Venture Capital

Triomics: Oncology Workflow Automation Company Raises $15 Million

By Amit Chowdhry ● May 20, 2024

Oncology staff usually search thousands of patient health records to find the right patient trials or care pathways. So, Triomics has raised $15 million to help cancer centers streamline these workflows and process oncology data at scale by applying its framework to build institution-tuned large language models (OncoLLM) and use case-specific software. The funding was raised from several Silicon Valley firms making pioneering investments in generative AI and healthcare, such as Lightspeed, Nexus Venture Partners, General Catalyst, and Y Combinator.

Rev1 Ventures: $6 Million FVFII Closed To Support Central Ohio Companies

By Amit Chowdhry ● May 20, 2024

Rev1 Ventures, a venture studio that helps entrepreneurs and corporations accelerate innovation, announced it is launching the Future Value Fund II (FVFII), a $6 million pre-seed and seed capital fund to support Central Ohio companies, focusing on tech companies underserved by venture capital. Rev1 Ventures is providing $3 million in private investment, which is being matched by the Ohio Department of Development State Small Business Credit Initiative (SSBCI) Ohio Early Stage Focus Fund Program.

Patron Capital: Over €860 Million Raised For Seventh Fund

By Amit Chowdhry ● May 20, 2024

Patron Capital, a pan-European institutional investor focused on property-backed investments, has closed its seventh flagship fund at over $920 million, including more than $215 million of Patron discretionary co-investment capital for more significant opportunities.

Progentos Therapeutics: $65 Million Raised To Address Unmet Needs To Regenerate Myelin And Restore Function For Patients With MS

By Amit Chowdhry ● May 20, 2024

Progentos Therapeutics, a biotechnology company addressing the unmet need to regenerate myelin and restore function for patients with Multiple Sclerosis (MS) and other demyelinating diseases, announced its launch and the closing of a $65 million series A round. This funding round will enable Progentos to advance its MS program through human proof-of-concept studies and expand its pipeline in additional degenerative diseases.

Switchboard Health: $6.5 Million Secured To Help Deliver Value-Based Specialty Care

By Amit Chowdhry ● May 20, 2024

Switchboard Health, the creator of a high-value specialty care network and software platform, announced it secured $6.5 million in series seed funding. First Trust Capital Partners’ investment led the round, with participation from founding investor Route 66 Ventures, InnovateHealth Ventures, Capital Eleven, and Ikigai Growth Partners.

97212 Ventures: $20 Million Fund Closed To Help Israeli Tech Founders Grow Businesses

By Amit Chowdhry ● May 20, 2024

97212 Ventures, a NY next-generation VC and day-one partner for Israeli founders, announced the closing of a $20 million fund focused on investing in new Israeli pre-seed and seed startups, providing them instant access to a pool of rich New York resources to grow their businesses including key senior advisors, early customers and channel partners, paving the way to US product-market fit and early growth.

Chapter: Medicare Navigation Platform Company Raises $50 Million

By Amit Chowdhry ● May 20, 2024

Chapter, a rapidly growing Medicare navigation platform, announced that it raised $50 million in Series C funding, led by XYZ Venture Capital and with participation from existing investors Narya Capital, Addition, Susa Ventures, and Maverick Ventures.

FalconPoint Partners: Over $250 Million Invested In JENNMAR

By Amit Chowdhry ● May 20, 2024

FalconPoint Partners, a PE firm focused on investing in North American middle market companies in the business services and industrials sectors, announced its inaugural investment in JENNMAR, a leading global provider of infrastructure products and specialized services to the civil infrastructure, solar, mining, and construction industries. JENNMAR will continue to be led by CEO Tony Calandra and the rest of its management team. FalconPoint has invested and committed in excess of $250 million of equity to support the JENNMAR’s expansion and global growth.

Cheetah Technologies: Restaurant Supply Tech Company Raises $14 Million

By Amit Chowdhry ● May 20, 2024

Cheetah Technologies, a restaurant supply technology and food distribution innovator, announced the appointment of their new CEO Kim Spalding. In the last few months, Spalding and the Cheetah board collaborated on an additional $14 million funding round, focused on the continued development and scaling of the company's technology platform.

Fairgen: $8 Million Secured To Generate Accurate AI Responses To Surveys

By Amit Chowdhry ● May 20, 2024

Fairgen, a company generating accurate AI responses to surveys, announced it had raised $8 million to date in Seed funding, led by Maverick Ventures Israel, with participation from Tal Ventures, IGNIA, and Creator Fund to move consumer insights into the AI era. And the company is launching FairBoost, its flagship solution that doubles the size of under-sampled segments using predictive synthetic responses.

Attovia Therapeutics: $105 Million Raised To Create A Pipeline Of Biotherapeutics With A Focus On Immune-Mediated Diseases

By Amit Chowdhry ● May 20, 2024

Attovia Therapeutics announced the closing of a $105 million oversubscribed Series B financing, bringing the total funding raised by the company since its launch in June 2023 to $165 million. The proceeds from the financing will be used to advance the Company’s lead programs ATTO-1310 and ATTO-002 through initial clinical data readouts, expand the company’s immunology and inflammation pipeline, and further develop the Attobody platform.

