GV, formerly Google Ventures, is doubling down on its bets on healthcare and life sciences innovation. Ben Robbins, GV’s newest general partner, aims to help the firm ramp up its investments in new healthcare services and technologies. GV is backed by Alphabet and has over $8B in assets under management. The firm focuses on life science, enterprise technology, consumer products and services, and frontier technology. More: - GV has deployed $1.3B into healthcare and life science companies since 2020; some notable investments include One Medical, Flatiron Health, Grail, and 23andMe.
- Robbins hopes GV will continue making big bets on companies and technologies that create meaningful change in how patients and providers experience care.
- Robbins has been at GV since 2014 and has invested in more than 20 companies to date, including Carebridge, Patina Health, Headway, and Brightline.
- Health tech and life sciences make up about a third of GV portfolio companies.
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 YoY Ecommerce Software investment Crunchbase data indicates 122 funding rounds have been completed by e-commerce software providers so far this year, raising $2.77B. $1.76B was invested over 76 investment rounds in Q1, with the amount falling to $1.01B from 49 rounds in the following quarter. Ecommerce software startups are expected to see the same decline in investment as the overall e-commerce industry as customer spending recedes on account of rising inflation. More: - Funding for the first quarter of this year was strong, with the quarter's total nearly matching the $1.84B spent across 426 deals in the entire 2020.
- Funding for the sector for all of last year amounted to $4.8B across 389 funding rounds.
- The largest funding rounds for the sector this year include Cart.com's $240M debt and equity fundraise in February, Salsify's $200M Series F at $2B valuation in April, and Route's $200M Series B at $1.25B valuation in February.
- Other significant fundraising rounds include Shoplazza's $510M Series C and Zoovu's $169M Series C.
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 A message from BOXABL Don’t miss out on the opportunity to invest in the future of housing alongside 20,000 investors, including America’s largest homebuilder, DR Horton. The company plans to do what Henry Ford did for the auto industry for the home construction industry by setting up the most advanced housing factory. Why Boxabl? - Setting up a 170,000 sq ft manufacturing facility in less than one year
- Raising over $100M from over 15,000 investors
- Elon Musk shouted out the Las Vegas-based company calling Boxabl a “cool product.”
- Achieving LEED certification and hurricane wind ratings on all houses
- Strategic partnership and investment from the largest home builder in the USA, D.R. Horton Inc.
- Over 50 patent filings due to considerable innovations in building technology
- Factory 2 is now under construction
- Customer waitlist of over 100,000 pre-orders, indicating potential demand worth billions of dollars
- Guided by Volkswagen Group's Porsche Consulting Inc. for the design and implementation of Boxabl’s new factory
- Shipping houses every day
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Global fintech investor Portage is soliciting investments for its new Portage Capital Solutions Fund. The fund will focus on leading structured offerings over $50M into global late-stage fintech and financial services companies. The firm is looking to raise between $750M and $1B in capital commitments, with the first close for the fund expected to occur in November, per sources close to Reuters. More: - Startups can raise a mix of equity and debt financing through the structured fund without reducing their valuation, as would be the case in traditional fundraisings.
- During the fundraising, the firm will lock in a current valuation, but “can price at a later point in time, at a future event or now, at a higher valuation, depending on the downside protections,” said co-founder and CEO Adam Felesky.
- Portage will anchor the fund with $200M capital.
- The firm expects to lead investments by pouring around $100M into rounds averaging $150M total.
- The Toronto-headquartered firm, a subsidiary of multi-asset manager Sagard, has over $3B in assets under management.
- Notable portfolio companies include Alpaca, Clearbanc, and Wealthsimple.
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Crypto venture firm Variant has raised $450M for a new umbrella fund focused on Web3, Blockchain, and DeFi projects. $150M of the Variant Fund III will go to seed stage Web3 projects, while the remaining $300M will double-down on current projects that have demonstrated traction. The move comes as VCs appear to have cooled on crypto investments following a drop in the price of cryptocurrencies. More: - According to Crunchbase data, venture capital investments in crypto declined 26% in H1 compared to last year.
- $9.3B in venture capital went to crypto startups in H1 2022 compared to the record $12.5B invested in crypto projects in H1 2021.
- Variant was founded in 2020 by Andreessen Horowitz veterans Li Jin, Spencer Noon, and Jesse Walden.
- The firm launched with a $22.5M fund, followed by a $110M second fund announced last October.
- Some of Variant's portfolio companies include privacy-focused smart contract platform Aztec Network, Ethereum-based DeFi protocol Euler Finance, Polygon, and Uniswap.
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Bill Gates’ clean tech investment fund, Breakthrough Energy Ventures, led a $20M Series A investment round in air conditioning startup Blue Frontier. Blue Frontier is working on technology to make air conditioning more efficient with fewer harmful environmental by-products. The company’s air conditioner uses a salt solution as a liquid desiccant to do both the cooling and dehumidification work done by refrigerants in conventional air conditioners. More: - According to data from the Department of Energy’s National Renewable Energy Laboratory, air conditioning is responsible for about 4% of global greenhouse gas emissions.
- Some of the chemicals used in refrigerants deplete the ozone layer.
- Blue Frontier’s salt solution can also act as energy storage, which would help reduce energy demand on hotter days.
- The company aims to make the century-old air conditioning technology as efficient as possible while fighting climate change.
- Blue Frontier is based in the greater Miami area; the company was founded in 2018 by Matt Graham (VP of Engineering), Daniel Betts (CEO), and Matt Tilghman (CTO).
- Blue Frontier has raised $21.1M to date; other investors include Volo Earth Ventures, Copenhagen-based 2150, and Modern Niagara.
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Israel-based Diagnostic Robotics secured $45M financing to accelerate product development and grow its marketing and sales team. The firm provides AI-powered care management solutions for healthcare providers, insurers, and patients. The Series B round was led by StageOne. More: - Other participants in the funding include Mayo Clinic, Technion-Israel Institute of Technology, Bradley Bloom, and others.
- The fresh funding brings the company’s total funds raised to date to $69M.
- Its last fundraise came in late 2019 in the form of a $24M Series A investment led by Accelmed and Mivtach Shamir Holdings.
- The company tripled its revenue last year and has continued the growth into this year.
- Its automated clinical assessment platform leverages predictive models to monitor patients for deteriorating medical risks.
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Quick Hits: - Jennifer Lopez's and Aaron Rodgers' newest bottled coffee investment. Get 30% off two 12-packs!*
- Biotech startup Novasenta Inc closed its Series A round with $40M in financing. UPMC Enterprises led the fundraising for the firm, which is developing advanced novel cancer therapeutics.
- Facility management SaaS solution developer Fexa raised $40M in funding from Mainsail Partners.
- Microsoft's venture fund M12 participated in single-cell analysis biotech startup Ozette Technologies' $26M Madrona Venture Group-led Series A fundraiser, along with Cercano Management.
- Estonia-based Crypto SNACK received a $50M investment from GEM Digital Limited. Over 800 businesses accept the company's community-focused utility token as a form of payment.
- Payroll solution platform B9 Inc secured $2.6M in funding from its seed+ funding round. Sky Light Invest led the funding. The funding adds to the firm's existing $5M seed capital from 2021.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. Vanessa Omeokachie is a Researcher at Inside. Her interests include finance, tech, and startups. In her free time, she enjoys reading, hiking, attending music festivals, and traveling. | | | | 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 Ford. | |
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