Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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China’s Manbang reportedly plans US IPO filing
China-based Manbang, a truck-hailing platform that matches shippers with drivers and fleet operators, could file publicly as early as this week for a U.S. public offering that could value the company at up to $30 billion, according to a CNBC report citing unnamed sources.
The company, also referred to as the Full Truck Alliance, could reportedly raise around $1.5 billion through the offering. Most recently, the company raised $1.7 billion in a November round backed by Fidelity, Permira, Sequoia Capital China and the SoftBank Vision Fund.
Ethos raises $200M for life insurance
Life insurance provider Ethos reportedly pulled in $200 million in a fresh funding round led by General Catalyst. The financing sets a valuation of around $2 billion for the San Francisco-based company, which pitches itself as a simpler, more flexible option for securing life insurance compared to traditional carriers.
Founded in 2016, the company previously raised $109 million in funding with backers including Sequoia Capital, Google’s GV and Accel, per Crunchbase data.
— Joanna Glasner
Funding rounds
Zencargo snags $42 million: London-based Zencargo, a 4-year-old startup that provides digital logistics services for freight forwarding, raised $42 million in a Series B round led by Digital+ Partners.
— Joanna Glasner
Health care and wellness
Nuvalent closes $135M: Nuvalent, a Cambridge, Massachusetts-based biotechnology company, secured $135 million in Series B funding led by Bain Capital Life Sciences. Nuvalent creates precisely targeted treatments for clinically proven kinase targets in cancer. The new funding will support clinical advancement of two of its treatment programs.
Remedy Health raises $11M: Remedy Health, the company behind the Nourished brand of personalized gummy vitamins, announced $11 million in Series A funding from a group of backers that included ADM Ventures. The new funding brings the U.K.-based company’s total value to more than $71.6 million, according to Remedy.
GEM inks $10.5M: Consumer life science company GEM raised $10.5 million in seed financing led by CircleUp Growth Partners. The Los Angeles-based company is designing a next-generation nutritional system of whole food bites that contain superfoods, essential nutrients and vitamins, as well as probiotics to improve whole body health at a cellular level.
Qnami secures $4.4M: Qnami closed on a $4.4 million Series A funding round co-led by Runa Capital and SIT Capital. The funds will support extension of Switzerland-based Qnami’s patented quantum microscope technology.
— Christine Hall
Cybersecurity
Arkose Labs closes $70M Series C: San Francisco-based online fraud and abuse prevention company Arkose Labs closed a $70 million Series C led by SoftBank Vision Fund 2, with participation from Wells Fargo Strategic Capital and previous investors M12 and PayPal Ventures. The cybersecurity company has now raised a total of $114 million to date.
The company expects to use the new funding to continue to develop its platform, add to its headcount and expand globally.
— Chris Metinko
Illustration: Dom Guzman
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://news.crunchbase.com/news/briefing-5-11-21/
