Lume Weekly Private Market News & Notes 11.14.2022
Covers news about startups, private deals, technology, and innovation in the private market
đ Stats of the Week đ
Private equity fund performance softened in the first half of the year as valuations declined according to Pitchbook.
đ° Fundraising đ°
Doola a banking and credit-building provider raises $8M targeting global founders (Nov 8)
Doola, a company helping global founders start a limited liability company in the United States, even without a Social Security number, raised an $8M round of funding.
Laika laps up $50M for its automated security compliance platform (Nov 8)
New York-based compliance platform developer Laika closed a $50M Series C funding led by Fin Capital. Founded in 2019, Laika syas it has raised $98M. Laika today has some 500 customers.
Blockchain startup TRM Labs raises $70M Series B (Nov 9)
San Francisco-based startup TRM Labs raises another $70M for its Series B last week led by Thoma Bravo. TRM Labs uses blockchain intelligence solution to investigate and analyze crypto-related fraud and financial crime.
Savvy Wealth, a wealth management app, raises $11M (Nov 10)
Savvy Wealth, a New Yorkâbased registered investment advisor that is building its own proprietary technology, has raised $11M in a Series A-1 funding round.
Crypto brokerage Genesis receives additional equity infusion of $140M (Nov 11)
Genesis, with $175M locked in FTX trading, announced on Nov. 10 that it will receive an additional equity infusion of $140M from its parent company, Digital Currency Group.
Owl Labs lands $25M and partnership with HP (Nov 14)
Owl Labs, a startup developing a linuep of AI-powered meeting hardware, announced that it raised $25M in a Series C round led by HP Tech Ventures. Owl Labs CEO said, âwe can share that weâve had a solid growth trajectory with more than 3x revenue growth year-over-year and 7x revenue growth since the pandemic beganâ.
đ Others đ
Brex started a new partnership with Techstars (Nov 2)
Brex has been steadily increasing its partnerships with startup aggregators over time, such as Y Combinator and AngelList. Its latest announcement, it inked a new deal with Techstars.
Crypto exchange Kraken launches 'gasless' NFT marketplace (Nov 3)
Cryptocurrency exchange Kraken has launched the beta version of its platform for its NFT marketplace without gas fees.
Crypto giant files for bankruptcy as CEO resigns in a stunning downfall (Nov 11)
FTX Group said last Friday it has filed for bankruptcy after its rival Binance, the worldâs largest exchange, signed a non-binding agreement to acquire FTX, but later walked away from the acquisition after one day of audits. FTX raised a total $2B funding and its last valuation was $32B.