It’s been 50 years since Venrock established itself to expose investors to venture capital opportunities. Today, the global venture capital industry tracks just south of $200 billion and continues to grow as new entrepreneurs, engineers, financiers, and thought leaders create the economy of tomorrow. The DailyAlts VC channel tracks the trends, opportunities, key thought leaders, and next-generation industries that will generate billions in returns.
Tata Motors (NSE: TATAMOTORS), the automobile company of the Tatas, the Indian salt-to-airlines business conglomerate, will receive an investment of approximately $1 billion from TPG’s Rise Climate Fund and Abu Dhabi state holding company ADQ in a new EV entity. Tata Motors will invest over $2 billion in the unit.
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The transaction values the company at more than $3 billion. Celsius Network, the platform founded by Alex Mashinsky for borrowing and lending crypto, announced its raise of $400 million led by WestCap, a growth equity firm, and Caisse de dépôt et placement du Québec (CDPQ), the Canadian pension fund. (CISION PRNewswire) The investors were undeterred…
Digital Assets: Binance Smart Chain Launches $1B Growth Fund For Blockchain Development And Adoption
The fund will invest in the development of an ecosystem for the Binance Smart Chain. Binance, the world’s largest crypto exchange and creator of the Binance Smart Chain (BSC), has announced a $1 billion growth fund to boost adoption of BSC for decentralized applications, or dApps. Describing it as one of the best blockchains for…
Digital alternative investment platform Yieldstreet announced Thursday the launch of its new venture capital focused platform that allows retail investors exposure to private companies and start-ups that are disrupting existing sectors of creating entirely new ones. The move reflects the increasing demand for alternative investments to be made available easily to retail investors. Returns on venture capital in 2020 were more than 50% and have averaged 32% over the past 25 calendar years.
Five Seasons Ventures, the European venture capital firm seeking to finance foodtech startups that have a quantifiable, beneficial impact on the planet and/or human health, announced the close of a a €180 million Fund II.
Olea Edge Analytics, an Austin-based AI startup that seeks to enhance municipal water revenues at cities and helps them combat situations such as drought, has raised a $75 million Series C round led by Insight Partners, the New York-based global private equity and venture capital firm.
Do Good Foods has a mission to address the problem of the 48 billion pounds of food waste generated by grocery stores each year. Rather than throw food away, Do Good Foods is upcycling it. Surplus grocery food is first shared with local food pantries — what’s left over is then sent to its facility to be repurposed into feed for animals, such as chicken. The company received a $169 million investment from Nuveen.
Tekion’s end-to-end cloud-based automotive software platform, dubbed Automotive Retail Cloud, has raised $250 million in a Series D round led by Alkeon Capital and co-led by Durable Capital. Other investors include Hyundai Motor Company (KRX: 005380) and several reputable dealer groups across the United States. Advent International, who led Tekion’s Series C, Index Ventures who led its Series A, and FM Capital also reinvested in this round.
Spudsy, which ‘rescues’ imperfect sweet potatoes and transforms them into puffed snacks and fries, raised $3.3 million in a Series A funding round led by KarpReilly and Stage 1 Fund, bringing its cumulative funding to $6.5 million over two years.
Ola Electric, which is building the world’s largest two-wheeler production facility, spread out over a total of 500 acres of land in Tamil Nadu, India, and run by an all-women workforce, announced the raise of $200 million to hasten the development of other vehicle platforms besides its electric scooter line.
Built Technologies, a fintech focused on construction finance, has raised $125 million in a round led by TCV with Brookfield Technology Partners, 9Yards Capital, HighSage Ventures and XYZ Venture Capital participating. Existing investors including Lee Fixel’s Addition, Fifth Wall and Index Ventures also chipped in.
Founded in a garage in 2015 by David Hu and Vince Allen, Sundrive, a solar energy startup, has successfully developed the world’s most efficient solar cell. Their cell generates solar-sourced power at an efficiency of 25.54%, breaking the previous world record of 25.26%. More importantly, the startup did it while replacing the silver in solar cells with copper.
Starfish Space, a startup that is eyeing a market for on-orbit satellite servicing, missions such as debris removal and satellite life extension, announced its $7 million raise in a round co-led by NFX and MaC Venture Capital, with participation from PSL Ventures, Boost VC, Liquid2 Ventures, and Hypothesis.
New Age Meats grows real, flavorful meat from the cells of unharmed animals, and then, in a hybrid approach, adds plant-based ingredients for texture, taste, and health. The Berkeley, CA-based startup has raised a Series A $25 million round led by Hanwha Solutions of South Korea. Existing investors SOSV’s IndieBio, TechU Ventures, ff VC and Siddhi Capital also participated in the investment.
Ninja Van’s Series E funding round raised $578 million including from Alibaba Group Holding (NYSE: BABA), the funding putting it on course for an IPO about 18 months down the line. The round valued the Singapore-based logistics startup at over $1 billion and elevated it into the unicorn club.
Iron Ox, an agtech startup that advances the cause of producing food sustainably and autonomously using robotics and AI, has raised a $53 million C Series led by new investor Breakthrough Energy Ventures. Breakthrough Energy Ventures is backed by top business leaders including Bill Gates and Jeff Bezos. The round brings the startup’s aggregate funding to $98 million.
Lilac Solutions, a startup developing a lithium extraction technology, announced Wednesday the first close of its $150 million Series B round. Lilac’s ion exchange technology for extraction of lithium from brine is faster to deploy, more efficient, sustainable and financially superior compared to conventional technology.
Mexican used-car platform Kavak said it had raised a $700 million Series E round at a valuation of $ 8.7 billion which more than doubled from its previous funding. The round was led by U.S. venture capital firm General Catalyst, while SoftBank Group Corp, billionaire Peter Thiel’s Founders Fund, Singapore-based gaming and e-commerce company Sea Ltd, Tiger Global, Spruce House, hedge fund D1, and Ribbit Capital also participated.
Genesis Digital Assets, which runs 2.4% of the bitcoin mining network, has announced a $431 million raise led by Paradigm. Claimed to be the largest ever achieved by a bitcoin mining company, the round also won participation from NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge, and Kingsway Capital.
Breakthrough Energy, the non-profit founded in 2015 by Bill Gates to advance the cause of net-zero emissions, has raised hundreds of millions of dollars from U.S. firms for its Breakthrough Energy Catalyst project to support innovation in the field.
Indian used car platform Cars24 has raised $450 million comprising a $340M Series F equity round and $110M of debt. The capital funding valued the startup, founded in 2015, at $1.84 billion, nearly twice from the end of last year. The equity round was led by SoftBank, DST Global, and Falcon Edge Capital and included participation by existing investors as well as Tencent holdings.
With most of the global $200 billion metal raw commodities business still conducted in archaic paper mode, Switzerland-based Open Mineral is aiming to become the eBay for physical commodity producers by digitizing metal raw material trading. The firm announced Thursday its Series C raise of $33 million led by Abu Dhabi’s sovereign wealth fund Mubadala Investment Company.
On Wednesday night, SpaceX’s Falcon 9 rocket hoisted into orbit a Crew Dragon spacecraft carrying a 4-person, all-civilian crew on a mission titled Inspiration4. Commanded by billionaire Isaacman, who conceived the flight ten months ago as a means to raise funds and awareness of St Jude Children’s Research Hospital, the flight also carried another male and two female civilians.
Canva is now the fifth-most valuable startup in the world. Australian graphic design platform Canva raised $200 million in a round led by global investment firm T.Rowe Price and included participation by Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis, and AirTree Ventures. The startup doubled its valuation…