Silicon Valley Funding News - Week of October 18, 2021. Dexterity (Warehouse Robotics) Raised $140M Series B

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I will be heading to FII (Riyadh and Dubai), Web Summit and Breakpoint (Portugal). A bit nervous but excited about my very first international flight after 22 months!

The rich schools are getting richer. Harvard University reported this week that the size of its endowment fund grew 27% to $53.2 billion in 2021, while its investment return was 34%. The biggest driver was private equity (inclusive of VC), with a whopping 77% return on investment! Harvard's endowment distributed more than $2 billion toward the school's operating budget, one-third of annual revenue. This is a great validation of the venture capital industry supporting the university endowment investment model championed by the late David Swensen of Yale.

I had a pretty serious discussion on Bloomberg with Emily Chang on the topic of China venture capital. Here are some highlights:

China is still the 2nd biggest market in the world with over 1.4 billion people and $15 trillion GDP
Venture investing is not slowing down. Healthcare and semiconductors will stay strong. Sequoia China did 96 deals in the past 90 days!
Everyone in China need to play by the rules. Doesn’t matter whether you are Alibaba, Meituan or Didi or even PBOC and CIC
Hong Kong will be the hot spot for IPOs for Chinese companies. Yay Hong Kong 💪
China always has love / hate relationship with Crypto and has successfully crushed Bitcoin's hashrate down to 0%.
This crackdown is rebalancing the Crypto world and long term good for the blockchain ecosystem in the West and for the world.
Race Capital will stay focused and continue to invest early and help our founders build core infrastructure software for enterprise, developers, middleware, AI, data infrastructure (Databricks, Opaque), and fintech infrastructure (FTX, Saber).

Race Capital portfolio companies are hiring! Check out our job board.

This week a total of 29 startups raised $1.3054B in funding, 3 exits:

$461.7M goes to 11 Enterprise startups
$90M goes to 3 FinTech startups
$20M goes to 1 InsurTech startup
$118.7M goes to 2 Edtech startups
$240M goes to 2 Logistics startups
$55M goes to 1 Real Estate startup
$1.5M goes to 1 Social Media startup
$10M goes to 1 Gaming startup
$168M goes to 4 Healthcare startups
$80M goes to 1 BioTech startup
$60.5M goes to 2 Environmental startups

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Edith

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Funding (300 miles radius from Silicon Valley)

Enterprise

Weights & Biases (MLOps platform) raised $135M Series C led by Bond, Felicis Ventures
Hubilo (virtual events platform) raised $125M Series B from Alkeon Capital, Lightspeed Venture Partners and Balderton Capital
SupportLogic (support experience platform) raised $50M Series B led by General Catalyst, WestBridge Capital
Groove (sales engagement platform) raised $45M Series B led by Viking Global Investors
Convex (commercial-services software) raised $39M Series B from Fifth Wall, Emergence Capital and GGV Capital
Matik (personalized customer presentations) raised $20M Series A led by Andreessen Horowitz
MagicCube (software-based security) raised $15M Series C led by Mosaik Partners
Spacelift (cloud infrastructure management) raised $15M Series B led by Insight Partner
Nexla (data flow management platform) raised $12M Series A led by Industry Ventures
Replai (video intelligence platform) raised $4.7M Seed led by Hoxton
Party.Space (virtual events platform) raised $1M Seed from TA Ventures, Day One Capital, and Hjalmar Winbladh

FinTech

Lively (health savings account) raised $80M Series C led by B Capital Group
Pomelo (international money transfer) raised $5M Seed from Josh Buckley, Xfund, Afore Capital and Abel Tesfaye
B9 (personal finance platform) raised $3.5M Seed

InsurTech

At-Bay (cyber insurance platform) raised $20M Series D led by ION Crossover Partners

Edtech

Outschool (after-school enrichment marketplace) raised $110M Series D led by Bond, Tiger Global Management
Shift Network (transformational education) raised $8.7M Series A led by Bridge Builders Collaborative, Evolve Ventures

Logistics

Dexterity (warehouse robotics) raised $140M Series B led by Kleiner Perkins, Lightspeed Venture Partners
Reliable Robotics (automated cargo planes) raised $100M Series C led by Coatue Management

Real Estate

Zeus Living (furnished property rental management) raised $55M Series C led by SIG

Social Media

FourFront Media (storytelling platform) raised $1.5M Seed from Bam Ventures, Slow Ventures, BDMI, Alumni Ventures Group and HustleFund.

Gaming

Captain (games for streamers) raised $10M Series A from Makers Fund, Galaxy Digital, Betaworks, AET Fund, KPCB, Initial Capital, Worklife, Mark Pincus (Zynga), Kevin Lin (Twitch), Mike Verdu (Netflix), John Robinson (100 Thieves), and Bing Gordon (EA)

Healthcare

Lark (AI chronic disease management platform) raised $100M Series D led by Deerfield Management
Sprinter Health (in-home lab testing) raised $33M Series A led by Andreessen Horowitz
DeepSight Technology (diagnostic imaging) raised $25M Series A led by Deerfield Management
Better Health (chronic condition care solution) raised $10M Series A led by Caffeinated Capital, General Catalyst

BioTech

Culture Biosciences (biomanufacturing platform) raised $80M Series B led by Northpond Ventures

Environmental

Leap (energy market access platform) raised $33.5M Series B led by Park West Asset Management
AiDash (utility vegetation management) raised $27M Series B led by G2VP

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

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