Blog Archive

Saturday, September 28, 2019

VC Deals Only. Weekend Edition. Spanish startup Elma gets $3.2M for a digital-first health insurance play

VC Deals

A company developing a bispecific antibody that already has clinical data in blood cancers has raised more than $60 million in its latest venture capital funding round that it plans to use to advance the drug in solid tumors. More

Complete Solar, Inc., today announced it has raised $9 million in equity funding led by Ecosystem Integrity Fund. Additional participating investment came from the Libra Foundation.  More

Kitchen United, which operates a growing network of shared kitchen spaces for restaurants around the U.S., announced today it has closed a Series B round for $40 million. More

Machine translation platform Unbabel has raised $60 million in a series C round of funding led by Point72 Ventures, with participation from Microsoft’s M12, Greycroft, Scale Venture Partners, Notion Capital, Caixa Capital, Faber Ventures, FundersClub, Structure Capital, Indico Capital Partners, and E.ventures.  More

Intel Capital, the venture arm of chipmaker Intel, has led a $25 million series B funding round in optical connectivity startup DustPhotonics, Inc., the latter announced Monday. WRVI Capital and Israeli serial entrepreneur Avigdor Willenz also participated in the round.  More

Landline, the operator of a bus network in the Midwest, is one of the latest companies to raise venture capital. The business has closed a $3.85 million round led by Los Angeles firm Upfront Ventures, with participation from Mucker Capital and Matchstick
Ventures.  More

Eko, a San Francisco, CA-based AI-powered digital health company, closed $20M Series B funding. The round was led by Artis Ventures with participation from DigiTx Partners, NTT Venture Capital (NTTVC), 3M Ventures, Mayo Clinic, Seraph Group, and XTX Ventures. The company intends to use the funds to drive further research and commercialization of its machine learning platform. More


Little-known and super quiet biotech Amphivena Therapeutics has grabbed a strong and healthy $62 million series C round funding haul. The Californian company says this new swag will go toward boosting its in-progress work for AMV564, a bivalent, bispecific T-cell engager that binds CD33 and CD3 in phase 1 for certain blood cancers, as well as in a solid tumor test.  More

Insurtech startup Elma has closed a €3 million (~$3.2M) Series A funding round led by Mangrove Capital partners to build out a digital-first health insurance business starting with Spain, its domestic market.  More

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New Funds

Mohan Kumar, a former partner at Norwest Venture Partners and Nishant Rao, the former chief operating officer at the Chennai-based SaaS firm Freshworks, have launched Avataar Venture Partners, whose maiden fund will have HarbourVest, the global fund-of-funds, as its single Limited Partner or sponsor.  More

Exits

Facebook is buying CTRL-labs, a NY-based startup building an armband that translates movement and the wearer’s neural impulses into digital input signals.  More

Legal

Comscore, a company that’s performance metrics are widely touted in the media world, has settled with the SEC following charges of inflating its own metrics. The company and its former CEO Serge Matta have been charged with fraud by the SEC and have agreed to pay $5 million and $700,000 respectively, in a settlement.  More




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