Pathalys Pharma Lands $150M; Impel Drives Away With $104M

Want to track the biggest seed funding deals in 2023 with our newly curated list of VC deals over $100M with US-based companies? Check out our new Megadeals Tracker here.

This is a weekly feature that features the top 10 announced funding rounds of the week in the United States. Check out the biggest funding rounds from the past week here.

After a good start to the year, this week has slowed down. No round came close to $200 million and only three rounds reached the $100 million mark. Health care and biotechnology were again important, as well as a startup that uses AI (it’s everywhere) to help people buy a car.

1. Pathalys Pharma, $150 million, biotechnology: Raleigh, North Carolina-based Pathalys Pharma is the latest healthcare/biotech startup to raise a big round this year. The late-stage biopharmaceutical startup raised $150 million through what it called “a combination of secured product and equity funding to support the two Phase 3 clinical trials, registration efforts and business pre-marketing for upacicalcet” – which is used to treat hyperparathyroidism. Abingworth was the lead investor. Simultaneously, the company and Launch Therapeutics also announced a collaboration to advance phase 3 clinical trials of the drug. Founded in 2021, Pathalys has raised $150 million to date, according to the company.

2. Impel, $104 million, automotive: AI is everywhere right now, so why not buy a car? New York-based digital engagement startup Impel has landed $104 million in growth investments led by Silversmith Capital Partners with additional investment from Wavecrest Growth Partners. The startup offers an AI-powered customer engagement platform for the automotive industry. Impel claims to have played a role in car sales worth $2 billion since its inception in 2011. With so much data being generated about buying cars – especially with so many online car purchases – Impel is able to use artificial intelligence to target customers with personalized messaging. Founded in 2011, the company has raised $130 million, according to Crunchbase.

3. Factory, $100 M, environmental consultation: Mill was founded in 2020 by former Nest alumni, smart home darlings. The San Bruno, Calif.-based startup is on a mission to eliminate all trash and, in an effort to do so, is asking people to purchase a $33 monthly subscription for a 2-foot-tall kitchen trash can. top that “dries, shrinks and sanitizes”. as Bloomberg reports. That same report also revealed Mill had raised multiple funding rounds from investors including Breakthrough Energy Ventures and Energy Impact Partners, and had raised more than $100 million — but wouldn’t release an exact dollar figure.

4. SetPoint Medical, $80 million, healthcare: Another health-related company ranks in the top 5. Valencia, CA-based clinical-stage healthcare startup SetPoint Medical has raised $80 million in preferred equity financing co-led by new investors Norwest Venture Partners and Viking Global investors. The Company is developing a treatment for chronic, inflammatory-mediated autoimmune diseases, with a focus on the treatment of rheumatoid arthritis. Founded in 2006, the company has raised $344 million, per Crunchbase.

5. Vannevar Labs, $75 million, national security: Defense startups seem to be having a moment. Drone companies that contribute to national security have recently raised funds, and late last year Anduril locked in a Series E worth nearly $1.5 billion that values ​​the company at $8.5 billion. That nearly doubles the company’s previous valuation in June 2021. Palo Alto, Calif.-based national security technology developer Vannevar Labs is the latest after raising a $75 million Series B led by Felicis 1. Founded in 2019, Vannevar Labs has now raised over $90 million, per company.

6. Outrider, $73 million, logistics: Golden, Colo., Outrider, a software developer that enables autonomous yard operations for logistics centers, closed a $73 million Series C financing led by FM Capital. Founded in 2017, Outrider claims to have raised $191 million to date.

7. Cloudian, $60 million, cloud storage: San Mateo, Calif.-based cloud storage startup Cloudian has closed a new $60 million funding round from multiple investors including Intel Capital and Silicon Valley Bank. Founded in 2011, Cloudian has now raised $233 million, according to the company.

8. ADARx Pharmaceuticals$46M, biotechnology: San Diego-based ADARx Pharmaceuticals, a clinical-stage biotech startup developing RNA-targeting therapies, raised a $46m Series B-1 led by Capital of Ascenta. Founded in 2019, the company has raised $132 million to date, according to Crunchbase.

9. MacroFab, $42M, manufacturing: Houston-based cloud manufacturing platform developer MacroFab has raised $42 million under Foundry’s leadership. Founded in 2013, MacroFab has raised a total of $82 million per company.

ten. Sublime Systems, $40m, energy: Somerville, Massachusetts-based Sublime Systems, a decarbonized cement developer, has closed a $40 million Series A led by Lowercarbon Capital. This is the company’s first funding, according to Crunchbase.

big world business

Despite some big rounds of US-based startups this week, the top three all came from overseas.

• PhonePe, an India-based mobile payment app, raised a $350 million seed round.
• Chinese company GenScript ProBio, a biopharmaceutical R&D and manufacturing platform, raised $220 million in Series C.
• London-based electric vehicle maker One Moto has closed a venture capital round worth around $152 million.

Methodology

We’ve been tracking the biggest rounds announced in the Crunchbase database that were raised by US-based companies for the seven-day period from January 14-20. Although most of the advertised tours are represented in the database, there might be a small lag as some of the tours are posted on weekends.

Illustration: Dom Guzman