Topic A: The Collapse of Silicon Valley Bank

The financial institution was key to startups.

The FDIC covered most accounts.

SVB Financial filed for bankruptcy.

SVB was the biggest bank to fail since the 2008 financial crisis. Signature Bank in New York felt the reaction to SVB’s failure, along with Pacific Western Bank, among other banks.

First Citizens BancShares agreed to acquire the commercial business of SVB from the FDIC.

Members of Congress and regulators pointed to mismanagement at SVB. Another aspect was a significant change in bank regulation during the Trump administration. Employee turnover at the San Francisco Federal Reserve is a factor in the troubled banking industry

Initial Public Offerings

Harita Nickel raised about $659 million in its Jakarta IPO.

Atlas Energy Solutions raised $324 million in its IPO.

Trailblazer Merger I raised $60 million in its IPO.

Four Leaf Acquisition raised $52 million in its IPO.

Oak Woods Acquisition raised $50 million in its IPO.

Mega-Rounds

There were about 50 mega-rounds in March, about the same as in January, resuming robust rounds of funding, much better than February of this year, when there were around 23 mega-rounds.

Stripe raised more than $6.5 billion, at a valuation of $50 billion. Primary investors include existing Stripe shareholders — Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital — as well as new investors including GIC, Goldman Sachs Asset and Wealth Management, and Temasek.

Agtech/Foodtech

Divert, a Concord, Mass.-based food waste management startup, raised $100 million in equity funding and $1 billion in structured project finance. Enbridge led the equity and was joined by insider Ara Partners.

Hectare, a British agriculture supply chain software-as-a-service startup, raised $20 million in Series A funding. The round was led by existing and private investors.

Oats Overnight of Tempe, Ariz., raised more than $20 million in Series A funding led by Singh Capital Partners, BFG Partners, Impatient Ventures, Watchfire Ventures, Morrison Seger Venture Capital Partners, Vanterra Ventures, Access Capital, and Pure Ventures.

BelliWelli, a Marina Del Rey, Calif.-based maker of gut-healthy brownies and other foods, raised $15.4 million in Series A funding led by The Invus Group.

San Francisco-based immi raised $10 million in Series A funding led by Touch Capital with participation from celebrity investors such as Naomi Osaka, Usher, Apolo Ohno, David Grutman, Kygo’s Palm Tree Crew, and Gryffin, as well as Siddhi Capital, Gold House Ventures, Anti Fund, Harizury, Lab Capital Advisors, CAA’s Co-Head of Basketball, Lynja, Lauren Kleinman (Dreamday, The Quality Edit), Theresa Kang (Blue Marble Pictures), and the CEOs or Co-founders of Fly By Jing, Bokksu, Boba Guys, LMNT, OWYN, Hero Cosmetics, Supply, Rumble Boxing, Worlds, Venice Music, Adgile Media Group, Hyphen Capital, and other investors.

Windfall Bio of Menlo Park, Calif., raised $9 million in seed funding. The round was led by Mayfield and UNTITLED, with participation from B37 Ventures, Baruch Future Ventures, Breakthrough Energy Ventures, Bessemer Venture Partners, and Cavallo Ventures.

Copenhagen-based Chromologics raised an additional €7.1 million ($7.5 million) led by Novo Holdings, Nordic Foodtech VC, Danmarks Eksport- og Investeringsfond, Synergetic, and Blue Horizon, as well as new investors Doehler Ventures, and Thia Ventures.

Odyssey Wellness of Fort Lauderdale, Fla., raised $6.3 million in Series A funding.

OneThird, a Dutch food-waste reduction startup, raised $3 million in seed funding. Pymwymic Investment Management led the round and was joined by Halma Ventures, Shift Invest, and Oost NL.

Artificial Intelligence/Machine Learning

San Francisco-based Adept raised $350 million in Series B funding co-led by General Catalyst and Spark Capital. Other investors include Addition, Greylock, Atlassian Ventures, Microsoft, NVIDIA, Workday Ventures, Caterina Fake, Frontiers Capital, PSP Growth, SV Angel, and A.Capital.

Amelia of New York City received a $175 million investment. Backers included BuildGroup and Monroe Capital.

New York-based TandemAI, with facilities in Suzhou, and Shanghai, China, raised $35 million in Series A funding led by Qiming Venture Partners with participation from OrbiMed, Eight Roads Ventures, and F Prime Capital.

