Small Business Finance News
Venture Capital Deals: August 26, 2022
Written by Ken Gaebler
Published: 8/26/2022
Are VC transactions getting smaller? Based on today's admittedly small sample size, maybe so.
Less than $150 million in total deal value today. There's talk of VC activity not slowing down per se, but just doing smaller amounts at lower pre-money valuations.
I haven't done a deep dive on my data, but my sense is that's correct. Take a look at today's deals below and you'll see what I mean.
Arevia Power
Alternative energy venture Arevia Power raised an undisclosed amount from lead investor KKR, with support from GCM Grosvenor. Based in Glendale, California, the company is a developer of utility-scale solar and wind projects.
Bite Ninja
HRTech venture Bite Ninja closed an $11.3 million venture capital round. AgFunder, Manta Ray Ventures, Owl Ventures, Pioneer Fund and TRAC VC invested. Based in San Jose, California, the company equips restaurants with remote order takers to solve the industry's biggest customer-service challenges.
CurbWaste
Waste industry software solutions provider CurbWaste closed a $6 million seed financing round. B Capital Group took the lead on making the investment. Other investors included Mucker Capital. The company is based in New York City.
Dryad Networks
Environmental startup Dryad Networks secured a $10 million Series A funding round. eCapital Entrepreneurial Partners AG took the lead on making the investment. Other investors included Semtech Corporation, Time Ventures and Toba Capital. The company is based in Eberswalde in Germany and provides ultra-early fire detection as well as health and growth monitoring solutions for public and private forests.
EeroQ
Semiconductor venture EeroQ landed a $7.3 million seed financing round. B Capital Group took the lead on making the investment. Other investors included Alumni Ventures, Calibrate Ventures, Red Cedar Ventures, Unbound and VCapital. The company is based in Chicago, Illinois and is working on next generation quantum computers, using eHe trapped electrons.
Freedom Biosciences
Biopharmaceutical company Freedom Biosciences closed a $10.5 million seed investment round. MBX Capital took the lead on making the investment. Other investors included PsyMed Ventures, Startup Yale and Village Global. The biopharmaceutical company is based in San Francisco, California.
Hazeltree
Fintech startup Hazeltree, which provides cloud-based treasury and liquidity solutions to investment management firms, closed a $14 million funding round. FINTOP Capital took the lead on making the investment. Other investors included Hamilton Lane. The fintech company is based in New York City
LumaBridge
LumaBridge secured a funding round led by Summit Partners. The investment amount was not disclosed. Based in San Antonio, the company is an oncology-focused CRO, designing and executing innovative clinical trial solutions for emerging biopharma companies.
Lumifi Cyber
HCAP Partners backed an equity funding round for cybersecurity firm Lumifi Cyber. The investment amount was not disclosed. The company is headquartered in Scottsdale, Arizona.
Mantel
Cleantech company Mantel closed a $2 million venture capital round. The Engine took the lead on making the investment. Additional backers included New Climate Ventures . The company is based in Boston and is developing molten-salt based carbon capture technology.
Nitra
Fintech company Nitra, operating out of New York City, raised $62 million in funding from 8090 Partners, Andreessen Horowitz, Comma Capital, CoVenture, Dreamers VC, Dunamu, Expa Capital, Gaingels, Gold House Ventures, K50 Ventures, KB Financial Group, National Education Association, New Enterprise Associates, Pantera Capital, Primer Sazze Partners, Slope Capital, Soma Capital, SparkLabs Global Ventures and individual investors. The company develops tech solutions for private practice doctors.
Quivr
Washington-based Quivr announced a $3.6 million seed round. Infinity Ventures Crypto led the round. Other investors included C2 Ventures, FBG Capital, Sfermion and individual investors. The company is developing new digital identity technology.
RevSure.AI
Salestech startup RevSure.AI announced a $3.5 million seed equity round. Innovation Endeavors led the investment, with support from individual investors. The company is based in Wilmington, Delaware and is looking to challenge the status quo in revenue intelligence.
Rewst
Rewst, a startup that develops Robotic Process Automation (RPA) software for MSPs, raised $4 million in funding from lead investor TDF Ventures, with additional investment from Florida Funders, Grotech Ventures, MDJ Group and individual investors.
The Good Face Project
San Diego-based The Good Face Project secured a $5.7 million seed investment round. VMG Partners took the lead on making the investment. Other investors included Capsum, Redo Ventures, Spark Growth Ventures and individual investors. The company helps cosmetics manufacturers design transparent, sustainable and compliant beauty products based on provided scientific and regulatory resources.
Vestaboard
San Francisco-based Vestaboard snagged a $5 million seed investment round. Investors included Baroda Ventures and individual investors. The company makes messaging displays for public and private spaces.
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