Pathless Pharma land, $150 million; Impel is walking away with $104 million

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This is a weekly feature that kicks off the top 10 funding rounds announced per week in the US. Check out last week’s biggest funding rounds here.

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After a strong start to the year, this week has slowed down. No round has come close to $200 million, and only three have reached $100 million. Healthcare and biotech were big again, as well as a startup using artificial intelligence (it’s ubiquitous) to help people buy a car.

1. Pathalys Pharma, $150 million, biotechnology: Raleigh-based North Carolina-based Pathalys Pharma is the latest health/biotech startup to make a big run this year. The biopharmaceutical startup recently raised $150 million through what it calls “a combination of secured product funding and equity to support Phase 3 clinical trials, registration efforts, and pre-commercialization activities for upacicalcet” — which is used to treat hyperparathyroidism. Abingworth was the main investor. At the same time, the company and Launch Therapeutics also announced a collaboration to develop Phase 3 clinical trials of the drug. According to the company, which was founded in 2021, it has raised $150 million so far.

2. Impel, $104 million, cars: Artificial intelligence is everywhere now, so why not buy the car? New York-based digital sharing startup Impel has raised $104 million in a growth investment led by Silversmith Capital Partners with additional investment from Wavecrest Growth Partners. The startup offers an AI-powered customer engagement platform to the automotive industry. Impel claims to have played a role in $2 billion in auto sales since its inception in 2011. With so much data generated around car buying—especially with so many cars being bought online—Impel is able to use artificial intelligence to target customers through messaging. Personal . Founded in 2011, the company has raised $130 million, according to Crunchbase.

3. Mill, $100 million, environmental consulting: Mill was founded in 2020 by our experts from the former darling Nest in the smart home. The San Bruno, California-based startup is on a mission to eliminate all waste, and in an effort to do so, it’s asking people to buy a $33 monthly subscription for a two-foot kitchen container that “dries, shrinks, and deodorizes,” as reported by Bloomberg. The same report also revealed that Mill has raised multiple funding rounds from investors like Breakthrough Energy Ventures and Energy Impact Partners, raising more than $100 million — but it wouldn’t release an exact dollar number.

4. SetPoint Medical, $80 million Another health-related company rounded out the top five, with Valencia, Calif.-based clinical-stage healthcare startup SetPoint Medical raising $80 million in preferred equity financing headed by new investors Norwest Venture Partners and Viking Global Investors. The company is developing a treatment for chronic inflammatory autoimmune diseases with a focus on treating rheumatoid arthritis. Founded in 2006, the company has raised $344 million per Crunchbase.

5. Vannevar Labs, $75 million, National Security: Defense startups seem to be having a moment. Drone companies that help with national security raised money recently, and late last year Anduril booked a Series E worth of roughly $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 to raise a $75 million Series B led by Felicis 1. Founded in 2019, Vannevar Labs has now raised more than $90 million each. company.

6. Outrider, $73 million. Logistics: Colorado-based Outrider Golden, a software developer that enables independent yard operations for logistics centers, has closed a $73 million Series C funding led by FM Capital. Outrider, which was founded in 2017, says it has raised $191 million to date.

7. Cloudian, $60 million, cloud storage: San Mateo, California-based cloud storage startup Cloudian has closed a new $60 million funding round from several investors, including companies like Intel Capital and Silicon Valley Bank. Founded in 2011, Cloudian has now raised $233 million, according to the company.

8. Adrak Pharmaceutical Industries$46 million, biotechnology: San Diego-based ADARx Pharmaceuticals, a clinical-stage biotech startup developing RNA-targeted therapies, has raised $46 million in B-series led by Accenta Capital. Founded in 2019, the company has raised $132 million to date, according to Crunchbase.

9. MacroFab, $42 million, Manufacturing: Houston-based cloud manufacturing platform developer MacroFab has raised $42 million led by Foundry. Founded in 2013, MacroFab has raised a total of $82 million per company.

10. Sublime Systems, $40 million, Energy: Sublime Systems, a Somerville, Massachusetts-based developer of decarbonized cement, has closed a $40 million Series A led by Lowercarbon Capital. It’s the company’s first funding, per Crunchbase.

Great global deals

Despite some big rounds from US-based startups this week, the three biggest rounds have all come from abroad.

  • India-based mobile payment app PhonePe has raised a $350 million investment round.
  • China-based GenScript ProBio, a biopharmaceutical production and research platform, has raised $220 million Series C.
  • London-based electric vehicle maker One Moto has closed a project round worth approximately $152 million.

methodology

We’ve tracked the biggest announced rides in a Crunchbase database collected by US companies for the seven days from January 14-20. Although most of the tours advertised are represented in the database, there may be a slight time delay as some tours are reported as late in the week.

Illustration: Dom Guzman

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