Startup Researcher - North America and Israel: Week 46, 2024

November 11th - November 17th

Hello there,

Welcome to another edition of ๐Ÿ” Startup Researcher - North America and Israel, your essential digest delivering the latest news and premium insights on startups and venture capital across the region ๐ŸŒŽ๏ธ

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Let's delve into the core sections of our weekly newsletter:

  • ๐Ÿ“ฐ Important News

  • ๐Ÿ’ธ Top Funding Rounds

  • ๐Ÿ’ฐ๏ธ Notable Exits

  • ๐Ÿฆ About Investors

  • ๐Ÿ“‹๏ธ Curated Lists

  • ๐Ÿ“ˆ Deep Dive Bites

  • ๐ŸŽ™๏ธ Expert Insights

  • ๐Ÿค Diversity Spotlight

  • ๐Ÿš€ Startup Of the Week

  • ๐Ÿ’ผ Investor of the Week

  • ๐Ÿค‘ Opportunity Radar

๐Ÿ“ฐ Important News

  • Bluesky reported over 1 million sign-ups in 24 hours last week, surpassing 16 million users, amidst a surge fueled by recent political events.

  • CyberArk has partnered with Wiz to enhance multi-cloud security by integrating their platforms, addressing the complexity of cloud environments.

  • 23andMe is laying off 40% of its workforce and discontinuing its therapeutics business as part of a restructuring plan.

  • The Tel Aviv District Court rejected Nadav Shoval's request for an injunction against his removal as CEO of OpenWeb.

  • Haliey Welch, known for her viral "Hawk Tuah" video, has launched Pookie Tools, an AI-powered dating app.

๐Ÿ’ธ Top Funding Rounds

  • Wonder raised $250 million in funding from new investors to support its acquisition of Grubhub.

  • Metsera secured $215 million in Series B funding to accelerate its GLP-1 weight loss drug pipeline, including the phase 2 study of MET-097.

  • Writer raised $200 million in a Series C round, to expand its enterprise-focused AI platform and enhance mission-critical business applications.

  • Firefly Aerospace closed an oversubscribed $175 million Series D round, led by RPM Ventures, to expand its responsive space services.

  • Skydio raised an additional $170 million in a Series E extension, with investors like KDDI and Axon, as it diversifies into defense and enterprise.

๐Ÿ’ฐ๏ธ Notable Exits

  • Just Eat Takeaway is selling Grubhub to Wonder Group for $650 million, a 91% loss from its original purchase price, with the deal closing in 2025.

  • Bitsight acquired Israeli cybersecurity startup Cybersixgill in a $115 million deal to enhance its AI-powered cyber risk management solutions.

  • JobGet acquired Snagajob, creating the largest U.S. platform for hourly workers with 100 million potential users.

  • Cloudera acquired Israeli data analytics startup Octopai to enhance its data, analytics, and AI offerings across multi-cloud and on-premises environments.

  • Red Hat acquired Neural Magic to strengthen its hybrid cloud AI offerings with open-source tools like vLLM.

๐Ÿฆ About Investors

  • Altos Ventures, a Silicon Valley VC firm that backed companies like Roblox and Coupang, has raised a $500 million fund, its largest to date.

  • SoftBank Vision Fund co-CEO Rajeev Misra is stepping down from his roles at SoftBank Investment Advisers and SoftBank Global Advisers.

  • Angel investor Hannah Bronfman announced plans to launch her own fund focused on overlooked founders.

  • Pender Ventures closed its second fund at $71 million, focusing on early-stage B2B software and healthtech startups across Canada.

  • Richa Mehta has joined Toronto-based VC firm Radical Ventures as a San Francisco-based partner to help lead the firm's new $800 million growth fund.

๐Ÿ“‹๏ธ Curated Lists

Montrealโ€™s venture capital ecosystem is a driving force behind the cityโ€™s rise as a global innovation hub. Home to leading investors like Inovia Capital and Real Ventures, with portfolios spanning AI, life sciences, and fintech, these firms provide startups with the funding, mentorship, and resources needed to thrive. Companies like Nomic, Enerkem, and Nesto have flourished under their support, showcasing the cityโ€™s potential for groundbreaking innovation. Delve into the full article to explore the complete list of Montrealโ€™s top VC firms.

๐Ÿš€ Startup Of the Week

Introducing our Startup of the Week ๐Ÿ†

Wonder

Wonder, founded by Marc Lore in 2018, is a food delivery platform offering a unique multi-restaurant ordering system, featuring exclusive collaborations with top chefs and restaurants. Recently, the company secured $250 million in funding from new investors to support its growth and enhance its offerings. This investment comes as Wonder continues to expand its reach and revolutionize the food delivery landscape with high-quality, fast, and diverse meal options. Alongside the funding Wonder is acquiring Grubhub for $650 million, comprising $500 million in senior notes and $150 million in cash, to integrate its services and expand its capabilities.

๐Ÿ’ผ Investor of the Week

Altos Ventures

Introducing our Investor of the Week ๐Ÿ†

Altos Ventures

Altos Ventures, a Silicon Valley-based venture capital firm founded in 1996 by Han Kim and Ho Nam, has raised a $500 million fund, marking its largest to date. The firm, known for backing high-growth, founder-led companies such as Roblox, Coupang, and PandaDoc, specializes in early-stage investments, particularly in SaaS, cloud-based business software, and consumer mobile applications. With more than $7 billion in assets under management, Altos Ventures has invested in over 250 companies, with several going public or being acquired by publicly traded firms. Despite the challenging venture landscape, Altos Ventures continues to attract substantial capital, signaling confidence in its strategy of focusing on select, early-stage startups.

๐Ÿค‘ Opportunity Radar

Apply to the Techstars San Francisco accelerator program by Nov 20nd, 2024, and accelerate your startup in one of the worldโ€™s leading entrepreneurial hubs. With a focus on Deep Tech, AI, and Enterprise SaaS, this in-person program offers funding, mentorship, and access to a powerful network of investors and industry experts. Starting in Mar 10th, 2025, Techstars provides the resources and guidance to help you scale your business and refine your product. Donโ€™t miss your chance to join a dynamic community of founders and innovatorsโ€”begin your application process today!

Thank you for joining us this week! We trust you found value in our latest edition. ๐Ÿš€

Your feedback is invaluable to us, so please don't hesitate to share your thoughts by replying to this email. We're committed to continuously improving and delivering content tailored to your interests and needs ๐Ÿ“ฉ

If you're interested in staying updated on the latest trends, startups, and investments in other regions, don't miss out on:

  • ๐ŸŒ Startup Researcher - Africa: Delve into Africa's thriving ecosystem, uncovering cutting-edge trends, emerging startups, and investment opportunities.

  • ๐ŸŒ๏ธ Startup Researcher - Asia Pacific: Discover the latest innovations and startups in the Asia Pacific region, covering key markets, investment movements, and emerging tech hubs.

  • ๐ŸŒ Startup Researcher - Europe: Stay updated on Europe's innovation scene, featuring insights into groundbreaking startups, investment trends, and entrepreneurial developments.

  • ๐ŸŒŽ๏ธ Startup Researcher - Latin America: Keep track of Latin America's fast-growing startups, investment trends, and disruptive technologies driving economic growth.

  • ๐ŸŒ Startup Researcher - Middle East: Explore the dynamic landscape of the Middle East, with comprehensive coverage of startups, entrepreneurial endeavors, and venture capital trends.

Additionally, stay connected with us on LinkedIn for more insights and updates ๐Ÿ”—

Looking forward to staying connected and bringing you more exciting content next time!