The Consumer VC Roundup #62
Hey friends,
If you were at Expo West last week – what a show! I had an amazing time trying new products, catching up with friends and meeting people for the first time that I follow on Twitter and LinkedIn. It was bliss. If you were there, I hope it also was an incredible experience for you as well (and I hope you dropped by on 3/14 for our “Rise, Rinse, and Meet CPG” morning event) Thank you to all our amazing partners who helped produce that event Manufactured, Cult Capital, Bridge Finance Group, ForceBrands, J.P. Morgan, smartrr, ShipBob, dash.fi, DayZero, WeFunder, Dresner Partners and BrandRock. It was a great turnout…even if we only took up a fraction of the space 😂 I had no idea the space was going to be that big – I feel like it could of held 5,000 people not 500 people. We might be bringing that format to other conferences – stay tuned.
I’m currently at Shoptalk in Vegas. If you’re around, would love to try to meet up today. Now. onto our consumer fundraising and VC update –
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💻Consumer Software💻
🩺 HiLabs, a provider of AI-powered solutions to manage dirty data, unlocking its hidden potential for healthcare transformation, announced a $39 million Series B funding round led by Denali Growth Partners and Eight Roads Ventures, with participation from F-Prime Capital to solve critical data issues within healthcare. PR Newswire
🛍️ mmERCH, the blockchain-enabled, AI powered fashion start-up, has announced a $6.4 million seed funding round led by Liberty City Ventures, 6529 Holdings LLC, Christie’s Ventures, and Flamingo DAO. Forbes
🎮 Studio369, a team of industry veterans with over a decade of experience at gaming giants like Activision, Lucasfilm, Midway, and Phosphor, raised $5 million in funding to develop MetalCore, an open world player-versus-player mech combat game that combines the engagement of high-quality traditional gaming with true asset ownership via Web3. The funding was led by Bitkraft Ventures, Delphi Digital, Sanctor Capital, SpartanGroup, and other investors. Venture beat
🛍️Consumer Brands / Inventory Businesses🛍️
🛵 Voi, a Stockholm-based micromobility operator, raised $25M in funding led by VNV Global, Raine Group, Nineyards Equity, Balderton, Creandum, Project A, Stena, Black Ice Capital and others to scale its e-scooter and e-bike fleet. Finsmes
🍼 Amara, an organic baby food and toddler snack brand, just announced an oversubscribed $20 million Series B funding round in a minority financing led by HumanCo Investments, with other backers including Melitas Venture Capital, and Touch Capital to increase distribution and expand the company’s production and product lines. Forbes
🪸 Kuehnle AgroSystems (KAS), a leader in microalgal innovation, has secured a $3 million Series A2 funding round led by S2G Ventures to accelerate the commercialization of their method for producing natural astaxanthin (a a carotenoid known for its antioxidant properties), enhancing sustainable aquaculture and nutraceutical markets. iGrow News
⛺ Murphy’s Naturals, an outdoor lifestyle company focused on creating natural products to enjoy life outside, raised $8M in Series B funding led by Point King Capital with participation from Emil Capital Partners, John Replogle, and others to scale and expand its retail distribution nationwide. Finsmes
🍹 Sanzo, the sparkling water brand, announced that producer/DJ Steve Aoki and actor Simu Liu are joining as investors. Bevnet
🛒eCommerce & Retail Tech🛒
💰 Moroccan FinTech startup tookeez, a platform serves as a digital wallet for loyalty points, has successfully secured $1.5m in funding led by the Azur Innovation Fund (a notable public-private seed capital initiative based in Casablanca, Morocco) to bolster its technical capabilities and expansion efforts. Fintech global
👗 Lily AI, a retail technology platform specializing in AI solutions for retailers and brands, announced the closing of a $20M Series B-Prime financing round led by Conductive Ventures with participation from new investors Counterpart Ventures, Cendana Capital, and Transform Capital, as well as existing investors to expand its social and eCommerce platform integrations. Yahoo finance
🛒Fermat, the startup that allows every retailer to create a unique shopping experience for each customer journey, announced raising $17 million in new funding led by Bain Capital Ventures (BCV) with participation from existing investors Greylock, QED Investors and Courtside Ventures to continue fueling growth for its customers. Business wire
🤖 Big Sur AI, an AI platform for e-commerce, announced a $6.9M seed round led by Lightspeed Venture Partners and included participation from Capital F and several angel investors as they launch an AI Sales Agent which offers enhanced product discovery and assisted shopping experience to online shoppers at merchant websites. Business wire
🛒 ShopMy, a marketing platform for content creators to connect with brands and monetize their content, announced that it raised $18.5 million led by Inspired Capital and other investors to help scale its network of 40,000 creators. Tech crunch
📈 Telegram successfully raised $330 million in investment through bond sales, with demand exceeding expectations as the offering was oversubscribed. These bonds were issued at a price of $91, a significant increase from the previous issue's $78. Tech crunch
🥹Debuts🥹
🚀 Meghan Markle, the Duchess of Sussex, has launched American Riviera Orchard, a new lifestyle brand with dozens of products in the works. The brand’s trademark filing application includes cookbooks, tableware, linens, a range of spreads and preserves including jellies, jams and nut butters, and table place card holders. BOF
🤝Collaborations🤝
🛹 Gap is collaborating with cult London streetwear label Palace to launch a 55-piece collection inspired by ‘90s skateboarding style that includes varsity jackets, windbreakers and co-branded logo hoodies. BOF
🏪Distribution🏪
🏃🏼♀️ Outdoor Voices, the Austin-headquartered activewear retailer, will close all 16 of its stores as they transition to an exclusively online business, employees from the various locations told news outlets including Axios and The New York Times. USA Today