Connect with us

Monthly Funding Recap November 2020: 14 New Unicorns From Meal Kits To Virtual Events, And M&A Ramps Up

Global funding slowed down a little in November, year over year, following a blockbuster third quarter. All told, global funding last month came in at $23 billion, down 12 percent from November 2019, according to Crunchbase data….

Published

on

Global funding slowed down a little in November, year over year, following a blockbuster third quarter. All told, global funding last month came in at $23 billion, down 12 percent from November 2019, according to Crunchbase data.

Subscribe to the Crunchbase Daily

Invested dollars in 2020 outpaced 2019 in both the second and third quarters, but is unlikely to do so in the final quarter of the year.

Key findings

  • Global funding in November 2020 came in at $23 billion, down 12 percent from November 2019.
  • Unicorn creation continued with 14 new unicorns joining the board in November.
  • M&A heated up in November 2020 with 145 exits at $23.7 billion.

New unicorns keep pace

November’s new unicorns hail from six countries, with eight headquartered in the U.S. The most highly valued are: Klaviyo, a marketing automation company based in Boston, which raised a $200 million round led by Accel valuing the company at $4.2 billion; Better.com, a New York-headquartered home-financing platform, also raised $200 million from L Catterton at a $4 billion post money valuation; and Relativity Space, from Long Beach, California, which has built its own 3D printed rocket, raised the largest round this past month at $500 million led by Tiger Global Management.

The company with the fastest time to unicorn is U.K.-based Hopin, a live virtual events platform founded in 2019, which announced its seed and Series A and B rounds in 2020. The company has scaled from 5,000 registered users and 1,800 organizations in pre-COVID March to 3.5 million users and over 50,000 organizations that have hosted events.

Rounds above $100 million—not all to unicorn companies—continued to dominate in 2020, with 60 percent of overall capital awarded to 48 companies this past month.

Decacorn valuations

The single decacorn valuation in November went to Manbang Group, a truck-hailing logistics company headquartered in China that connects shippers with drivers. It raised $1.7 billion at a $12 billion post money valuation led by SoftBank Vision Fund, Sequoia Capital China, Permira and Fidelity. The company claims to be profitable and has said it connects more than 10 million drivers and 5 million cargo owners.

A recent Crunchbase News analysis found increased interest in funding for the supply chain as “digitization and visibility could lead the next wave of investment.”

Active investors

Of the 15 most active investors in November 2020, seven represent private-equity or growth-stage investors.

Corporate venture firms Sapphire Ventures, GV and Qualcomm Ventures lead on this list as well as multi-stage venture firms GGV Capital, Sequoia Capital, Accel, and General Catalyst. And recently founded Acrew Capital upped its investing pace significantly in November, leading three out of four funding rounds in new portfolio companies.

“At Acrew, we are seeing significant acceleration of digital adoption in many of our core thesis areas. All four of these investments are great examples of companies where the need for their offering is even more pronounced in a remote world: Cato with enabling secure remote network access usage for employees; HMBradley with digital-first banking; Observable with collaborative data visualization; and Solv with fast access to remote urgent care,” said Lauren Kolodny, a founding partner at Acrew Capital.

M&A increases

M&A deals are up in 2020 with February, September and November the three standout months for acquisitions with disclosed amounts. In November, a total of 10 companies were acquired at $1 billion or more—a far higher count than any other month in the past two years. Other standout months each include multiple acquisitions above $5 billion.

Key sectors for M&A of private companies include delivery, customer engagement, workflow management, supply chain and cybersecurity.

Of those sectors, notable acquisitions in customer engagement include: Kustomer by Facebook to engage more with its small business customers; Adobe acquired Workfront, a work management platform for marketers; Coupa, a public company that manages business spend, acquired LLamasoft to improve supply chain design and optimization for its customers; and private-equity firm Vista Equity Partners acquired Gainsight for optimizing customer experience and Pipedrive, a CRM company for sales.

IPOs

The initial public offering market for venture-backed companies slowed down in November. But December is likely to be a high-profile month with Affirm, Airbnb, DoorDash, Roblox and Wish all expected to go public before the end of the year. Collectively, these companies have raised $10.8 billion and are valued at $52 billion as of their last private valuations.

December is likely to be busy with liquidity events, including Slack’s pending acquisition by Salesforce1 and a half-dozen or so companies still seeking to go public before the end of the year.

