Sifted - $80m for toad tech 🐸

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Hi Sifted Reader,

We have a toad-tastic story to start off your week. Medtech startup Beckley Psytech wooed investors with its clinical trials using psychedelic toad venom to treat depression, and raised $80m. Here's what else we have:
  • The 70+ millionaires at Revolut
  • Venture partnering 101
  • 15 Danish startups to watch, according to VCs

\Fintech 

Revolut has turned over 70 employees into millionaires


The mega fintech — which is valued at $33bn — is not only making its investors and founders rich. Its employees are big winners too.

That’s according to a Sifted analysis of Companies House records, which looked at how many shares employees and Revolut alumni held in the company.

So how many millions are we looking at?

Get an inside look here.

\A message from our sponsor Zendesk 

Perfect your customer experience to scale your startup 

Do you have up to 50 employees and outside funding? Great! You qualify for the Zendesk for Startups Program; six months free customer support software, expert advice and access to a community of founders. 

Apply here.

\Opinion

What does a 'venture partner' do? 


Julius Bachmann, an executive coach working with three VC firms — Entrepreneur First, Joyance Partners and Backed VC — gives the lowdown on what it's like being a venture partner and how to become one.

Read his words of wisdom here.

\Community Journalism

Tell us your toxic workplace stories


Recently, we’ve been asking you, our readers, to anonymously share your experiences of toxic work environments. 

We’ve been blown away by the number of responses so far, and wanted to say a massive thanks to all of you who have shared already. 

We’re closing the survey this week, but there’s still time to get involved. It’ll only take a few minutes and we’ll publish an article about your experiences in the coming weeks.

Take our anonymous survey.

\For Members Denmark 

15 Danish startups to watch, according to VCs

Money is flooding into the Danish startup ecosystem this year. In the first half of 2021, investors splashed €1.6bn in Denmark-based startups, towering over the €554m they invested in all of 2020.

With eight unicorns — like Pleo, Zendesk and Trustpilot — all eyes are on which startup could be Denmark's next big tech company. Denmark’s next big tech company. So what startups do top Danish VCs think could follow in their footsteps?

Read this to find out.

If you're not yet a Sifted member, subscribe here for as little as £19 per month.

\News

Are toads the key to treating depression?


Well, yes, according to medtech startup Beckley Psytech and its latest investors — who have just pumped $80m of fresh capital into the firm.

The funding will be used to accelerate clinical trials of a psychedelic toad venom produced endogenously by the Sonoran Desert toad.

So what's got investors so excited about the mind-bending secretion of this particular toad?

Tim Smith reports.

\Sponsored by Business Sweden

Fostering sustainable innovation in Sweden and Israel


With Israel boasting the highest percentage of GDP invested in startups and Sweden housing the most billion-dollar unicorns outside of Silicon Valley, both startup ecosystems are a hotbed of innovation.

They've both also produced an exciting batch of innovative sustainability companies — in sectors like energy and pharmaceuticals. Who are they? And how do they align with sustainability trends on a consumer, investor and global level?

Read here to find out.

Sifted Suggests

🔮 Insurtech predictions by Accel. It’s all eyes on Europe’s insurtech sector this year — five European insurtech startups have become unicorns in the past four months. So what’s in store for the sector moving forward? Find out here.

🇬🇧 High-growth companies — London underground edition. Beauhurst has made this cool infographic mapping out the best funded companies nearest to over 60 London tube stations.

🅰️ The triple A solution to ecommerce. While the ecommerce sector enjoyed a boom in the past 18 months, it means demands to keep up have become more challenging. This article explores how AI, automation, and algorithms in ecommerce logistics can help keep the sector afloat amid overwhelming demand.

🤔 Will the Zoom boom continue? Wired reports on a surfacing debate: are we really as collaborative in the office? Read here.

Events

How to stop your customers from churning | Online | August 19 
In our next Sifted Talks, our panel of experts will discuss how startups can build customer loyalty, and prevent the dreaded customer churn.

What’s really holding electric energy back? | Online | August 26
From smart grids to EV batteries, electrification is a promising area for clean energy. But is the world ready? We’ll ask the experts in this Sifted Talks.

Customer experience mistakes and how to avoid them | Online | September 1 
In this Sifted Talks. experts will discuss the impact of a poor customer journey and reveal quick wins to improve sales.

Experience the FTWeekend come to life | Join us in person or online | September 4
Join leading authors, scientists, politicians, FT writers and editors and more at Kenwood House — or watch from the comfort of your own home.

Sifted Opinion

Forget unicorns, here’s why the cockroach matters
Six top tips for a successful cofounder relationship
VCs are financing an economy of servants
What healthtechs in Europe can learn from 10-minute grocery
Why CPTOs shouldn’t be the new normal
Amy Lewin
Deputy Editor

Get in touch with her at amy@sifted.eu
Or tweeting @amyrlewin
Connor Bilboe
Editorial Assistant 

Get in touch with him at connor@sifted.eu
He likes sustainability stories.
What would you like to read about in the next email?
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