Today 5 Companies Raised $289 Million.
Haul247, Upstream Bio, Pomelo Care, Kate Therapeutics, and Raising Superstars Announced Fundraising Rounds.
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Deal #1: Haul247, Nigeria's Logistics Platform, Secures Funding for Expansion.
Funding Round Info:
Haul247, a Nigerian logistics platform, has successfully raised a seed round of $3 million in funding. The investment comes from Alitheia Capital, a gender-lens investing fund, which provided equity capital, and Investment One, which contributed $1 million in debt financing. The company's co-founder, Afolayan, expressed the intention to leverage this new investment to expand its market share to around 20% and attract more multinational companies to its platform. This strategic move will facilitate the company's expansion into other African countries where it already operates. The founders of Haul247 highlighted that the timing of this funding round aligns with the crucial role of logistics in the success of The African Continental Free Trade Area (AfCFTA).
About Haul247:
Haul247 is a comprehensive logistics technology platform focused on streamlining the freight industry in Nigeria and Africa. By harnessing the power of technology, the company aims to enhance efficiency, transparency, safety, and storage of goods.
The platform offers a user-friendly web and mobile application that operates on cloud-based infrastructure. It provides a modernized and simplified approach to trucking, warehousing, reverse haulage, and tracking, all accessible at the users' fingertips. The system is further strengthened by an artificial intelligence algorithm, enabling customers to make informed decisions that optimize time and costs.
Deal #2: Upstream Bio Secures $200 Million in Series B Round to Propel UPB-101 for Allergic and Inflammatory Diseases.
Funding Round Info:
Clinical-stage biotech company, Upstream Bio, has successfully concluded a significant Series B financing round, raising $200 million. The funding was led jointly by Enavate Sciences and Venrock Healthcare Capital Partners, with participation from additional investors including Bain Capital Life Sciences, Wellington Management, and existing Series A investors such as OrbiMed, Access Biotechnology, Decheng Capital, Altshuler Shaham Provident Funds Ltd., TCG X, HBM Healthcare Investments, Omega Funds, and Samsara BioCapital.
The capital raised will be utilized by Upstream Bio to advance the clinical development of UPB-101, a monoclonal antibody that targets the TSLP receptor (TSLPR). Currently in Phase 1b development for asthma treatment, Upstream Bio intends to proceed with registrational Phase 2 clinical trials for asthma and chronic rhinosinusitis with nasal polyps (CRSwNP). In parallel, the company plans to undertake translational, manufacturing, and device development activities, facilitating a smooth transition to Phase 3 development.
The Series B funding has been structured to support the development of a differentiated target product profile that is expected to be compelling for regulatory, market access, and commercialization activities. With this substantial funding, Upstream Bio aims to make significant strides in the treatment of allergic and inflammatory diseases.
About Upstream Bio:
Upstream Bio, a biotechnology company established in 2004 and headquartered in the United States, focuses on the development of antibody therapy for the treatment of severe asthma. The company is dedicated to advancing scientific research and employing innovative technologies to address the challenges faced by patients with this condition. With a team of experienced scientists, researchers, and medical professionals, Upstream Bio collaboratively works towards pushing the boundaries of asthma treatment. Their goal is to develop effective therapies that offer enhanced efficacy, safety, and tolerability. By conducting rigorous clinical trials and adhering to stringent regulatory standards, Upstream Bio ensures that their potential treatments meet the highest quality standards before being made available to patients.
Driven by a patient-centric approach, Upstream Bio aims to make a positive impact on the lives of individuals affected by severe asthma. Through the development of innovative treatment options tailored to meet specific patient needs, the company strives to alleviate symptoms, improve the overall quality of life, and reduce the burden of this chronic respiratory condition. With a commitment to scientific excellence, ongoing research, and strategic collaborations, Upstream Bio continues to contribute to advancements in the field of asthma therapy. Their dedication to improving the lives of patients remains central to their mission, as they endeavor to provide innovative solutions for individuals impacted by severe asthma.
Deal #3: Pomelo Care Raises $33 Million, Forges Strategic Partnerships with Top Health Plans, Employers, and Academic Medical Centers to Revolutionize Maternal and Newborn Healthcare.
