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Support for the AAPI Community 💪

Support for the AAPI Community 💪
March 24, 2021

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
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On Friday’s The Daily Stack, we spoke out against the recent attacks and the racism perpetrated on Asian-Americans, which have sharply increased as a result of the pandemic. Last week’s tragic deaths of six Asian Americans, resulting from mass shootings that occurred in three spas in Atlanta, serve as a rude awakening of the consequences resulting from a history of silencing, stereotyping, and microaggression towards the Asian American and Pacific Islander (AAPI) communities.

As it is with the funding of minorities, funding for Asian-led startups is often overlooked. According to PrivCo’s report on Funding Diversity in 2020, minority-led startups raised only 1.2% of the total funding raised in 2020. The companies who participated cover only 1.4% of the total number of companies and within this small percentage is an even small percentage that are AAPI-led. 

To give our support and show solidarity, we spotlight some Asian-founded startups and urge our readers to give support to AAPI communities as well as other minority-led organizations. 

Spotlight Companies

🛒 Weee is a grocery delivery service focused on Asian and Hispanic groceries. It just received mega-round funding of $315MM to scale its service amidst the boom of online grocery delivery. The company was founded by Larry Liu.

🧬 Verge Genomics is a biotechnology startup that aims to develop next-generation medication from human genomics to prevent neurodegenerative diseases. The startup was founded by Alice Zhang and Jason Chen. 

🏛 FiscalNote is a software company that provides solutions for government affairs to help manage key issues and track legislation. The company was founded by Gerald Yao, Jonathan Chen, and Tim Hwang

💻 Run the World is a virtual events startup that encompasses everything from ticketing, video conferencing, interactivity, and networking. The company was founded by Xiaoyin Qu and Xuan Jiang.

🧥 M.M. LaFleur is a fashion company that focuses on wardrobe solutions for professional women. It was founded by Miyako Nakamura, Narie Foster, and Sarah LaFleur. 

👟 GOAT Group is a marketplace focused on selling authentic sneakers, apparel, and accessories. The company was founded by Daishin Sugano and Edward Lu.

🛒 Boxed is an e-commerce food delivery company focused on bulk and wholesale products. It was founded by Chieh Huang.

🔍 Amplitude is a SaaS startup that offers a behavior analysis tool for companies to understand their customer behavior and include their digital product experience. The company was founded by Spenser Skates, Curtis Liu, and Jeffrey Wang. 

📩 Iterable is a SaaS startup that helps companies market and engages with their customers through an omnichannel marketing platform. It was founded by Andrew Boni and Justin Zhu.

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Since last week, PrivCo has added:
282 Companies | 197 Funding Activities | 96 M&A Deals

Funding & Deal Highlights:

goPuff raises $1.15BN
Grocery Software & Internet Services • Round G • Philadelphia, PA

Orca Security raises $210MM co-led by CapitalG and Redpoint Ventures
Cyber Security Software & Internet Services • Round C • Los Angeles, CA

Evidation Health raises $153MM co-led by Kaiser Permanente Ventures and OMERS Private Equity
Market Research Software & Internet Services • Round E • San Mateo, CA

Komodo Health raises $220MM led by Tiger Global Management
Software & Internet Services • Round E • San Francisco, CA raises $100MM led by Viking Global Investors
Identity Management Software & Internet Services • Equity • Mc Lean, VA

Side raises $150MM from Coatue Management
Real Estate • Equity • San Francisco, CA

Rising Team raises $3MM led by Female Founders Fund
Sports Software & Internet Services • Seed • Palo Alto, CA

Mediar Therapeutics raises $20MM led by Mass General Brigham Ventures
Biotechnology • Seed • Cambridge, MA

OctoML raises $28MM led by Addition
Technology Services • Round B • Seattle, WA

Republic raises $36MM led by Galaxy Interactive
Brokerage Software & Internet Services  • Round A • New York, NY

Harmonize raises $10MM led by Launchpad Digital Health
Health Care Services • Round A • San Mateo, CA

Unagi Scooters raises $10.5MM led by Ecosystem Integrity Fund
Consumer Products • Round A • Oakland, CA

Happify raises $73MM led by Deerfield Management
Mental Health Software & Internet Services • Round D • New York, NY

Workchew raises $2.5MM led by Harlem Capital Partners
Technology Services • Seed • Washington, DC

Cylera raises $10MM co-led by Concord Health Partners and Maverick Ventures
Health Care Software & Internet Services • Round A • New York, NY

OpenReel raises $19MM
Digital Media AI Software & Internet Services • Round A • New York, NY

Noon Energy raises $3MM led by Prime Impact Fund
Renewable Electricity & Fuels • Seed • Palo Alto, CA

Velo3D merges with JAWS Spitfire Acquisition Corp for $1.6BN
Commercial Products & Office Supplies • SPAC • Santa Clara, CA

UiPath acquires Cloud Elements
API Software & Internet Services • Acquisition • Denver, CO 

Singapore Technologies Engineering makes a bid to acquire Cubic Corporation for $2.41BN
Industrial Products • Acquisition • San Diego, CA

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