Startups

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.

TMRW Life Sciences: Automated Specimen Management Company Secures Over $28 Million In Series D

By Amit Chowdhry ● Jul 25, 2024

TMRW Life Sciences (TMRW), the creator of the only FDA-cleared automated specimen management and storage platform for frozen human sperm, eggs, and embryos, announced that it closed a $28+ million Series D equity funding round to meet high demand from fertility clinics seeking safe and more accurate cryostorage solutions. The funding round was led by 5AM Ventures with participation from FIOS Venture Holdings, DF Investment Partners, Transformation Capital, Life Sciences Innovation Fund, and Casdin Capital. And additional support came from leading women's health investors such as GV (formerly Google Ventures), and actress and advocate Amy Schumer, and others.

Splight: $12 Million Closed To Address Energy Curtailment

By Amit Chowdhry ● Jul 25, 2024

Splight, an AI-based company at the forefront of grid operations technologies, announced the completion of its seed funding round. The $12M round was led by noa (formerly A/O) and joined by EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent Energy Ventures, Fen Ventures, Reaction Global, Barn Investments, and the UC Berkeley Foundation, and others.

Headway: $100 Million In Series D Closed At $2.3 Billion Valuation To Build New Mental Healthcare System

By Amit Chowdhry ● Jul 25, 2024

Headway, a company building a new mental healthcare system, announced a $100 million Series D funding round and its planned expansion to Medicare Advantage and Medicaid. These developments will enable clinicians on the platform to scale their practices and provide affordable and effective mental health care to a broader and more diverse community of patients, including seniors, low-income Americans and individuals living with disabilities. This recent funding values the company at $2.3 billion, which is a 130% increase from its previous valuation.

Momentum: Customer Intelligence Company Secures $13 Million In Series A Funding

By Amit Chowdhry ● Jul 25, 2024

Momentum, the customer intelligence platform that enables enterprise listening and automation, announced that it has raised $13 million in Series A funding led by FirstMark Capital with participation from Stage 2 Capital. This brings Momentum's total funding to $18 million. The existing Momentum investors, including Basis Set Ventures and Leadout Capital, also participated in the round.

Halo Industries: Laser Manufacturing Technology Company Raises $80 Million In Series B

By Amit Chowdhry ● Jul 25, 2024

Halo Industries, a creator of a laser manufacturing technology platform for the semiconductor industry, announced it raised up to $80 million in its oversubscribed Series B funding round.

Joy: Parenting Tech Platform Company Raises $10 Million In Series Seed Funding

By Amit Chowdhry ● Jul 25, 2024

Joy, a new parenting tech platform offering 24/7 expert-led support for parents, announced it raised $10 million in seed funding led by Forerunner. Other investors include Magnify Ventures, David Heller, Wesley Capital, Obvious Ventures, Ogden Cap, Maywic, Rogue Venture Partners, and WTI. Eurie Kim, managing partner at Forerunner, is joining the Joy board.

Aurora Hydrogen: Over $4 Million Raised From Natural Resources Canada And NGIF Accelerator

By Amit Chowdhry ● Jul 25, 2024

Aurora Hydrogen, an Edmonton-based hydrogen technology company, was awarded $3 million in funding from Natural Resources Canada (NRCan) and $1+ million from the NGIF Accelerator to scale its production of low-carbon / low-cost hydrogen and advance the maturity of its technology for piloting and commercialization.

HexClad Raises $100 Million Strategic Investment From Studio Ramsay Global

By Amit Chowdhry ● Jul 25, 2024

HexClad, a premium kitchenware brand, announced a strategic $100 million investment from Studio Ramsay Global. Studio Ramsay Global is a successful partnership between multi-Michelin-starred Chef Gordon Ramsay and FOX Entertainment. This deal comprises a combination of cash and media commitments.