On the horizon

November marks Crunchbase News’ final monthly recap for 2020. We head into 2021 with COVID-19 vaccines on the horizon, promising some return to normalcy next year. But our societies are also indelibly altered. Local businesses are boarded up. Corporations are rethinking the function of the office. Services in entertainment, shopping, fitness, health, education and finance are on paths to more fully cater to us in our homes.

Still, the pandemic—and a record vaccine development timeline—also showed us how we as a society can solve even the most difficult of problems, aided by investments in innovation. Let’s hope a decade of venture investment totaling $1.8 trillion—with $270 billion just this past year to date—sets us up to further innovate for higher productivity and a better quality of life in the new year.

Methodology

Pro tip: Crunchbase Pro allows users to easily query the dataset. Here are some useful queries used in this report. See the Crunchbase Pro list for November global funding information. Pro users can save the list to their account, filter by location and match it against target customers.

View the full list of private unicorns here and the list of emerging unicorns here.

Learn about companies that recently went public, and perform Pro searches for recent venture-backed acquisitions here.

All 2020 unicorn IPOs are listed here.

Funding rounds included in this report are seed, angel, venture, corporate-venture and private-equity rounds in venture-backed companies. This reflects data in Crunchbase as of Dec. 3, 2020.

Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.

Illustration: Dom Guzman

Source: https://news.crunchbase.com/news/funding-recap-november-2020/

monthly-funding-recap-november-2020:-14-new-unicorns-from-meal-kits-to-virtual-events,-and-m&a-ramps-up

Entrepreneur

Penny Stocks To Buy For Under $1 On Robinhood

Are Penny Stocks Under $1 on Robinhood Worth It?

Published

on

Free Book Preview Money-Smart Solopreneur

This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success.

April 15, 2021 6 min read

This story originally appeared on PennyStocks

3 Penny Stocks to Watch That Are Trading Higher Today

Many penny stocks have shown bullish action in April. While there are bad days in the market, investors seem hopeful about the future. Some of this can be attributed to recent positive updates about the pandemic. In the U.S., COVID cases have rapidly declined in the past month alone. This is in part due to the millions of vaccine doses that have been distributed.

According to the most recent data, 36% of the population has received at least one dose of a vaccine. Because of this, many believe that economic recovery could occur in the coming months. Additionally, factors like solid retail numbers and low unemployment, show that the future could be bright. As a result, many penny stocks are increasing in value.

If you are looking to invest in penny stocks, there are a few options. While you can buy stocks under $5 through many brokers, traders have recently turned to newer platforms. This includes those like Robinhood and WeBull. In the past, buying and selling stocks was a rather tedious process for non-institutional investors. However, the rise of easy-to-use brokers and social platforms like Reddit has increased the number of retail traders out there.

And while these platforms are easy to use, they often won’t allow access to OTC or over-the-counter markets. This is where a large portion of penny stocks reside. While finding stocks under $1 can be challenging on Robinhood, there are plenty of them out there to take a closer look at.

[Read More] 4 Reddit Penny Stocks to Watch Before the End of the Month

Before you dive headfirst into penny stocks, it’s worth noting that they can be more volatile than blue chips. While it depends on the sector, in general, stocks under $5 and especially those under $1 can carry a high-risk profile. That being said, there are lots of penny stocks to watch in April 2021. With this in mind, here are three that posted large movements on April 15th.

Penny Stocks To Buy For Under $1

ToughBuilt Industries Inc.

ToughBuilt Industries is a company that has been trading heavily off of speculation in the past few days. Before we get into why; let’s talk about what the company does. ToughBuilt is a manufacturer of home improvement items and construction-related products. It offers everything from tool belts and tool bags to storage solutions, saws, and more. On March 26th, the company released an update that most likely affected its intraday trading volume.

This update came as ToughBuilt released its fiscal 2020 results. In the results, TBLT announced revenue growth of 106% to $39.4 million. Additionally, its gross profit shot up by 162% to $14.7 million. This is compared to $5.6 million in the previous year. Both of these numbers represent sizable gains and show that fundamentals might actually be driving its recent price action.

“ToughBuilt has demonstrated strong fundamentals based on execution team, customer relationships, balance sheet, commitment to research and development and continued customer service.”

