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Inside Venture Capital

Inside Venture Capital (Feb 4th, 2018)

This week's VC Refresher looks into Wag!'s $300M funding round from SoftBank and into the larger dynamics emerging around the latter's $100B Vision Fund.

--VC Reads--

-- Bryce Roberts and Tim O’Reilly: VCs that help startups raise revenues, not rounds: The interview covers indie.vc’s approach and philosophy.

-- Startup Investor School: The Basics of Seed Investing: YC’s Geoff Ralston introduces the program’s school.

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--Industrial--

-- Tesla (San Francisco, CA), electric/self-driving vehicles: $546M Debt from undisclosed sources.

-- Joby Aviation (Santa Cruz, CA), all-electric vertical take-off and landing passenger aircraft: $100M B led by Intel Capital, participation from EDBI, JetBlue Technology, Toyota AI, Allen & Company, AME Cloud, Ron Conway, Capricorn Investment, 8VC, Sky Dayton, Paul Sciarra.

-- ZPower (Camarillo, CA), rechargeable silver-zinc batteries for microbattery applications: $25M from MidCap Financial, Apollo Investment Corporation.

-- RealWear (San Francisco, CA), manufacturing-process improvements for AR/VR equipment: $17M from undisclosed sources.

-- Nuburu (Centennial, CO), blue lasers: $15.5M from undisclosed sources.

-- Lightelligence (Boston, MA), light-based photonic circuits for computing purposes: $10M Seed led by Baidu.

--Biotech/Health--

-- Moderna (Cambridge, MA), messenger RNA therapeutics and vaccines: $500M from Abu Dhabi Investment Authority, BB Biotech, Julius Baer, EDBI, Sequoia, Fidelity, Pictet, Viking, ArrowMark, Alexandria.

-- Partner Therapeutics (Boston, MA), oncology therapeutics: $60M A from Perceptive Advisors, Adams St., MidCap.

-- Medopad (London, UK), AI-based healthcare platform: $26M A from China’s NWS Holdings, et al.

-- Zilico (Manchester, UK), cervical cancer diagnostic system: $19M from undisclosed sources.

--Consumer Internet--

-- BigBasket (India), online grocery store: $300M led by Alibaba, participation from Abraaj, Bessemer.

-- Zomato (India), online restaurant discovery and ordering platform: $200M led by Ant Financial.

-- Chezhency (China), auto trading platform: $15M B led by CCB, TusPark, participation from QF.

-- Mahindra First Choice Wheels (India), used vehicle services: $15M from undisclosed sources.

-- Furnishare (New York, NY), furniture sharing platform: $2M Seed from (reportedly) Lerer Hippeau, Correlation, Max, Richard Kerby, Nevzat Aydin, Firat Isbecer.

--Enterprise--

-- Figma (San Francisco, CA), design/collaboration/prototyping platform: $25M B led by Kleiner Perkins Caufield Byers, participation from Greylock, Index.

-- Wildmoka (Sophia Antipolis, France), live clipping, editing and publishing platform for broadcasters: $8M A led by Alven, participation from Apicap.

-- Prodigy (San Francisco, CA), automotive retail sales platform: $5.4M Seed from 8VC, SV Angel, Battery, CrunchFund, et al.

-- SaaSOptics (Atlanta, GA), B2B subscription management service: $5M A led by Fulcrum Equity Partners, participation from Tom Noonan, TechStars Ventures, Duke Angel Network.

--Foodtech--

-- Harmless Harvest (San Francisco, CA), refrigerated coconut water: $30M led by Danone Manifesto Ventures, participation from Mousse, AccelFoods.

--Lifestyle--

-- Joymode (Los Angeles, CA), products for offline experiences: $14.4M A led by Naspers Ventures.

-- Love, Bonito (Singapore), women's lifestyle clothing brand with online and offline presence: $13M B led by Kakaku.com, participation from NSI. Co-founder Rachel Lim was named to Forbes’ Asia 30Under30.

--Cybersecurity--

-- Owl (Palo Alto, CA), LTE-connected security camera for cars: $18M A from defy.vc, Khosla, Menlo, Sherpa, Moment, Maniv Mobility, CSAA.

--Dev--

-- Honeycomb (San Francisco, CA), visualization platform to help developers understand their own code: $11.5M A led by e.ventures, participation from Storm, NextWorld, Merian.

--Adtech/Martech--

-- Eyechronic, marketing platform for cannabis dispensaries: $3M A from Tuatara Capital, et al.

--Edtech--

-- Made Modern (New York, NY), products geared to engage children's creativity: $3M from Decathlon Capital Partners.

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--VC Refresher-- Earlier this week, SoftBank invested $300M of $100B Vision Fund into the US’ largest dog walking and care app, Wag!
Content for premium users only

This week's funding,  $4,719,050,000, came in $2B above the last year's average and median.

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--M&A/IPO/New Funds-- --M&A-- -- School photo provider Shutterfly acquires competitor Lifetouch, $825M. -- RELX Group
Content for premium users only

--Funding Breakdown--

--Industrial--

6 Deals: $713,500,000

--Biotech/Health--

4 Deals: $605,000,000

--Consumer Internet--

5 Deals: $532,000,000

--Enterprise--

4 Deals: $43,400,000

--Foodtech--

1 Deal: $30,000,000

--Lifestyle--

2 Deals: $27,400,000

--Cybersecurity--

1 Deal: $18,000,000

--Dev--

1 Deal: $11,500,000

--Adtech/Martech--

1 Deal: $3,000,000

--Edtech--

1 Deal: $3,000,000

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