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Venture water, biotech investing and 2021’s carnage – TechCrunch

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Welcome to the world of work, friends, I hope you survived the return to the table in their favor and that you are both warm and healthy. The current boom in Corona virus cases is a huge mess, but perhaps this is the last year we will have to drag ourselves back to productivity under the ghost of closure, mass death and lack of hugs. I hope.

Regardless, today we have a lot of fun things that are supposed to take your mind off the state of the world for a few minutes.

Starting today, let’s talk about Liquid Death. The company with the excellent name Kills Thirsty with water, Hence its name. This is really the company in a nutshell. Liquid Death sells water in a can, a business around which it sewed an anti-plastic stand and a general heavy metal atmosphere. It’s neat.

But Liquid Death also raised $ 75 million this week, which makes me wonder why everything is so expensive to build these days. Why should a water company raise an entire pre-seed fund in one investment? What does it need the money for? Research? It sells water!

There was a general perspective a few years ago that it was cheaper than ever to build a start-up. With off-the-shelf software, cloud computing and the back end of modern fintech, assembling the building blocks of modern businesses has become faster and cheaper. Aside from the high costs of hiring software developers, it seemed that start-ups could do more with less.

and yet. Start-ups raise more money than ever. The stock market is diving into venture capital data next week, but it is clear that venture rates and start-ups are still transferring money with great pleasure. So much so that Liquid Death has raised more than $ 130 million to date, According to Crunchbase data.

Square the circle of lower operating costs, and mega-rotations for me if you can. Do we see marketing expenses raised through capital sources? If so, that’s a bit of a worry for me!

(Note that Liquid Death can be a blatant business with big profits and a charming economy; I do not know its numbers. But why does it need $ 75 million if it is in such good condition? What are we missing here?)

Rama raised money

From the depths of the document notes, a brief note on level. Level is a company I reviewed in February 2021. The company just closed a $ 1.5 million round for work we described as bringing “credit to employees who may not be able to leverage it from traditional sources, using their current income from freelance work to back up progress.”

It was a neat model, since asset-based loans over cash flow is a bit silly in a world where a lot of people work but do not live an asset-rich lifestyle. (This is a polite way to undo the NIMBY boom, of course).

In any case, Level has raised another round with the closing of 2021, this time a $ 7 million Series A. Anthos Capital led the raising, with NextView Ventures and other previous inventors also capturing cash. The capital came after the company increased its size by “10 times”, according to its data.

What I find most striking about Level’s news item is not that the company has raised more money – more so that its target is set to be super large. to all The company, It wants to build a “micro business operating system”.

I dig into this because small businesses are not the kind of companies that get a lot of attention from traditional financial institutions. Fintech should be, in my opinion, a method of applying technology to break down walls and bring more value to more people. Rama seems to be working in this direction, while also building a business ready for the venture. net!

PsyMed is raising a biotechnology fund

Following the news that a16z has raised $ 9 billion in new venture capital, growth and biotechnology investments, it is easy to forget that there are smaller funds in the market as well. And some are pretty new, actually.

In front of the biotech PsyMed Ventures It is engaged in raising a $ 25 million fund, the first closing of which ($ 8 million) is in the bank. I spoke with the group on Friday to delve a little deeper into their model.

First, basics. PsyMed has three investment partners: Dina Borkitbayeva, Greg Covin and Matthias Srebrinski. As you can understand from the first target of fund size, it will invest in the early side of things in the psychedelic medical field, along with some related fields. The group is not new to working together, having previously set up an investment group using AngelList technology to invest about $ 15 million so far.

Some thoughts on PsyMed. First, I wish we were expanding the boundaries of what we are testing for medical use. Arrogance in my homeland delayed this kind of work, to our detriment. Secondly, the field of investing in biotechnology interests me because the established companies become stock exchange much earlier than we tend to see, for example, in the enterprise software market. So you get to see more about companies, faster and more often.

For venture capitalists in biotechnology companies, it can also be an earlier liquidity option than is often seen in today’s unicorn era.

The conversation with Burkitbaeva, Kovin and Srebrinsky gave me the impression that we were approaching a meeting point in terms of regulatory, scientific and medical progress that could open up many new and orderly treatments for some sticky human matters. Things like PTSD, depression-resistant treatment and substance abuse disorder are my personal favorite.

All this means that I will keep an eye on where the group will launch its new fund and how quickly they can boost Pharma start-ups in the early stages to the public markets. Here’s for reading more S-1 biotechnologies this year and next, I guess!

weekend

And this is what I have in the meantime – do not forget it Equity Back to his normal pace three times a week next week, so I’ll talk to you in the podcast app of your choice in a short time! hugs!

Alex

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