📅 [1/11/21 -1/24/21] DWDG Bi-Weekly Digest #14

👋🏽 Welcome to Doing Well by Doing Good, a newsletter and podcast series highlighting the companies aiming to be profitable with a purpose. Get the latest updates

Happy Sunday (from this cute rabbit)! Here we are again with another Digest fresh off the presses.

I’m trying out this biweekly cadence instead of the weekly one to enable some space for other pieces our upcoming Podcasts and analyses on companies. Let me know what you think! Read below for the latest 😀

DWDG News

• Social Enterprise Greenhouse (SEG), an organization out of Rhode Island is seeking applicants for its virtual Spring 2021 Virtual Impact Accelerator Program.
• Fast Company did a great piece last week on big business funneling dollars to sustainable social enterprises rather than unsustainable donations, which don’t take a long term view. Read more here
• Brands for Good, a Singapore based organization, recognizes businesses that are making a positive social or environmental impact especially through COVID-19.

DWDG Fundings

EQRx, a 1.5-year-old, Cambridge, Ma.-based startup that made waves last year when it announced a plan to develop new medicines that would sell at cheaper prices than existing high-priced drugs, has raised $500 million in Series B funding, bringing its total funding to $750 million. The company did not name who invested in the new round; earlier investors include GV, Arch Venture Partners, Andreessen Horowitz, Casdin Capital, Section 32, Nextech and Arboretum Ventures. [ STAT Report]

• Doing Good: EQRx is one of the first pharmaceutical company we have included here because its key mission is to lower the cost of drugs rather than simply develop a new method. Lowering drug prices for vulnerable cancer patients is key to expanding access to care.

Alula, a year-old, New York-based online resource hub intended to support both cancer patients and their friends and family throughout their treatment, has raised $2.2 million in seed funding. Bonobos founder Andy Dunn led the round, joined by Metrodora Ventures, BBG Ventures, Thrive Capital, Village Global, and Homebrew. [ TechCrunch Report]

• Doing Good: Alula’s product helps create a community to directly improve outcomes for cancer patients through their caregiver application

Daystar Power, a 3.5-year-old, Lagos, Nigeria-based solar energy company, has raised $38 million in Series B, mostly from development finance institutions led by Denmark’s Investment Fund for Developing Countries. The company has now raised $48 million to date.

• Doing Good: Daystar Power aims to create a cheaper and cleaner alternative to current power sources in Africa, expanding access to power to those in need of it while contributing to reduced greenhouse gas emission.

Lex, a 3.5-year-old, New York-based marketplace lets both accredited and unaccredited investors obtain minority positions in commercial real estate properties through single-asset IPOs, according to the company, has raised $6 million in new funding. Backers include Greycroft, Callahan Family Investments, Kawawa Capital, and Subversive Capital, among many others. [Crunchbase Report]

• Doing Good: Lex creates new opportunities for those with $250 or more to spare to now have access to commercial real estate projects and make returns on those, where previously these were only open to accredited or high net worth individuals.

Imperfect Foods, a 5.5-year-old, San Francisco-based online food marketplace aimed at reducing food waste, has raised $95 million in Series D funding at a $700 million post-money valuation co-led by Insight Partners and Norwest Venture Partners. [ Bloomberg Report]

• Doing Good: Imperfect Foods, famous for bringing perfectly edible food that previously would be thrown away, ensures increased efficiency of food usage along with reducing the cost of food in the process.

CropIn, a 10-year-old, Bengaluru, India-based agricultural data company, raised $20 million in Series C funding led by ABC World Asia, with participation from Chiratae Ventures, Invested Development and Ankur Capital. [ The Economic Times Report]

• Doing Good: CropIn enables farmers especially in developing nations increase their yield, reduce wastage, and thereby maximize and increase and stabilize their earnings over time creating a more stable life for them and their families.

Brigit, a four-year-old, New York-based maker of a budgeting and cash-advance app that aims to help its customers circumvent overdraft fees, has raised $35 million in Series A funding. Lightspeed Ventures led the round, joined by DCM, Nyca, Canaan, and 10 other firms. [Forbes Report]

• Doing Good: Brigit’s product enables customers vulnerable due to excessive overdraft fees due to tight budgets to have a more accessible financial products that aren’t predatory.

Aledade, a seven-year-old, Bethesda, Md.-based network of accountable care organizations, has raised $100 million in Series D funding. Earlier backer Meritech Capital Partners led the round, joined by Tiger Global Management, IVP and another earlier investor, OMERS. The company had raised $64 million in Series C funding last spring.

• Doing Good: Aledade’s network of ACO’s and platform in 2018 saved Medicare over $69 Million and improved care for over 300,000 beneficiaries and continues to do that today and grow those numbers helping the Medicare and Medicaid patients who it most.

