Air taxis, AR, and getting out of the Bay Area: 10 takeaways from Brainstorm Tech
It’s a little easier to get into Aspen than it is to get out—or so I have learned the past couple days as I tried to return home from Fortune’s Brainstorm Tech conference this week. (I finally made it!)
But missed flights aside, it was rejuvenating to be in-person with everyone for a few days—hiking to the Maroon Bells, sharing divine bread pudding, and learning about new industries, or rings that tell you more about your sleep.
We may be catapulting headfirst into a recession, but there are still plenty of new ideas driving entrepreneurs, and creative solutions to try and solve some of our country’s biggest problems.
Here are 10 takeaways from the conference:
- Initial research suggests that the numbers of people actually leaving the Bay Area may be overblown. But whatever way you look at it: It seems to be a rather controversial decision.
- Air taxi flight may be underway by 2024, and reach ubiquity by 2030.
- Not all unicorns are doing layoffs—but they’re still preparing for tough times ahead.
- Magic Leap is releasing its second generation AR headset in September.
- A.I. is becoming a bigger part of our everyday lives. So are the ethics questions swirling around it.
- Work-from-home is best tackled on a team-by-team basis—not just at the company level.
- The Russia-Ukraine conflict may be encouraging more tech companies to work with the Defense Department.
- The IPO market may have stalled in 2022, but there are still plenty of companies sitting in the pipeline.
- Even after the overturn of Roe v. Wade, investors still see a host of opportunities in women’s health startups.
- YouTube TV has passed five million subscribers and trial customers for its streaming service.
To see what else you missed at Brainstorm Tech, read more here. And I hope you will join us next year.
Jackson Fordyce curated the deals section of today’s newsletter.
- Merlin Labs, a Boston-based autonomous flight technology developer for fixed-wing aircrafts, raised $105 million in Series B funding. Snowpoint, Baille Gifford, and GV invested in the round.
- Bishop Fox, a Tempe, Ariz.-based offensive security company, raised $75 million in Series B funding from Carrick Capital Partners.
- Preply, a Brookline, Mass.-based online language learning marketplace, raised $50 million in Series C funding. Owl Ventures led the round and was joined by investors including Diligent Capital, Hoxton Ventures, Educapital, Evli Growth Partners, Grupa Pracuj co-founder Przemyslaw Gacek, Swisscom Ventures, and Orbit Capital.
- Kontent.ai, a Brno, Czech Republic-based modular content platform, raised $40 million in funding from Expedition Growth Capital.
- Dedrone, a San Francisco-based airspace security company, raised $30 million in Series C funding. Axon led the round and was joined by investors including Aqton Partners, Menlo Ventures, Felicis Ventures, Target Partners, and other angels.
- HIVERY, a Sydney-based retail assortment strategy simulation and optimization solutions company, raised $30 million in funding. Tiger Global led the round and was joined by investors including Blackbird Ventures, AS1 Partners, and OneVentures.
- Robin, a Boston-based hybrid workplace company, raised $30 million in Series C funding. Tola Capital led the round and was joined by investors including FirstMark, Accomplice, Boldstart, and Allegion Ventures.
- Detect Technologies, a Chennai, India-based, A.I.-based SaaS company, raised $28 million in Series B funding. Prosus Ventures led the round and was joined by investors including Accel, Elevation Capital, Shell Ventures, Bharat Innovation Fund, and Bluehill Capital.
- FORT Robotics, a Philadelphia-based communications and control company for smart machines, raised $25 million in Series B funding. Tiger Global led the round and was joined by investors including Lemnos, GRIDS Capital, Creative Ventures, Compound, Funders Club, and Prologis.
- Particle Health, a New York-based API platform for health care data exchange, raised $25 million in funding. Canvas Ventures led the round and was joined by investors including Menlo Ventures, Story Ventures, and Pruven Capital.
- Canvas Medical, a San Francisco-based electronic medical record and payments platform for healthcare, raised $24 million in Series B funding. M13 led the round and was joined by investors including Haystack, Inspired Capital, IA Ventures, Upfront Ventures, and Irongrey.
- Uplevel, a Seattle-based engineering insights company, raised $20 million in funding. Cota Capital led the round and was joined by investors including Norwest, Madrona, Voyager, and other angels.
- Wysa, a Boston-based digital mental health platform, raised $20 million in funding. HealthQuad led the round and was joined by investors including British International Investment, W Health Ventures, Kae Capital, Google Assistant Investments, pi Ventures, and others.
