Startups

Scorpion Therapeutics Raises $150 Million For Enhancing Clinical-Stage Precision Oncology Pipeline

By Amit Chowdhry ● Jul 27, 2024

Scorpion Therapeutics, a clinical-stage oncology company dedicated to transforming the lives of cancer patients by redefining the frontier of precision oncology, announced the closing of a $150 million Series C financing. The funding was co-led by Frazier Life Sciences and Lightspeed Venture Partners and included additional new support from Willett Advisors and leading healthcare institutional investors, along with existing investors Omega Funds, Vida Ventures, Atlas Venture, Abingworth, Fidelity Management & Research Company, Boxer Capital, EcoR1 Capital, LLC, Surveyor Capital (a Citadel company), Invus, Wellington Management, Nextech Invest Ltd. (on behalf of one or more funds managed by it), OrbiMed, Logos Capital, Woodline Partners LP, and Casdin Capital.

Predicta Biosciences Raises $5.2 Million To Develop Novel Diagnostic And Therapeutic Products

By Amit Chowdhry ● Jul 27, 2024

Predicta Biosciences, a precision oncology company developing novel diagnostic and therapeutic products, announced it has raised an oversubscribed $5.2 million seed round led by The Engine Ventures. And additional participating investors include Illumina Ventures, Time Boost Capital, the American Cancer Society Bright Edge and the Oetgen family.

ACEL Power: Marine Electric Company Raises $10 Million In Series A

By Amit Chowdhry ● Jul 27, 2024

ACEL Power, an innovator in marine electric innovation, announced it has closed its oversubscribed Series A round with $10 million in funding. The funding was led by Tau Capital, which is an Abu Dhabi-based private venture capital firm committed to supporting advancements in science and technology for a positive impact on the world.

Cart.com Raises $105 Million Term Loan Facility From BlackRock

By Amit Chowdhry ● Jul 27, 2024

Cart.com - a leading provider of unified commerce and logistics solutions that enable merchants to sell and fulfill wherever their customers are - announced it has secured a $105 million term loan facility provided by funds and accounts managed by BlackRock. The latest facility helps consolidate Cart.com’s venture debt at competitive terms as the company continues its rapid growth trajectory.

Xapien: AI-Based Due Diligence Provider Raises £8 Million In Series A

By Amit Chowdhry ● Jul 27, 2024

AI due diligence provider Xapien announced the completion of its £8 million ($10 million) Series A funding round, led by YFM Equity Partners. This brings the total funding to £14 million ($17.8 million).

Heimdall Power: Grid Optimization Company Raises $25 Million

By Amit Chowdhry ● Jul 27, 2024

Heimdall Power, a company that is driving power grid optimization for utility companies around the world, announced the closing of its $25 million Series B funding round. This funding round was co-led by international energy giant Orlen, Nordic cleantech fund NRP Zero and the Steinsvik Family Office. And additional investments were made by existing investors, Investinor, Eviny, Hafslund, Lyse, and Sarsia Seed.

Vectara: GenAI Product Platform Company Raises $25 Million In Series A

By Amit Chowdhry ● Jul 27, 2024

Vectara, a trusted Generative AI (GenAI) product platform, announced it has closed a $25 million Series A round led by FPV Ventures and Race Capital. The additional investors include Alumni Ventures, WVV Capital, Samsung Next, Fusion Fund, Green Sands Equity, and Mack Ventures.

CatalYm: Cancer Therapy Resistance Mechanism Company Raises $150 Million In Series D

By Amit Chowdhry ● Jul 27, 2024

CatalYm announced the completion of a $150 million Series D financing. The oversubscribed funding round was led by new investors, Canaan Partners and Bioqube Ventures, and joined by Forbion's Growth Opportunities Fund, Omega Funds and Gilde Healthcare. Existing investors Jeito Capital, Brandon Capital Partners, Novartis Venture Fund and Vesalius Biocapital III also participated in the round.

Seven Starling: Women’s Behavioral Health Services Virtual Provider Raises $10.9 Million

By Amit Chowdhry ● Jul 27, 2024

Seven Starling, a virtual provider of women's behavioral health services, announced it has raised $10.9 million in Series A funding. RH Capital led the oversubscribed investment round, with participation from insiders Pear VC, Expa, Magnify Ventures, Emerson Collective, and Inflect Health, and new investors including Zeal Capital Partners, Ulu Ventures, Fiore Ventures, the March of Dimes, Rogue Venture Partners, Graham & Walker, and Wisdom Ventures.

