The Daily Startup: Fyusion Snaps Up $13M for ‘Space Capture’ Photo App

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As the number of photo apps for mobile devices proliferates, one startup, Fyusion, says it is moving beyond 3-D photography and offering “space capture,” which it says is more immersive and interactive than other 3-D camera technology available, Timothy Hay reports for Dow Jones VentureSource. The San Francisco-based company has raised a $13 million Series B round from return investors New Enterprise Associates and Tokyo Edge Capital, or UT-EC, and a new unnamed angel investors. Users of the company’s app can capture multiple vantage points of a scene. The stitched-together image allows viewers to view it from different angles and vantage points.

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Caribou Biosciences has raised $11 million in Series A financing to advance technology to edit DNA. These edits could include deleting a gene or inserting a new gene into a genome. Scientists use genome editing to Continue reading "The Daily Startup: Fyusion Snaps Up $13M for ‘Space Capture’ Photo App"

The Daily Startup: Specialty Pharma Continues Growth With ZappRx Funding

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Venture-backed companies have worked on pharmaceutical-related products that run the gamut from radio-frequency ID tags to track shipments to social games that reward medication compliance. The startup ZappRx, which is focusing on the very specific niche of specialty pharmaceuticals, has raised $5.6 million in Series A funding, Timothy Hay reports for Dow Jones VentureWire. ZappRx makes a platform that is free to doctors, patients and pharmacists, and which handles the various consent forms, authorizations and other administrative necessities that go into prescribing and delivering specialty drugs. The company’s chief executive, Zoe Barry, said ZappRx’s paying customers are pharmaceutical companies, which want to find the bottlenecks in their delivery chain. The new funding came from investors that include Atlas Venture and SR One, the venture arm of pharmaceutical company GlaxoSmithKline.

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Hudl has raised $72.5 million in Series Continue reading "The Daily Startup: Specialty Pharma Continues Growth With ZappRx Funding"

The Daily Startup: Etsy’s IPO Could Be the Largest for a N.Y. Startup

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The craft marketplace Etsy said its initial public offering could raise more than $300 million, The Wall Street Journal’s Lisa Beilfuss reports. If the company eventually raises that much or more for the offering, it would be the largest IPO for a New York-based venture-backed company since 1992, according to data from Dow Jones VentureSource. The largest IPO for a New York City-based startup was FXCM’s $210.8 million offering in December 2010, according to the VentureSource data. More recently, OnDeck Capital raised $200 million in its offering. The Etsy IPO could give the New York tech scene the large exit investors have been looking for as they funnel more money into startups in the city. Etsy’s  investors include Accel Partners, Index Ventures, Tiger Global Management and Union Square Ventures. Combined those investors own about a 62% stake in the startup.

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Spruce Health, a company using mobile technology to cut long wait times to see a dermatologist, has added $15 million to the Series A round that the company began raising last year.The funding was led by Kleiner Perkins Caufield & Byers, which was joined by new investor Google Ventures and returning investors Cowboy Ventures and Baseline Ventures.

Noom, whose weight-loss and behavior-modification applications have occupied the top spot in the health category of the GooglePlay storefront for the past couple of years, has raised a $16.15 million Series B round. The round was led by new InterVest Co., a South Korea-based venture capital firm, joined by new investor Hanmi IT, which is a subsidiary of Hanmi Pharmaceutical Co. Ltd. Also joining the funding were return investors RRE Ventures, TransLink Capital and Qualcomm Ventures.

Thrasos Therapeutics has raised a $21 million Series D financing to make acute kidney injury a less-common complication of heart surgery. New investor BDC Capital and return backer SR One led this financing for Thrasos. Other previous investors participating included Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management, Pappas Continue reading "The Daily Startup: Etsy’s IPO Could Be the Largest for a N.Y. Startup"

The Daily Startup: Novan Scores $50 Million for Acne Treatment

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Novan Inc. has amassed $50 million for clinical studies of a novel acne treatment, one of several large rounds companies have raised recently to target the most common skin disorder in the U.S., Dow Jones VentureWire’s Brian Gormley reports. Acne affects 40 million to 50 million Americans, according to the American Academy of Dermatology. It occurs because of the overproduction of oil by enlarged oil glands, blockage of hair follicles that release oil, and bacterial growth within hair follicles, according to the academy. Treatments such as benzoyl peroxide are used in mild cases, with antibiotics prescribed for moderate to severe acne. Novan, better known as Novan Therapeutics, is developing a nitric oxide-based treatment. Ireland’s Malin Corp., a new investor, was the cornerstone investor in the mezzanine round, which also included existing individual investors.

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Berlin-based online auction house Auctionata Inc. has raised 42 million euros ($45.4 million) in Series C funding to further expand several categories of goods on offer and add a range of new categories. The round was led by Warsaw-based MCI Management, joined by new investors Hearst Ventures, London-based Kreos Capital and Hong Kong-based Yuan Capital.

Novartis AG has formed a $750 million alliance with Aduro Biotech Inc., amid a surge of deal-making among developers of drugs that incite an immune-system attack on cancer.  New immunotherapies treat diseases such as melanoma and promise to fight many other tumors. Early success in the field is driving corporations to strike early when new technologies emerge.

