Venture Capital

Biostate AI: Scalable Biodata Foundry Company Raises Over $4 Million

By Amit Chowdhry ● Jul 12, 2024

Biostate AI, a scalable biodata foundry startup, emerged from stealth recently with the launch of two service products: Total RNA sequencing and Copilot for RNAseq data analysis. Biostate AI also revealed it has raised over $4 million in venture funding. Matter Venture Partners led the funding round, with participation from institutional investors Vision Plus Capital, Catapult VC, and the California Institute of Technology through the Caltech Seed Fund. Individual investors in the round included Dario Amodei (CEO of Anthropic), Joris Poort (CEO of Rescale), Michael Schnall-Levin (CTO of 10X Genomics) and Emily Leproust (CEO of Twist Bioscience).

Beacon Therapeutics: Ophthalmic Gene Therapy Company Raises $170 Million

By Amit Chowdhry ● Jul 12, 2024

Beacon Therapeutics, a leading ophthalmic gene therapy company with a goal of saving and restoring the vision of patients with blinding retinal diseases, announced it has raised $170 million in Series B funding.

Hack VC: How This $425 Million Firm Is Transforming The web3 Industry

By Amit Chowdhry ● Jul 12, 2024

Hack VC is a web3 venture capital firm that partners on- and off-chain with hackers, building the future of the internet. Pulse 2.0 interviewed Hack VC managing partner Alex Pack to learn more about the firm.

VenoStent: $20 Million Series A Raised To Develop Therapeutic Device For Improving Dialysis Patient Outcomes

By Amit Chowdhry ● Jul 11, 2024

VenoStent, a clinical-stage medical device company developing a novel therapeutic device for improving dialysis patient outcomes, announced that it closed an additional $4 million from Norwest Venture Partners to round out its Series A financing at $20 million with Good Growth Capital and IAG Capital Partners co-leading the deal. Plus, the company was awarded a $3.6 million Small Business Innovation Research (SBIR) Phase II Grant by the National Institutes of Health (NIH), which will help fund its multi-center, 200-patient, randomized controlled trial (RCT) in the US.

Phaidra: $12 Million Secured To Help Data Centers Improve Energy Efficiency

By Amit Chowdhry ● Jul 11, 2024

Phaidra (an AI-based control system that helps facilities like data centers improve energy efficiency and increase compute infrastructure) announced $12 million in new funding led by Index Ventures, bringing the total capital raised to $60.5 million.

Myricx Bio Raises £90 Million In Series A To Develop Pay Class For Antibody-Drug Conjugates

By Amit Chowdhry ● Jul 11, 2024

Life science investor Novo Holdings announced that it has co-led a £90 million ($114 million) Series A financing for Myricx Bio, the largest European biotech Series A funding this year. Myricx Bio is a UK biotech company focusing on the discovery and development of a novel payload class for antibody-drug conjugates (ADCs).

HarmonyCares: $200 Million Raised For Advancing In-Home Primary Care Access

By Amit Chowdhry ● Jul 11, 2024

HarmonyCares, a leading provider of value-based in-home longitudinal care, announced that it has raised $200 million of capital to bring its integrated, physician-led in-home care model to more vulnerable patients nationwide.

Niva: Business Identity Platform Company Raises Over $3.3 Million

By Amit Chowdhry ● Jul 11, 2024

Global business identity platform company Niva has officially launched and the company introduced an AI-based solution built to overcome the challenges of establishing trust in businesses internationally. With renowned customers and over $3.3 million in funding led by Gradient Ventures (Google’s AI-focused venture fund) along with participation from Picus Capital, Canary, Gilgamesh Ventures, and key executives from Chime, Deel, Enigma, and Faire, Niva is prepared to transform the complex landscape of global commerce.

K Health: AI Primary Care Platform Company Raises $50 Million

By Amit Chowdhry ● Jul 11, 2024

K Health, a leading AI Primary Care platform, announced that it has raised $50 million in funding led by Claure Group, with participation from investors including Pablo Legorreta (founder and CEO of Royalty Pharma), and existing investors Mangrove Capital Partners, Valor Equity Partners, and Atreides Management, LP.

American Discovery Capital: Fund II Closed At $190 Million

By Amit Chowdhry ● Jul 11, 2024

American Discovery Capital (ADC), a leading merchant bank focused on founder-led and family-owned companies operating in the lower middle market, announced the final closing of American Discovery Fund II (ADF II) at $190 million. This represents more than a threefold increase over ADC's first fund, American Discovery Fund I (ADF I).

Togetherwork: Member-Based Organization Payment Platform Company Raises Funding

By Amit Chowdhry ● Jul 11, 2024

Togetherwork, a leading provider of integrated software and payment solutions to groups and organizations, announced that Park Square Capital has made a significant minority investment in the company, joining GI Partners as investors.

