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The Briefing: Kuaishou launches $5.4B IPO, Weights & Biases lands $45M, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase DailyTikTok rival Kuaishou launches $5.4B IPO

Chinese short video app Kuaishou Technology will raise $5.4 billion from its Hong Kong listing, hitting its maximum fundraising target, The Wall Street Journal reports.

The offering will value the Tencent-backed company at nearly $61 billion. The company’s services in China had 305 million average daily active users in the nine months ended in September.

Shares are expected to start trading on Friday.

The Honest Co. poised to enter public markets

Insiders at The Honest Co. told Bloomberg that the Los Angeles-based company is considering a confidential IPO filing.

The Honest Co., co-founded by actress Jessica Alba in 2011 and offers baby and beauty products, has raised just over $500 million in total known funding, most recently a $200 million private equity round led by L Catterton in 2018, according to Crunchbase data. Other backers include Fidelity Management and Research Company, Glade Brook Capital Partners and Wellington Management.

Funding rounds

  • Weights & Biases Lands $45M: Weights & Biases, a startup developing software tools for machine learning, raised $45 million in a Series B round led by Insight Partners.
  • Future Meat Technology gobbles up $26.75M: Future Meat Technologies, an Israel-based company developing technology to produce cultured meat, announced an additional $26.75 million in funding through its strategic partners. The company is backed by companies including Tyson Foods, and investors such as S2G Ventures.
  • ELSA raises $15M for language learning: ELSA, a language-learning app with a focus on pronunciation, has raised $15 million in a Series B round led by Vietnam Investments Group and SIG.
  • Wallbox inks 33 million euros: Wallbox, an electric vehicle charging station company with headquarters in Barcelona, closed on 33 million euros ($39.8 million) in financing, led by Cathay Innovation and WIND Ventures.
  • Axoni banks $31M: Axoni, a New York-based provider of financial market infrastructure, announced $31 million equity financing from investors, including Deutsche Bank, Intel Capital and UBS, to give the company a total of $90 million in funding.
  • Cellino brings in $16M: Cellino, a personalized regenerative medicine company developing an AI-guided laser editing platform for autologous cell-based therapies, closed on $16 million in a seed round co-led by The Engine and Khosla Ventures.

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Shares are expected to start trading on Friday.

Source: https://news.crunchbase.com/news/briefing-2-1-21/

Crunchbase

The Briefing: Snyk Gets $530M, Scalapay Raises $155M, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Snyk snags $530M at $8.5B valuation

Boston-based application security developer Snyk closed a $530 million Series F at a valuation of $8.5 billion—more than tripling its value since the beginning of 2021.

The round was co-led by Sands Capital Ventures and Tiger Global, with participation from new investors Baillie Gifford, Koch Industries, Lone Pine Capital, T. Rowe Price and Whale Rock Capital Management, and existing investors Accel, funds managed by BlackRock, Addition, Boldstart Ventures, Canaan Partners, Coatue, Salesforce Ventures1, Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital and Temasek.

The deal included both primary and secondary offerings with more than $300 million of new working capital.

Founded in 2015, the company has now raised a total of $775 million to date.

— Chris Metinko

Scalapay raises $155M

Milan-based buy now, pay later provider Scalapay raised $155 million as part of a Series A round led by Tiger Global, with participation from Baleen Capital and Woodson Capital.

The company allows buyers of fashion, furniture and other consumables to pay for their purchases over three installments.

Founded in 2019, the company currently offers its services in Italy, France, Germany, Spain, Portugal, Finland, Belgium, Netherlands and Austria.

Fintech

Nuula lands $120M for small biz fintech: Toronto-based Nuula, developer of an app delivering business metrics and financial products for small businesses, raised $120 million in a debt and equity round. The financing includes $20 million in equity funding led by Edison Partners and a $100 million credit facility provided by funds managed by the credit group of Ares Management.

— Joanna Glasner

Health tech

• Flo raises $50M for women’s health app: London-based women’s health app Flo said this week that it has closed a $50 million Series B financing led by VNV Global and Target Global. Flo said it will use the new capital to hire more employees and for R&D into new product features. Its app focuses on women’s health and includes period, fertility and pregnancy tracking features. The company said its headcount has more than doubled in the last two years to 350 people and that it aims to have $100 million in ARR by the end of 2021.

