INTELLI™ Weekly Insights
Wednesday October 27, 2022 | Volume 1 Series 19 | More Q3 Statistics and updates from all over the globe, PreIPO's new explainer video.
🕑 Good Morning & Afternoon to our European friends! Hope everyone is doing well this day. There were still a lot of updates from Q3 that got us so excited, it would be unfair if we didn’t share it with you! So grab your drink of choice as we take a look at INTELLI™’s round of updates.
🤝 Here are some Collection Spotlights for the Top Equity Deals that were executed during Q3 of 2022 across the various industries globally:
🏛 Banking
Strike (United States) | $80M Series A - 6.8% of Total Funding | Ten31, University of Wyoming, Washington University in St. Louis
Wealthfront (United States) | $70M Convertible Note - 5.9% of Total Funding | UBS
Solid (United States) | $63M Series B - 5.4% of Total Funding | FTV Capital, Headline
AccessFintech (Israel) | $60M Series C - 5.1% of Total Funding | WestCap Group, Citigroup, Dawn Capital, Goldman Sachs, J.P. Morgan Chase & Co.
Alloy (United States) | $52M Series C - 4.4% of Total Funding | Avenir Growth Capital, Lightspeed Venture Partners, Bessemer Venture Partners, Avid Ventures, Canapi Ventures
💻 Digital Lending
Klarna (Sweden) | $800M Private Equity - 37.9% of Total Funding | Sequoia Capital, BESTSELLER, Commonwealth Bank of Australia, Silver Lake, CPP Investments
EarlySalary (India) | $110M Series D - 5.2% of Total Funding | Norwest Venture Partners, The Rise Fund, HDFC, Piramal Capital
Tamara (Saudi Arabia) | $100M Series B - 4.7% of Total Funding | Checkout.com, Coatue Management, Endeavor, Sanabil Investments, Shorooq Partners
OneCard (India) | $100M Series D - 4.7% of Total Funding | Temasek, Hummingbird Ventures, Ocean View Investments, QED Investors, Sequoia Capital India
DD360 (Mexico) | $91M Undisclosed - 4.3% of Total Funding | Creation Investments Capital Management
💰 Wealth Tech
Safe (Gibraltar) | $100M Series A - 9.0% of Total Funding | 1kx, Lightspeed Venture Partners, A&T Capital, Bixin Capital, Blockchain Capital
Avenue Securities (United States) | $93M Corporate Minority - 8.4% of Total Funding | Itau Unibanco
Wealthfront (United States) | $70M Convertible Note - 6.3% of Total Funding | UBS
Ethic (United States) | $50M Series C - 4.5% of Total Funding | Jordan Park Group, Kapor Capital, Nyca Partners, Oak HC/FT Partners, Sound Ventures
Smart Pension (United Kingdom) | $47M Undisclosed - 4.3% of Total Funding | CIBC Innovation Banking
📈 Insurtech
wefox (Germany) | $400M Series D - 17.1% of Total Funding | Mubadala, Horizons Ventures, OMERS Ventures
Pie Insurance (United States) | $315M Series D - 13.4% of Total Funding | Allianz X, Centerbridge Partners, Acrew Capital, Gallatin Point Capital, Greycroft
Coalition (United States) | $250M Series F - 10.7% of Total Funding | Valor Equity Partners, Allianz X, Kinetic Partners
HiBob (Israel) | $150M Series D - 6.4% of Total Funding | General Atlantic, Bessemer Venture Partners
Carrot General Insurance (South Korea) | $145M Series A - 6.2% of Total Funding | Affirma Capital, Altos Ventures, STIC Investments, Hanwha Group
📊 Capital Markets Tech
Opto Investments (United States) | $145M Series A - 32.8% of Total Funding | Tiger Global Management, 8VC, Clocktower Technology Ventures, Fin Capital, HOF Capital
AccessFintech (Israel) | $60M Series C - 13.6% of Total Funding | WestCap Group, Citigroup, Dawn Capital, Goldman Sachs, J.P. Morgan Chase & Co.
Pulley (United States) | $40M Series B - 9.1% of Total Funding | Founders Fund, Elad Gil, Stripe
Ledgy (Switzerland) | $23M Series B - 5.2% of Total Funding | New Enterprise Associates, Sequoia Capital, VI Partners, Visionaries Club
Koibanx (Argentina) | $22M Series A - 5.0% of Total Funding | Algorand, G2 Momentum Capital, Innogen Capital, Borderless Capital
👗 Fashion Startups Not Quite Runway-Ready? (Full Story Here)
A Crunchbase survey of six venture-backed companies in the clothing and accessories industry that went public last year shows an average post-IPO decline of 74%.
Additionally, one of last year’s better-known fashion debuts is already going private. Secondhand fashion and accessories marketplace Poshmark, announced earlier this month that it has agreed to a $1.2 billion acquisition by South Korea’s Naver.
Fashion-focused founders are still managing to raise some funding. However, investment has dropped off, particularly in the last few months.
In the last three months, fashion funding totaled just $184 million, indicating investment activity in the space is slowing down.
🖥 Tech Layoffs in 2022
As of late-October, more than 44,000 workers in the U.S. tech sector have been laid off in mass job cuts so far in 2022, according to a Crunchbase News tally.
Tech companies as big as Netflix have slashed jobs this year, with some citing the effects of the COVID-19 pandemic and others pointing to overhiring during periods of rapid growth.
Startups—especially those that benefited from a pandemic boom that’s starting to cool—are feeling the pressure too. Valuations, particularly at the late stage, have started to dip, and startups say it’s much more difficult to raise new funding in this environment.
To get the full story and data, click here.
💰 INTELLI™ Featured Investments
N26 which offers mobile banking solutions to customers in the European Union through its subsidiary invested $1M through Debt Financing in Bolt, a transportation platform.
Siltronics, a producer of semiconductor silicon wafers raised $194.79M through Post IPO Debt led by European Investment Bank that provides lending, borrowing, and treasury services.
HMNC Brain Health, a precision medicine pioneer in psychiatry raised $14.3M with Dr Guntard Gutmann and Jahr Holding GmbH as the most recent investors.
anvajo, a Dresden-based technology company that develops, manufactures and sells innovative solutions for the analysis of liquids raised $17.3M in a Series A round led by Think.Health which invests as a boutique risk-taker in healthcare ventures.
Holidu, a travel tech company raised $24.43M through Debt Financing led by Claret Capital Partners which provides growth debt to European tech and life-science businesses.
Makersite, a cloud-based product data management tool raised $17.9M in a Series A round led by Planet A Ventures, a greentech Venture Fund looking to support european solutions for a sustainable future.
Picus Capital, an early-stage technology investment firm invested in Web3 Builders, a new smart contract and non-fungible token security company and helped raise $7M in a Seed round.
SpinDiag which develops an easy-to-use, compact, and automated point-of-care system raised $14.61M through Debt Financing led by European Investment Bank.
Ecoligo, an impact investment provider raised $9.74M in a Series A round led by FRV-X, the innovation and venturing division of Fotowatio Renewable Ventures.
🤝 Recent Acquisitions
DJS Antibodies, which designs and discovers novel therapeutic monoclonal antibodies against GPCRs has a pending acquisition by AbbVie, a pharmaceutical company that discovers, develops, and markets both biopharmaceuticals and small molecule drugs. for $255M.
Nora Pharma is a pharmaceutical manufacturing company that specializes in manufacturing and distribution of generic drugs was acquired by Sunshine Biopharma which focuses on the research, development, and commercialization of drugs for the treatment of various forms of cancer for 30M CAD.
Stay tuned for more updates brought to you by PreIPO INTELLI™