StrictlyVC: November 20, 2017

November 20, 2017

 

Hi, happy Monday, everyone! Hope you had a terrific weekend. Sorry for the late send. We’re just back from Washington. (We’re still catching up on emails, btw, so know that if you wrote us, we didn’t forget you but it may take a minute).

 

 

Top News

 

The U.S. Justice Department is suing to block AT&T’s $85.4 billion takeover of Time Warner. The action is “sure to stir controversy because of President Donald Trump’s adversarial relationship with CNN, which is owned by Time Warner,” notes CNBC. Trump has repeatedly criticized CNN’s reporting, calling it “fake news.” More here.

 

 

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New Fundings

 

aCommerce, a four-year-old Bangkok, Thailand-based startup that helps brands break into e-commerce and digital media in the fast-growing region, has raised $65 million in Series B funding led by Emerald Media, an Asian firm backed by global investor KKR. Earlier investors Blue SkyMDI Ventures and DKSH also joined the round, which brings the company’s total funding to $94 million. TechCrunch hasmore here.

 

Code2040, a five-year-old, San Francisco nonprofit working to increase diversity in the technology industry, has raised $5.6 million to advance its diversity and inclusion efforts in technology. The funding comes from The Knight Foundation, The Sara and Ev Williams Foundation and others, and brings Code2040’s total funding raised to more than $7 million. TechCrunch has more here.

 

Deliveroo, the five-year-old London-based restaurant ordering and delivery platform that at September’s end raised $385 million in Series F funding, has added another $98 million to the round led by T. Rowe Price Associates and Fidelity Management & Research Company. The new cash brings the round to $480 million altogether and Deliveroo’s total funding to nearly $1 billion. TechCrunch hasmore here.

 

Kabbage, an eight-year-old, Atlanta, Ga.-based company that makes loans to small businesses using machine learning to determine an applicant’s eligibility, has secured $200 million in funding from Credit Suisse in the form of a revolving credit facility that it will use for loans. The company had raised a separate $250 million in equity funding from Softbank earlier this year. TechCrunch has more here.

 

Locus Robotics, a three-year-old, Wilmington, Ma.-based maker of autonomous, mobile robots for use in e-commerce fulfillment warehouses, has raised $25 million in Series B funding led by Scale Venture Partners. Earlier (unnamed) backers also joined the round. More here.

 

Oviva, a three-year-old, Switzerland-based digital dietician looking to help patients across the U.K., Switzerland, and Germany improve their health, has raised $12 million in Series A funding. Albion CapitalEight Roads VenturesF-Prime Capital PartnersPartech Ventures and Walking Ventures participated in the round. More here.

 

Peanut, a 1.5-year-old, London-based app that seeks to connect new mothers based on common interests, has raised an undisclosed amount of seed funding co-led by Sweet Capital Investment and Female Founders Fund, with participation from Greycroft Partners and Sound Ventures. UKTN has more here.

 

Scalyr, a six-year-old, San Mateo, Ca.-based cloud-based service for high-speed log management and server monitoring, has raised $20 million in new funding investment led by Shasta Ventures, with participation from previous investorsBloomberg BetaSusa Ventures and Heroic Ventures. Today’s money brings the total investment to $28 million, according to company CEO and co-founderSteve Newman. TechCrunch has more here.

 

Tech In Asia, a six-year-old, Singapore-based media and events startup, has raised $6.6 million in fresh funding led by Hanwha Investment and Securities, an affiliate of Hanwha, a Korean conglomerate. TechCrunch has more here.

 

Sun Art Retail Group, a publicly traded, Hong Kong-based supermarket conglomerate with a market cap of more than $10 billion, has sold a 36 percent stake in its business to Alibaba Group for roughly $2.9 billion, says The Information. As the outlet notes, the deal accelerates Alibaba’s expansion into the offline world. More here.

 

Zego, a 1.5-year-old, London-based startup that insures on-demand workers, has raised £6 million ($7.9 million) in Series A funding led by Balderton Capital, with participation from earlier backers, including LocalGlobe. TechCrunch has more here.