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Source: https://news.crunchbase.com/news/briefing-9-9-21/

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The Briefing: Reddit Reportedly Plans IPO, Iconiq Eyes SPAC Deal, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Reddit reportedly planning big IPO

Online discussion form Reddit is talking to investment banks and attorneys in preparation for a potential IPO in coming months, according to a Reuters report citing unnamed sources.

The company was reportedly valued around $10 billion in a private funding round last month. As a public company, Reddit is said to be seeking a valuation of more than $15 billion.

Founded in 2005, Reddit has raised at least $1.3 billion in known funding to date, per Crunchbase data, with the majority of investment occurring over the past two years.

Chinese EV maker Iconiq mulls SPAC listing

China-based electric vehicle maker Iconiq is in talks about potentially going public through a merger with a blank-check acquirer, according to a Bloomberg report citing unnamed sources. A deal could reportedly value the combined company at around $4 billion.

Funding rounds

Sunday raises $45M Series B: Bangkok-based Sunday, a tech-focused provider of insurance policies and underwriting, raised $45 million in a Series B financing backed by Tencent, SCB 10X, Vertex Ventures Southeast Asia & India, Quona Capital, Aflac Innovation Partners and Z Venture Capital.

— Joanna Glasner

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Source: https://news.crunchbase.com/news/briefing-9-3-21/

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The Briefing: HeadSpin Co-Founder Charged, Headspace Merges With Ginger, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

HeadSpin co-founder charged with defrauding investors

U.S. authorities charged the co-founder and former CEO of HeadSpin with defrauding investors out of as much as $80 million by overstating the financial numbers of the Palo Alto, California-based startup.

The U.S. Department of Justice arrested Manish Lachwani on charges of securities fraud and wire fraud related to raising money from investors. In a release, the U.S. Securities and Exchange Commission said Lachwani is charged with defrauding investors by falsely claiming that the company had “achieved strong and consistent growth in acquiring customers and generating revenue.”

According to the SEC’s complaint, Lachwani is alleged to have engaged in a fraudulent scheme to push HeadSpin’s valuation to more than $1 billion by “falsely inflating the company’s key financial metrics and doctoring its internal sales records” from at least 2018 through 2020. The alleged fraud came to light after the company’s board of directors conducted an internal investigation which revised HeadSpin’s valuation down from $1.1 billion to $300 million.

Lachwani co-founded HeadSpin—a digital experience test platform—and acted as its CEO from its inception in 2015 until approximately May of last year.

— Chris Metinko

Headspace merges with Ginger

Headspace and Ginger, two startups focused on mental health and well-being, announced plans to merge into a single company named Headspace Health.

Santa Monica, California-based Headspace, known for its mindfulness and meditation apps, was founded in 2010 and has raised around $216 million in known funding to date. San Francisco-based Ginger, a provider of on-demand mental health coaching and therapy, was founded in 2011 and has raised around $220 million to date.

As Headspace Health, the two companies will serve consumers, employers and health plans, offering support for mental health symptoms from anxiety to depression to more complex diagnoses.

Cribl lands $200M Series C

San Francisco-based Cribl raised a $200 million Series C led by Greylock and Redpoint Ventures. The round also included new investor IVP, existing investors Sequoia and CRV and strategic investments from Citi Ventures and Crowdstrike.

Founded in 2017, Cribl helps companies manage their flow of data and route it to where it can be used best. The company has now raised a total of $254 million.

— Chris Metinko

Energy Vault raises $100M

Energy Vault, an energy storage technology provider, announced it has raised $100 million in a Series C funding round led by Prime Movers Lab. Based in Westlake, California, and Lugano, Switzerland, Energy Vault focuses on renewable energy storage products.

M&A

LexisNexis Risk Solutions to acquire Trunarrative: LexisNexis Risk Solutions announced that it is acquiring startup Trunarrative, for an undisclosed sum. Founded in 2016, Leeds, U.K.-based Trunarrative provides a cloud-based platform that detects and prevents financial crime and fraud.

— Joanna Glasner

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Source: https://news.crunchbase.com/news/briefing-8-25-21/

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