Israel’s Qwak raised $12 million in Series A1 funding. Bessemer Venture Partners led the round and was joined by insiders Leaders Fund, StageOne Ventures, and Amit Ventures.

Boston-based VerAI Discoveries raised $12 million in Series A funding from T. Rowe Price, Orion Resource Partners, Chrysalix Venture Capital, and Blumberg Capital.

Unitary raised $8 million in funding led by Plural and joined by individuals like Carolyn Everson.

Automotive/Autonomy/Mobility

Ghost Autonomy of Mountain View, Calif. raised more than $45 million in new funding. Existing backers include Khosla Ventures, Sutter Hill Ventures, Coatue Management, and Founders Fund.

Sweden’s Candela raised $20 million from EQT Ventures, Joel Eklund, Svante Nilo Bengtsson, and Ocean Zero.

Singapore-based ION Mobility raised $18.7 million in Series A funding from TVS Motor, AC Ventures Malaysia, Michael Sampoerna, TNB Aura, Quest Ventures, Monk’s Hill Ventures, Village Global, GDP Venture, and Seeds Capital.

Velotric, a Chinese e-bike maker, raised $7.4 million in Series A funding from Redpoint China Ventures, Fosun RZ Capital, Uphonest, and Lime co-founder Brad Bao, and Toby Sun.

Biotech

Cargo Therapeutics raised $200 million in Series A funding co-led by Third Rock Ventures, RTW Investments, and Perceptive Advisors. Other backers include Nextech, Janus Henderson Investors, Ally Bridge Group, Wellington Management, T. Rowe Price, Cormorant Asset Management, Piper Heartland, Samsara BioCapital, Red Tree Venture Capital, and Emerson Collective.

Chroma Medicine of Cambridge, Mass., raised $135 million in Series B funding led by GV and joined by Arch Venture Partners, DCVC Bio, Mubadala Capital, Sixth Street and insiders Alexandria Venture Investments, Atlas Venture, Casdin Capital, Cormorant Asset Management, Janus Henderson Investors, Newpath Partners, Omega Funds, Osage University Partners, Sofinnova Partners, T. Rowe Price, and Wellington Management.

Flare Therapeutics of Cambridge, Mass., raised $123 million in Series B funding. The round was led by GordonMD Global Investments LP and Pfizer Ventures, with participation from existing investors Boxer Capital, Casdin Capital, Eventide Asset Management, Invus Financial Advisors, Nextech Invest and Third Rock Ventures and new investors Agent Capital, Eli Lilly and Company, Memorial Sloan Kettering Cancer Center, Novartis, Pavilion Capital, and ShangBay Capital.

Noema Pharma, a Swiss developer of drugs for severe CNS disorders, raised around $112 million in Series B funding. Forbion led and was joined by Jeito Capital, UPMC Enterprises, and insiders Sofinnova Partners, Polaris Partners, Gilde Healthcare, and Invus.

Biacara Therapeutics of Cambridge, Mass., raised $108 million in Series B funding co-led by Red Tree Venture Capital and RA Capital Management, with participation from existing investors, including F-Prime Capital, Eight Roads Ventures, Invus, Piper Heartland Healthcare Capital and Premji Invest. New investors include Omega Funds, Bioqube Ventures, Acorn Bioventures, and Janus Henderson Investors.

San Diego-based Rapport Therapeutics raised $100 million in Series A funding from Third Rock Ventures, ARCH Venture Partners, and Johnson & Johnson Innovation.

Mediar Therapeutics of Cambridge, Mass., raised $85 million in Series A funding co-led by Novartis Venture Fund and Sofinnova Partners, joined by Pfizer Ventures, Mission BioCapital, Gimv, Pureos, Bristol Myers Squibb, Eli Lilly & Co., Ono Venture Investment, and Mass General Brigham Ventures.

Cognito Therapeutics of Cambridge, Mass., raised $73 million in Series B funding. FoundersX Ventures led the round and was joined by Alzheimer’s Drug Discovery Foundation, Starbloom Capital, IAG Capital, and WS Investment Co.

EpiBiologics of San Mateo, Calif., raised $50 million in Series A funding led by Mubadala Capital and Polaris Partners, with participation from Vivo Capital and GV.