Antheia: Pharmaceutical Ingredient Producer Secures $17 Million In New Funding

By Amit Chowdhry ● Jul 25, 2024

Antheia, the pharmaceutical ingredient manufacturer transforming essential medicine supply chains, announced $17 million in new funding through a government project agreement through the Biopharmaceutical Manufacturing Preparedness Consortium (BioMaP-Consortium), along with matching support from new strategic investors.

akirolabs: ProcureTech Company Extends $5 Million Seed Round With 7-Digit Grant

By Amit Chowdhry ● Jul 25, 2024

akirolabs - a Berlin-based ProcureTech company enabling enterprises worldwide to augment strategic procurement processes - announced an extension to its recent $5 million seed funding with an additional 7-digit non-dilutive grant from Investitionsbank Berlin and the European Regional Development Fund (ERDF).

Micropep: Micropeptide Technology Leader Raises $29 Million

By Amit Chowdhry ● Jul 25, 2024

Micropep Technologies - a global leader in micropeptide technology, announced today a $29 million Series B funding round along with its proprietary discovery platform Krisalix. This funding round was led by Zebra Impact Ventures, and BPI Green Tech Investment. All existing investors, Fall Line Capital, FMC Ventures, Sofinnova Partners, Supernova Invest, and IRDI Capital Investissement also participated. This brought the company’s total funding to over $51.8 million.

Hanger Ventures Reveals Bionic Power As Inaugural Investment

By Amit Chowdhry ● Jul 25, 2024

Hanger Ventures (a Hanger, Inc. business whose primary objective is to advance orthotics and prosthetics innovation and improve patient outcomes) announced its debut investment in Canadian-based firm Bionic Power. As a developer of active lower body smart orthotic devices that enhance personal mobility, Bionic Power is raising Series A Round funding with Hanger Ventures committing as the lead investor.

Lario Therapeutics Receives $6 Million Grant From Michael J. Fox Foundation

By Amit Chowdhry ● Jul 25, 2024

Lario Therapeutics - a biopharmaceutical company developing first-in-class precision medicines for epileptic and neurological disorders - announced it has been awarded a $6 million grant from The Michael J. Fox Foundation for Parkinson’s Research (MJFF). This program is in collaboration with the Oxford Parkinson’s Disease Centre, which will also be delivering key science as part of the grant.

Juno: Child Disability Insurance Company Raises $8.5 Million

By Amit Chowdhry ● Jul 25, 2024

Juno - the first company in the U.S. to provide child disability insurance - announced it has closed an $8.5 million Series A led by Spero Ventures with participation from Floating Point, Newark Ventures, and WVV Capital, bringing its total capital raised to $12.5 million.

Linx: Modern Identity Security Company Raises $33 Million

By Amit Chowdhry ● Jul 24, 2024

Linx Security, a modern identity security and governance solutions company, emerged from stealth and announced that it has raised $33 million in funding. The funding round was led by Index Ventures and Cyberstarts, with investors also including entrepreneurs Mickey Boodaei (Imperva, Trusteer, Transmit) and Rakesh Loonkar (Trusteer, Transmit), and Cerca Partners and Knollwood Investment Advisory.

Vitable: Direct Primary Care Company Raises $16 Million

By Amit Chowdhry ● Jul 24, 2024

Vitable, an enhanced Direct Primary Care company working with SMB employers to deliver affordable and high-quality healthcare to hourly workers, announced it has raised a $16 million Series A funding round led by Cherryrock Capital with participation from Citi Impact Fund, First Round Capital, newark venture partners (nvp), Commerce Ventures, and Y Combinator.

Strive: Financial Services Company Raises $30 Million In Series B

By Amit Chowdhry ● Jul 24, 2024

Strive Enterprises, a financial services company with an asset management platform focused on maximizing long-run returns for investors, announced today that it closed a $30 million Series B financing round led by Cantor Fitzgerald, L.P. Deason Capital Services (led the Series A round), Narya Capital, and several prominent entrepreneurs also participated in the funding.

Igloo: Pudgy Penguins Parent Company Secures Over $11 Million

By Amit Chowdhry ● Jul 24, 2024

Igloo, the parent company of Pudgy Penguins, today announced the closing of over $11 million in funding led by Founders Fund with additional investments from Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital.

