Connect with us

Crunchbase

The Briefing: Graphcore Raises $222M, DXY Closes On $500M, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Published

on

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase DailyGraphcore raises $222M for AI microprocessors

Graphcore, a U.K.-based startup that develops a microprocessor designed specifically for artificial intelligence and machine-learning applications, has raised $222 million in a Series E funding round.

Ontario Teachers’ Pension Plan led the financing, which reportedly sets a post-money valuation of $2.77 billion for the Bristol-based company.

The latest round brings total funding to date for Graphcore, which was founded in 2016, to over $780 million.

Funding rounds

  • China’s DXY lands $500M for online health: DXY, an online health care community for Chinese consumers and health care organizations, raised $500 million in a Series E round led by private equity firm Trustbridge Partners and joined by existing backer Tencent.

Other news

  • Coinbase to suspend XRP trading: Coinbase said it will suspend trading of the cryptocurrency XRP, following a lawsuit from the U.S. Securities and Exchange Commission last week against Ripple, the company that developed it.

Illustration: Dom Guzman

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

Source: https://news.crunchbase.com/news/briefing-12-29-20/

the-briefing:-graphcore-raises-$222m,-dxy-closes-on-$500m,-and-more

Crunchbase

The Briefing: Wealthsimple Raises $610M, Path Robotics Scores $56M, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Published

on

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Wealthsimple pulls in $610M at $4B valuation

Toronto-based Wealthsimple, a provider of tools for managing one’s money and investment portfolio, reportedly raised $610 million in fresh funding at a valuation of around $4 billion.

Meritech and Greylock led the financing, which roughly doubled the company’s valuation since its last round in October. Previously, Wealthsimple had raised around $310 million in known funding, per Crunchbase data.

— Joanna Glasner

Funding rounds

Path Robotics lands $56M: Columbus, Ohio-based Path Robotics, a developer of autonomous welding robots, announced it has raised $56 million in a Series B funding round led by Addition. The company says its AI-enabled robotics product will self-adjust for each part it produces, filling demand in a field facing chronic labor shortages.

— Joanna Glasner

Health care

Bone Health Technologies inks $2.5M: San Francisco-based Bone Health Technologies closed on $2.5 million in an oversubscribed funding round led by Good Growth Capital. Bone Health is developing a new standard of care for treating both osteoporosis and osteopenia, the precursor to osteoporosis. The company was recently granted Breakthrough Device Designation by the U.S. Food and Drug Administration for OsteoBoost, its vibration belt designed for the prevention of osteoporosis. Studies show that one 30-minute treatment with OsteoBoost reduced bone loss activity in all study participants, according to the company.

— Christine Hall

M&A

Dell to sell Boomi for $4B: Dell struck a deal to sell its Boomi cloud computing business to private equity firms Francisco Partners and TPG in a transaction valued at around $4 billion. Berwyn, Pennsylvania-based Boomi makes software that helps applications communicate with each other.

— Joanna Glasner

Illustration: Dom Guzman

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

Source: https://news.crunchbase.com/news/briefing-5-3-21/

the-briefing:-wealthsimple-raises-$610m,-path-robotics-scores-$56m,-and-more

Continue Reading

Crunchbase

The Briefing: Darktrace Soars In IPO, Mux Picks Up $105M, And More

Crunchbase News’ top picks of the news to stay current in the VC and startup world.

Published

on

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Darktrace shares soar in London IPO

Shares of British cybersecurity company Darktrace surged in first-day trading in London Friday, with the stock up as much as 43 percent in initial trades.

The Cambridge, U.K.-based company priced shares for its offering before trading commenced at a valuation of around $2.4 billion.

Founded in 2013, Darktrace uses AI to detect and respond to threats in companies’ IT systems. Previously, the company raised at least $230.5 million in known funding, per Crunchbase data.

— Joanna Glasner

Funding rounds

Mux raises $105M for video streaming: Video platform Mux has raised a $105 million Series D, bringing its valuation above the $1 billion mark. Mux’s technology helps developers build live and and on-demand video streams, something that became more popular during the COVID-19 pandemic with many people staying home. The round, which was led by Coatue, brings Mux’s total funding to $175 million.

–Sophia Kunthara

PortalOne picks up $15M for hybrid gaming: PortalOne, a startup developing what it describes as “hybrid games,” combining gaming and TV, raised $15 million in a seed round backed by a long list of investors, including Founders Fund, Atari, Twitch co-founder Kevin Lin, and Coatue Mangement. Founded in 2018, the company, which operates offices in Oslo, is looking to popularize a new category of entertainment that mixes games with live shows that are embedded directly inside the games.

OnLume Surgical raises $7M Series A: Madison, Wisconsin-based OnLume Surgical, a medical device company developing novel imaging systems for use during surgery, announced the completion of its Series A funding to assist its plans for a commercial launch.

— Joanna Glasner

Illustration: Dom Guzman

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

Source: https://news.crunchbase.com/news/briefing-4-30-21/

the-briefing:-darktrace-soars-in-ipo,-mux-picks-up-$105m,-and-more

Continue Reading

Crunchbase

Privia Health Shares Pop On First Day Of Trading

CEO Shawn Morris said physician well-being is key to shifting the health care industry to value-based care.