CEO of ToughBuilt, Michael Panosian

This year, Toughbuilt is focusing on building out its product lines as well as its global distribution. It aims to offer a wider range of products as well as new and innovative equipment.

Despite TBLT falling in value on April 15th, this balance sheet could have larger implications for the long term. It’s common to see a stock either move up or down very quickly on the day of a balance sheet release. Because its numbers are quite good, TBLT stock could be worth watching in the coming days.

Penny_Stocks_to_Watch_ToughBuilt_Industries_TBLT_Stock_ChartGreat Panther Mining Ltd.

If you’ve invested in the market in 2021, you’ve probably seen the solid performance of the mining industry. During that time, many mining penny stocks like GPL, have jumped up in value.

One of the driving factors of this is the increasing prices of gold and silver. Because of fears of long-term inflation, investors have turned to safe-haven assets like precious metals. This includes gold and silver. As we turn the corner in April, many mining stocks are continuing to carry this momentum.

Great Panther Mining is a perfect example of the solid momentum with mining stocks right now. GPL operates as a mining and exploration company based out of Canada. It explores and mines gold, silver, lead, copper, and zinc ores at its facilities. While it does mine non-precious metals, its main focus is on gold and silver. Because of this, it’s no surprise that shares of GPL have increased alongside the precious metals industry.

[Read More] Penny Stocks and the Coinbase IPO: What Cryptocurrency Has to Do With Small-Cap Stocks

On April 13th, Great Panther reported its first-quarter 2021 production results. In the report, GPL showed solid growth in its mining operations. It also engaged in several big advancements which allowed it to mostly avoid pandemic-related losses. With these results, Great Panther is on track to meet its proposed guidance for 2021.

While production numbers were low in the first quarter of the year, this was all a part of its roadmap. The company states that “The first quarter was planned to be a low production quarter due to heavy stripping. Production is expected to ramp up quarter-over-quarter for the remainder of the year as mining progresses into sectors with lower strip ratios.”

When this was announced, shares of GPL spiked higher during intraday trading. While it did pull back slightly, this seems to be the result of a natural correction. On April 15th, GPL began to see positive momentum once again. During the trading day, GPL shot up by almost 3% to $0.79 per share. With this exciting news in mind, is GPL stock worth watching?

Penny_Stocks_to_Watch_Great_Panther_Mining_Limited_GPL_Stock_ChartCastor Maritime Inc.

Castor Maritime is a shipping company that works with dry bulk cargoes. This includes everything from flour to building materials and more. During the pandemic, companies like Castor have increased greatly in popularity. However, its recent momentum can be attributed to three factors in particular.

First, on April 5th, it announced the pricing of a $125 million registered direct offering. It will be issuing 192.3 million common shares at $0.65 per share. This is always exciting as it helps to bring in new capital for potential business expansion. Additionally, it can help to make investors feel more comfortable with a company’s balance sheet.

Second, on April 9th, Castor announced that it had acquired a 2011 Japanese-built Panamax dry bulk carrier vessel from a third party for $18.48 million. This is big news for the company as it shows it is expanding its fleet. The company is currently focused on bringing in as much business as possible. This is where the ship acquisition comes in.

Lastly, on April 14th, Castor announced deliveries of the M/V Magic Twilight and M/V Magic Thunder. These are two Korean and Japanese-built dry bulk carriers. Again, this will help to boost its fleet count as well as its carrying capacity. While these updates may seem small, they provide solid insight into what Castor is doing right now. Considering this, is CTRM worth watching?

Penny Stocks to Watch Castor Maritime (CTRM Stock Chart)

[Read More] 4 Penny Stocks On Robinhood To Buy Under $1; 50%-270% Price Targets

If you are looking to invest in penny stocks, there are a few options. While you can buy stocks under $5 through many brokers, traders have recently turned to newer platforms. This includes those like Robinhood and WeBull. In the past, buying and selling stocks was a rather tedious process for non-institutional investors. However, the rise of easy-to-use brokers and social platforms like Reddit has increased the number of retail traders out there.

Source: http://feedproxy.google.com/~r/entrepreneur/latest/~3/oEVfyBd5nrE/369549

penny-stocks-to-buy-for-under-$1-on-robinhood

Continue Reading

Crunchbase

C2i Genomics Secures $100M Note To Detect Tiny Traces of Cancer

C2i’s cancer diagnostics service uses AI pattern recognition and whole-genome analysis to spot trace amounts of cancer much quicker.