Montreal-based Congruence Therapeutics raised about an additional $15 million in Series A funding. This extension was led by new investor BDC Capital’s Thrive Venture Fund, with participation from current investors Amplitude Ventures, Fonds de solidarité FTQ, OrbiMed, Investissement Quebec (IQ), SilverArc, and other investors.

Pragma Bio raised $10 million in funding. The Venture Collective led and was joined by Viking Global Investors, Merck Global Health Innovation Fund, and CJ Investments.

Thymmune Therapeutics, a Cambridge, Mass.-based regenerative cell biotech, raised $7 million in seed funding led by Pillar VC.

BioCortex of London, England, U.K., raised $5 million in seed funding led by Sofinnova Partners and Hoxton Ventures.

Trobix Bio of Netanya, Israel, raised $3 million in funding. The round was led by Chartered Group. Nearly $5M

Toronto-based Inspire Biotherapeutics raised an undisclosed amount in pre-seed funding.

Climate Change

New York-based BlocPower raised more than $154 million in equity and debt funding. VoLo Earth Ventures led the Series B funding of $24 million and was joined by Microsoft Climate Innovation Fund, Credit Suisse, Builders Vision, New York State Ventures, Unreasonable Collective, Kimbal and Christiana Musk, Gaingels, Van Jones, Kapor Capital, My Climate Journey, Tale Venture Partners, and Russell Westbrook. BlocPower secured $130 million in debt financing.

Palmetto of Charleston, S.C., raised $150 million from TPG Rise Climate.

Geothermal Engineering, a British developer and operator of geothermal plants, raised £15 million (nearly $18 million) from Kerogen Capital and Thrive Renewables.

XGS Energy of Palo Alto, Calif., raised $14 million in Series A funding led by Anzu Partners.

Denver-based Cowboy Clean Fuels raised $7.5 million in Series A funding led by Machan Investments.

Honolulu-based Shifted Energy raised $4.3 million in seed funding.

Stockholm-based Klimato raised €4.2 million (about $4.5 million) in funding. The round was led by Global Cleantech Capital, with participation from Almi Invest Greentech.

CollectiveCrunch, a Finnish forest and carbon credits management startup, raised €1.4 million ($1.5 million) led by Nidoco Group.

Montreal-based XNRGY raised an undisclosed amount in growth funding. The round was led by MacKinnon, Bennett & Co. and Idealist Capital.

Communications

Element8 of Fort Worth, Texas, raised $200 million in a strategic investment. The round was led by Digital Alpha.

Cybersecurity

RangeForce of Norfolk, Va., raised $20 million in Series B funding co-led by Energy Impact Partners and Paladin Capital Group, joined by KPN Ventures, Lapa Capital Partners, Lanx Capital, and Cisco Investments.

Phoenix-based Right-Hand Cybersecurity raised $5 million in Series A funding led by AZ-VC.

Digital Health

Los Angeles-based Wellth raised $20 million in Series B funding. The round was led by SignalFire, with participation from Frank Williams.

Ryse Health of Arlington, Va., raised $6.5 million in Series A funding led led by Route 66 Ventures and joined by W Health and CareFirst BlueCross BlueShield.

New York-based Mantra Health raised $5 million in Series A extension funding led by VMG Partners.

Singapore-based Thoughtfull raised $4 million in seed funding. Temasek affiliate Sheares Healthcare Group led the round and was joined by Vulpes Investment Management and The Hive Southeast Asia.

Robotics

San Antonio-based Plus One Robotics raised $50 million in Series C funding led by Scale Venture Partners and joined by Top Tier Capital Partners, Tyche Partners, and ROBO Global Ventures.

1X (formerly named Halodi Robotics) of Oslo, Norway, raised $23.5 million in Series A2 funding. The round was led by OpenAI Startup Fund, with participation from Tiger Global and a consortium of Norway-based investors, including Sandwater, Alliance Ventures, and Skagerak Capital.

Irrigreen of Edina, Minn., raised $15 million in seed funding. Ulu Ventures led the round and was joined by Sage Hill Investors, Burnt Island Ventures, MFV Partners, Anorak Ventures, Echo River Capital, Tamiami, Catalyst Innovation Lab, and Sum Ventures.

Toolify of Ulm, Germany, raised a seed funding of an undisclosed amount. The round was led by High-Tech Gründerfonds.

