Biolux Research, a Vancouver, Canada-based developer of innovative Light Accelerated Orthodontic products, closed a $14M Series A funding round. The round was led by Venrock and joined by Correlation Ventures, insiders and other investors. Biolux manufactures OrthoPulse®, an FDA cleared orthodontic device currently being sold in the United States, Europe, and Asia. OrthoPulse is a non-invasive technology which, when used ten minutes each day, can accelerate orthodontic treatment. More
Companies are on the hunt for ways to reduce the time and money it costs their employees to perform repetitive tasks, so today a startup that has built a business to capitalize on this is announcing a huge round of funding to double down on the opportunity. UiPath — a robotic process automation startup originally founded in Romania that uses artificial intelligence and sophisticated scripts to build software to run these tasks — today confirmed that it has closed a Series D round of $568 million at a post-money valuation of $7 billion. More
Mejuri, a Toronto, Canada-based direct-to-consumer online jewelry retailer, raised $23m in Series B funding.The round was led by New Enterprise Associates, with participation from Incite Ventures, BDC Capital, Felix Capital, Imaginary Ventures, and Dash Ventures.The company intends to use the funds to continue to expand operations and grow its business reach. More
Roundtrip, a company offering a non-emergency medical transportation solution, has raised a $5.14 Series A round, according to a news release sent to MedCity. Motley Fool Ventures led the round, while Ben Franklin Technology Partners of Southeastern Pennsylvania and Johns Hopkins University participated. More
Zenoti, the leading enterprise cloud platform for the beauty and wellness industry, announced today that it has closed a $50 million Series C funding round led by Tiger Global Management with participation from Norwest Venture Partners and Accel. Already the leading software choice for salon and spa chains, Zenoti has thousands of customers spanning 44 countries. More
New Funds
Union Square Ventures, a venture capital firm known for early bets in Twitter, Etsy and Tumblr, has $450 million in capital commitments to plow into the next generation of technology startups. The capital, which comes in just above the $429 million USV filed to raise earlier this year, is divided across two new funds: $200 million for its 2019 Core Fund and $250 million for the 2019 Opportunity Fund. More
Harrison Street, an alternative real asset investment firm dedicated to the Education, Healthcare and Storage sectors, closed its second European closed-end fund, Harrison Street European Property Partners II, L.P., at €500m. More
Sponsor
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IPOs
Do Wall Street investors believe that exosomes, the tiny bubbles once thought to be just cellular garbage bins, may be the key to treating a slew of potential diseases? The coming IPO for Codiak Biosciences will present a test case. Codiak, a Cambridge, MA, company run by former Biogen research chief Doug Williams, outlined plans late Monday for an IPO. More
Plant-based meat maker Beyond Meat Inc on Tuesday increased the expected price range and size of its initial public offering, ahead of an expected market debut on Thursday, indicating strong investor demand. The company said it expects to offer 9.63 million shares, up from 8.75 million shares and the IPO to be priced between $23 and $25 per share, up from $19 and $21 per share. More
Partnerships
The government-run health system in England is partnering with several major drug companies in an effort to tackle the hepatitis C virus in the country. More
Corporate M & As
Walmart has agreed to buy India's leading online retailer Flipkart, paying $16 billion for a controlling stake of 77%. Flipkart gives Walmart access to a market it has been trying to crack for years. The Arkansas-based retailer has been restricted by local regulations to operating wholesale outlets in the world's fastest growing economy. More
Exits
Curaleaf Holdings Inc., the most valuable U.S. marijuana company, is making a big bet on cannabis oil. The Massachusetts-based company is buying the regulated cannabis business of Cura Partners Inc., a maker of oil for vape pens, in a stock deal valued at about US$950 million. That makes it the largest acquisition so far between U.S. cannabis companies. More
PE Deals
Imperial Dade, a leading distributor of disposable food service and janitorial supplies in the U.S., Puerto Rico and the Caribbean, today announced the signing of a definitive agreement for Bain Capital Private Equity to acquire a majority stake in the company. Imperial Dade will continue to be led by its current management team, who will remain significant investors in the company. More
Blackford Capital has sold its portfolio company Custom Profile to the employees of the company in partnership with Mosaic Capital Partners through an employee stock ownership plan. The sale of Custom Profile is Blackford’s second exit from its 2012 vintage Michigan Prosperity Fund. More
Legal News
Qualcomm will book a one-time payment of $4.5 billion to $4.7 billion next quarter from its settlement with Apple in a patent battle, the mobile chip maker said Wednesday as it reported its quarterly earnings. More
Health News
If you think your prescription drugs cost more every year, you’re probably right. Dozens of pharmaceutical companies kicked off 2019 with price hikes on hundreds of medications, and new government estimates say that drug spending could rise 6.1 percent annually by 2020. More
Events
Medcity Invest: Population Health; New Orleans. May 22, 2019. To highlight the importance of population health and the innovation and investment that is occurring in the field. More
Legal News
Qualcomm will book a one-time payment of $4.5 billion to $4.7 billion next quarter from its settlement with Apple in a patent battle, the mobile chip maker said Wednesday as it reported its quarterly earnings. More
Health News
If you think your prescription drugs cost more every year, you’re probably right. Dozens of pharmaceutical companies kicked off 2019 with price hikes on hundreds of medications, and new government estimates say that drug spending could rise 6.1 percent annually by 2020. More
Events
Medcity Invest: Population Health; New Orleans. May 22, 2019. To highlight the importance of population health and the innovation and investment that is occurring in the field. More
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