INTELLI™ Weekly Insights
Monday October 24, 2022 | Volume 1 Series 18 | More Q3 Statistics and updates from all over the globe, PreIPO's new explainer video.
🕑 Good Afternoon and Happy Monday! Hope everyone had a relaxing weekend, and ready to hit the week running. So much happened during Q3 that we’ve decided to share some additional metrics that we didn’t get to before…So grab that espresso, tea, martini (it’s 5 o’clock somewhere!), or whatever your choice of drink is as we tackle the second half of this Monday with the team at INTELLI™’s round of updates.
PS - Before we dive into today’s INTELLI™ newsletter, check out our newest PreIPO® overview video:
🤝 Here are some of the top equity-financing deals that were executed during Q3 of 2022 across the various investment rounds globally:
🌱 Top Seed/Angel Deals
Portofino Technologies (Switzerland) | $50M Seed VC | Coatue Management, Global Founders Capital, Valar Ventures
Grizzly.fi (Switzerland) | $26M Seed | N/A
Fortress Blockchain Technologies (United States) | $23M Seed | Ayon Capital, Soaring Investment Management, Scott Purcell
Pomelo (United States) | $20M Seed VC | Keith Rabois, Kevin Hartz, Afore Capital, Josh Buckley, Xfund
Dbank (Pakistan) | $18M Seed VC | Kleiner Perkins Caufield & Byers, Sequoia Capital, Askari Bank, Nubank
📊 Top Series A Deals
DANA (Indonesia) | $555M | Lazada, Sinar Mas Indonesia
Opto Investments (United States) | $145M | Tiger Global Management, 8VC, Clocktower Technology Ventures, Fin Capital, HOF Capital
Carrot General Insurance (South Korea) | $145M | Affirma Capital, Altos Ventures, STIC Investments, Hanwha Group
Safe (Gibraltar) | $100M | 1kx, Lightspeed Venture Partners, A&T Capital, Bixin Capital, Blockchain Capital
Strike (United States) | $80M | Ten31, University of Wyoming, Washington University in St. Louis
📊 Top Series B Deals
Tamara (Saudi Arabia) | $100M | Checkout.com, Coatue Management, Endeavor, Sanabil Investments, Shorooq Partners
Pigment (France) | $65M | Institutional Venture Partners, Meritech Capital Partners
Solid (United States) | $63M | FTV Capital, Headline United States
Fonoa (Ireland) | $60M | Coatue Management, Index Ventures, FJ Labs, Moving Capital, OMERS Ventures
Valon (United States) | $60M | Andreessen Horowitz, Ribbit Capital
📊 Top Series C Deals
YuLife (United Kingdom) | $120M | Dai-ichi Life Insurance, Anthemis, Creandum, Eurazeo, Latitude
Fortanix (United States) | $90M | Goldman Sachs Growth Equity, Foundation Capital, Intel Capital, Neotribe Ventures, Giantleap Capital
Zopper (India) | $75M | Creaegis Principals, Bessemer Venture Partners, Blume Ventures, Tiger Global Management, ICICI Venture
Mesh (United States) | $60M | Alpha Wave Global, Entree Capital, Meron Capital, TLV Partners, Tiger Global Management
AccessFintech (Israel) | $60M | WestCap Group, Citigroup, Dawn Capital, Goldman Sachs, J.P. Morgan Chase & Co.
📊 Top Series D Deals
wefox (Germany) | $400M | Mubadala, Horizons Ventures, OMERS Ventures
Pie Insurance (United States) | $315M | Allianz X, Centerbridge Partners, Acrew Capital, Gallatin Point Capital, Greycroft
HiBob (Israel) | $150M | General Atlantic, Bessemer Venture Partners
EarlySalary (India) | $110M | Norwest Venture Partners, The Rise Fund, HDFC, Piramal Capital
Casavo (Italy) | $103M | EXOR, 360 Capital Partners, Bonsai Partners, Greenoaks Capital Management, Picus Capital
📊 Top Series E+ Deals
Toss (South Korea) | $371M Series G | Altos Ventures, DAOL Investment, Goodwater Capital, Greyhound Capital, Korea Development Bank
Coalition (United States) | $250M Series F | Valor Equity Partners, Allianz X, Kinetic Partners
Guesty (Israel) | $170M Series E | Apax Digital, MSD Partners, Sixth Street Growth, Flashpoint Venture Capital, Viola Growth
Creditas (Brazil) | $50M Series F | Andbank
ottonova (Germany) | $34M Series F | Cadence Growth Capital
👨👩👧👦“Famtech”: An Emerging Trend
Famtech: Think digital tools to manage household responsibilities, track what the kids are doing, find care and even free up a little personal time.
Looking at recent funding tallies, famtech does look like a growing space. Here are some:
Kinside, a child care marketplace powered by employers.
HopSkipDrive, a vehicle for hire company focused on shuttling kids to school.
Remento helps people capture family stories in a new and unique way.
Otter connects parents in need of childcare with caregivers in the community.
Coterie creates smart, innovative baby care products that make parents' lives easier, starting with its high-performing diaper.
Yumi, a provider of organic meals and snacks for babies and toddlers.
It seems what famtech entrepreneurs are selling more than anything else is a tech-centric path to what everyone wants: a little more free time and a lot less worrying. Read more
🏡Public Real Estate Startups Shed Over $42B In Value (Full Story Here)
Overall, venture-backed U.S. real estate-focused companies that went public in the past two years are down an average of 85% from their offering price, according to a Crunchbase analysis. None are above their offering prices.
Some of the worst performers are down 90% or more. This includes i-buying platforms Opendoor and Offerpad, as well as Doma, a homeowners insurance upstart.
The decline can be pointed to four main reasons:
1. Valuations were too high at first
2. Companies underperformed expectations
3. Investor preferences changed
4. Real estate markets shifted
The overall picture: While public investors might not find much to like among recently public real estate companies, private markets still see a lot of upside in the space.
💰 INTELLI™ Featured Investments
Ascend Elements which manufactures sustainable battery materials using elements from discarded lithium-ion batteries raised $480M via Grant from the US Department of Energy.
Flexport, a full-service global freight forwarder and logistics platform raised $200M via Debt Financing led by Kohlberg Kravis Roberts.
Tempus, a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare raised $175M via Debt Financing led by Ares Management.
🤝 Recent Acquisitions
Electric Last Mile Solutions which transforms commercial vehicles with clean, connected, and customized solutions has a pending acquisition by Mullen Automotive, a car manufacturer and distributor for $240M.
Edocuments which offers record documentation and software for the construction industry was acquired by BuildData which runs a family of businesses that aid facility management teams, asset owners, contractors, and real estate developers for 2.4M GBP
Stay tuned for more updates brought to you by PreIPO INTELLI™