Category: Sequoia

June 4, 2019 Off

Sequoia-backed Whole Biome wants to heal your gut with medical-grade probiotics

By Jill T Frey

Whole Biome has pulled in $35 million in Series B financing from a list of investing titans, including Sequoia, Khosla, True Ventures, the Mayo Foundation and AME Ventues — just to name a few. The goal? To heal what ails you using microscopic bugs.

Medical science has caught on in the last few years about the importance of gut health using these bugs (also known as probiotics). Now startups are pitching in using venture money to come up with new and novel ideas.

“We’re at a unique point in time as the field of microbiome biology converges with enabling cutting-edge technologies and bioinformatics that will open up a whole new world of innovative health products,” said Colleen Cutcliffe, Whole Biome’s co-founder and chief executive officer.

Cutliffe, who hails from DNA sequencing company Pacific Biosciences, along with her partners Jim Bullard and John Eid, built a platform able to compute information … Read the rest

May 24, 2019 Off

CFIUS Cometh: What this obscure agency does and why it matters to your fund or startup

By Jill T Frey

On January 12, 2016, Grindr announced it had sold a 60% controlling stake in the company to Beijing Kunlun Tech, a Chinese gaming firm, valuing the company at $155 million. Champagne bottles were surely popped at the small-ish firm.

Though not at a unicorn-level valuation, the 9-figure exit was still respectable and signaled a bright future for the gay hookup app. Indeed, two years later, Kunlun bought the rest of the firm at more than double the valuation and was planning a public offering for Grindr.

On March 27, 2019, it all fell apart. Kunlun was putting Grindr up 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 16, 2019 Off

YouTrip, a challenger bank in Southeast Asia, raises $25.5M for expansion

By Jill T Frey

Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region.

Challenger banks have sprung up in Europe in recent years. Unicorns Monzo, Revolut and N26 are among those that offer their customers a debit card linked to an app and various levels of banking services, including savings and overdrafts. Brex — another billion-dollar-valued startup — is bringing that approach across the pond to the U.S. market.

But what about Southeast Asia?

All the signs indicate this is a region where digital services can thrive. The number of internet users across its six main countries is larger the entire U.S. population, and online spending is tipped to triple to $240 billion by 2025. Already, the region has mega … Read the rest