Published

on

Cancer intelligence company C2i Genomics is developing a platform that can perform a whole-genome sequencing using only 2 milliliters of blood, as well as provide 100x more sensitive cancer detection than competitors, according to company co-founder and CEO Asaf Zviran.

Subscribe to the Crunchbase Daily

On Thursday, the New York-based company announced a $100 million convertible note to accelerate the clinical development and commercialization of its platform. Behind the note is a group of investors including Casdin Capital, NFX, Duquesne Family Office, Section 32, iGlobe Partners and Driehaus Capital. Additional participation came from The Mark Foundation for Cancer Research, Silver Lake, Alexandria Real Estate, Gordon Asset Management and LionBird.

How it works

C2i’s cancer diagnostics service uses artificial intelligence pattern recognition and the whole-genome analysis to spot trace amounts of cancer much quicker, in about a week, to inform better treatment decisions and ultimately save lives. The company aims to help patients avoid unnecessary overtreatment with toxic chemotherapy or radiation, as well as to prevent them from going without treatment while cancer quietly grows and metastasizes.

That’s important to Zviran who is a cancer survivor and has supported family members through their cancer diagnoses and treatments. Previously in the defense sector in Israel, he was diagnosed with cancer at 28 years old.

“After I went through surgery, I spent most of my time talking to oncologists to understand how treatment optimization works and how they had a lack of tools to do that in an effective manner,” Zvrian said. “I went back to school and got my Ph.D. in genomics and focused on how to use blood samples to monitor cancer.”

He developed the technology for the origins of C2i Genomics for three years before getting to the point where he felt he could create the company in late 2019.

Investment

With the note, the company has raised a total of $113.2 million in venture-backed capital, including a $12 million Series A round in 2020, according to Crunchbase data.

“It was a quick fundraising that started in January,” Zvrian said. “We initially looked at equity, but decided with the rapid growth of the company, the market, and the commercialization potential, we thought it would be better to do a note to give us flexibility going into the next fundraising event. We received strong interest, but it was important to choose the right partners.”

James Currier, general partner at NFX, feels the same way. He became acquainted with C2i Genomics through his colleague, NFX’s Head of Bio Omri Amirav-Drory. The seed investor came in for C2i’s seed in August 2019 and stayed for its Series A and the note.

What C2i has been able to do is establish clinical trials with six institutions around the world and prove its technology with data, Currier said.

“The technology, AI and software they built is more sensitive and accurate than others on the market,” he added. “It is time to ramp up the testing and approvals. They have six trials right now, but there are other institutions wanting to be seven, eight and nine. To staff up those CLIA labs, they’ll need cash.”

Growth

Meanwhile, with the note closed, Zvrian intends to move quickly from technology development and validation to scale-up commercialization. The funds will be used on R&D, adding staff and getting technology into the clinic. The company also aims to launch its diagnostic indication in the U.S. and Europe.

C2i has a CLIA (Clinical Laboratory Improvement Amendments) lab in Massachusetts and an R&D center in Israel. The CLIA lab was the result of C2i’s acquisition of QNA Dx in March, Zvrian said.

“We are working at better detection,” he added. “We have almost 40 employees and plan to double that number by the end of the year. Our solution is still very new on the market, and with improvement in performance we can do clinical applications not done before. With a cloud environment, every clinical lab will be able to use this to do detection and monitoring.”

Illustration: Li-Anne Dias

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

C2i’s cancer diagnostics service uses artificial intelligence pattern recognition and the whole-genome analysis to spot trace amounts of cancer much quicker, in about a week, to inform better treatment decisions and ultimately save lives. The company aims to help patients avoid unnecessary overtreatment with toxic chemotherapy or radiation, as well as to prevent them from going without treatment while cancer quietly grows and metastasizes.

Source: https://news.crunchbase.com/news/c2i-genomics-secures-100m-note-to-detect-tiny-traces-of-cancer/

c2i-genomics-secures-$100m-note-to-detect-tiny-traces-of-cancer

Continue Reading

Blockchain news

Ethereum’s Upside Appears Limitless as ETH Breaches $2,400 For the First Time Ever

On-chain metrics provider Santiment has delved deeper into Ethereum’s uptrend and noted that its rally to $3k and beyond looks set.

