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| 1 | | TDK Ventures has raised a $150M fund to invest in materials science companies. The firm now has $200M worth of assets under management. More: - TDK Ventures is the investment arm of TDK Corporation, a Japan-based electronics manufacturer that specializes in magnetics technology.
- The company aims to invest in fields that are underrepresented, such as materials science and energy.
- Its focus is primarily on startups located in the U.S. and Europe.
- The firm currently has offices in San Jose, Boston, Tokyo, and Bengaluru.
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| 2 | | Europe risks missing its climate targets due to a VC funding gap, according to a new World Bank report. Climate tech only represented 13% of the total VC funding in 2022. More: - The new report claims that for the EU to reach its goal of reducing emissions by 55% by 2030, it would need to invest over $1T annually.
- Furthermore, 29% of emission reductions would need to come from new technologies, such as batteries and renewable energy.
- By 2050, 50% of emission reductions would need to come from technologies that are yet to be developed.
- Since 2014, the EU has spent over $60B in climate tech R&D from the Horizon Europe program, with an additional $36B in funding expected by 2027.
- The report claims that this figure makes Europe a leader in R&D capital allocation globally, but a lack of VC funding for climate startups could risk its status as No. 1 in this sphere as well.
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| 3 | | Wealth management firm Elkstone has closed a $108M fund to invest in early-stage Irish startups. Its portfolio companies have raised over $600M in follow-up rounds. More: - Elkstone has already deployed 10% of this fund across six investments:
- Bluedrop Medical,
- MEG,
- Inclusio,
- Allsorter
- Danalto,
- and Output Sports.
- Its previous investments include two unicorns and other companies such as:
- Flipdish,
- LetsGetChecked,
- Manna,
- Soapbox Labs,
- and Protex AI.
- Elkstone aims to deploy the funds completely by the end of 2026.
- The fund, officially named the Elkstone Ireland Venture Fund, has over 250 Limited Partners.
- The company claims that its portfolio startups have created over 1,000 jobs.
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| 4 | | India-based fintech startup PhonePe has raised a $100M funding round from General Atlantic, reaching a $12B valuation. PhonePe is now India's most valuable fintech startup. More: - PhonePe enables users to send and receive money, make utility payments, pay at shops, invest in tax-saving funds, liquid funds, mutual funds, digital gold, buy insurance, etc.
- The platform currently has over 450 million users in India.
- The company recently claimed that it is on track to process $1T worth of annual transactions.
- PhonePE is backed by investors such as Walmart, General Atlantic, Tiger Global, and TVS Capital.
- This latest funding means the company has now raised $850M for its ongoing funding round.
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| 5 | | Instawork has raised a $60M Series D funding round to connect hospitality businesses with local workers. The company has now raised $160M since its inception. More: - The company claims that it currently connects over 4 million hourly workers with businesses in the hospitality, food&beverage, and logistics industries.
- The platform is available across 30 different US markets and Canada.
- TCV led the funding round, with participation from 9Yards Capital, Benchmark, Spark Capital, Craft Ventures, and Greylock.
- According to the company, this funding round will be deployed exclusively toward the development of AI capabilities.
- Founded in 2016, Instawork is based in San Francisco.
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| 6 | | Forward Ventures has launched a $50M fund to invest in media and wellness companies. The company has vowed to donate 10% of its profit to three charities. More: - Forward has already invested in companies such as:
- Audio Up,
- Goodles (co-founded by actress Gal Gadot)
- Partake,
- Samsara,
- and Starface.
- The company will donate its profit to three charities that help women launch their own businesses, help entrepreneurs fund their ideas, and help underserved youth prepare for the workforce.
- Forward's founder, Will Ward, has launched numerous businesses, including the health and wellness app Centr together with Chris Hemsworth.
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- Fintech startup Jia has raised a $4.3M Seed round led by TCG Crypto, with participation from BlockTower, Hashed Emergent, Saison Capital, and Global Coin Research.
- Canada-based home equity solutions company Bloom Finance Company has raised a $7M Series A round led by SixThirty Ventures.
- Liceo de Farmacia has raised a $541,000 pre-seed round to provide digital tools for pharmacies.
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INSIDE VENTURE CAPITAL LEADERBOARD (7 DAYS) |
 | Writer | | 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. | | This newsletter was edited by Aaron Crutchfield | |
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