Friday, 29 September 2023

And the largest funding deals this month were …

Plus, is Seattle's startup star fading?

September 29, 2023

Hi, Agen. It may be pumpkin spice season in the U.S., but September didn’t cool down when it came to very large startup funding deals. While the largest deal of all — $2.1 billion — went to a French manufacturer of low-carbon batteries, in the U.S. the largest fundings went to AI, autonomous vehicle and data startups. Plus, we look at Seattle’s funding scene and another huge round for an AI platform, this time at a $2.5 billion valuation.

💰 September’s top 10 deals: AI, autonomous cars and batteries

To make the cut for our September list of the largest funding deals to U.S. startups, your company had to raise at least $210 million.

☔️ Stats show Seattle’s startup mojo is waning

Seattle startup funding has fallen more than the already precipitous decline in U.S. venture funding we’ve seen this year. This begs the question: Is the Seattle-area decline just a reflection of broader trends, or does it point to specific weaknesses in the local startup ecosystem?

Related Crunchbase Pro lists:
Seattle Startup Funding
Washington State Startup Funding
Washington State VC-Backed IPOs Of The Past Five Years

🤑 AlphaSense grabs $150M in busy day for AI funding

New York-based market intelligence platform AlphaSense raised $150 million in a Series E led by Bond Capital that raised its valuation a whopping 30% from its Series D less than six months ago. AlphaSense’s funding announcement came the same day that China-based AI chip startup Enflame said it raised nearly $274 million.

🤔 5 interesting deals in September: The Tesla for boats, and more

Electric boats, AI reminding us to call our mom, and learning how to play pickleball, et al. are just a few of the more interesting under-the-radar funding rounds you may have missed in September.

🚩 How to spot red flags in your business

Startup life can be a thrilling journey with huge potential for big rewards, but it’s equally fraught with risks. While you might be tempted to ride by the seat of your pants, consider taking a more quantitative approach to evaluating your company’s health, says startup adviser Itay Sagie. He highlights four metrics that can reveal red flags in your business.

➡️ The Billion-Dollar Exits Board: Track IPOs, SPACs and M&A

Check out The Crunchbase Billion-Dollar Exits Board, a curated list of U.S. startup exits — IPOs, SPACs, mergers and acquisitions, and other deals — valued at $1 billion or more, powered by Crunchbase’s comprehensive data.

Recent Investments

Trafigura

$500M / Post-IPO Debt

Trafigura is a commodity trading company that trades and distributes commodities such as metals, minerals, and agricultural products.

Categories:

Industrial • Mineral • Oil and Gas • Shipping • Supply Chain Management

Founders:

Claude Dauphin

Investors:

Saudi EXIM (Lead)

Avalyn Pharma

$175M / Series C

Avalyn Pharma is a biopharma company developing therapies for the treatment of idiopathic pulmonary fibrosis and other respiratory diseases.

Categories:

Biopharma • Biotechnology • Medical • Pharmaceutical

Founders:

Mark W. Surber

Investors:

Eventide (Lead), Perceptive Advisors (Lead), SR One (Lead) + 11 more

Evozyne

$81M / Series B

Evozyne is a generative AI company that focuses on therapeutic discovery and drug development.

Categories:

Artificial Intelligence • Biotechnology • Life Science • Medical • Therapeutics

Founders:

Andrew Ferguson, Jeff Aronin, Rama Ranganathan

Investors:

Fidelity Management and Research Company (Lead), OrbiMed (Lead), NVentures + 2 more

More Fundings

Company Amount / Round Lead Investor
Doceree $35M / Series B Creaegis
Slope $30M / Series B Union Square Ventures
Valeo Pharma $5.0M / Post-IPO Debt Accord Financial, Inc. (U.S.)
All Recent Funding Activity

Recent Acquisitions

Kefla

Pending acquisition by Lifco for Unknown

More Acquisitions

Company Acquired By Amount
AirX Climate Solutions Gryphon Investors Unknown
All Recent Acquisition Activity

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