Published

on

Privia Health Group, which provides technology and services to physician practices, began trading Thursday on the Nasdaq and saw its share price jump in early trading — and stay there.

Shares closed at $34.75 per share, up 51 percent from its opening share price of $23, with just over 10 million shares traded, according to Yahoo. The Arlington, Virginia-based physician enablement company had priced 22.4 million shares at $23, the top of its set range, with the aim of raising approximately $515.8 million. With the new price, it is now more like $778.4 million.

Subscribe to the Crunchbase Daily

Privia currently works with 2,700 providers over six states and Washington, D.C., encompassing 3 million patients, approximately 700,000 who are in value-based care arrangements, CEO Shawn Morris told Crunchbase News.

Physicians, whose mission is to treat patients, face a number of challenges, including running their practices, meeting consumers where they are, and providing better tools, as well as shifting to value-based arrangements that encourage pay tied to health outcomes versus frequency, Morris said.

“We have a simple strategy to go into a market and build up large medical groups, aggregate physicians and then provide them with tools, education and workflow to help them move to value-based care over time,” he said. “We are working with physicians that want to work with something larger, but still be autonomous, as well as who want to lower the cost of health care.

“We believe to accomplish lower health care costs and higher quality of care, you have to focus on the doctor because the doctor-patient relationship is critical as is the provider’s emotional and physical well-being, especially in today’s environment,” he added.

The physician enablement market is estimated to be a $1.9 trillion market currently and is projected to be $3.5 trillion by 2030, with an ability to serve more than 1 million providers in the U.S., according to Nephron Research.

“There is a lot of whitespace out there, and that is why we are excited about it,” Morris said. “This market is in its infancy, and we have a lot of green grass to run in.”

For the year ended Dec. 31, 2020, Privia brought in approximately $817 million in revenue, $31.2 million in net income and $1.3 billion total practice collections, according to the company’s S-1 filing.

The company raised $417.5 million in total known venture-backed and private equity funding since being founded in 2007, according to Crunchbase data. Backers include Goldman Sachs, Health Enterprise Partners and Oxeon Partners.

Among the biggest winners from the IPO are Brighton Health Group, Privia’s parent company, and Morris, according to the company’s S-1 filing.

Here’s a look at how their stakes shake out amid the IPO, based on the first day opening price:

Brighton Health Group
Number of Shares Owned After Offering: 79,178,470
Value of Stake At Closing Price: $2.75 billion

Shawn Morris
Number of Shares Owned After Offering: 4,129,931
Value of Stake At Closing Price: $143.5 million

Privia Health’s shares trade on the Nasdaq Global Select Market under the ticker symbol PRVA.

Illustration: Dom Guzman

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

Privia currently works with 2,700 providers over six states and Washington, D.C., encompassing 3 million patients, approximately 700,000 who are in value-based care arrangements, CEO Shawn Morris told Crunchbase News.

Source: https://news.crunchbase.com/news/privia-health-begins-trading/

privia-health-shares-pop-on-first-day-of-trading

Continue Reading

Title

Ventureburn12 hours ago

West African tech startup launches app in Gabon 

West African tech startup Gozem has announced the launch of 'Super App' taxi booking service in Libreville enabling consumers to travel...

Business insider14 hours ago

Spark Networks Announces Conference Call to Discuss First Quarter 2021 Results

BERLIN, May 5, 2021 /PRNewswire/ -- Spark Networks SE (NYSE: LOV), one of the world's leading online dating companies, announced today that...

Coinpedia17 hours ago

Dogecoin Price Close 70 Cents, Will the Whales Allow Rally To Hit $1?

Dogecoin price rallies more than 50% for the second consecutive day, may smash $1. The doge price may flip BNB...

Bioengineer20 hours ago

Benefits of AstraZeneca COVID-19 vaccine outweigh its risks

Pausing AstraZeneca vaccinations because of suspected links to deadly blood clots could allow COVID-19 to continue to spread, cause more

Reuters22 hours ago

U.S. Commerce Dept. pressing Taiwan to supply more chips to U.S. automakers

The U.S. Commerce Department is pressing Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) and other Taiwanese firms to prioritize the needs...

Blockchain news1 day ago

Total Value Locked in Maker Reaches a Record High as Maker Foundation Returns Dev Fund to DAO

Maker's total value locked (TVL) surged to $12.02B, hitting a record high amid Maker Foundation's announcement that it would refund...

Techcrunch2 days ago

Indian online teaching platform Teachmint raises $16.5 million – TechCrunch

An Indian startup that began its life after the global pandemic broke last year said on Tuesday it has concluded...

ZDNET2 days ago

Adobe Flash: Microsoft lays out plans to remove it from Windows 10 PCs for good

Microsoft's July Patch Tuesday security update will include the Flash removal update for all versions of Windows 10.

CNBC2 days ago

Berkshire Hathaway’s annual meeting is here: What to expect from Warren Buffett and Charlie Munger

The 90-year-old Buffett is taking the "Woodstock for Capitalists" to Los Angeles, marking the first time the annual meeting will...

CNBC2 days ago

Why investors should ignore the old Wall Street adage ‘Sell in May’

The "sell in May, and go away" strategy isn't getting much love on Wall Street this year.

Review

    Select language

    Trending