Binance.US is set to acquire Voyager Digital's assets for $1B as the latter's bankruptcy concludes. The acquisition is contingent on approval from the bankruptcy court. More: - Binance.US is the U.S. branch of Binance, one of the world's largest crypto exchanges. The branch was established in order to guarantee more safety for U.S.-based cryptocurrency holders, a topic that has become more controversial than ever due to recent developments in the industry.
- Voyager Digital declared its bankruptcy earlier this year, hoping that it would be able to pay its customers back by selling its assets to crypto exchange FTX. Once FTX went bankrupt, the company was left with no alternatives.
- Binance has decided to step in, choosing to acquire the company's assets for $1.02B.
- The company will spend $20M to acquire other assets of incremental value that Voyager Digital held.
- According to Binance, users will be able to automatically connect to their wallets and see some of their original crypto holdings be refunded to them, although the exact amount remains unclear.
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Finance app Toss has raised a $405M Series G funding round as it aims to continue its strong growth momentum. The company is now valued at $7B. More: - Based in South Korea, Toss is a fintech app that enables its users to manage their money, make peer-to-peer transfers, invest in securities, etc.
- Since its launch in December 2021, its banking app Toss Bank has reached over 5 million users.
- The company is beating the trend of similar companies such as Klarna and Stripe, which have had to raise down rounds this year due to tough macroeconomic conditions such as inflation and lower spending power.
- Toss has 14 million monthly active users and 24 million registered users, according to company officials.
- Founded in 2011, the Seoul-based company has around 1,900 employees.
- Together with its holding company Viva Republica, Toss is expected to end 2022 with $767M in revenue.
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Canada-based Svante has raised a $318M Series E funding round to provide commercially-viable CO2 capturing solutions. Chevron New Energies led the funding round. More: - Svante uses patented technology that captures CO2 from diluted flue gas streams with high capacity and selectivity over water, capturing 95% of the total CO2 emitted.
- This technology can be applied to lime, aluminum, cement, steel, blue hydrogen, pulp & paper, oil & gas, fertilizer plants, etc.
- Temasek, OGCI Climate Investments, Delek US, Hesta AG, 3M Ventures, Full Circle Capital, GE Vernova, Japan Energy Fund, Liberty Media, M&G Catalyst, Samsung Engineering, TechEnergy Ventures, and United Airlines Ventures also participated in the round.
- The company aims to use the funding to boost its manufacturing process.
- Founded in 2007, the company has raised nearly $500M so far.
- Svante is based in British Columbia, Canada.
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DSD Renewables has raised $155M in debt to develop and fund clean-energy projects. The company is based in New York. More: - DSD's portfolio consists of about 56% onsite solar and 44% community solar projects that are currently active in 11 U.S. states.
- Through its installations, DSD claims to have helped customers reduce their energy costs by 75%.
- Some of its clients include Home Depot, MGM, LG, PCG, etc.
- The company aims to use the funding to pay down its debt, boost its growth, and fund potential acquisitions.
- This funding round was led by Credit Suisse Securities.
- Since its inception, DSD has raised $1.5B.
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💵 Today's funding: Biotech - BillionToOne, Inc. (California), a molecular diagnostics company that aims to make molecular testing more accessible: $83.5M Growth equity and debt by Libertus Capital, Hummingbird Ventures, Baillie Gifford, Adams Street Partners, Neotribe Ventures, Fifty Years VC, Norwest Venture Partners, and Time BioVenture.
Crypto/Web3 - Axelar (Canada), a decentralized communication network built for Web3: $60M Growth by Blockchange, Chorus One, Collab+Currency, Cygni, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, SCB 10X, etc.
- Foundation Devices (Massachusetts), aims to develop industry-leading crypto hardware wallets: $7M Seed led by Polychain Capital, with participation from Greenfield Capital, Lightning Ventures, Third Prime, Warburg Serres, Unpopular Ventures, and Bolt.
Health tech - Azalea Health (Georgia), provides digital healthcare software solutions such as electronic health records, revenue cycle management, telehealth, etc.: $45M Growth led by CIBC Innovation Banking.
Venture Capital Transport - Xeal (New York), an electric vehicle charging network that enables residents who install it in their properties to earn money: $10M debt led by Bridge Bank.
Sports - National Cycling League (Florida), a cycling sports league powered by proprietary technology: $7.5M Seed led by Will Ventures with participation from Founder Collective, Collab Capital, Impellent Ventures, Bradley Beal, Jalen Ramsey, Derwin James, Kevin Byard, Casey Hayward, Michele Roberts, Rachel Lindsay, and Emmanuel Acho.
Climate tech - Samara (Spain), a solar energy company that installs panels, batteries, and other complementary infrastructure: $4.7M Seed led by Seaya and Pelion Green Future.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | 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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