Another unicorn down round

Plus, VCs are investing in … concrete?

July 25, 2023

Hi, Didong. I bet you haven’t given much thought to concrete lately. Concrete isn’t sexy — after all, this is literally the mortar in “brick and mortar” — but it is ubiquitous, with an estimated 10 billion-plus tons of the stuff produced annually. We explore why climate-focused investors are taking an increasing interest in cleaner concrete.

👷 Clean-concrete startups cement their status

Concrete is big business — it’s an estimated $440 billion-plus global industry — but it’s also the quintessential infrastructure-heavy, capital-intensive industrial sector that startup investors typically like to avoid. But with an estimated one-tenth of annual global CO2 emissions coming from construction and building materials, investors have poured hundreds of millions into startups like CarbonBuilt and Prometheus Materials that are working on reducing the carbon footprint of concrete.

Related Crunchbase Pro list: Clean Concrete-Focused Recently Funded Companies

✂️ Privacy unicorn’s valuation docked even as it scores $150M

OneTrust, a privacy management startup, raised $150 million in a new round led by Al Gore’s investment firm. The new funding gives OneTrust a $4.5 billion valuation — lofty, to be sure, but also a 12% decline from its previous valuation. The deal points both to continued interest in privacy and compliance software, and persistent private market melancholy.

😣 3 mistakes VCs make in pitch meetings with immigrant founders

The U.S. is undermining its own potential and jeopardizing its future as a global leader in innovation by overlooking immigrant startup founders, argues Semyon Dukach of One Way Ventures. He offers up three mistakes he’s noticed his fellow VCs make in pitch meetings that lead to promising founders with immigrant backgrounds slipping under their radar.

🏅 Top 10 deals: Dentists, undies and enterprise software

Three U.S.-based startups landed nine-figure raises last week — and for a change, none of them had anything to do with AI or biotech. Here’s a closer look at 10 companies that raised sizable funding deals last week.

🪓 Have tech layoffs peaked?

As of mid-year, more than 150,000 tech workers in the U.S. had lost their jobs, per The Crunchbase Tech Layoffs Tracker. We’ve seen numerous startups shut down completely, laying off their entire staff. Other companies — we’re looking at you, Microsoft and Amazon — have become repeat offenders on our tracker. But is the wave of layoffs slowly subsiding?

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Recent Investments

Keywords Studios

$400M / Post-IPO Debt

Keywords studios provides creative and technical services to the video game industry.

Categories:

Audio • Content • Digital Media • Video Games

Founders:

Giorgio Guastalla

OVO Energy

200M GBP / Private Equity Round

OVO Energy is an independent energy supplier that provides gas and electricity services to residential and business customers.

Categories:

Energy • Energy Efficiency • Renewable Energy

Founders:

Stephen Fitzpatrick

Investors:

Mayfair Equity Partners, Morgan Stanley Investment Management

HighPeak Energy

$151M / Post-IPO Equity

HighPeak Energy is an oil and natural gas company that focuses on exploration and development of oil and natural gas reserves.

Categories:

Energy • Natural Resources • Oil and Gas

More Fundings

Company Amount / Round Lead Investor
Federal Bank 9.6B INR / Post-IPO Equity International Finance Corporation
bunq 44M EUR / Venture Round Pollen Street Capital
Impulse Space $45M / Series A RTX Ventures
Foodology $17M / Venture Round -
Sojern $9.8M / Venture Round -
Solace 10M CAD / Grant National Research Council of Canada Industrial Research Assistance Program
FreeD Group Unknown / Series C -
All Recent Funding Activity

Recent Acquisitions

Simply Self Storage

Pending acquisition by Public Storage for $2.2B

More Acquisitions

Company Acquired By Amount
Chase Corporation Kohlberg Kravis Roberts $1.3B
All Recent Acquisition Activity

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