C3 Rentals: Trailer Rental And Ownership Solutions Company Secures $100 Million Debt Facility

By Amit Chowdhry ● May 19, 2024

C3 Rentals, a leader in trailer rental and ownership solutions, announced it secured a $100 million debt facility funded by WhiteHawk Capital Partners and arranged by Ankura Capital Advisors. This strategic funding will increase liquidity and support the company's future working capital needs, enabling further expansion across the US.

Canopy: $35 Million Secured To Help Accountants Build Sophisticated Firms

By Amit Chowdhry ● May 19, 2024

Canopy - a firm-wide operating system helping accountants build the firms they always wanted - announced it raised $35 million in an oversubscribed funding round. This funding round was led by Ten Coves Capital and Ankona Capital, with participation from Pelion Venture Partners, Tenaya Capital, and NewView Capital. The $35 million funding round will be channeled towards doubling down on Canopy’s vision for leveraging AI to make firms exponentially more efficient.

May Health: $25 Million Secured To Help Those Living With PCOS

By Amit Chowdhry ● May 19, 2024

May Health, a clinical-stage medical device company dedicated to helping those living with the endocrine disorder polycystic ovary syndrome (PCOS), announced it has closed a $25 million Series B financing round, co-led by Bpifrance and Trill Impact with participation from founding investor Sofinnova Partners, and Avestria Ventures and Kidron Capital Assets LP.

Mercurius Media Capital Launches New $50M+ Fund For Investing In High-Growth US Startups

By Amit Chowdhry ● May 19, 2024

Mercurius Media Capital (MMC) has launched a new $50+ million independent media fund in the US. And this fund strategically deploys the inventory of its media partners into brands with a robust presence in the US, aimed at expediting startup growth.

Bluejay Therapeutics Secures $182 Million in Series C Financing to Propel Clinical Pipeline

By Amit Chowdhry ● May 19, 2024

Bluejay Therapeutics, a leader in developing novel therapeutics, today announced the successful closure of a $182 million Series C financing round. This capital infusion will accelerate the clinical development of BJT-778, as the treatment for chronic hepatitis D (HDV). The funds will also support the progression of additional promising candidates in Bluejay’s robust pipeline for the treatment for chronic hepatitis B. As previously announced, BJT-778 has received PRIME designation from EMA based on early results from the Phase 1/2 study in HDV.

Pepper: Food Distribution Sector Company Raises $30 Million

By Amit Chowdhry ● May 19, 2024

Pepper, a trusted technology partner for the food distribution sector, announced the successful closing of a $30 million Series B funding round. This significant funding round was led by ICONIQ Growth, with continued participation from existing partners at Index Ventures, Greylock, Imaginary, and Harmony Partners.

Wiz: Cloud Security Company Raises $1 Billion At $12 Billion Valuation

By Amit Chowdhry ● May 19, 2024

Cloud security company Wiz recently raised $1 billion at a $12 billion valuation, bringing the company's total funding to $1.9 billion. The current round was led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital, with participation from Greylock, Wellington Management, and existing investors Cyberstarts, Greenoaks, Howard Schultz, Index Ventures, Salesforce Ventures, and Sequoia Capital.

In-House Health: AI-Powered Nurse Scheduling Platform Secures $4 Million

By Amit Chowdhry ● May 18, 2024

In-House Health has formally launched its AI-driven scheduling and management platform for modern nursing teams. The company recently raised $4 million in seed funding, led by NEA and TMV, with participation from pre-seed investors Vine Ventures and Longevity Venture Partners. This brings the total investment to date to $5.4 million.

Nami Surgical: Robotic-Assisted Surgery Company Raises $4 Million

By Amit Chowdhry ● May 18, 2024

Nami Surgical, a company aiming to transform the robotic-assisted surgery market with a breakthrough ultrasonic platform, has secured $4 million of investment and grant funding. St Andrews-based impact investment firm Eos Advisory led the seed $3.1 million round alongside the Investment Fund for Scotland, which is managed by UK private equity firm Maven and delivered by British Business Bank, Scottish Enterprise, and SIS Ventures. The company was also separately awarded a grant from Innovate UK, the United Kingdom’s national innovation agency.

Aardvark Therapeutics: $85 Million Raised To Develop Therapeutics For Activating Innate Homeostatic Pathways To Treat Metabolic Diseases

By Amit Chowdhry ● May 18, 2024

Aardvark Therapeutics has raised an $85 million oversubscribed Series C financing led by Decheng Capital, with participation from Cormorant Asset Management, Surveyor Capital, SymBiosis, Tetragon Financial Group, Walleye Capital, Laurion Capital Management, LG Technology Ventures, Cantor Ventures, Silver Arc Private Capital, The Prader-Willi Syndrome Association – USA, and existing investors, including Vickers Venture Partners and the Foundation for Prader-Willi Research. Decheng Capital's Managing Director, Victor Tong, Jr., joined Aardvark's board of Directors in connection with the investment.

