Series A startups, December 21
Biotech, eCommerce credit, next day delivery
My grandma had patches of dark spots on her face and they got darker as she got older. I thought it is something people get on their skin as we get old, maybe vitamin deficiency, but now I realize she might have had hyperpigmentation. It’s not cancerous but it is something that women of Hispanic, African, and Asian descent have. Excess melanin production is the root cause of a number of common skin diseases including hyperpigmentation. So here is a company with a mission to address the root cause of skin diseases: DermBiont, a Boston-based dermatology startup raised a $28 million Series A extension round.
Veho, a NY-based next-day local delivery and return pickup startup raised a $125 million Series A round at a $1 billion valuation. The company has grown its revenue 40x since the $5 million Seed round. This is unusual to be valued this high at such an early stage but not uncommon. Most billion-dollar companies raise Series B or Series C to get there.
Ambys Medicines, a South SF-based biotech for severe liver diseases startup raised a $47 million Series A extension round. Our liver needs a certain number of high-quality liver cells. If we don’t have them we get sick. Ambys Medicines produces these high-quality cells that can help support or even replace liver function. More about what the company does: https://www.ambys.com/ambys-completes-47-million-series-a-extension-to-advance-liver-cell-therapy-platform/#article
Ampla, a NY-based credit line for an eCommerce startup raised a $40 million Series A round. Ecommerce is part of the new economy and traditional banks have not adjusted their products to provide working capital. There are now several companies that offer a working capital either as a Buy Now Pay Later or a Credit Line. So eCommerce brands use Ampla for non-dilutuve capital to raise dilutive capital.
