Venture funding for Canadian startups in Q2 2022 declined by 67% compared to the preceding quarter. Venture capital funding for the recent quarter totaled $0.91B (CA$1.17B). The majority of investments came from U.S.-based VC firms, followed by venture arms of foreign corporations and Canadian VC firms. More: - 127 deals were closed in Q2, bringing the total number of deals in the first half to 299.
- In H1 2022, startups raked in $3.65B (CA$4.72B) in venture financing.
- U.S. and foreign investors contributed 70% of the funds in the first half, amounting to $2.56B (CA$3.31B).
- U.S.-based investors alone contributed 55% of the total funding.
- In the first half of the year, ICT companies received $2.15B (CA$2.78B) funding, followed by fintech, cleantech, and biotech startups at $490M (CA$634M), $467M (CA$603M), and $359M (CA$464M), respectively.
- Ontario continued to secure the most funding, with Quebec and BC coming in second and third, respectively.
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 YoY vc funding for Israeli startups Israeli startups have received $6.8B in venture funding in the year to date from 328 deals. Israel-based firms are projected to secure $11B in funding by year-end, if funding continues at the same pace. The projected figure is higher than the $10B raised by firms from 627 deals last year. More: - A funding pullback has impacted global startups, resulting in many firms announcing layoffs, raising down rounds, and curtailing their growth plans.
- The region was initially expected to show a decline in funding, mimicking the VC funding pullback trend seen in the U.S.
- Israeli startups, however, have continued to grow and continue to receive funding.
- Yesterday, two Israeli firms announced major funding rounds, namely DriveNets' $262M Series C financing and HiBob’s $150M Series D round.
- HiBob’s valuation increased from $1.65B 10 months ago to $2.45B at the recent funding.
- Other major funding rounds this year include Guesty’s $170M Series E, Pixellot’s $161M Series D, and Pentera’s $150M Series C.
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Israeli currency, stocks, and crypto trading investment network eToro acquired Gatsby. The cash and common stock deal is worth $50M. Gatsby is an options and stock trading platform that offers commission-free trading. More: - eToro filed for FINRA’s regulatory approval last December, and the deal was approved earlier this week.
- The acquisition marks an exit for Gatsby’s existing investors.
- To date, the New York-based company had raised $13M in funding, $10M of which came in from the firm’s Series A fundraiser in March last year.
- Notable investors in the firm include Beta Bridge Capital, Techstars Ventures, Rosecliff Ventures, and SWS Venture Capital.
- The move will help eToro expand its product portfolio and footprint in the U.S.
- eToro currently has 30 million users on its platform and received $1.2B from commissions last year.
- Since 2019, the company has reported 400% MoM growth.
- eToro shelved its plans to go public via a $10.4B SPAC merger last year.
- eToro previously acquired Delta, Marq Millions Ltd., and Firmo.
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AI and cloud computing firm G42 launched a new $10B fund in partnership with Abu Dhabi Growth Fund (ADG), the region’s sovereign fund. The newly formed entity G42 Expansion Fund will invest in late-stage growth startups developing disruptive technologies as a private equity investor. More: - The new fund aims to invest in companies working in computing technology, mobility, clean tech, digital infrastructures, metaverse, fintech, healthcare, and life sciences domains.
- The parent company G42 is backed by investors including Mubadala and Silver Lake and develops AI technology for deployment across energy, healthcare, and autonomous driving.
- UAE national security adviser Sheikh Tahnoon Bin Zayed oversees the business at G42 and ADQ.
- G42 CEO Peng Xiao and ADG leader Khalifa Al Suwaidi will both serve as the fund’s chairman.
Zoom out: - The Abu Dhabi sovereign wealth capital now has assets under management totaling over $1T.
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 A message from LAIKA If you’re trying to close deals, SOC 2 is probably a thorn in your side. What is it, and who cares? Your business needs SOC 2. But building compliance from scratch is complicated, time-consuming, and the cost can be crippling. Laika has you covered. Uncomplicate SOC 2 with our guide for growth-minded founders. In the guide by Laika you’ll learn: - What is SOC 2 compliance and why it matters for your startup
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Taiwan-based cybersecurity company TXOne Networks secured $70M in Series B financing. TGVest Capital led the financing and provided $20M capital in the funding round. The company intends to use the incoming funds to fuel global expansion and strengthen its industry verticals. More: - Participants in the funding round include KAiA Capital, MediaTek, CDIB Capital Group, and Simple Technology Group, amongst others.
- The Series B funding brings the firm’s total funds raised to date to $93.9M.
- Jade Stone Venture and JAFCO Asia led a $12.9M Series A round in Aug. 2021.
- Both investors participated in the current fundraiser, increasing their stake in the firm.
- TXOne nabbed $11M in seed funding in Apr. 2019, led by Trend Micro.
- TXOne reported a 107% increase in revenue in the first half of this year.
- The company expects its revenue to continue rising and is increasing its team size in Asia, Europe, and the U.S. in order to cater to the rising demand.
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Air travel company Aero Technologies raised $50M in Series B financing. The San Francisco-based company received a $300M valuation in the recent round. In addition, the company raised $15M by issuing convertible notes. Incoming funds will help the company expand into new markets. More: - Albacore Capital Group led the equity round, joined by Expa, Keyframe Capital, and Capital One Ventures.
- The company's aircraft fleet includes Embraer 135 and Legacy 600 jets, exclusively catering to leisure travelers.
- Aero's U.S. base serves travelers from Los Angeles and San Francisco heading to Aspen, Los Cabos, and Sun Valley.
- In addition, the firm has a European base in London.
- The company's website offers customers to book individual seats, making the option significantly cheaper than renting a private jet.
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- Singapore-based Docquity raised $32M in Series C financing from Itochu Corporation. Medical professionals can interact and share knowledge with fellow community members using the firm's platform.
- German AI-powered digital experiences platform Solsten secured $21.8M in financing from its Series B funding round. Konvoy led the financing with Inventure, GFR Fund, Bascom Ventures, Dentsu Ventures, and Warburg Serres in participation.
- Autonomous farming company Sabanto received $17M in financing. The Series A funding round was led by Fulcrum Global Capital. DCVC Bio, Hico Capital, Trimble Ventures, and others backed the funding.
- SYN Ventures led a $13M Series A funding into cybersecurity and asset monitoring company SynSaber.
- Dutch nuclear power startup Thorizon raised $12.6M (€12.5M) in funding from Positron Ventures, Invest-NL, Huisman, PDENH, and Impuls Zeeland.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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