The Wrap 4 September – Our Weekly Round-up of Funding News
Hello and welcome to The Wrap, a quick look at the week that was, I’m Diana Dorahy.
Thank you to all those who registered and attended the La French Tech x Next Chapter Raise panel yesterday about tackling the huge issue of eliminating gender bias in the workplace. There were a lot of takeaways about how to better handle it at all points along the funnel, how to understand and prevent unconscious bias and what effective support to female-led businesses looks like.
A full summary will be published next week in our newsroom so if you missed it, you can check out the highlights there.
In funding news this week…
Demodesk, an early stage-startup and Y Combinator grad has announced an $8 million Series A round. Co-founded by Veronika Riederle, Demodesk is a platform designed to deliver online sales demos remotely. Talk about a Covid-benefit business.
Indian food delivery startup Zomato has raised $62 million from Temasek,
Transposit – a company built by engineers to help engineers, by getting systems up and running faster when things go wrong has secured a $35 million Series B round. Founder and CTO, Tina Huang sees technology issues as less an engineering problem and more as a human problem, because it’s humans who have to clean up the messes when things go wrong. Huang says forgetting the human side of things is where she thinks technology has gone astray.
And Carewell, which provides a platform for caregivers has announced a $5 million seed round. Started by a husband and wife team in the U.S., the platform provides a whole range of products and services for informal caregivers to look after their loved ones from medical supplies to care education. No surprises they’ve had a big spike this year.
My story of the week this week….
Goes to a piece about how to close the gender gap in venture capital.
This was pretty EU focused but there were some points that should resonate globally. It talks about the European Investment Bank and the fact that it’s now adopted a strategy on gender equality and women’s economic empowerment.
Their goal is to identify innovative and high-growth female-led companies, then provide advice and financing options and facilitate connections with other market players.
There was also a great piece this week about the rise of femtech.
One of the investors says that no matter what product you have, if you are not thinking about three things; equitability, affordability and accessibility, it’s not going to last very long. No point in developing a product that can’t be reached by those who need it most.
My tip of the week this week….
Comes from a powerful piece from our founder, Nicole about timing your raise.
Unfortunately, when it comes to capital raising, women typically raise later, raise less and it takes them a lot longer than their male counterparts. And if that isn’t disappointing enough, women also bootstrap to avoid raising debt.
She says the key to changing these seemingly entrenched facts is both simple and complex: women need to understand the benefits of fundraising and capital raise much earlier. Check out the different options by reading her piece in the newsroom.
Coming up next week on Next Chapter Raise…
Nicole and I are going to be doing another live Q&A all about the European Investment Bank report about funding women entrepreneurs. We’ll go through the latest trends and recommendations so keep an eye on social for that.
Until then, have a great weekend and see you next time on The Wrap.