SolarEdge Technologies Inc., maker of power inverters used in solar installations, closed its first day of trading on Nasdaq above opening price and with a market capitalization of $846.6 million. The company priced its initial public offering of 7 million shares at $18 per share and closed trading on Monday at $22.07, representing an increase of about 23%.

GoFormz Inc. has emerged with $3 million for software that creates digital versions of paper forms for mobile devices, enabling people to collect data on Continue reading "The Daily Startup: Novan Scores $50 Million for Acne Treatment"

The Daily Startup: Redpoint Ventures is Raising a New Early-Stage Fund

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Redpoint Ventures, a veteran Silicon Valley venture capital firm, has started rounding up investments for its next early-stage fund, according to two people familiar with the situation, Yuliya Chernova and Hillary Canada report for Dow Jones VentureWire. Redpoint, established in 1999, has backed companies including Nextdoor and RelateIQ. Last year, Redpoint companies 2U and Zendesk went public. Older investments include Netflix, TiVo and HomeAway . The The Menlo Park, Calif.-based firm looks to raise a fund of roughly the same size as its previous vehicle, the people familiar with the situation said. Redpoint closed a $400 million early-stage fund, Redpoint VenturesV LP, in 2013, following a fund of similar size raised in 2009. It also raised a $400 million growth fund in 2011. The new fund It probably would finish fundraising around midyear, one person said.

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PlayVox has raised $1.5 million from a corporate venture investor in Colombia to make call centers better to places to work. PlayVox has developed a dashboard that is designed to make it more fun for call center workers to achieve their goals.

Healthy Ventures, an early-stage medical technology investor, has raised $10.7 million toward its inaugural fund, a regulatory filing said. Enmi Kendall, one of two founders and general partners at the newly launched San Francisco firm, said Healthy Ventures is still raising its fund, but declined to say what its target amount is.

LiveLoop, a San Francisco startup that developed a service to let people collaborate on PowerPoint documents, was acquired by Microsoft . A brief statement from Microsoft said the LiveLoop team will help Microsoft develop new collaboration tools across various Office applications. Terms of the deal weren’t disclosed.

Handy, a repair person booking startup, has raised $15 million from investors including TPG Growth and Ashton Kutcher’s new venture fund, Sound Ventures.

(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit http://on.wsj.com/DJPEVCNews, scroll to the bottom and click “try for free.”)

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Kleiner Perkins Prevails in Gender-Discrimination Trial. The much-watched gender-discrimination trial against Kleiner Perkins Caufield & Byers came to an end Friday when the jury found that the firm didn’t discriminate or retaliate against former junior partner Ellen Pao, The Wall Street Journal’s Jeff Elder reports. The long legal saga ended with a bizarre day in the courtroom, with one juror changing his vote mid-verdict. Venture investors and people who work in tech took to Twitter to weigh in on the case, including many who Continue reading "The Daily Startup: Redpoint Ventures is Raising a New Early-Stage Fund"

The Daily Startup: Dating Apps, Investors Continue to Connect

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Venture investors don’t appear to have yet fallen out of love with dating apps. The latest to pick up angel funding is JSwipe, a Tinder-like service that aims to connect young Jewish singles, Timothy Hay reports for Dow Jones VentureWire. The funding is the latest in a string of hookups between investors and companies.  Last month, Coffee Meets Bagel, which promises users a dating match within a day, raised $7.8 million, while The League, another dating application aimed at exclusivity, raised $2.1 million in February. In December, dating apps Happn and Hinge raised $8 million and $12 million, respectively.

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Aryaka, which provides networking in the cloud, raised $16 million led by Nexus Venture Partner. The round included current investors InterWest Partners, Mohr Davidow Ventures, Presidio Ventures and Trinity Ventures. The company’s valuation is more than $100 million.

NGM Biopharmaceuticals, which recently secured $200 million in equity and cash through an alliance with Merck & Co., said it has raised $57.5 million in Series D financing. Investors participating include return backers Column Group, Prospect Venture Partners, Tichenor Ventures and Topspin Partners. NGM held an initial closing in October and a final closing in February. The new investors in the Series D round are undisclosed.

Gelesis, a biotechnology company developing an oral capsule to induce weight loss, said it has closed a $22 million financing from undislcosed investors.

Venture fund news: Ignition Partners is raising up to $200 million for its next fund for investments in early-stage enterprise software companies…New investor Bespoke is seeking up to $150 million for first fund…Incubator AKT IP Ventures is targeting up to $20 million for new intellectual property fund.

(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit http://on.wsj.com/DJPEVCNews, scroll to the bottom and click “try for free.”)

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Slack’s Valuation More Than Doubles to $2.8 Billion in Five Months. The workplace collaboration tool Slack has lined up funding that values the startup at $2.76 billion, which is more than double the $1.12 billion it was valued five months ago, The Wall Street Journal’s Douglas MacMillan reports. The investors in the new round, accord to people familiar with the matter, include Institutional Venture Partners, Horizons Ventures, Index Ventures and DST Global. The round in expected to close within the next few weeks.

Meerkat Raises Funding as It Takes on Twitter’s Periscope. The live-streaming app Meerkat, which set Continue reading "The Daily Startup: Dating Apps, Investors Continue to Connect"