- KillerStartups Newsletter
- Do Not Sleep On This Acquisition
Do Not Sleep On This Acquisition
Biotech Startup's IVG Breakthrough
KillerStartups weekly newsletter is off to the races! Welcome and thanks for the support as we grow this massive startup community. Our goal is to connect startup founders around the globe!
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Tweet of the Week
Meme of the Week
Notes from The Staff
Other Newsletter Recommendations!
News Picks of the Week
India’s Furlenco to sell 35% stake for $36.5 million - TechCrunch
Mattress maker Sheela Foam, known for its brand Sleepwell, is set to acquire a 35% stake in furniture startup Furlenco for $36.5 million. This move aims to gain a larger share in India's mattress market. Furlenco operates a furniture and appliance rental service, with revenue of $18.5 million in the last financial year.
Additionally, Sheela Foam is acquiring a 94.66% stake in Kurlon Enterprises, a mattress seller, for $262 million. These acquisitions will enable Sheela Foam to tap into the growing branded furniture market in India.
US Dominates Crypto Startups - CoinTelegraph
Crypto startups based in the United States secured 45% of all venture capital funding invested in the crypto industry, followed by the United Kingdom (7.7%) and Singapore (5.7%), according to a report by Galaxy Digital. Despite regulatory scrutiny, U.S. crypto businesses attracted significant interest from VC firms.
However, the total amount of capital invested in crypto and blockchain startups has been declining over the last few quarters. While the "broad Web3 category" had more deals, companies in the "trading category" raised more capital. This trend comes amid regulatory actions taken by the SEC against several U.S. crypto firms, sparking concerns about the impact on innovation and the cryptocurrency industry in the country.
Conception, a biotech startup based in Berkeley, is aiming to revolutionize human reproduction through in vitro gametogenesis (IVG). They are working to turn induced pluripotent stem cells into human eggs, potentially allowing women who have lost their eggs due to cancer treatment, or those who have never been able to produce healthy eggs, to have genetically related babies at any age.
IVG could also enable same-sex and transgender couples to have biologically related children. The company has made significant progress in creating structures called follicles, crucial for maturing eggs, but their claims are yet to be validated by independent scientists.
While IVG holds immense potential for millions, it also raises ethical concerns and the need for government regulation.
After its acquisition by Raleigh-based First Citizens Bank, Silicon Valley Bank (SVB) appears to be back on track, actively participating in debt financing deals with Massachusetts and other companies.
In the first half of 2023, SVB provided $6 million debt financing to identity security startup Oort and $2.5 million to MIT spinout OPT Industries. The bank has also been involved in other significant deals across the country, such as offering $100 million to San Francisco startup 6sense and $50 million to fintech company Achieve.
SVB's resurgence may indicate its new owner's commitment to continuing its legacy as a prominent lender to startups. However, it is still doing fewer deals compared to its independent period.
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Tweet of the Week
“The man who walks because he loves walking will walk further than the man who loves the destination.”
But the man who walks to save his loved ones won’t stop, no matter how much he hates walking.
Use whatever it takes to get to wherever you wanna go.
— Alex Hormozi (@AlexHormozi)
Jul 17, 2023
Meme of the Week
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