Hello and welcome back to Last Week In Venture, the weekly roundup of startup funding deals which may have flown under your radar.
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Before getting into that, though, heres a bit of what the 蹤獲弝け News team did this week. VC investor confidence is down, and we followed up with an investor to hear their thoughts on the market. We covered Amazons acquisition of home WiFi company Eero and supergiant funding rounds raised by Rivian, DriveNets, Flow Kana, and Nuro. We covered reports that Doordash is inking a big new funding deal. And, in other news, Lyfts founders move to concentrate power, Peloton is prepping for an IPO, and dating apps arent getting a lot of love from VCs.
Of course, this is just a small piece of a bigger picture. There are plenty of companies outside the unicorn spotlight, and their contributions to the broader startup ecosystem are definitely worth sharing.
So, without further ado, lets dive into the week that was in venture-land!
Haute Hijab
Aiming to deliver the worlds best hijabs for the worlds most powerful women, NYC-based designs and sells a selection of hijabs and underscarves in an array of luxury and performance fabrics. On Monday, the company it raised led by . , , , , , and participated in the deal.
The ecommerce company was launched back in 2010 by (CEO) with her husband (COO). Last year, when Haute Hijab launched a luxury collection of crystal-laced hijabs, Elturk that, growing up in Detroit in the 90s, she owned two hijabs that she would rotate every other day. They were dark and drab and didnt fit into my American style the idea of hijab and fashion couldnt even be said together. It was the ultimate oxymoron, she told the fashion magazine.
Today, the company is a leading brand in the hijab market and says it plans to use its new capital to scale up domestically and extend its competitive lead worldwide. In a statement about the funding round, the company says that [t]he average Muslim woman wears up to four hijabs per day and owns over 100 hijabs in total, and its a rapidly-growing market. Citing , the company said that the Muslim middle class is expected to triple to 900 million people by 2030. According to , $254 billion was spent on Muslim attire in 2016. The report indicates the market could grow to $373 billion by 2022.
Professional Network Data Mining
The likes of Facebook and Google are busy mining your social data for ethically dubious (but phenomenally profitable) advertising businesses. Well, teams can now collectively mine their own professional network for more useful stuff, like introductions to new customers and business partners.
is a San Francisco-based maker of a relationship intelligence platform, which structures the worlds communication data to harness the power of professional relationships.1 The company raised co-led by and . , , and (investing individually) participated in the round.
How does it work? Affinitys patented technology siphons metadata out of your calendars and email, reconciles it with available social information and communications from other people on your team, and helps visualize a professional network and identify folks who are best-positioned to make warm introductions. Its like the contemporary digital surveillance state, but for corporations!
The on the companys website says that a person using the software is able to view email subjects, email recipients, calendar event titles, and calendar participants across [their] entire firm. The company advises to use the default-open privacy settings, but it says it offers more granular privacy controls, including ways to hide messages between certain people from the platform. In a business setting, it makes sense to keep some executive communication off the record, as it were, but it highlights another divide between haves and have-nots. If , the workers themselves can be wells, too. Sounds like a greasy business to me.
Storing Time Makes Money
Stop for a moment and think about the countless sensors and chips, logging and computing away, recording moment-to-moment happenings all day, every day. Where does all that data go?
Well, to be most useful, time-dependent data should be stored in a , which are purpose-built to slice and dice data by datetime tags. Time-series databases are among the fastest-growing category of databases infrastructure. According to industry monitoring authority , the most popular time-series database system is .
This week, InfluxDB announced it raised $60 million in a Series D round led by Norwest Venture Partners. Several , including and , participated in the round.2 In conjunction with the financing, CEO joined InfluxDatas board of directors.
More Interesting Deals From The Week
- isnt the only Midwestern upstart automaker to close funding this week. Ann Arbor, MI-based raised co-led by and . The company is developing self-driving vehicles that will be available through an on-demand shuttle service in urban centers. and backed in February 2018. May Mobility went through s Summer 2017 batch.
- , developers of an incredibly intuitive, precise and flexible 3D pen for sketching, modelling, review and animation inside and outside of XR raised led by . of individual angel investors, seed fund and London-based deep tech investor participated in the round.
- And finally: one of bitcoins technological selling points is its open, publicly auditable ledger of transactions. It turns out theres money to make by mining this data for secrets and statistics. Blockchain analytics and research firm raised led by . , which led the companys in April 2018, participated in the deal announced this week.
And with that, were done! Heres to hoping that some of our U.S. readers can enjoy a three-day weekend. Everyone else should rest easy, too. The POTUS probably isnt going to do anything else while hes golfing.
Image Credits: Last Week In Venture graphic created byPhoto by Ferdinand Stohr, via Unsplash.
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participated in the round as well. Mayfield Fund is an , the corporate parent of 蹤獲弝け News. For more information about 蹤獲弝け Newss policies about disclosure, please consult the about page on the 蹤獲弝け News website. ↩
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