| |
In today's Daily Pitch, you'll find: - An analysis of how food delivery services brought home a strong Q2 for the foodtech market.
- SaaS Ventures' Collin Gutman explores venture ecosystems outside traditional tech hubs for the "In Visible Capital" podcast.
| | | | | |
|
| |
| Ultrafast groceries, microalgae highlight Q2 in foodtech | | Fueled by rapid consumer adoption of restaurant and grocery delivery services, the foodtech vertical delivered another strong quarter in Q2 with startups around the world raising $6.2 billion across 280 deals.
Our latest Emerging Tech Research report explores VC activity in the foodtech sector, highlighting key deals, exits and industry opportunities in the food delivery market.
Key takeaways include: - Ecommerce-focused food suppliers led Q2 funding with $3.1 billion invested across 29 deals.
- Ultrafast grocery, the latest online food delivery trend, is characterized by startups offering 20-minute-or-less delivery of goods, betting on consumers who prefer spontaneous food orders over trips to the store.
- The latest protein to garner VC attention is microalgae. Several corporate food companies have formed partnerships with microalgae providers to develop new plant-based products and reduce their carbon footprint.
- The food delivery market in India is estimated to exceed $21 billion by 2026. As the market is large and underpenetrated, we believe ghost kitchens may play a greater role in the development of India's food delivery market.
| | | | | | | | | | On the podcast: Venturing outside Silicon Valley | | Over the past decade-plus, venture capital investors have been searching for the next Silicon Valley. And the COVID-19 pandemic accelerated the hunt, with industry heavyweights touting the benefits of moving to cities that embrace tech culture.
Collin Gutman, co-founder and managing partner at SaaS Ventures, joined the "In Visible Capital" podcast to discuss what it takes to grow venture ecosystems in cities outside traditional tech hubs, and why he's more bullish than ever on the future of tech. The episode is sponsored by Vanta. Topics include: - How Miami has emerged as a destination for tech companies and VC, and what other cities could soon follow suit.
- How a mix of state-run funds and private capital can contribute to building a startup ecosystem.
- Why institutional investors should think about geographical diversity when teaming with startups.
| | | | | | | |
|
| A message from the National Science Foundation | | |
| | Caribou Biosciences, a UC Berkeley spinout, uses a CRISPR-based approach to develop "off-the-shelf" therapies and potentially broaden the use of engineered immune cells in cancer treatments. The company recently raised $304 million.
Caribou Biosciences (NSF-1315621) is one of hundreds of deep tech startups funded annually by the National Science Foundation, a government agency that plays a central role in accelerating discoveries into the marketplace.
Each startup can receive up to $2 million to support translational research and development. NSF helps teams navigate the earliest stages of technology translation, investing roughly $200 million annually in startups. In the last five years, these companies have gone on to raise billions in follow-on capital, and the portfolio has had 100-plus exits.
Learn more about NSF funding at seedfund.nsf.gov. | | | | | | | |
|
| Moove continues hot streak for African fintech startups | |  | | (CatLane/Getty Images) | | | Moove, a provider of revenue-based vehicle financing services for drivers in Africa, has collected a $23 million Series A co-led by Speedinvest and Left Lane Capital. The company also announced it has raised $40 million in debt.
The Nigerian startup, which caters to the continent with the lowest per capita vehicle ownership in the world, is Uber's exclusive car financing and vehicle supply partner in sub-Saharan Africa. Clocktower Technology Ventures and Spartech Ventures also participated in the funding, among others.
Moove is the latest entrant in the African fintech market to attract investor attention in 2021. Fintech startups in the region have secured around $330.5 million in H1, more than double the amount raised the entire year before, according to a report from Disrupt Africa, a tech-focused research and news organization based in the continent.
Related read: Is Africa fintech's next frontier? | | | | | | | | | | Big tech may be arriving in small towns across the US, but there's a catch. [Time]
Why have the retail versions of private equity vehicles performed so poorly? Blame big promises and fat fees. [Forbes]
The autonomous driving future faces complex decisions like what a self-driving car should do in the face of an oncoming crash. But what if we could stop vehicles from getting into life-or-death situations in the first place? [The Washington Post] | | | | | |
|
| |
| | Since yesterday, the PitchBook Platform added: | | 418 Deals | 1310 People | 359 Companies | 25 Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| 2018 Vintage North American Funds-of-Funds | | | | | | |
|
| |
| A message from NetSuite and ContinuServe | | |
| NetSuite and ContinuServe join forces to deliver carveouts at deal speed | | ContinuServe uses NetSuite technology to deliver carveouts in a new solution that brings the leading cloud-based enterprise resource planning solution together with a premier business process outsourcing provider.
ContinuServe acquires NetSuite on behalf of the client and drives the technology carveout using proprietary tools to stand up a functional enterprise class NetSuite solution faster than comparable solutions. Once the business is operational, ContinuServe seamlessly transitions ownership of the system without a need for reimplementation or data migration, reducing risk and financial strain on both the private equity firm and the carveout.
NetSuite's preconfigured industry-specific ERP solution is the leading cloud-native solution and the No. 1 solution for carveouts.
