Funding & Deal Highlights:
DoorDash is close to getting more funding that would value it at over $15B pre-money, according to The Wall Street Journal. The meal delivery company reportedly plans to sell equity to existing backers T. Rowe Price, Fidelity and others. SoftBank's Vision Fund is also reportedly weighing whether to participate. DoorDash filed for an IPO in February before the coronavirus pandemic shook the financial markets.
Pinwheel is the API platform for income verification that every fintech and neobank needs.
MycoTechnology, which transforms mycelia into functional ingredients like alternate protein, announces this week that it has raised a $39M Series D round of funding. Food Navigator first reported the news and wrote that the round was co-led by Greenleaf Foods, SPC, S2G Ventures, and Evolution Partners, with Tyson Ventures, Kellogg’s Eighteen94 Capital, and others participating. This round brings the total amount raised by MycoTechnology to $121M.
Reata Pharmaceuticals is readying its lead drug, a potential treatment for a rare, genetic form of chronic kidney disease called Alport syndrome, for an FDA filing this year. New York private equity giant Blackstone Group, via its newly flush life sciences investment arm, is betting $350M that the treatment will be a big seller for Alport and related indications.
TeleVet provides boost to veterinary telemedicine with $5M Series A.
Origin, a 1-year-old San Francisco-based company led by Matt Watson, is among the newest entrants to make the case for personal finance tech. Freshly backed by $12M in funding led by Felicis Ventures, with participation from General Catalyst, Founders Fund and early Stripe employee Lachy Groom, among others, Origin wants to become the place where employees can track financial milestones, get professional advice from licensed financial planners, and take action on their personal P&L, whether paying down student debt, building emergency savings, or finding the right home and automotive insurance.
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, announces the sale of its client, Aftersort, Inc. to FMH Conveyors (a Duravant Company). The acquisition closed June 1, 2020, and details were not disclosed.
Semiconductor design company Synopsys acquires analytics company Qualtera, which focuses on analysis of semiconductor design and manufacturing. Terms of the deal were not disclosed, but Synopsys said the transaction was not material to its financials.
Based in New York City, Kinderhook Industries LLC announces the recapitalization of Axis, Alabama-based EcoSouth Services of Mobile LLC in partnership with EcoSouth CEO Jeff Claunch, a waste industry veteran with more than 30 years of experience. EcoSouth represents Kinderhook’s 10th environmental services platform since inception and 47th transaction in the space. Financial terms of the transaction were not disclosed.