Could this IPO draw investors’ gaze back to beauty startups?

July 17, 2023

Hi, Didong. Beauty is a pretty unattractive area for startup investors lately, with venture funding in the category down more than 50%. But over in IPO-land, a different story is playing out. Let’s take a look.

💄 Hot startup’s IPO could make beauty investment attractive again

Oddity Tech, an Israel-based direct-to-consumer cosmetics and self-care products provider, is set to go public later this month in a Nasdaq offering with a target valuation around $1.7 billion. Its IPO comes as VC investment in beauty startups has faltered. It probably helps that the company’s financials are easy on the eye.

🪓 Deep cuts keep coming

It wasn’t the worst week we’ve seen for tech layoffs, but all in all, at least 16 companies cut U.S. tech jobs last week, per the Crunchbase Tech Layoffs Tracker. Several of them cut very deep — including one company that reportedly slashed almost two-thirds of its workforce.

🩺 10 biggest funding deals: Biotech and health reign

More than half of last week’s 10 largest U.S. startup funding deals went to companies in the biotech and health spheres.

💰 Obesity startup scooped up for $1.9B

Pharma giant Eli Lilly said Friday that it’s buying Versanis Bio, a startup developing drugs with applications in obesity treatment, in a deal valued at up to $1.93 billion. Versanis is one of a number of recently funded startups working on treatments for obesity and to promote weight loss.

🔍 What revenue multipliers tell us about a tech recovery

In late 2021, we witnessed an alarming surge in revenue multipliers, with a median of 34 and an average of 72. Now a different narrative is emerging, writes startup consultant Itay Sagie after doing an analysis of more than 5,400 software-related M&A deals on Crunchbase.

Crunchbase ROI Calculator See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data. Calculate

Recent Investments

Verkor

600M EUR / Grant

Verkor manufactures low-carbon batteries, targeting the electric mobility markets in Europe.

Categories:

Battery • Electronics • Industrial • Manufacturing

Founders:

Benoit Lemaignan, Christophe Mille, Philippe Chain, Sylvain Paineau

Investors:

European Investment Bank (Lead)

Caribou Biosciences

$125M / Post-IPO Equity

Caribou Biosciences is a biotechnology company that develops CRISPR technologies and allogenic cell therapies for oncology.

Categories:

Biotechnology • Health Care • Therapeutics

Founders:

James Berger, Jennifer Doudna, Rachel E. Haurwitz

Blocktrade

$10M / Venture Round

Blocktrade is a digital asset platform to buy and sell Bitcoin, Ethereum, eCredits, and other cryptocurrencies.

Categories:

Bitcoin • Blockchain • Cryptocurrency • Financial Exchanges • Financial Services • FinTech

Founders:

Luka Gubo

Investors:

ABO Digital (Lead)

More Fundings

Company	Amount / Round	Lead Investor
FREYR	100M EUR / Grant	European Union
Simbe Robotics	$28M / Series B	Eclipse Ventures
Bushel	$26M / Venture Round	-
MerQube	$22M / Series B	Intel Capital
Greenbrook	$4.4M / Post-IPO Equity	Alumni Capital LP
ZenWTR	$1.5M / Venture Round	-
Greyparrot	$500K / Venture Round	Amcor Corporate Venturing and Open Innovation
All Recent Funding Activity