Weekly top-tier VC June 6
1 Turkish Grocery Express Raises $550 mn 2 Homemade Food Marketplace Raises $20 mn 3 Revenue Intelligence Platform Raises $250 mn and 7 others
①Gong / Platform for remote sales teams B2B software
$250 million Series E
Highlights: The pandemic is driving up valuations on enterprise remote tools like Gong. Last week, Sequoia-backed Tessian, a security management company for remote teams, raised 6.5 billion yen, and this week Outreach, a sales engagement platform, raised 20 billion yen.
②Plum / Provides health insurance for employees in India B2B Insurance
$15.6 million Series A
Highlights: India has one of the lowest health insurance penetration rates in the world, but the group health insurance market is expected to grow to $13 bn by 2025.
③Getir / Grocery Delivery Service B2C Platform in Turkey
$555 million Series C
Provides a service that delivers 1,500 different daily necessities within 10 minutes. After gaining popularity in the Turkish market, the company is aiming to expand into Europe by entering London. Raised $300 million in March this year, and raised again in 3 months.
Highlights: The pandemic has led to a sharp increase in the number of people using grocery e-commerce.
④Stemirna / RNA technology drug development B2B pharmaceutical
$200 million Series B
Over a dozen mRNA projects, focusing on the areas of cancer vaccines, infectious diseases, protein deficiencies, and genetic diseases. Two plants are under construction for the production of corona vaccines, each capable of 100 million doses per year, with construction expected to be completed by August.
Highlights: To date, Chinese biotechs dMed (clinical CRO), D3Bio (oncology and immunology), RecBio (genetically engineered vaccines), and Transcenta (therapeutic antibodies) have raised over $100 mn, but Stemirna is the first to raise for coronary vaccine production.
⑤Outreach / Sales Engagement Platform B2B Software
$200 million Series G
Highlights: The pandemic is driving up valuations on enterprise remote tools like Outreach. This week, Gong, a revenue intelligence platform, raised $550 mn.
⑥LambdaTest / Develops cloud-based testing platform B2B Software
$16 million Series B
Provides an infrastructure that allows developers to seamlessly test websites and apps across all browsers and OS environments. more than 500,000 developers in 132 countries have participated, and more than 20 million tests have been conducted. The company had raised $6 million last December.
Highlights: Until now, the cost of building a testing environment has been very high for engineers, but LambdaTest is trying to solve this problem.
⑦Zenyum / Singapore's orthodontic platform B2C Healthcare
$16 million Series B
Highlights: Until now, orthodontics has required a $7,000 cost and hospital visit time. Startups such as Zenyum, Uniform Teeth, Candid, SmileDirectClub, and Orthly are trying to solve that problem.
①Belvo / Open Finance API B2B Finance in Mexico
$43 million Series A
Highlights: In the market, Latin America, some people do not have bank accounts and need to get data from various sources, such as Uber and tax authorities. With its barriers to entry, Belvo is emerging as a winner in Latin America.
①Shef / homemade food marketplace B2C marketplace
$20 million Series A
Highlights: Until now, restrictions on the sale of home-cooked food have hindered growth. Last year, however, 29 states in the U.S. introduced home cooking legislation, paving the way for market expansion.
②Jeeves / ERP system for SMEs in Sweden B2B software
$131 million Series unknown
Used by more than 4,000 companies in over 40 countries worldwide. All-in-one expense management platform. Allows access to corporate card credit and cross-border payments in minutes. Allows settlement in multiple currencies, reducing FX fees.
Highlights: Previous fintechs have partnered with country-specific providers, making cross-border payments time-consuming and expensive; Jeeves solves this problem by partnering directly with banks in each country and building the infrastructure.