Software

Clerk raised $15 million in Series A funding led by Madrona.

Israel’s CodiumAI raised $11 million in seed funding co-led by Vine Ventures and TLV Partners.

Israel’s daily.dev raised $11 million in seed funding. The round was led by Aleph with participation from Jibe Ventures and Secret Chord Ventures alongside notable angel investors, including Ariel Maislos, Amir Shevat, and several other tech industry leaders.

Conduit raised $7 million in seed funding led by Paradigm.

Dylibso of Boulder, Calif., raised $6.6 million in seed funding led by Felicis Ventures and joined by Boldstart ventures, Pebblebed, and Crew Capital.

Edgeless Systems, a German developer of open-source software for confidential computing, raised $5.3 million in seed funding led by SquareOne.

Wilderness Labs of Portland, Ore., raised $3.3 million in seed funding. The round was led by Apertu Capital and angel investors, such as Miguel de Icaza and Scott Hanselman.

San Francisco-based Appbrew raised $2 million in seed funding led by Accel.

Semiconductors

Coherent Logix of Austin, Texas, raised $85 million from Atlas Credit Partners.

EFFECT Photonics of the Netherlands an additional $40 million in funding from a group of investors led by Invest NL and Innovation Industries, along with other existing investors.

The Final Frontier

Munich-based Isar Aerospace raised €155 million (about $168 million) in Series C funding from 7-Industries Holding, Bayern Kapital, Earlybird VC, HV Capital, Lakestar, Lombard Odier Investment Managers, Porsche SE, UVC Partners, and Vsquared Ventures.

Frontier Aerospace of Thousand Oaks, Calif., raised $10 million in Series A funding. The round was led by AEI HorizonX.

Lonestar Data Holdings of St. Petersburg raised $5 million in seed funding led by Scout Ventures and joined by Seldor Capital, 2 Future Holding, The Veteran Fund, Irongate Capital, Atypical Ventures, and KittyHawk Ventures.

Quantum Computing

Singapore-based Horizon Quantum Computing raised $18.1 million in Series A funding from Tencent, Sequoia Capital India, SGInnovate, Pappas Capital, and Expeditions Fund.

QuantWare of the Netherlands raised €6 million in seed funding. FORWARD.one led the round and was joined by QDNL Participations and Graduate Entrepreneur.

The Metaverse

Tilia, a payments platform for metaverse projects, raised $22 million led by JPMorgan.

Portugal’s Metasense raised $5 million in funding. The round was led by Luduson G Inc.

Odds and Ends

Jump, an upstart rival to Ticketmaster co-founded by Alex Rodriguez and Marc Lore, raised $20 million. Forerunner Ventures led and was joined by Courtside Ventures, Will Venture, Mastry Ventures, Drive by DraftKings, and MetaLab.

Kindbody, a New York-based provider of women’s fertility services, raised $100 million at a $1.8 billion valuation led by Perceptive Advisors.

SafKan Health, a Seattle-based developer of an earwax removal system, raised $8 million in Series A funding led by Unorthodox Ventures.

Skin + Me, a London-based virtual skin care startup, raised £11 million in Series B funding led by Octopus Ventures.

Poppy Handcrafted Popcorn of Asheville, N.C., raised $3 million in Series A funding led by JACS Capital, the family office of former General Electric CEO Jeff Immelt.

FilmHedge, a provider of short-term loans for film and TV productions, raised $5 million in Series A funding from Collab Capital, WOCStar, TriplePoint Capital, and the Savannah College of Art & Design. It also secured a $100 million credit facility.

Pinkie, a New York-based maker of period pads for tweens and teens, raised $1 million in seed funding from firms like Amboy Street Ventures.

Kream, a South Korean reselling platform for luxury goods, raised $168 million in Series C funding at a $742 million valuation. Return backer Altos Ventures led the round, and was joined by Naver, SoftBank Ventures Asia, Mirae Asset Capital, Samsung Securities, and Axiom Asia.

Fundraising

KPS Capital Partners is raising $8 billion; K1 Investment Management is raising $6.25 billion; JMI Equity raised $2.4 billion; Bain Capital Ventures raised $1.9 billion for two funds; Riverside Company raised $1.872 billion; Deerpath Capital Management raised $1.5 billion; and Angelo Gordon raised $1.3 billion.