QA Wolf Secures $36 Million In Series B To Transform Software Quality Assurance

By Amit Chowdhry ● Jul 24, 2024

QA Wolf, a company that guarantees 80%+ end-to-end automated test coverage for web apps, announced a $36 million Series B funding round to accelerate its expansion into native mobile testing, which is set to launch later this year and is now open for waitlist. This funding round was led by Scale Venture Partners with participation from Threshold Ventures and Ventureforgood, and existing investors Inspired Capital and Notation Capital.

Evo Security: Identity And Access Management Solutions Company Raises Series A Funding Round

By Amit Chowdhry ● Jul 24, 2024

Evo Security, a leading provider of Identity and Access Management solutions for Managed Service Providers (MSPs), announced the successful completion of its Series A funding round - raising $6 million led by TechOperators, an Atlanta-based cybersecurity venture capital firm led by industry veterans. This funding round includes participation from Sorenson Capital, Prelude, Strategic Cyber Ventures, Inner Loop Capital, and new partner MetroSITE Group.

Jake Paul’s W Secures $14 Million At Over $150 Million Valuation

By Amit Chowdhry ● Jul 23, 2024

W, the men's personal care brand launched by Jake Paul, announced today it has raised a Series A led by Shrug Capital. With $14 million in funding to date, inclusive of seed financing and incubation from Anti Fund, the company is now valued at more than a $150 million valuation. The co-investors include Range Group, 305 Ventures, Uphonest Capital, Quiet Capital, and Palm Tree Crew, with participation from individuals including Celsius' CEO John Fieldly, Fanatic's CEO Michael Rubin, Lil Durk, Nick Kyrgios, Naomi Osaka, and Carter Reum and Paris Hilton.

Protexxa: Cybersecurity Company Raises $10 Million In Series A

By Amit Chowdhry ● Jul 23, 2024

Protexxa - one of the largest cybersecurity companies in the country - announced it has raised $10 million in Series A funding. The investors in the Series A include Bell Ventures (venture arm of Bell Canada) and Sandpiper Ventures. The round also saw support from existing shareholders, Export Development Canada, BKR Capital, The Firehood Angels, and Graphite Ventures. Additional investors include Global Risk Institute President and CEO Sonia Baxendale; Tricon and Cidel Co-founder Geoffrey Matus; former Home Depot Canada CEO and current NRStor CEO Annette Verschuren; and business lawyer and Distinguished Counsel in Residence at Toronto Metropolitan University Ralph Lean. Plus, Protexxa has welcomed a new advisor Dr. Donette Chin-Loy Chang.

Monarch Tractor Raises $133 Million In Series C Funding

By Amit Chowdhry ● Jul 22, 2024

Monarch Tractor, the creator of the world's first fully electric, driver-optional smart tractor and Wingspan Ag Intelligence (WingspanAI) farm management platform called MK-V announced $133 million in Series C funding, making it the largest round in agricultural robotics history. This funding was co-led by global impact investor Astanor and HH-CTBC Partnership, L.P., with additional support from prominent investors, including At One Ventures, PMV, and The Welvaartsfonds.

Standard Bots: Robotics Automation Company Closes $63 Million

By Amit Chowdhry ● Jul 22, 2024

Standard Bots, a robotics automation leader, announced it has raised $63 million in total funding, with its recent Series B round led by General Catalyst with participation from Amazon Industrial Innovation Fund and Samsung Next. Lachy Groom, Quiet Capital, 468 Capital, Lightscape Partners, and Box Group provided additional venture capital support.

Arrcus: Hyperscale Networking Company Closes $30 Million In Funding

By Amit Chowdhry ● Jul 22, 2024

Arrcus, a hyperscale networking software company and a leader in core, edge, and multi-cloud routing and switching infrastructure, announced a significant new investment of $30 million from Prosperity7 Ventures, NVIDIA, Lightspeed, Hitachi Ventures, Liberty Global, Clear Ventures, and General Catalyst.