Category: boston

June 2, 2019 Off

Where are all the biotech startups raising?

By Jill T Frey

Where are all the biotechnology companies raising these days? We crunched some numbers to arrive at an answer.

Using funding rounds data from Crunchbase, we plotted the count of venture capital funding rounds raised by companies in the fairly expansive biotechnology category in Crunchbase. Click the chart below and you can hover over individual data points to see the number of venture rounds raised in a given metro area between the start of 2018 and late May 2019 (as of publication). Although there are biotechnology companies located throughout the world, we focused here on just the U.S.

Unlike in the software-funding business, where New York City (and … Read the rest

May 21, 2019 Off

Biofourmis raises $35M to develop smarter treatments for chronic diseases

By Jill T Frey

Biofourmis, a Singapore-based startup pioneering a distinctly tech-based approach to the treatment of chronic conditions, has raised a $35 million Series B round for expansion.

The round was led by Sequoia India and MassMutual Ventures, the VC fund from Massachusetts Mutual Life Insurance Company. Other investors who put in include EDBI, the corporate investment arm of Singapore’s Economic Development Board, China-based healthcare platform Jianke and existing investors Openspace Ventures, Aviva Ventures and SGInnovate, a Singapore government initiative for deep tech startups. The round takes Biofourmis to $41.6 million raised to date, according to Crunchbase.

This isn’t your typical TechCrunch funding story.

Biofourmis CEO Kuldeep Singh Rajput moved to Singapore to start a PhD, but he dropped out to start the business with co-founder Wendou Niu in 2015 because he saw the potential to “predict disease before it happens,” he told TechCrunch in an interview.

AI-powered specialist post-discharge care

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May 21, 2019 Off

Bringing tech efficiencies to the agribusiness market, Silo harvests $3 million

By Jill T Frey

Roughly $165 billion worth of wholesale produce is bought and sold every year in the U.S. And while that number is expected to go up to $1 trillion by 2025, the business of agribusiness remains unaffected by technology advancements that have reshaped almost every other industry.

Now Silo, a company that recently raised $3 million from investors led by Garry Tan and Alexis Ohanian’s Initialized Capital and including Semil Shah from Haystack Ventures, angel investors Kevin Mahaffey and Matt Brezina and The Penny Newman Grain Company, an international grain and feed marketplace, is looking to change that. 

Silo’s chief executive, Ashton Braun, spent years working in commodities marketplaces as a coffee trader in Singapore and moved to California after business school. As part of the founding team at Kite with Adam Smith, Braun worked on getting off the ground Kite’s software to automate computer programming, but he’d … Read the rest

May 4, 2019 Off

Startups Weekly: Will the Seattle tech scene ever reach its full potential?

By Jill T Frey

Greetings from Seattle, the land of Amazon, Microsoft, two of the world’s richest men and some startups.

I’m always surprised the Seattle startup ecosystem hasn’t grown to compete with the likes of Silicon Valley — or at least Boston and New York City — since the dot-com boom. Today, it’s the strongest it’s has been due to the successes of companies like the newly minted unicorn Outreach, trucking business Convoy and, of course, the dog walking startup Rover. But the city still lags behind, failing to adopt the culture of entrepreneurship that defines San Francisco.

I spent a lot of time wondering why it hasn’t reached its full potential. Is it because Microsoft and Amazon pay their employees so well they don’t have the same urge to build something from the ground up? Is it a lack of access to capital? Is the city not attracting top talent? If you … Read the rest

May 1, 2019 Off

Shellbot malware evolves to spread and shuts down other cryptominers

By Jill T Frey

When hackers want to make a quick buck, mining cryptocurrency seems to be the way to go.

New research out Wednesday by Boston-based security firm Threat Stack shared exclusively with TechCrunch reveals a new variant of the Shellbot malware is taking a leaf out of the other cryptocurrency mining by breaking into computers and using their resources to make money.

Shellbot, first written about by Jask in February, now uses an old but reliable SSH brute force technique to break into internet-connected Linux servers with weak passwords to infect a system and mine cryptocurrency.

But now, Threat Stack says, the malware has new capabilities, allowing it to spread through a network and shut down other cryptominers on infected computers, allowing the malware to free up more processing power for its own cryptomining operation.

“The main goal of this campaign appears to be monetary gain via cryptomining and propagating itself to … Read the rest

April 27, 2019 Off

Startups Weekly: All these startups are raising big rounds

By Jill T Frey

TechCrunch’s Connie Loizos published some interesting stats on seed and Series A financings this week, courtesy of data collected by Wing Venture Capital. In short, seed is the new Series A and Series A is the new Series B. Sure, we’ve been saying that for a while, but Wing has some clean data to back up those claims.

Years ago, a Series A round was roughly $5 million and a startup at that stage wasn’t expected to be generating revenue just yet, something typically expected upon raising a Series B. Now, those rounds have swelled to $15 million, according to deal data from the top 21 VC firms. And VCs are expecting the startups to be making money off their customers.

“Again, for the old gangsters of the industry, that’s a big shift from 2010, when just 15 percent of seed-stage companies that raised Series A rounds were already making … Read the rest