 

 

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New Funds

 

Space Capital Partners, a year-old, New York-based early-stage venture firm that invests in the commercial space industry, is looking to raise up to $50 million for its debut fund, suggests a new SEC filing. According to its site, the firm is led by Chad Anderson, formerly of JPMorgan. Former Skybox Imaging president and CEO Tom Ingersoll is also a general partner. (We’re still hoping some team might name themselves Space Cowboys. Would someone please do this?)

 

 

IPOs

 

Casa Systems, a 13-year-old, Andover, Ma.-based company that provides infrastructure for cable companies to enhance broadband speeds, filed on Friday with the SEC to raise up to $150 million in an IPO. Nasdaq has a bit more here.

 

Stitch Fix, a mail order clothing service, finished its first day of trading up just 1 percent on Friday, raising $120 million after pricing at $15, below the expected range of $18 to $20. (Today, it closed at $14.85 per share.) As TechCrunch notes, the company is growing at a healthy clip; it also has a growing number of competitors. More here.

 

SailPoint Technologies also traded for the first time this past Friday, closing up 8.3 percent at $13. The Austin, Tex.-based cybersecurity company had priced its IPO at $12 per share late Thursday, above the expected range of $9 to $11. Today its shares closed at $13.50. MarketWatch has more here.

 

 

People

 

Sarah Catanzaro has joined Amplify Partners in Menlo Park, Ca., as a principal. Catanzaro was previously a data partner at Canvas Ventures, which she’d joined last year.

 

Mark Danchak has joined the three-year-old, early-stage firm WorldQuant Ventures as managing director; Danchak, who previously was a partner with Carbon6 Ventures, will co-run the firm with another managing director, Steven Lau. (WorldQuant is a private investment vehicle for WorldQuant’s founder and CEO, Igor Tulchinsky.)

 

FanDuel CEO and co-founder Nigel Eccles is leaving to start an eSports company,says Recode.

 

Steve Jurvetson was elbowed out of his firm, DFJ, over concerns that his professional and personal lives intersected in messy ways at too many points,reports Recode.

 

Inside the wedding last Thursday of Reddit cofounder and investor Alexis Ohanianand tennis great Serena WilliamsIn Vogue.

 

Pact Coffee founder Stephen Rapoport is resigning his role as CEO and becoming chairman of the five-year-old, U.K.-based, venture-backed subscription service, which delivers freshly roasted “specialty coffee” to customers’ doors. The company traces the move to its decision to focus more on the B2B side of its business. TechCrunch has more here.

 

Shasta Ventures, the early-stage venture firm formed in 2004, has promoted three of its principals — Nikhil Basu Trivedi, Jacob Mullins and Nitin Chopra — to partner. TechCrunch has more here.

 

Peter Thiel, the powerful tech investor who was an early and vocal supporter of President Donald Trump, is no longer working with the startup incubator Y Combinator. Neither side is saying why, says Business Insider.

 

23andMe CEO Anne Wojcicki talks with Maureenn Dowd of the New York Times about a couple of terrible, no good years —  and how she has fought her way back from them.

 

 

Data

 

Tencent just became the first Chinese company to be valued at more than $500 billion. The 19-year-old company is trailed closely by Alibaba, valued right now at $474 billion. TechCrunch has more here.

 

Eegh. Almost half of all drivers working for a private hire or taxi operator that were convicted of a sexual offense in London last year were driving for Uber, new data from the Metropolitan Police has revealed. Business Insider has more here.

 

 

Essential Reads

 

Uber plans to buy up to 24,000 self-driving cars from Volvo, marking the transition of the U.S. firm from an app used to summon a taxi to the owner and operator of a fleet of cars.

 

While he thinks through his next robotics company, driverless-car pioneer (and central figure in Waymo’s lawsuit against Uber) Anthony Levandowski is pitching a new god.

 

And last but not least in Uber news, it just added live location sharing, so you can share with your driver exactly where you are.

 

 

Detours

 

Why Northern Lights tours are the trip of the moment.

 

People who speed-listen to broadcasts.

 

Instead of pardoning two turkeys this year as is the presidential tradition, President Donald Trump will be executing the turkeys pardoned last year by former President Barack Obama. With his own hands.

 

 

Retail Therapy

 

Send a message (we’re not sure which) with these leather trash bags.

 

 

 


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