Funding Round Info:
Pomelo Care, a healthcare company, has announced the completion of a Series A financing round, securing a total of $33 million in capital. Both the Series A round and the previous Seed round were led by Andreessen Horowitz, with participation from various investors, including First Round Capital (co-lead of the Seed round), SV Angel, Operator Partners, Allen & Company LLC, BoxGroup, and notable angel investors such as Adam Boehler, Managing Partner of Rubicon Founders, and Puneet Singh, Former Chief Growth Officer, Diversified Business Group at Elevance.
With the new funding, Pomelo Care is making significant strides towards its goal of covering two million lives this year. The company currently operates in 44 states, partnering with national payers, prominent Medicaid managed care organizations, esteemed employers like Mount Sinai Health System, and leading academic medical centers such as Penn Medicine.
Pomelo Care has garnered high patient satisfaction, boasting an average rating of 4.9 out of 5. The company's commitment to accessible care is exemplified by their round-the-clock availability, with a significant portion of patient interactions taking place outside of traditional clinic hours. Furthermore, Pomelo Care maintains an impressive average response time of five minutes, ensuring prompt and efficient healthcare support for their patients.
About Pomelo Care:
Pomelo Care is a comprehensive healthcare facility specializing in providing a wide range of services for pregnant mothers and babies. Their offerings encompass nutrition counseling, primary care, women's health services, treatment for postpartum depression, and pediatric care.
What sets Pomelo Care apart is their personalized approach to healthcare. They carefully match each user with a dedicated care team tailored to their specific fertility, pregnancy, and postpartum needs. This care team may consist of professionals such as midwives, primary care physicians, therapists, dietitians, lactation consultants, and more.
By offering this multidisciplinary approach, Pomelo Care aims to ensure that pregnant mothers and babies receive comprehensive and individualized care throughout their journey. Their commitment to providing specialized support and expertise contributes to the overall well-being and health of their patients.
Deal #4: Kate Therapeutics Launches with $51 Million Series A Funding to Advance Innovative Genetic Medicines for Muscle and Heart Disease Treatment.
Funding Round Info:
Kate Therapeutics Inc. ("KateTx"), a pioneering gene therapy company, has emerged from stealth mode, propelled by a substantial $51 million Series A financing round. The funding was co-led by esteemed investors Westlake Village BioPartners and Versant Ventures, with notable participation from Osage University Partners and UF Innovate | Ventures. The proceeds from this financing, coupled with a license agreement, will be utilized to accelerate the advancement of KateTx's initial internal portfolio of programs focused on muscle and heart diseases. These programs include myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), which are among the primary causes of adult-onset muscular dystrophy.
About:
Kate Therapeutics is a biotechnology company that prioritizes patient well-being, focusing on the development of innovative gene therapies using AAV (adeno-associated virus) vectors. Their primary objective is to address genetically defined muscle and heart diseases through advanced genetic treatments. By harnessing the potential of gene therapy, Kate Therapeutics aims to provide targeted and personalized solutions that can significantly improve the lives of patients affected by these conditions. Through their patient-focused approach, the company strives to make a meaningful impact in the field of genetic medicine and offer new hope for individuals with muscle and heart diseases.
Deal #5: Raising Superstars, an Edtech Startup, Secures $2 Million in Pre-Series A Funding Round.
Funding Round Info:
Mumbai-based edtech company, Raising Superstar, has successfully raised $2 million in a pre-Series A funding round. The round was led by BLinC Invest, a venture capital fund specializing in the edtech and fintech sectors. Raising Superstar offers activity-based educational videos designed for parents to engage and teach children up to the age of six.
The company intends to utilize the funding to bolster its management team, expand its global presence by creating localized content, and invest in the development of technology. Raising Superstar was established in 2020 by Raghav Himatsingka, a Stanford University alumnus and former co-founder of Truckola Technologies, along with Shraddha Himatsingka, a Leeds University alumna and former parents' consultant. Notably, the startup gained recognition after being featured on Shark Tank India in 2021.
About Rising Stars:
Raising Superstars is a mission-driven company with the goal of supporting the holistic development of every baby worldwide. Their focus lies in providing parents with the necessary tools and resources to help their children reach their full potential. Through their engaging and activity-based educational videos, Raising Superstars aims to create a nurturing and stimulating learning environment for children during their early years. By leveraging advanced technology and evidence-based practices, the company strives to optimize early childhood development and foster a strong foundation for lifelong learning. Raising Superstars encourages active parental involvement, fostering a deep connection and facilitating comprehensive growth. Their commitment to empowering every child to thrive and succeed underscores their dedication to nurturing the unique talents of each individual.
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