Published

on

Ethereum, the second-largest cryptocurrency, has breached the $2,400 mark and is currently hovering around $2,464 at the time of writing, according to CoinMarketCap.

Ethereum’s presence in the crypto space is continuously being felt based on its notable milestones. Santiment has delved deeper into Ethereum’s uptrend and noted that its rally to $3k and beyond looks set. The on-chain metrics provider explained:

Ethereum’s upside appears limitless currently. With diamond-fisted hodlers rejoicing at today’s $2,479 ATH, & early profit takers baffled, we’ve dropped free updates on what on-chain metrics could hint that $ETH is heading straight to $3k and beyond.”

Santiment added:

“Bitcoin and Ethereum being at record-high levels mean more opportunities for whales to make big moves.”

ETH’s bull run has been boosted by booming decentralized finance (DeFi) and non-fungible token (NFT) sectors, as well as the launch of Ethereum 2.0 in December 2020.

ETH 2.0 is seen as a game-changer that seeks to transit the current proof-of-work consensus mechanism to a proof-of-stake framework, which is touted to be more environmentally friendly and cost-effective. Reportedly, the total value locked in Ethereum 2.0 recently surged past $9 billion.

Ethereum’s daily transactions surge past $12 billion

According to crypto data provider Documenting Ethereum:

“In one year, Ethereum has grown from settling ~$373m per day to over $12b per day.”

This can be attributed to the fact that the number of active ETH addresses has hit a 3-year high of 34,736, as alluded to by digital asset firm Glassnode.

As Ethereum Futures total open interest hit an ATH of $8 billion, time will tell whether ETH will continue with its record-breaking moves in 2021.

Image

Market analyst Michael van de Poppe believes that it is only a matter of time until Ethereum scales to a new higher high of above $4,000 as its market capitalization of $286.6 billion is a stone’s throw away from that of PayPal’s at $312.95 billion.

Image source: Shutterstock

Santiment added:

Source: https://blockchain.news/news/ethereum-upside-appears-limitless-eth-breaches-2-400-first-time-ever

ethereum’s-upside-appears-limitless-as-eth-breaches-$2,400-for-the-first-time-ever

Continue Reading

Title

Entrepreneur2 hours ago

Penny Stocks To Buy For Under $1 On Robinhood

Are Penny Stocks Under $1 on Robinhood Worth It?

Crunchbase16 hours ago

C2i Genomics Secures $100M Note To Detect Tiny Traces of Cancer

C2i’s cancer diagnostics service uses AI pattern recognition and whole-genome analysis to spot trace amounts of cancer much quicker.

Blockchain news18 hours ago

Ethereum’s Upside Appears Limitless as ETH Breaches $2,400 For the First Time Ever

On-chain metrics provider Santiment has delved deeper into Ethereum’s uptrend and noted that its rally to $3k and beyond looks...

CNBC1 day ago

JPMorgan Chase beats profit estimates on strong trading, $5.2 billion release of loan-loss reserves

JPMorgan posted first-quarter profit of $4.50 a share, much higher than the $3.10 per share expected by analysts surveyed by...

CNBC2 days ago

Coinbase drops below debut price

Coinbase held its direct listing on the Nasdaq on Wednesday, luring public market investors who've been waiting to get into...

Ventureburn2 days ago

Joburg healthtech startup secures undisclosed seven-figure funding –

Quro Medical has secured an undisclosed seven-figure USD amount of funding in a seed round led by Enza Capital and...

ZDNET2 days ago

Is there a market for an Apple TV/HomePod Frankenstein?

Rumors are circulating that Apple is planning to take two devices that aren't selling all that well, and smash them...

Reuters2 days ago

Biden set to withdraw U.S. troops from Afghanistan by Sept. 11

President Joe Biden plans to withdraw the remaining 2,500 U.S. troops from Afghanistan by Sept. 11, 2021, 20 years to...

Business insider2 days ago

Annual Report and Sustainability Report 2021: New Wave Group AB

KUNGÄLV, Sweden, April 14, 2021 /PRNewswire/ -- New Wave Group AB today published the Annual Report and Sustainability Report for...

CNBC3 days ago

States rush to replace J&J vaccine appointments after FDA recommends pause

The FDA and CDC recommended a pause in the use of J&J's vaccine after six women developed a rare blood...

Review

    Select language

    Trending