Jacobi Robotics: AI-Based Motion Planning Tech Company Raises $5 Million

By Amit Chowdhry ● Jul 27, 2024

Jacobi Robotics, a company that has pioneered a new kind of AI-powered motion planning technology that requires 1000x less computational time and enables the deployment of robots in less than one day compared to one month with existing programming tools, announced it launched the availability of its robotics AI software platform. The company also announced it has raised a $5 million seed round led by Moxxie Ventures with participation from Foothill Ventures, Humba Ventures, and The House Fund. Existing investors Swift Ventures, Berkeley SkyDeck Fund, and LDV Partners also participated.

Exa: Search-Focused AI Company Secures $22 Million

By Amit Chowdhry ● Jul 27, 2024

Exa - an AI research lab redesigning search - announced $22 million in seed and Series A funding led by Lightspeed Venture Partners, with participation from NVentures (NVIDIA's venture capital arm), and Y Combinator. This funding will accelerate Exa’s goal of building the search engine for AI.

Loci Orthopaedics: €12.8 Million In Series A Funding Raised

By Amit Chowdhry ● Jul 27, 2024

Loci Orthopaedics - an orthopaedic medical device company - announced the successful closing of an oversubscribed €12.8 million Series A financing. The funding round was led by new investors Seroba, Johnson & Johnson Innovation, JJDC, Inc., (JJDC) and the European Innovation Council (EIC) Fund.

Shaped.ai: AI Recommendation And Search Platform Raises $8 Million

By Amit Chowdhry ● Jul 27, 2024

Shaped.ai, an AI recommendation and search platform for marketplaces, e-commerce, and content companies, announced funding of $8 million and the launch of their new self-serve cloud product.

TRiCares: Medical Device Company Raises $50 Million In Series D

By Amit Chowdhry ● Jul 27, 2024

TRiCares SAS, a privately held pioneer in the minimally invasive treatment of tricuspid regurgitation, announced it has raised $50 million (€46 million) in a Series D funding round. The funding round was raised from a single strategic investor.

Hash: AI Mining Company Secures $10 Million From Bolt’s Capital

By Amit Chowdhry ● Jul 27, 2024

Hash AI announced it raised a strategic $10 million investment from Bolt's Capital - which is a leading venture capital firm focused on the blockchain industry. This funding fuels the company’s mission at Hash AI: to transform crypto mining through intelligent automation and a commitment to sustainable practices.

Lakera: GenAI Security Company Raises $20 Million

By Amit Chowdhry ● Jul 27, 2024

Lakera, a leading real-time Generative AI (GenAI) Security company, announced it has raised $20 million in a Series A funding round. This funding round was led by Atomico, with participation from Citi Ventures, Dropbox Ventures, and existing investors including redalpine. This round brings Lakera's total funding to $30 million.

Granite Creek Capital Partners Invests in Madwire

By Amit Chowdhry ● Jul 26, 2024

Granite Creek Capital Partners, a private investment firm based in Chicago, announced a growth investment in Madwire. Madwire is a technology company offering business management and marketing software and services for small and medium-sized businesses (SMBs) through its flagship product, Marketing 360.

Earthshot Labs Raises $5.5 Million To Expand Nature-Based Carbon Project Development

By Amit Chowdhry ● Jul 26, 2024

Earthshot Labs announced it has completed a $5.5 million Series A funding round to expand its platform for nature-based carbon project development and financing. And Earthshot has helped develop over 60 reforestation, conservation, agroforestry, and improved forest management projects worldwide and directed over $55 million in financing. This funding round was led by Acorn Pacific Ventures with participation by Earth Foundry, Future Ventures, Resilient Earth Capital, One Small Planet, Parameter Ventures, Sand Hill Angels, and Orca Capital.

CytoReason: $80 Million Raised To Develop Computational Disease Models For Predictive Insights

By Amit Chowdhry ● Jul 26, 2024

CytoReason, a leader in developing computational disease models for predictive insights, announced it raised an aggregated $80 million from OurCrowd, NVIDIA, Pfizer, and Thermo Fisher Scientific.

ReliON: C$3 Million Raised To Develop O&M Solutions For EV Charging Infrastructure

By Amit Chowdhry ● Jul 26, 2024

ReliON - a Montréal and Ottawa-based pioneering provider of Operation & Maintenance (O&M) solutions for EV charging infrastructure - announced it has raised a C$3 million funding round led by Diagram Ventures, with participation from MaRS Investment Accelerator Fund (IAF), AQC Capital, Anges Québec and Cycle Momentum.

