| |
| Hello Insiders! Today's business newsletter covers: - 🐶 Butternut Box raises $354M to deliver freshly prepared meals to dog owners.
- 🏍 Hero Motocorp invests $66.5M in Ather Energy.
- 🔋 Unicorn battery startup Polarium raises $38M to expand its operations.
If you find this newsletter useful, please share it with your friends and colleagues. Thank you. Arbër
p/Arber | |
| 1 | | Butternut Box, the U.K.-based fresh dog food company, has raised $354M to deliver freshly prepared meals to dog owners. The company has raised over $500M since its inception in 2016. More: - Butternut Box aims to offer healthy food for dogs, as 65% of dogs in the U.K. are estimated to be overweight.
- The pet food market is estimated to be worth around $100B as of 2022.
- L Catterton, White Star Capital, Five Seasons Ventures, Passion Capital, Literacy Capital, Claret Capital, and HSBC were the principal backers.
- The company claims it will use this funding round to expand in the European market.
Question: Would you invest in the pet space? What are some factors that would make you invest and/or shy away? Let us know here. |     | |
| 2 | |  What happened: Hero Motocorp has invested $66.5M in the India-based electric two-wheeler manufacturer Ather Energy. The company aims to ride on the growing momentum of two-wheelers in India, as there have already been 15 million units sold in the year.
More details: Before the investment, the company already owned 33.1% of Ather Energy. Since its inception, Ather Energy has raised over $400M from investors such as Tiger Global, NIIF, and angel investors. The company had $218M in revenue in the fiscal year ending in March and was on track to reach $1B in revenue by the end of 2023, but was affected by a recent government to cut subsidies. Why it matters: Due to their affordability, two-wheelers are India's main form of transportation, representing 70% of all vehicles. Ather Energy aims to convert this market into EV buyers, a segment that is estimated to represent 30% of all vehicles in India by 2030. | | | |
| A message from our sponsor, Wellcore. |  | | You're getting older but you don't have to feel old. With all due respect to Michael Jordan and Tom Brady, the real GOAT is Father Time. He’s undefeated, they’re not. Aging - and a significant decrease in testosterone - can wreck our mental and physical health and make us feel like a shell of ourselves. But we can fight back. Enter Wellcore. They created The Best At-Home Hormone Optimization Program On The Planet. Boosting your testosterone can improve strength, fat loss, bone density, libido, blood sugar, mood, sleep and more. *Wellcore now offers a hormone optimization program for women too. Order Wellcore's Painless At-Home Assessment Kit for only $99 (50% off) today! Get Started | |
|
| 3 | | Unicorn battery startup Polarium has raised a $38M funding round to expand its operations. The company had a 106% sales growth rate in 2022. More: - Polarium builds energy storage and optimization solutions built on lithium-ion battery technology for businesses within telecom, commercial, industrial, and residential facilities worldwide.
- The company's sales reached $171M in 2022, while its net profit reached $56M.
- Polarium is backed by investors such as Alecta, Formica Capital, and Absolute Unlisted.
- The company is based in Stockholm, Sweden.
| | | |
| 4 | | Superliminal Medicines has raised a $33M Seed round to develop therapies faster than currently possible using innovative methods. Nvidia was one of the lead investors. More: - Superliminal Medicines offers predict-design-test architecture that claims to accurately model protein shapes, which helps the system design precise structural change that maximizes the therapeutic effect.
- In addition to Nvidia, RA Capital Management, Insight Partners, and Gaingels also participated in the round.
- The company aims to use the funding to boost the development of its pipeline of small molecule drug discovery programs initially focused on high-value G protein-coupled receptor targets.
- The company is based in Boston, Mass.
| | | |
| |
|
| 5 | | Paptic has raised a $24M Series A to expand its sustainable packaging business. The European Circular Bioeconomy Fund led the funding round. More: - Paptic offers a fiber-based and recyclable material to replace plastics in packaging.
- Ecolab and Itochu Fibre also participated in the round.
- Paptic stated that the investment will help it accelerate its growth and become carbon neutral by 2030.
- Founded in 2015, the company claims that it exports its products to 50 countries.
- The company is based in Espoo, Finland.
| | | |
| 6 | | Innovac Therapeutics has raised an $18M Pre-Series A round to develop mRNA vaccines. More: - Innovac Therapeutics is a biotechnology company dedicated to developing vaccines and therapeutics for patients with unmet medical needs using its proprietary mRNA technology platforms and manufacturing capabilities.
- Elikon Venture, Vision Plus Capital, Yunion Healthcare Ventures, and TG Sino-Dragon Fund participated in the round.
- The company aims to use the funding to further develop its technology platform.
- Innovac Therapeutics has offices in Boston, Mass., Shanghai, and Hangzhou.
| | | |
| 7 | | Quick Hits: - Launch your MVP with AWS. The Build Accelerator offers access to on-demand content, technical support, and $2K in AWS Activate credits. Apply today!*
- U.K.-based Judge, a healthcare startup that aims to help patients with bladder issues, has raised $4.2M.
- Infrastructure management platform provider Facets.cloud has raised $4M in a seed funding round led by 3one4 Capital, with participation from 100x Entrepreneurs.
- Ukraine-based cryptocurrency startup Stroom has raised $3.5M.Greenfield led the round, with participation from Mission Street, Lemniscap, No Limit Holdings, and Cogitent Ventures.
- Employee retention platform Woba has raised a $3M funding round led by reSeed Ventures and EIFO.
- Instacart, ARM and Klaviyo just filed for an IPO. Get access to the Top 25 pre-IPO deals like Stripe, OpenAI Databricks and Anduril.
*This is sponsored content. | | | |
| Upcoming Events | | OCT
10 | | Optimizely is bringing back its annual conference, Opticon, to San Diego! Inside readers get a discount by using the code InsideDeal.* | | | | | | | OCT
16 | | Meet Our Fund 5, Building and Investing in AI | | | | | | * This is a sponsored event | | | |
Term of the Day Event marketing: Event marketing is a strategy that involves creating or sponsoring an event to promote a product, service, or brand. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
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 Christopher Hachey | |
| |
| |
|
| |
|
| |
Comments
Post a Comment