FleetPulse: Trailer Telematics Solution Closes $11 Million In Funding

By Amit Chowdhry ● May 18, 2024

FleetPulse, a trailer telematics solution incubated within Great Dane, announced its launch as an independent company. And FleetPulse is now capitalized with $11 million, including seed funding led by Four More Capital. The company has also named former Uber Freight executive Carl-Christoph “CCR” Reckers as Chief Executive Officer.

GoodShip: Freight Network Orchestration And Procurement Company Secures $8 Million

By Amit Chowdhry ● May 18, 2024

GoodShip, an all-in-one platform for freight network orchestration and procurement, announced an $8 million Series A funding round led by Bessemer Venture Partners. This funding round brings GoodShip’s total funding to $15.4 million. It includes continued investment from Ironspring Ventures, Chicago Ventures, FUSE VC, and Cercano Management, with new participation from 53 Stations, Andrew Silver, Nichole Wischoff, and other angels.

Xona: $19 Million Raised To Develop A Network Of Small Satellites

By Amit Chowdhry ● May 18, 2024

Xona Space Systems - a company that is developing a network of small satellites to provide high-precision navigation services - announced an oversubscribed $19 million Series A funding round led by Future Ventures and Seraphim Space. And new investors NGP Capital, Industrious Ventures, Murata Electronics, Space Capital, and Aloniq also joined the round.

Arbelos Markets: Crypto Derivatives Liquidity Provider Raises $28 Million

By Amit Chowdhry ● May 17, 2024

Arbelos Markets, a principal liquidity provider in crypto derivatives markets, announced that it has raised $28 million in a mix of seed equity and debt financing led by Dragonfly Capital to build transparency-based trading infrastructure and offer bilateral and on-exchange liquidity in options and futures products. The investment firms Room40 Ventures, Selini Capital and Breed VC, corporate partners FalconX, Circle Ventures, Paxos, P2 Ventures (formerly Polygon Ventures), Deribit, Chorus One, StarkWare and Immutable, and angel investors at Aevo, Cega, Talos, Amberdata, and Framework also participated in the significantly oversubscribed round. Arbelos Markets was founded in 2023 by veteran industry operators and derivative traders Joshua Lim and Shiliang Tang.

Averto Medical: $30 Million Secured To Pioneer Minimally Invasive Gastrointestinal Care Medical Devices

By Amit Chowdhry ● May 17, 2024

Averto Medical, a clinical-stage medical device company pioneering minimally invasive gastrointestinal care, announced the closing of an oversubscribed $30.5 million Series A financing. Cormorant Asset Management led the financing, which was participated in by Venrock Healthcare Capital Partners, LifeSci Venture Partners, CVF, and other investors.

CoreWeave: $7.5 Billion Debt Financing Facility Signed

By Amit Chowdhry ● May 17, 2024

AI hyperscaler company CoreWeave announced it has signed a definitive agreement for a $7.5 billion debt financing facility led by funds managed by Blackstone, with strategic participation from Magnetar (Co-Lead Investor) and Coatue. The participation in the funding also included Carlyle, CDPQ, DigitalBridge Credit, funds and accounts managed by BlackRock, Eldridge Industries, and Great Elm Capital Corp. This new funding will be used to develop further CoreWeave's growing fleet of high-performance computing to execute existing contracts with leading enterprise customers and AI innovators.

Altera: $9 Million Secured To Build ‘Digital Human Beings’

By Amit Chowdhry ● May 17, 2024

Altera, a company pushing the boundaries of artificial intelligence (AI) by creating digital human beings, announced it has closed a $9 million seed round. This funding round brings the total to $11.1 million since the company was founded in December 2023. Patron and First Spark Ventures co-led the round, joining a renowned list of investors that includes a16z SPEEDRUN, gaming industry veteran and investor Mitch Lasky, co-founder of Valorant Stephen Lim, Supercell executive board member Greg Harper, Duolingo CBO Bob Meese, Vertex Pharma co-founder Rich Aldrich, Vamos Ventures, Alumni Ventures, and others.

ChangeEngine: Internal Marketing And People Design Platform Company Raises $10 Million

By Amit Chowdhry ● May 17, 2024

ChangeEngine, an internal marketing and people design platform that enables companies to deploy best-in-class programs without requiring employees to log in to separate systems, has raised $10 million in Series A funding. This funding round was led by Threshold Ventures and joined by Struck Capital and Bonfire Ventures. And ChangeEngine also welcomed Josh Stein and Adam Struck to its Board of Directors.

Metabolon Raises $60 Million In Growth Capital From Trinity Capital

By Amit Chowdhry ● May 17, 2024

Trinity Capital, a leading provider of diversified financial solutions to growth-stage companies, announced the commitment of $60 million in growth capital to Metabolon - a global leader in providing metabolomics solutions advancing a wide variety of life science research, diagnostic, therapeutic development, and precision medicine applications.