The Consumer VC Roundup #71
Hey everyone,
Hope you had a great Memorial Day weekend – if you’re in the U.S. We have some more morning gatherings on the horizon…and quite a few fundraising and distribution expansion updates from brands. First, here’s a word from our partner, Propeller Industries –
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On to the latest consumer fundraising update –
💻Consumer Software💻
💰 xAI, Elon Musk’s AI startup, has raised $6 billion in a new Series B funding round led by Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity, Prince Alwaleed Bin Talal and Kingdom Holding. Tech Crunch
🛍️Consumer Brands🛍️
🦠 Testmate Health, the Swiss-based medtech start-up has secured US$6m in funding to develop an at-home test for sexually transmitted infections (STI). Femtech
🛒eCommerce & Retail Tech🛒
📦 Remark, is pairing shoppers with high-quality product experts via an asynchronous live chat with one of 50,000 human experts: artists, musicians, stylists, golfers, ski instructors, who can discuss items just like a retail staffer would do. Tech Crunch
🛒 Flipkart, the Walmart-owned Indian e-commerce startup, raised $350 million in funding led by Google as it will provide Flipkart with cloud offerings as part of the deal. Tech Crunch
💸M&A💸
🍹 Cocktail Courier, the cocktail kit delivery service, has acquired Thirstie, the alcohol e-commerce provider which helps alcohol brands create DTC channels through design and distribution compliance, for an undisclosed mixture of stock and cash. Modern Retail
🎾 Nidecker Group has acquired boardsports brands Etnies, éS, Emerica and ThirtyTwo. Fashion Network
🥯 Encore Consumer Capital has acquired Chalet Desserts, which specializes in producing frozen bakery desserts and baked food inclusions. These products are sold in supermarket in-store bakeries, convenience stores, as well as in foodservice and ingredient markets. Food Business News
🪇Collabs🪇
🥤 Icee, the beverage company, is introducing a Froot Loops flavor to its iconic frozen carbonated beverage lineup as part of its collaboration with WK Kellogg, the food manufacturing giant. Food Dive
💄 Tower 28, the beauty brand, and Ouai, the hair, body & lifestyle brand, have launched a limited-edition lip gloss in Ouai's St. Barts scent. GCI
↪️Rebrands↩️
🥼 WonderWink, the health care apparel brand, has rebranded as Wink to reposition itself as a health care apparel company focused on style and fit. Modern Retail
🚀Product Launches🚀
🎧 Iyo, the company spun out from Alphabet X's moonshot factory specializing in advanced audio technology, will release the Iyo One which is a pair of Bluetooth earbuds designed to integrate sophisticated large language model (LLM)-based AI capabilities into a familiar and successful product category this winter, starting at $599. Tech Crunch
📱 Maven, the new social media platform co-founded by former OpenAI researcher Kenneth Stanley, is designed to foster serendipity and interesting interactions rather than focusing on popularity and objectives. The platform uses an open-ended AI algorithm to show users content based on their interests without likes, upvotes, retweets, or follows. Tech Crunch
🔗 Linktree, the link-in-bio startup, has surpassed 50 million users representing a significant uptick from the 2.7 million users the company had in 2019. Tech Crunch
☕ Throne sport coffee, the better-for-you, functional, ready-to-drink iced coffee created by beverage industry veteran, Michael Fedele, in partnership with Patrick Mahomes, who is the lead investor in the brand, has launched officially nationwide. Business Wire
🧴 Youzu, skincare brand that is also meant to be the start of a community that promotes self-love and connection created by CEO and founder Tina Dao, launched with two inaugural product: Daily Refresh Spray and Daily Refresh Serum. Both skincare products feature hypochlorous acid. Beauty Packaging
🍫 Ferrero, the Italian multinational confectionery company, has revealed that it will launch plant-based Nutella in Italy this autumn. The announcement comes as Ferrero celebrates the 60th year of the iconic chocolate hazelnut spread. Vegconomist
🏪Distribution Expansion🏪
💅🏻 Nailboo, the salon-grade nail products company, is expanding into 2,200 Walmart stores nationwide. GCI
🧼 Biom, a new refillable cleaning wipes brand, has landed in Target as part of the retailer’s push to bring in more sustainable brands that are seeing growth among U.S. shoppers. Modern Retail
🍵 Loverboy, known for its premium sparkling hard teas, spritzes, and canned cocktails, is expanding its reach this summer as it’s now available nationwide at Walmart and a prominent display in Total Wine & More stores, the largest alcohol retailer in the country. Brewbound
🫧 Kiehl's, the body care and hair care brand, has joined Amazon Premium Beauty, leveraging the platform's expansive customer base to introduce their inclusive product range to a broader audience and ensure easy access to their products. The lineup on Amazon includes new launches like Better Screen UV Serum SPF 50, Truly Targeted Acne Clearing Solution, and Clearly Corrective Triple Acid Peel. Fashion Network
🛀 Shikohin, a Japanese-inspired slow beauty and wellness brand offering skincare and bath products infused with mushrooms, cold-pressed herbs, and other natural ingredients, is entering Neiman Marcus. Beauty Independent
🌷 Flower Knows, the Gen Z-favorite popular Chinese makeup brand with art- and fairytale-inspired products, has entered retail in the United States via a launch at Urban Outfitters.
🪞 Lawless Beauty, the makeup brand that uses clean actives and a high concentration of clinical-grade skincare ingredients, has expanded with a new blush collection: Pinch My Cheeks Soft-Blur Cream Blush. Beauty Packaging
🔻Bankruptcies🔻
🛫 Brazilian airline Gol, one of the country's largest carriers, filed for U.S. bankruptcy protection earlier this year due to heavy debt and delayed Boeing deliveries. The company expects to exit Chapter 11 with a $1.5 billion capital injection from new shares and $2 billion in debt refinancing, according to a securities filing. Reuters