Weekly-Round-Up-May 1st to May 7th
May 9th, 2023
Initial Therapeutics was founded with $75 million from Apple Tree Partners to develop a novel drug designed to prevent the formation of difficult-to-drug protein targets. Initial Therapeutics is a biotechnology business that was founded to develop drugs that block notoriously difficult-to-drug protein targets using a novel method of action: selective termination of protein synthesis.
Campus, the company transforming higher education by making community college accessible across the country, announced the opening of enrollment with $29 million in funding from Discord founder Jason Citron, OpenAI founder Sam Altman, Figma founder Dylan Field, former Stripe Issuing Lachy Groom, Bloomberg Beta, Founders Fund, Rethink Education, Reach Capital, and Precursor Ventures, among other investors.
Morgan Health, a business unit of JPMorgan Chase & Co. (NYSE: JPM) focused on improving the quality, equity, and affordability of employer-sponsored health care, announced a $25 million investment in Kindbody, an established fertility clinic network and global family-building benefits provider for employers providing the full spectrum of reproductive care from preconception to postpartum through menopause. Kindbody’s Board of Directors will be joined by Dr. Cheryl Pegus, Managing Director at Morgan Health Ventures.
Mavenir, the Network Software Provider transforming networks with cloud-native solutions that run on any cloud, announced the completion of a $100 million capital raising, following a successful $250 million financing in 2022. The funding will help Mavenir’s innovative strategy of digitizing telecom networks through cloud-native applications such as IMS, Converged Packet Core, and Open RAN. Siris, a major technology-focused private equity firm and Mavenir’s largest stock holder, led the financing round, which also included investment from two extremely key ecosystem partners.
Uwill, the premier mental health and wellness solution for college and university students, has announced the completion of a $30 million Series A investment round.The investment solidifies Uwill’s position as one of the nation’s fastest growing EdTech firms and the chosen mental health partner of college leaders and students nationwide. The investment was sponsored by Education Growth Partners (EGP), a renowned private equity firm focused to delivering growth capital in the education, workplace, and learning sectors.
Convergent Therapeutics, a clinical-stage biotechnology business focused on the development of next-generation radiopharmaceuticals for cancer treatment, has completed a $90 million Series A investment led by OrbiMed and RA Capital Management, with participation from Invus. The funding will go toward the development of a pipeline of novel radioantibodies for the treatment of advanced prostate cancer, including its main program with CONV01-Î.
Slash, a hustle economy online banking platform, emerged from stealth today with $19 million in seed and Series A funding. NEA led the seed and Series A rounds, with participation from Menlo Ventures, Connect Ventures, Y Combinator, Soma Capital, and Global Founders Capital, as well as angel investors William Hockey, founder of Plaid, and Justin Mateen, co-founder and former CMO of Tinder.
Pietra, an e-commerce infrastructure firm, has raised $16 million in a new investment round headed by M13. This fresh funding will be used to extend Pietra’s platform and membership plan for e-commerce enterprises. This funding comes on top of a $5 million seed round headed by A16Z and a $15 million Series A round led by Founders Fund. Founders Fund, TQ Ventures, and Abstract Ventures were all familiar investors that took advantage of this opportunity to double down on M13.
Weekly Round-Up – April 24 to April 30
Weekly Round-Up – April 17 to April 23