Xampla, a 2.5-year-old, U.K.-based spin-out from the University of Cambridge, has raised £6.2 million in seed funding to turn its natural, compostable plant-protein alternative into a replacement for microplastics and single-use plastics. The funding was led by Horizon Ventures and follows a £2 million investment round in April of last year. [ Sifted Report]

• Doing Good: Xampla’s product directly aims to replace unsustainable single-use plastics increasing recyclability and biodegradability and thereby reducing greenhouse gas emissions from landfills.

Air Protein, a nearly two-year-old, Berkeley, Ca.-based startup that develops protein-enriched food via microbes rather than plants or animals, has raised $32 million in Series A funding from ADM Ventures, GV, Barclays and Unreasonable Collective. [Food Navigator Report]

• Doing Good: Air Protein, much like other alternative meat companies, reduces greenhouse gases by replacing meat production, but goes one step further by developing food via microbes rather than plants preventing ecological destruction as well.

Volta, the nearly 11-year-old, San Francisco-based developer of a network of electric vehicle charging stations that monetize using advertising, has raised $125 million in new funding from a group of investors it’s apparently choosing not to name this time around. The Series D round brings Volta’s total funding to more than $200 million, says the company, whose network of stations that are located in parking lots around grocery stores, pharmacy chains, banks and hospitals. [ TechCrunch Report]

• Doing Good: Volta’s product is disrupting typical electric charging business models by expanding access to electric vehicles to those typically unable to justify the overall cost . The larger their network of free chargers, the more affordable electric cars become expanding the total number of electric vehicles and reducing greenhouse gases as a result.

Multiverse, a nearly five-year-old, London-based startup that works with organizations to develop apprenticeships in tech and other knowledge work, then helps source candidates to fill their job openings, has raised $44 million in Series B funding led by General Catalyst. Other investors in the round include GV, Audacious Ventures, Latitude, SemperVirens and earlier backers Index Ventures and Lightspeed Venture Partners. [ Techcrunch Report]

• Doing Good: Multiverse’s product expands access to the tech sector those traditionally underrepresented in the industry leveling the playing field to jobs that require experience by providing practical experience via apprenticeships.

BlueNalu, a nearly four-year-old, San Diego, Ca,-based food company producing a variety of seafood products directly from fish cells, has raised $60 million in debt financing from new and existing investors. (The company has separately raised around $25 million in equity funding across the years.) Rage Capital led the $60 million convertible note financing, with participation from Agronomics, Lewis & Clark AgriFood, McWin, and Siddhi Capital. [ Press Release]

• Doing Good: BlueNalu, much like Air Protein, is providing alternative protein except specifically for seafood. By creating these alternatives directly from fish cells they reduce the greenhouse gas emissions that traditional seafood processing outputs.

DeHaat, a nearly nine-year-old, Gurugram, India-based online platform that offers full-stack agricultural services to farmers, has raised $30 million in funding, led by Prosus Ventures. The round also saw participation from earlier investors Sequoia CapitalIndia, FMO, Omnivore, and AgFunder. [ Your Story Report]

• Doing Good: DeHaat’s platform is bridging the digital gap to farmers India by increasing their overall bottom line through efficient operations with their platform.

ULesson, a two-year-old, Nigeria-based edtech startup that sells digital curriculum to students through SD cards, has raised $7.5 million in Series A funding. Owl Ventures led the round, joined by LocalGlobe and earlier investors, including TLcom Capital and Founder Collective. [TechCrunch Report]

• Doing Good: ULesson uses low-bandwidth ways to expand quality education to those in need more efficiently than the private school system thereby reducing the price.

Carbyne, a six-year-old, Israel-based developer of a cloud platform for emergency services communications, has raised $25 million in B1 funding co-led by Hanaco Ventures and Elsted Capital Partners, with participation from former general and CIA director David Petraeus, Founders Fund and FinTLV. [ TechCrunch Report]

• Doing Good: Carbyne’s product directly helps emergency services better respond, prioritize and help those most vulnerable in emergency situations.

DWDG Jobs

Doctors on Demand [Series D]

• Mission: “Improve the world’s health through compassionate care and innovation. We believe that health is personal, and means so much more than treating illness.”
• Jobs: https://www.doctorondemand.com/about-us/careers

Evidation Health [Series D]

• Mission: “Our mission is to enable and empower everyone to participate in better health outcomes. Evidation measures health in everyday life and enables anyone to participate in ground-breaking research and health programs.”
• Jobs: https://evidation.com/careers/

Cityblock Health [Series C]

• Mission: “At Cityblock, we believe health starts in our neighborhoods. That’s why we show up for our communities with radically better care. We provide physical, mental, and social services to care for your whole self and support your daily life. Everyone deserves good care. Together, we can reduce costs, improve your experience and the quality of care, and transform the health of our communities.”
• Jobs: https://www.cityblock.com/careers

Stay safe and stay healthy! Good things are happening all around us if we choose to see them. Hope this helps in a small way towards that. I’ll leave you with one of my favorites from this past week

Catch you on the flip side!

✌🏽Anand

Originally published at https://dwdg.substack.com.