|The Week's 10 Biggest Funding Rounds: Pathalys Pahrama Lands $150M; Impel Drives Away With $104M|
crunchbase8 day(s) ago
Want to keep track of the largest startup funding deals in 2023 with our new curated list of $100 million-plus venture deals to U.S.-based companies? Check out our new Megadeals Tracker here. This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here. Search less. Close more. Grow your revenue with all-in-one prospecting solutions powered by the leader in private-company data. After a strong start to the year, this week slowed down. No round came close to $200 million, and only three rounds hit the $100 million mark. Health care and biotech were big again, as well as a startup that uses AI (it’s everywhere) to help people buy a car. 1. Pathalys Pharma, $150M, biotech: Raleigh, North Carolina-based Pathalys Pharma is the latest health/biotech startup to raise a big round this year. The late-stage biopharma startup raised $150 million through what it called “a combination of secured product financing and equity to support the two phase 3 clinical trials, registration efforts and pre-commercialization activities for upacicalcet” — which is used to treat hyperparathyroidism. Abingworth was the lead investor. Simultaneously, the company and Launch Therapeutics also announced a collaboration to advance phase 3 clinical trials for the drug. Founded in 2012, the company has raised $161 million to date, according to Crunchbase data. 2. Impel, $104M, automotive: AI is everywhere right now, so why not car buying? New York-based digital engagement startup Impel landed $104 million in growth investment led by Silversmith Capital Partners with additional investment from Wavecrest Growth Partners. The startup offers an AI-powered customer engagement platform for the auto industry. Impel claims to have played a role in $2 billion worth of car sales since its inception in 2011. With so much data generated about buying cars — especially with so many buying cars online — Impel is able to use artificial intelligence to target customers with personalized messaging. Founded in 2011, the company has raised $130 million, according to Crunchbase. 3. Mill, $100M, environmental consulting: Mill was founded in 2020 by former smart home darling Nest alums. The San Bruno, California-based startup is on a mission to eliminate all waste, and in an effort to do that are asking people to buy a $33 monthly subscription for a 2-foot tall kitchen bin that “dries, shrinks and de-stinks,” as Bloomberg reports. That same report also revealed Mill has raised multiple funding rounds from investors like Breakthrough Energy Ventures and Energy Impact Partners, and has raised more than $100 million — but would not release an exact dollar figure. 4. SetPoint Medical, $80M, health care: Another health-related company cracks the top 5. Valencia, California-based clinical-stage health care startup SetPoint Medical raised $80 million in a preferred stock financing co-led by new investors Norwest Venture Partners and Viking Global Investors. The company is developing a treatment for chronic, inflammation-mediated autoimmune diseases with a focus on treating rheumatoid arthritis. Founded in 2006, the company has raised $344 million, per Crunchbase. 5. Vannevar Labs, $75M, national security: Defense startups seem to be having a moment. Drone companies that help with national security have raised money recently, and late last yearAnduril locked up a Series E worth nearly $1.5 billion that values the company at $8.5 billion. That nearly doubles the company’s previous valuation in June 2021. Palo Alto, California-based national security tech developer Vannevar Labs is the latest after raising a $75 million Series B led by Felicis 1. Founded in 2019, Vannevar Labs has now raised more than $90 million, per the company. 6. Outrider, $73M, logistics: Golden, Colorado-based Outrider, a software developer that allows for autonomous yard operations for logistics hubs, closed a $73 million Series C financing led by FM Capital. Founded in 2017, Outrider says it has raised $191 million to date. 7. Cloudian, $60M, cloud storage: San Mateo, California-based cloud storage startup Cloudian closed a $60 million new funding round from several investors, including the likes of Intel Capital and Silicon Valley Bank. Founded in 2011, Cloudian has now raised $233 million, according to the company. 8. ADARx Pharmaceuticals, $46M, biotech: San Diego-based ADARx Pharmaceuticals, a clinical stage biotech startup developing RNA-targeting therapeutics, raised a $46 million Series B-1 led by Ascenta Capital. Founded in 2019, the company has raised $132 million to date, according to Crunchbase. 9. MacroFab, $42M, manufacturing: Houston-based cloud manufacturing platform developer MacroFab raised $42 million led by Foundry. Founded in 2013, MacroFab has raised a total of $82 million, per the company. 10. Sublime Systems, $40M, energy: Somerville, Massachusetts-based Sublime Systems, a developer of decarbonized cement, closed a $40 million Series A led by Lowercarbon Capital. It’s the company’s first funding, per Crunchbase. Big global deals Despite some big rounds from U.S.-based startups this week, the three largest all came from abroad. China-based GenScript ProBio, a biopharmaceutical R&D and production platform, raised a $220 million Series C. London-based electric vehicle manufacturer One Moto closed a venture round worth approximately $152 million. Methodology We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of Jan. 14 to 20. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week. Felicis Ventures is an investor in Crunchbase. 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