This is a weekly feature listing the top 10 funding rounds of the week in the US. Check out the biggest funding rounds from the past week here.
Last week it seemed like big rounds were making a comeback. That’s not the case this week, as even the biggest rounds tended to be small and there weren’t many of them. Investors continued to bet on biotechnology, and another agtech company made the list, along with a miniature golf startup — a first.
1. Odyssey Therapeutics, $168 million, biotechnology: Drug development is big business for both biotech companies and investors. This week, Boston-based Odyssey Therapeutics closed a $168 million Series B led by General Catalyst. Odyssey develops precision immunomodulators and oncology drugs to treat serious human diseases. The company’s drug discovery engine uses artificial intelligence and machine learning for molecular design, a functional genomics platform for target discovery, and other proprietary technologies. Odyssey launched last year and has raised nearly $386 million, according to the company.
2. Uniswap Labs, $165M, Crypto: Crypto and blockchain have been relatively quiet lately, but there usually seems to be at least one round making this list each week. This week, it was New York-based Uniswap Labs — the company behind the Uniswap protocol exchange — that landed a $165 million Series B lead by Polychain Capital. The raise values the company at $1.66 billion. TechCrunch reports. Founded in 2018, Uniswap is a decentralized exchange platform that operates on the Ethereum blockchain. The exchange allows users to deposit tokens into larger liquidity pools and buy and sell them at pre-determined prices. in one Blog post announcing the round, the company announced that it has supported $1.2 trillion in trading volume to date. The company has now raised $176 million, according to Crunchbase data.
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3. TripActions, $154 million, travel: TripActions has been in the news a lot lately. Just two weeks after it was reported, the company had filed confidentially to go public next yearthe Palo Alto, California-based business travel startup $304 million at a $9.2 billion valuation. The round consists of $154 million in equity from new and existing financial investors and a $150 million structured capital transaction led by a coat. The business travel startup raised $275 million in a Series F round led by Greenoaks Capital last October at a valuation of $7.25 billion. In May, Bloomberg reports The company was in negotiations to raise $9 billion in funding. late last month, Business Insider First reported The company had confidentially filed for an IPO and is targeting a $12 billion valuation in the second quarter of next year. The report also said Goldman Sachs was commissioned to manage the listing.
4. Puttshack, $150M, Sports: Who hasn’t loved miniature golf? Apparently many still do. Chicago-based Puttshack secured $150 million from funds managed by Black Rock and further support from Promethean investments. The company combines a night of food and drink with miniature golf, using its patented trackaball technology to automate scoring and create interactive games at each hole. Puttshack plans to use the new money to expand to many more locations across the US. Founded in 2017, the company has now raised $244 million, according to Crunchbase.
5. Soli Organic, $125 million: Agtech continues to be very popular with investors. Virginia-based indoor farming startup Soli Organic has caught on $125 million Series D lead by CDPQ. Soli sells vegetables and herbs. Unlike most indoor farming companies who use hydroponics and vertical farming technology, Soli uses soil and its own specialty fertilizer to grow its plants indoors. The company has been around for a while. It started out as Shenandoah Growers in 1989 – making it an OG of the agtech sector. According to Crunchbase data, the company has raised $487.5 million since its inception.
6. Neumora Therapeutics, $112 million, biotech: Watertown, Mass.-based Neumora Therapeutics, a clinical-stage biotech developing drugs for brain disorders, closed a $112 million Series B from investors including Abu Dhabi Growth Fund (ADG), amgen, ARCH venture partner and other. Founded in 2019, Neumora has raised $650 million in capital per company.
7. SprintRay, $100 million, 3D printing: Los Angeles-based dental 3D printer manufacturer SprintRay raised more than $100 million in a Series D led by the Soft Bank Vision Fund 2, after a Deal Street Asia report. This is the first disclosed round according to Crunchbase data.
8. Matchpoint Therapeutics, $70 million, biotechnology: Cambridge, Massachusetts-based Matchpoint Therapeutics, a developer of precision covalent drugs to treat immune disorders, closed a $70 million Series A funding led by Sanofi Ventures. The company has raised a total of $100 million including its seed round led by AtlasVenture and Access biotechnology.
9. NorthOne, $67M, Fintech: New York-based financial management platform NorthOne raised $67 million Series B from new and existing investors. Founded in 2016, the company has now raised more than $90 million from investors such as Red point and Battery Venturesper crunch base.
10. Ascidian Therapeutics, $50 million, biotechnology: Boston-based Ascidian Therapeutics came out of the cover and announced it had raised $50 million from Series A ATP, who also built the company. Ascidian attempts to treat human diseases by replacing mutated exons at the RNA level.
Big global deals
With so few big rounds in the US this week, the world’s biggest round went to a China-based company.
- Horizon Roboticswhich develops computer platforms for intelligent vehicles received a US$1 billion investment from Volkswagen for a joint venture.
methodology
We’ve tracked the largest rounds in the Crunchbase database collected from US-based companies for the seven-day period from October 8th to 14th. Although most announced rounds are included in the database, there may be a small time lag when some rounds are reported late in the week.
Figure: Dom Guzman
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