New Mountain Capital: $15.4 Billion Closed For Fund VII

By Amit Chowdhry ● Jul 11, 2024

New Mountain Capital, a leading growth-oriented alternative investment firm based in New York, announced the $15.4 billion closing of its seventh control/control-oriented fund, New Mountain Partners VII, L.P. and its related vehicles (Fund VII). And New Mountain describes itself as a business that builds businesses and has generated over $85 billion of enterprise value gains in its private equity companies since the firm’s inception, without one PE bankruptcy or missed interest payment.

Tembo: Postgres Managed Service Company Raises $14 Million

By Amit Chowdhry ● Jul 11, 2024

Tembo, a Postgres managed service, announced the successful closure of a $14 million Series A funding round. And GreatPoint Ventures led the investment with participation from Venrock, Grand Ventures, Wireframe Ventures, Defined Capital, and Cintrifuse Capital, along with prominent angels.

Iron Path Capital: Fund I Surpasses Target At $273 Million

By Amit Chowdhry ● Jul 11, 2024

Iron Path Capital (IPC), an operationally focused private equity firm investing in the specialty industrials and healthcare sectors, announced the final closing of Iron Path Capital Fund I, exceeding the $250 million target with total commitments of $273 million.

Granza Bio: Therapeutic Delivery Platform Company Closes Over $7 Million In Seed Funding

By Amit Chowdhry ● Jul 11, 2024

Therapeutic delivery platform company Granza Bio announced the closing of its oversubscribed $7.14 million Seed led by Felicis and Refactor, along with Y Combinator and notable angel investors. The funding round also includes participation from other investors, including Metaplanet, Zeno Ventures, Ritual Capital, Pioneer Fund, Oxford Angel Fund, and North South Ventures. Notable angels joined the round including Richard Aberman (former YC Visiting Group Partner), JJ Fliegelman (former YC Visiting Group Partner), Eric Migicovsky (former YC Group Partner), Eric Eldon (former editor of TechCrunch), Eli Brown (founder of Guilded), Eoghan Mccabe (founder of Intercom), Benjamin Bryant (co-founder of Earbits), Yotam Rosenbaum (co-founder of Earbits), Will Olsen (co-founder of Engage Bio) and Joel Meyer.

QED Protocol: Native Bitcoin Execution Layer Company Raises $6 Million

By Amit Chowdhry ● Jul 11, 2024

QED Protocol, the first zk-native execution layer for powering the Web3 ecosystem emerging on Bitcoin, announced that it has raised $6 million in a funding round led by Blockchain Capital. This new funding round furthers supports QED’s mission of utilizing its novel technology to unlock unparalleled performance for smart contracts, layer-two solutions, and various Web3 applications.

HR Path Closes €500 Million In Funding

By Amit Chowdhry ● Jul 11, 2024

HR Path, a leader in HR consulting, announced a record €500 million fundraising from Ardian, a private investment house. This fundraising, which is the largest in the company's history, marks a significant milestone in HR Path's success story. This funding will play a major role in driving the next phase of HR Path's growth and international expansion in the United States, Canada, Germany, the Nordic countries, and Australia.

Tierra Encantada: $38 Million Primary Growth Investment Raised From Susquehanna

By Amit Chowdhry ● Jul 10, 2024

Tierra Encantada, a leader in Spanish immersion early education, announced a significant minority growth investment from Susquehanna Growth Equity (SGE), an entrepreneur-centric growth equity firm. And this milestone marks Tierra Encantada’s first institutional investment since their founding in 2013 and underscores their accelerated influence in the youth enrichment market.

EvolutionaryScale: Biology AI Research Lab Company Raises $142 Million In Seed Funding

By Amit Chowdhry ● Jul 10, 2024

EvolutionaryScale, a frontier AI research lab for biology, launched recently with ESM3, a milestone AI model capable of generating novel proteins. ESM3 generated a new Green Fluorescent Protein (GFP), which is a process that would take 500 million years of evolution to occur naturally. The company also announced a seed round of more than $142 million, led by Nat Friedman and Daniel Gross, and Lux Capital, with participation from Amazon, NVentures (NVIDIA’s venture capital arm) and angel investors. This funding will be used for further expanding the capabilities of its models.

Rohirrim: RFP AI Automation Company Raises Funding From Bessemer And IBM Ventures

By Amit Chowdhry ● Jul 10, 2024

Rohirrim, a leading Request for Proposal (RFP) AI automation platform, announced today that Bessemer Venture Partners and IBM Ventures made strategic investments in the company. And these investments will further drive Rohirrim's goal of helping businesses grow by streamlining and strengthening their RFP response strategy.

