This week saw a change of pace on a giant circular front, because it was a biotech company quite than an AI startup that topped the rankings. Kailera Terapeutycznaobesity therapy developer led by a $600 million Series B. Other significant funding went to firms offering fractional aircraft ownership, fintech services and hair loss treatments.
1. Kailera TerapeutycznaUSD 600 million, biotechnology: Waltham, Mass.-based Kailera Therapeutics, which focuses on obesity treatments, announced $600 million in Series B financing led by Private equity fund Bain Capital. The company plans to start a Phase 3 study of an injectable therapy for obesity by the end of the yr.
2. BondUSD 350 million, aviation: Bond, a company offering partial ownership of its fleet of personal aircraft, lifted up $350 million in debt and equity financing. The financing included $320 million of debt and equity from funds and accounts managed by Kohlberg Kravis Roberts along with $30 million in equity investments from founding partners.
3. (sure) HiUSD 300 million, payroll and compliance: HR and payroll platform Deel has obtained USD 300 million in latest financing. Ribbit Capital, Andreessen HorowitzAND Coat managed the financing. The round valued the 6-year-old company at $17.3 billion, which he said its annual recurring income recently topped $1 billion.
3. (sure) Advantage$300 million, business software: Vantaca, a provider of software to homeowner associations and management firms, said it has secured a development investment of greater than $300 million, led by Cove Hill Partners. The financing values the Wilmington, North Carolina-based company at $1.25 billion.
5. CardiganUSD 254 million, biopharmaceuticals: Cardigan, a startup focused on developing cardiovascular drugs, closed on $254 million in Series B funding backed by T. Rowe Price, Faithfulness, Redwood Heritage AND Arch Venture Partners. This round brings total funding thus far to greater than $554 million per person Crunchbase data.
6. Update$165 million, fintech: Upgrade, a provider of consumer loans, bank cards and online accounts, raised $165 million in Series G financing led by (*10*)Neuberger Berman. Launched in 2017, San Francisco-based Upgrade has raised over $750 million in enterprise funding thus far Crunchbase data.
7. VeraDermics$150 million, dermatology, hair regrowth: New Haven, Conn.-based VeraDermics, a startup developing drugs for dermatological conditions, raised $150 million in a Series C round led by SR One. The funds will go towards ongoing research into an oral hair growth drug.
8. Pelage pharmaceutical company$120 million, hair loss treatment: Pelage Pharmaceuticals closed a $120 million Series B round that he co-led Arch Venture Partners AND Google‘S G.V. The Los Angeles startup is focusing on a topical small molecule designed to reactivate dormant hair follicle stem cells in men and women experiencing hair loss.
9. Peptilogy$78 million, therapies: Pittsburgh-based Peptilogics, a maker of surgical supplies to treat and prevent serious medical device infections, has raised $78 million in Series B2 financing. Presight Capital, Thiel biography AND Founders Fund led the round.
10. MD integrations$77 million, telehealth: Telehealth platform MD Integrations has raised $77 million in growth financing Update partners AND Denali Growth Partners. The New York-based company partners with digital health brands to offer access to a network of doctors for patient consultations.
Methodology
In the Crunchbase database, we tracked the largest announced rounds that were registered by US firms in the period October 11-17. 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.