Weekly Update #6

USD 282.96m in capital raised, Nowi Energy valuation range

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Data from the Week 📊

Last week, I tracked 42 early-stage startup capital raises totalling USD 282.96m, down from USD 347.55m the week prior. The median amount raised rose to USD 5.4m fromUSD 4.84m.

A full list of deals tracked last week can be found here.

Many readers reached out recently to say that one way this newsletter could better serve them is if I started to track all VC and PE deals, in addition to early-stage. By reader request, you can check out a full list of VC and PE deals tracked last week here. Total amount raised over the week exceeded USD 2.1bn.

Sectors of Interest 🚀

Supply Chain

Contguard, a Tel Aviv-based provider of supply-chain shipment monitoring and BI services, received an investment from Citi Ventures and Canaan Partners Israel.

Qmerit, an Irvine, Califorina-based provider of cloud-based MRO supply chain solutions, raised USD 11.75m.

Blockchain/Crypto

CoinList, a San Francisco, based technology platform connecting accredited investors with blockchain projects, raised USD 9.2m.

Chainalysis, a New York-based provider of compliance software to monitor cryptocurrency transactions, raised USD 16m in Series A funding.

AI

Nift, a Boston-based provider of an AI platform empowering local merchants to develop a network with nearby merchants, raised USD 16m in Series A funding.

DeepScale, a Mountain View-based provider of deep learning perception software for use in mass-produced automated vehicles, raised a USD 15m Series A.

Brainomix, an Oxford-based medical imaging company using AI for the fast diagnosis and treatment of stroke victims, raised USD 9.8m.

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Highlighted Deals 📌

Nowi, a Holland-based company developing a power module to enable IoT sensors that will never run out of energy, recently raised a EUR 1.5m Venture Round from Disruptive Technology Ventures.

Simon van der Jagt, co-founder and CEO of Nowi, answered a few questions regarding the deal.

Of note:

  • The company’s valuation after the round is between EUR 7.5m and EUR 10m.

  • “The bulk of the money will go to further development of the Nowi Power Module. This energy harvesting and power management chip will enable Internet of Things sensor solutions and a final development step is needed before mass production.”

  • Nowi has raised a total of EUR 2m to date, inclusive of this round.

  • The company had been in contact with investors for about a year, and the process of raising capital took approximately 9 months.

BioIQ, Santa Barbara, California-based health tech company that optimizes investments in corporate health and wellness programs, recently raised a USD 26.5m Venture Round from HealthQuest Capital and Arboretum Ventures.

Justin Bellante, CEO of BioIQ, was kind enough to answer some questions regarding the recent capital raise for this newsletter.

Of note:

  • The company has raised a total of approximately USD 43.5m, inclusive of this round. CrunchBase, a startup data service, had the amount raised at USD 27.5m.

  • The process of raising capital took around 8 months “from the selection of an investment investment banker, to lead investor, to bringing on a syndicate/follow-on investor.”

  • BioIQ mandated “savvy” investment bankers from Stifel to manage discussions.

  • On valuation: “While we can’t comment on the specific valuation, we felt it was a fair negotiation and good reflection of the company’s opportunities and market conditions.”

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Questions

Here are some questions that I’m thinking about. If you’ve got thoughts on any of these, reach out.

  • How will GDPR impact the startup investment in Europe?

  • Can two non-technical co-founders successfully build a technology startup by outsourcing development?

  • Amazon is preparing to select a second HQ. What will be the impact on the startup ecosystem for the winning city? Will early-stage startups thrive or be crushed by an inability to find talent?

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PD Reporter is produced by Christopher DeLuca.

If you’re a startup and you’re raising capital and would like to be featured in next week’s newsletter, reach out by emailing: chris@pdreporter.com.

Feedback and opinions are welcomed.

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