At the end of the second full week of the latest yr, a great shock occurred Flexporthuge raise. This round, combined with an even greater raise from a quantum computing startup and a couple of $75 million rounds, made it a pretty solid week.
1. How muchUSD 300 million, amount: Quantinuum raised $300 million in latest equity capital at a preliminary valuation of $5 billion, as investors are clearly excited about the possibilities of quantum computing. He led the latest financing JPMorgan Chase. The company was spun off into a company headquartered in Broomfield, Colorado Honeywell in 2021 and merged with Quantum Computing in Cambridge. Quantinuum says it has now raised about $625 million. Last yr, funding for quantum computing startups reached nearly $1.2 billion on Crunchbase data. This figure dwarfs the lower than $800 million raised in 2022, making Quantum one of the few sectors to see growth in enterprise funding in 2023. While it is too early to say that enterprise financing in this sector will increase again this yr, it is clear that investors recognize the potential of each quantum technology and its ability to generate large financial returns.
2. FlexportUSD 260 million, logistics: The news broke late Friday evening – the logistics giant Flexport raises 260 million dollars from a partner and e-commerce titan Shopify after burning through lots of of tens of millions of dollars last yr, – we read in a report in The Information. This massive fundraising event is just the latest headline for the San Francisco-based startup, which just about exactly two years ago topped a valuation of $8 billion after raising a massive $935 million round. Flexport and Shopify are no strangers to transacting with each other. Last May, Flexport announced the acquisition of the assets of Shopify’s logistics business in exchange for a 13% stake in the privately held company. Shopify also gave Flexport a $40 million money infusion as a part of the deal, in response to a report by The Information. Of course, this was not the only reason why Flexport was loud last yr. In September, we received essential news regarding the then CEO of Flexport Dave Clark he suddenly left the company after only a yr and founded Ryan Petersen he was returning to take the reins as the company grappled with declining shipment volumes following the pandemic boom. Flexport also made headlines in November after acquiring Shured’s assets Jeff Bezossupported network of digital freight start-ups Convoy. Before the latest round, Shopify Flexport raised nearly $2.4 billion in equity and debt. His notable investors include: Andreessen Horowitz, MSD Partners and SoftBank Vision Fund.
3. (certain) Diagnostics in ClevelandUSD 75 million, biotechnology: There have not been many big raises this yr, but the few we have seen are likely to be related to biotech. The most up-to-date example is Cleveland Diagnostics, which closed a $75 million round with the lead Novo Holdings Company. The Cleveland-based biotech is developing diagnostic tests for early detection of cancer and will use a part of the latest revenue to expand use of its novel IsoPSA prostate cancer test. Founded in 2013, the company has raised $111 million, (*10*)on Crunchbase.
3. (certain) Comanche Biopharma$75, Biotechnology: As we said, there have been some big rounds in biotech. Concord, Massachusetts-based Comanche Biopharma has blocked a $75 million Series B round led by New employees of the company. The startup is looking for a treatment for preeclampsia, a serious pregnancy complication that affects roughly 10 million women around the world each yr. in response to the company. The problem can result in complications for each mother and baby, including multi-organ damage and seizures. Founded in 2020, the company has raised $111 million, on Crunchbase.
3. (certain) DailyPay$75 million, fintech: Waiting for your paycheck could be tedious. New York-based DailyPay just raised $175 million, so you do not have to. The company works with employers to enable employees to trace, transfer, spend or save pay as they earn it. The latest round included $100 million in prolonged credit facilities and greater than $75 million in equity financing led by Carrick Capital Partners. The round valued the company at $1.75 billion on a prepaid basis. Founded in 2015, the company has raised $1.2 billion, on Crunchbase.
3. (certain) Tr1XUSD 75 million, biotechnology: We’re not done with big increases in biotech yet. San Diego-based Tr1X got here out of hiding this week to announce a $75 million Series A led by Column group. The company develops therapies for autoimmune and inflammatory diseases. Founded in 2018, this is the company’s first round with a disclosed amount, on Crunchbase.
7. Digital implementationUSD 58 million, SaaS: Boston-based Digital Onboarding, a financial services customer relationship platform, has closed on a $58 million investment Will capital. Founded in 2015, the company has raised nearly $63 million, on Crunchbase.
8. Force$55 million, health care: San Francisco-based Forta, which uses artificial intelligence to offer access to high-quality care, raised $55 million in Series A funding led by: Insight partners. Founded in 2021, this is the company’s first round with a disclosed amount, on Crunchbase.
9. Proportional therapy$50 million, biotechnology: Boston-based Ratio Therapeutics, a pharmaceutical startup developing radiopharmaceuticals for the treatment and monitoring of cancer, has accomplished a $50 million Series B transaction from a number of investors, including Bristol Myers Squibb. Founded in 2021, Ratio has raised over $90 million for the company.
10. Smart laboratories$48 million, biotechnology: Boston-based SmartLabs, which provides lab infrastructure and resources to firms as a service, raised a $48 million Series C from several investors, including Conversion enterprise capital. Founded in 2015, the company has raised over $400 million, on Crunchbase.
Great global offers
The biggest trade of the week got here from Red Dragon.
- Based in China AaltoSemimaker of semiconductor packaging substrates, raised roughly $351 million in a enterprise round.
Methodology
We tracked the largest announced rounds reported by U.S.-based firms over the seven-day period from January 13 to January 19 in the Crunchbase database. While most announced rounds are represented in the database, there could also be a slight delay as some rounds are reported late in the week.
Clarification: This story has modified since its original publication so as to add a $260 million Flexport increase.