Barn2Door Secures Growth Funding From Decathlon Capital Partners

By Amit Chowdhry ● Jul 10, 2024

Barn2Door, a rapidly growing software company focused on helping farmers sell directly to the market, announced it has landed a significant investment from Decathlon Capital Partners. The details of the revenue-based funding transaction were not disclosed.

SmartHR: HR Management Platform Company Raises $140 Million In Series E

By Amit Chowdhry ● Jul 10, 2024

Leading global investment firm KKR and Teachers’ Venture Growth (TVG), which is the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, announced the signing of definitive agreements under which KKR (on behalf of funds managed by it) and TVG will jointly lead a $140 million (JPY 21.4 billion) Series E fundraise of SmartHR, a leading cloud-native human resources management platform in Japan, with participation from existing shareholders.

X-Bow: Solid Rocket Motor Producer Company Raises Over $70 Million

By Amit Chowdhry ● Jul 10, 2024

X-Bow Systems, a leading non-traditional producer of advanced manufactured solid rocket motors (SRMs) and hypersonics technologies, today announced the completion of the initial close of its Series B financing, raising over $70 million. The funding round was led by National Security technology-focused growth equity firm Razor's Edge, with additional participation from Lockheed Martin Ventures, Boeing Ventures, Crosslink Capital, and Balerion Space Ventures.

QX Global Group: Over £100 Million Growth Investment Raised From Long Ridge Equity Partners

By Amit Chowdhry ● Jul 10, 2024

QX Global Group, a leading business process management (BPM) service provider, announced that it has secured a growth investment of £100+ million from Long Ridge Equity Partners. QX specializes in business & digital transformation, BPM, and consulting services within the accounting, recruitment, real estate, manufacturing, public sector, higher education, healthcare, consumer packaged goods, retail, and utilities and energy sectors.

Bridge Bank: $47 Million Term Loan Closed For Supporting Divergent Technologies

By Amit Chowdhry ● Jul 10, 2024

Bridge Bank announced that its Technology Banking Group announced it has closed a $47 million term loan with Divergent Technologies to support the company’s continued growth. Divergent utilizes a data-driven approach for designing and building vehicle structures with the Divergent Adaptive Production System (DAPS) - which is the world’s first end-to-end software-hardware production system for industrial digital manufacturing for automotive, aerospace, and defense applications.

Coder Secures $35 Million For Modernizing Enterprise Development Environments

By Amit Chowdhry ● Jul 10, 2024

Coder, a development platform keeping developers in flow, announced it has secured $35 million in funding to broaden its open source footprint, evolve cloud development environments (CDEs), and expand globally. Georgian led the round and they were joined by existing investors Uncork Capital, Notable Capital, and Redpoint Ventures. This funding brings Coder's total Series B funding to $65 million. And Russell Moore (investor at Georgian) will join Coder's Board of Directors.

Natcap Raises $10 Million To Embed Nature-Related Risks Into Business Strategies

By Amit Chowdhry ● Jul 10, 2024

Natural Capital Research Limited (Natcap) announced it has secured $10 million in an oversubscribed Series A funding round to scale its pioneering nature tech product. And Natcap had secured new funding from André Hoffmann, Norinchukin Capital, Yeo Ventures, and Pelican Ag. And the round also includes investment from former CEO of Refinitiv David Craig, and follow-on investments from Oxford Science Enterprises, funds advised by MW&L Capital Partners, and Alea Iacta Est, all of which participated in the company’s £2.5 million seed round last year.

Orby AI: $30 Million Raised To Develop AI Solutions For Enterprises

By Amit Chowdhry ● Jul 10, 2024

Orby AI, a company developing generative AI solutions for the enterprise, announced the closing of its $30 million series A round of financing. The Series A round was co-led by New Enterprise Associates (NEA), Wing VC, and WndrCo, with additional participation from Pear VC.

Augustine Therapeutics: €17 Million Raised For Developing Neurodegenerative And Cardiometabolic Disease Treatments

By Amit Chowdhry ● Jul 10, 2024

Augustine Therapeutics, a pioneering biotech company focused on novel treatments for neurodegenerative and cardiometabolic diseases, announced that it has raised €17 million in the first closing of its Series A round. This funding round was led by Asabys Partners, with participation from Eli Lilly and Company, and the US-based Charcot-Marie-Tooth Research Foundation. The current investors AdBio partners, V-Bio Ventures, PMV, VIB and Gemma Frisius Fund also joined the round.

Holoclara: $16 Million Secured To Develop Worm-Derived Therapies For Allergies And Autoimmune Disorders

By Amit Chowdhry ● Jul 10, 2024

Holoclara, a biotechnology company that is pioneering the development of worm-derived therapies for allergies and autoimmune disorders, today announced the completion of an oversubscribed $16 million Series A funding led by BOLD Capital Partners. And Horizons Ventures, Tarrasque, Endurance28, Freeflow Ventures, and a syndicate of leading angel investors also participated in the round.