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| Hello, Insiders! Happy Monday. Let's dive into today's VC news highlights: - Nucleus Radiopharma raises $56M Series A to develop new therapies for cancer.
- VC funding in the US, China, UK, and India in Q1-Q3 drops compared to 2022.
- Procurify raises $50M Series C funding round.
Venture capitalists pitch to founders in our live-stream reverse demo day event, "Meet Our Fund 5," happening today.
Check it out! If you find this newsletter useful, please share it with your friends and colleagues. Thank you. Arbër
p/Arber | |
| 1 | | Nucleus Radiopharma has raised a $56M Series A to develop new therapies for cancer through targeted radiotherapy. The company is headquartered in Rochester, Minnesota. More: - Nucleus RadioPharma is a full-service Contract Development and Manufacturing Organization.
- The company's Radioligand therapy aims to expose cancerous cells to radiation that will destroy them while leaving healthy tissues unharmed.
- Eclipse and GE HealthCare led the funding round, with participation from Echo Global, Fox Chase Cancer Center, Granger Management, Mayo Clinic, Mercy Health, and the University of Missouri.
- The company aims to use the funding to build new manufacturing plants, with the first one set to be built in Minnesota.
Q: Do you think investors are more keen to invest in biotech startups since the COVID-19 pandemic? Join the conversation here. |     | |
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VC funding in China during the first nine months dropped by 25% compared to 2022. The U.S., U.K., and India all performed worse, with funding decreasing as much as 42%. More: - The 2,147 funding deals announced in China made up 15.8% of all VC funding deals announced globally during Q1-Q3 2023.
- The VC funding deal volume in the U.S. in the first nine months of 2023 dropped by 40.3%, 25.9% in the U.K., and 42.3% in India, compared to the same period in 2022.
- A total of 811 VC funding deals worth $5.5B were announced in India during this period, a 70.4% drop in terms of funding value.
- India accounted for 5.3% of all VC funding deals announced globally during Q1-Q3 2023.
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| 3 | | Procurify, a spending management platform, has raised a $50M Series C funding round. The company claims it helps its clients manage over $30B. More: - Procurify is an all-in-one intelligent spend management platform that merges Purchasing, AP Automation, and Data Analytics into one.
- The company aims to use the funding to develop its AI-based technology.
- Ten Coves Capital and Export Development Canada led the round, while Information Venture Partners and HarbourVest also participated in this Series C.
- The company is based in Vancouver, Canada.
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| 4 | | Nova Credit has raised a $45M Series C to provide alternative credit data to lenders. Y-Combinator was one of the lead investors in the round. More: - Nova Credit is a data analytics company that extracts credit data to help lenders improve their decision-making by offering multiple sources of data that are different from conventional ones.
- The company has clients such as American Express, Verizon, HSBC, SoFi, Scotiabank, and Yardi.
- General Catalyst, Index Ventures, Kleiner Perkins, Avid Ventures, Geodesic Capital, Harmonic Capital, Radiate Capital, and Socium Ventures also participated in the funding.
- Nova Credit aims to use the funding to expand to new markets.
- The company is based in San Francisco.
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| 5 | | ScyllaDB has raised a $43M funding round to help data-intensive apps reduce latency and scale faster. The company has clients such as Samsung, Disney+, Expedia, and Starbucks. More: - Scylla DB for offering NoSQL database technology, a market that is estimated to grow to $35.7B by 2028, up from $7.3B in 2022.
- ScyllaDB claims that its revenue has grown 800% since being founded in 2012.
- Eight Roads Ventures led the funding round, with participation from AB Private Credit Investors, AllianceBernstein, TLV partners, Magma Ventures, and Qualcomm Ventures.
- The company will use the funding to expand its team.
- Since its inception, the company has raised $103M.
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| 6 | | Evident Vascular has raised a $35M Series A funding round to develop an intravascular ultrasound platform. Vensana Capital was the lead investor. More: - Evident Vascular is developing an intravascular ultrasound platform technology designed initially for peripheral vascular interventions, with future capability for coronary procedures.
- This solution helps in acquiring images from inside blood vessels to evaluate vascular disease and guide interventional treatment, an increasingly important help in treating peripheral arterial and venous disease, which is now the largest and fastest-growing disease in the U.S.
- The company aims to use the funding to expand operations, the R&D sector, and its business reach.
- Evident Vascular is based in San Jose, California.
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- Joor, a NYC-based digital wholesale management, has raised a $25M funding round led by Brightwood Capital and Tamarix Capital Partners.
- Ohio-based Society Brands has raised $25M in funding from Gullane Capital, Callais Capital, and North Coast Ventures.
- Clean-energy company NovoHydrogen has raised $20M. Modern Energy led the funding round.
- QuoteMachine, a Canada-based that provides software solutions for retailers, has raised a $3.7M Seed round.
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Term of the Day Trade deficit: A trade deficit occurs when a country imports more goods than it exports. Question of the Week What perks would convince you to return to the office? 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 Aaron Crutchfield | |
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