To learn more about this new solution and how it drives value, download this compelling white paper. | | | | | | | |
|
| |
| | | Indian edtech startup UpGrad was valued at $1.2 billion after raising $185 million, according to reports. Temasek led the round with participation from IFC and IIFL. The company, which targets the higher education market, was said to be valued at over $600 million in April. | | | | | | | | Snorkel AI lands $85M Series C at unicorn valuation | | | Snorkel AI has raised $85 million at a $1 billion valuation in a round co-led by Addition and BlackRock. The Palo Alto-based startup helps data scientists and developers build AI applications via machine learning tools that label and manage datasets. Founded in 2019 by a team spun out of the Stanford AI Lab, Snorkel AI was valued at $135 million in April, according to PitchBook data. | | | | | | | | LawVu picks up new funding | | | LawVu has raised a NZ$17 million (around $11.9 million) Series A led by Insight Partners. The legal tech startup is the developer of a cloud-based platform designed to help companies such as Nissan and Fonterra manage legal operations and access third-party collaboration tools. | | | | | |
|
| |
| |
| Brookfield strikes $5.1B deal for American National | | | The reinsurance unit of Brookfield Asset Management has agreed to acquire American National Group in an all-cash deal valued at approximately $5.1 billion. Brookfield will pay $190 per share for the Galveston, Texas-based company, marking a 10% premium to American National's Friday closing price. American National offers life, health, property and other insurance products and has nearly $30 billion in assets. | | | | | | | | Sun Capital to take building products company private for $411M | | | Sun Capital Partners has agreed to purchase Select Interior Concepts, an Atlanta-based distributor of interior building products, for approximately $411 million in cash. As part of the public-to-private deal, Sun Capital will pay $14.50 per Select Interior Concepts share, representing a 32% premium to the company's Aug. 6 closing price. | | | | | | | | Permira to acquire majority stake in German real estate platform | | | Permira has agreed to pick up a majority stake in Engel & Völkers, a Germany-based international property brokerage platform. The stake is worth an estimated €400 million (about $470 million), German newspaper Handelsblatt reported. Established in 1977, Engel & Völkers currently serves more than 11,500 real estate agents across 900 locations in over 30 countries. The Völkers family and part of the management team will retain a nearly 40% stake in the company as part of the deal. | | | | | | | | Bansk to buy Arcadia Consumer Healthcare in SBO | | | | | | |
|
| |
| SpaceX to take off with Swarm | | | Elon Musk's SpaceX is acquiring satellite specialist Swarm for an undisclosed sum, according to documents filed with the Federal Communications Commission. Swarm operates a network of small satellites that connect to internet of things devices. The Bay Area startup has been backed by Craft Ventures and Social Capital. It was valued at $85 million in 2019, according to PitchBook data. | | | | | | | | Cannabis marketplace Leafly to go public through SPAC merger | | | Online cannabis marketplace Leafly has agreed to go public through a reverse merger with special-purpose acquisition company Merida Merger Corp. I. The deal gives the combined entity an equity value of around $532 million. Through its website and mobile app, Seattle-based Leafly helps over 125 million customers choose cannabis products from licensed retailers. The company was acquired by private equity firm Privateer Holdings in 2011; it is currently backed by investors including Growcore and Subversive Capital. | | | | | |
|
| |
| Advent seeks $3B for next tech vehicle | | | Advent International has set a $3 billion target for its second tech-focused fund, according to The Wall Street Journal. The firm closed its debut tech-focused fund on $2 billion in 2019, with part of its strategy focusing on co-investments in middle-market and large-cap tech companies alongside the firm's flagship vehicle. | | | | | | | | Craft Ventures expands into growth deals, locks down $1.1B in new funds | | | Early-stage investor Craft Ventures has announced that it's moving into growth deals as part of more than $1 billion in funds raised across two new vehicles. The San Francisco-based firm, which specializes in backing SaaS and marketplace startups, said it raised $612 million for its third flagship fund, along with $510 million for its debut growth effort. Craft's portfolio includes SourceGraph, ClickUp and CloudTrucks. | | | | | | | | Sands Capital collects $560M for latest life sciences fund | | | Sands Capital has closed its second vehicle dedicated to life sciences investments on $560 million. The fund will be used to continue Sands' focus on backing companies that provide private therapeutics, diagnostics and life sciences tools. The Arlington, Va.-based firm launched the first vehicle in the strategy in 2018 and has invested in 20 life sciences businesses to date. | | | | | | | | Energy Capital Ventures raises $45M for ESG-focused fund | | | | | | |
|
| |
| DraftKings set to land Golden Nugget's online gaming platform for $1.5B+ | | | Sports-betting and online gaming giant DraftKings has reportedly agreed to purchase Golden Nugget's online gaming business for $1.56 billion. The deal follows rival sportsbook Penn National Gaming's Aug. 5 agreement to acquire Toronto-based Score Media and Gaming for $2 billion in cash and stock. Golden Nugget Online Gaming shares were up over 50% at market close, following news of the merger. | | | | | |
|
| |
| |
|
No comments:
Post a Comment