. Chase your dreams.”
 

Have a great rest of the week.
 

Marcelo

@ballve

P.S. We're hiring a lead test engineer. Apply here.