Aven: $142 Million In Series D Raised To Offer Consumer Credit Cards Backed By Home Equity

By Amit Chowdhry ● Jul 26, 2024

Aven, a technology company offering consumer credit cards backed by home equity, announced a $142 million series D round of funding led by Khosla Ventures and General Catalyst, with participation from existing investors, including Caffeinated Capital, Electric Capital, Founders Fund, and The General Partnership.

Leya: AI-Driven Legal Technology Company Closes $25 Million In Series A

By Amit Chowdhry ● Jul 26, 2024

Leya, a pioneer in AI-driven legal technology, announced the successful closing of a $25 million Series A funding round. This funding round was led by Redpoint Ventures, with participation from existing investors Benchmark, Y Combinator, and Wayfinder Ventures and the new addition of Alt Capital.

Code Metal: AI-Based Edge Development Workflow Company Secures $13 Million In Seed Funding

By Amit Chowdhry ● Jul 26, 2024

Code Metal, a leading company in AI-based development workflows for the edge, announced a $13 million seed funding round, led by Shield Capital, and a prior $3.45 million pre-seed round, led by J2 Ventures, with support from Fulcrum Venture Group, Underdog Labs, and others.

Magenta Medical: Heart Pump Company Raises $105 Million

By Amit Chowdhry ● Jul 26, 2024

Magenta Medical, the developer of Elevate (the world's smallest heart pump), announced it had closed a $105 million funding round led by global healthcare investment firm Novo Holdings. The new investors Viking Global Investors and RA Capital Management, as well as existing investors OrbiMed, New Enterprise Associates (NEA), JVC Investment Partners, and ALIVE - Israel HealthTech Fund, also participated in this round.

Leuko: Non-Invasive Blood Testing MIT Spinout Receives $4.5 Million NIH Grant

By Amit Chowdhry ● Jul 25, 2024

Leuko, a medical tech company pioneering the field of non-invasive blood testing, announced that it has received a $4.5 million SBIR Phase IIB award from the National Institutes of Health (NIH) National Cancer Institute (NCI) for the continued development of PointCheck, the first solution that enables non-invasive white blood cell monitoring.

Bitlayer: Bitcoin Layer 2 Solution Company Secures $11 Million

By Amit Chowdhry ● Jul 25, 2024

Bitlayer Labs, the first Bitcoin Layer 2 based on the BitVM paradigm, announced the completion of its $11 million Series A funding round. This funding round is led by industry leaders Franklin Templeton and ABCDE, offering powerful strategic and capital resources that will pave the way for Bitlayer's expansion. ABCDE, along with Framework Ventures, led Bitlayer's seed round funding.

Clio: Legal Tech Company Raises $900 Million At $3 Billion Valuation

By Amit Chowdhry ● Jul 25, 2024

Clio, a global leader in legal technology, announced it has raised $900 million (based on a $3 billion valuation) in a Series F investment round led by New Enterprise Associates (NEA). The funding round also includes new partners Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark, who join current investors TCV, JMI Equity, funds and accounts advised by T. Rowe Price Associates and by T. Rowe Price Investment Management, respectively, and OMERS.

Brenig Therapeutics: Neurology-Focused Drug Development Company Secures $65 Million In Series A

By Amit Chowdhry ● Jul 25, 2024

Brenig Therapeutics - a neurology-focused drug development company utilizing an AI/ML-based discovery platform - announced the closing of a $65 million Series A funding.

Third Arc Bio Raises $165 Million To Develop Multifunctional Antibodies Optimized For T Cell Engagement

By Amit Chowdhry ● Jul 25, 2024

Third Arc Bio - a biotech company developing multifunctional antibodies that are optimized for best-in-class T cell engagement across solid tumors and inflammatory & immunology (I&I) disease - announced a $165 million oversubscribed Series A financing. The Series A investor syndicate was led by Vida Ventures and co-led by Cormorant Asset Management and Hillhouse Investment. And additional investors include Goldman Sachs Alternatives, BVF Partners LP, funds and accounts advised by T. Rowe Price Associates, Janus Henderson Investors, funds managed by abrdn, Marshall Wace, Foresite Capital, Logos Capital, Freepoint Capital Group, and AbbVie Ventures.

Runway Growth Capital Investing $20 Million In Elevate

By Amit Chowdhry ● Jul 25, 2024

Runway Growth Capital, a leading provider of growth loans to venture and non-venture-backed companies seeking an alternative to raising equity, announced a $20 million growth capital commitment to Elevate (a leading consulting, technology, and services provider for law departments and law firms). This investment upsizes the previous $40 million senior secured term loan provided by Runway in 2023.