- Xilis, a Durham, N.C.-based biotechnology cancer company, raised $19.2 million in Series A extension funding. FPV Ventures led the extension and was joined by investors including Alexandria Venture Investments, EQT Life Sciences, Mubadala Capital Management, Pear Ventures, GV, the Duke Angel Network, Catalio Capital Management, Two Sigma Ventures, Felicis Ventures, Alix Ventures, and others.
- Hang, a remote-based NFT-powered loyalty and membership software solution for brands, raised $16 million in Series A funding. Paradigm led the round and was joined by investors including Tiger Global, Kevin Durant’s Thirty Five Ventures, Mr. Beast’s Night Ventures, Tiffany & Co.’s Alexandre Arnault, Green Bay Ventures, Shrug Capital, Good Friends, and others.
- NervGen Pharma, a Vancouver-based medicine company treating nerve damage and neurodegenerative diseases, raised $15 million in funding from PFP Biosciences.
- Walla, a San Diego-based studio management software for boutique fitness businesses, raised $8 million in Series A funding. Industry Ventures led the round and was joined by investors including TenOneTen Ventures, Keshif Ventures, and Crescent Ridge Partners.
- Bobidi, a Los Gatos, Calif-based A.I. model test platform, raised $5.8 million in funding. Y Combinator, We Ventures, Hyundai Motors Group, ZER01NE, Scrum Ventures, New Product Experimentation, Meta, Lotte Ventures, Atlas Pac Capital, and other angels invested in the round.
- Pebble, a Cambridge, Mass.-based personalized investment platform, raised $5 million in seed funding. Jump Capital, NextView Ventures, and Cendana Capital invested in the round.
- RIDE Capital, a Berlin-based investing platform, raised €3 million ($3 million) in funding co-led by angel investors and entrepreneurs Lea-Sophie Cramer, Verena Pausder, and soccer player Mario Götze.
- Xage, a Palo Alto-based zero trust security company, raised an additional $2 million in Series B funding from Chevron Technology Ventures.
- Chewbox, a Los Angeles-based ghost kitchen software company, $1.25 million in seed funding. MaC Venture Capital led the round and was joined by Freada Kapor Klein and Mitch Kapor.
- HGGC invested $115 million in Upland Software, an Austin-based enterprise software company.
- Allied Power Holdings, backed by Bernhard Capital, acquired Radiation Safety & Control Services, a Seabrook, N.H.-based project management, technical, and laboratory services provider to the nuclear power industry. Financial terms were not disclosed.
- Compusoft + 2020, backed by TA Associates, acquired Resource and Financial Management Systems, a Tuscaloosa, Ala.-based business management software provider for the flooring market. Financial terms were not disclosed.
- Crosslake, backed by Falfurrias, acquired VantagePoint, an Austin-based cybersecurity advisor. Financial terms were not disclosed.
- Novacap acquired Ratehub.ca, a Toronto-based financial services marketplace. Financial terms were not disclosed.
- WindRose Health Investors acquired Ganse, a Lancaster, Pa.-based long-term care and specialty pharmacy. Financial terms were not disclosed.
- One Equity Partners acquires CoxReps, a New York-based national television representation company, and Gamut, a New York-based digital advertising company, from Cox Media Group. Financial terms were not disclosed.
- Unity Software agreed to acquire IronSource, a Tel Aviv-based app monetization company. A deal is valued at $4.4 billion.
- Markforged agreed to acquire Digital Metal, a Höganäs, Sweden-based binder jetting technology company, from Höganäs AB for $32 million.
- THOR Industries invested $15 million in Dragonfly Energy, a Reno, Nev.-based deep cycle lithium-ion battery producer to the RV industry.
- Northwell Health invested $10 million in Brightline, a Palo Alto-based virtual behavioral-health service for children and their families.
- EIS Holdings acquired AET Group, an Albany, Ga.-based remediation and clean-up platform. Financial terms were not disclosed.
- Emerald acquired Bulletin, a New York-based wholesale marketplace. Financial terms were not disclosed.
- Ensono acquired AndPlus, a Southborough, Mass.-based cloud native and data engineering firm. Financial terms were not disclosed.
- SymphonyAI agreed to acquire NetReveal, a London-based financial crime detection company, from BAE Systems. Financial terms were not disclosed.
FUNDS + FUNDS OF FUNDS
- Revelstoke Capital Partners, a Denver-based private equity firm, raised $376 million for a fund focused on veterinary health.
- Oak HC/FT, a Stamford, Conn.-based venture and growth equity firm, promoted Matt Streisfeld to general partner and Charlotte Smith to vice president.