This past week’s notable investing deals include woman-led startup Tala, dyslexia-screening platform Optolexia and novel eye-disease screening startup Tilak.
Tala – this week’s spotlight is woman-led Tala which helps under-banked people in emerging markets obtain both a credit score and a small loan of between $10 and $500 using only an Android smartphone app. The Southern California-based startup leads by example – nearly half of its employees are women, more than 70% are people of color, and 40% of its loans are provided to women.
Founder Shivani Siroya who is a Columbia and UNPF alum became, in her words, a “walking QuickBooks” as she explored for two years how to identify the borrowing capacity of and offer credit products to consumers in West Africa, sub-Saharan Africa and South Asia. $30 million Series B via IVP and Ribbit Capital. Based in Santa Monica, California.
Amino – takes the “guesswork out of healthcare” and affords to its community of users a transparent healthcare platform. It boasts data from 9 billion claims and $1.8 trillion in medical bills. $25 million in Series C funding from Highland Capital Management. Launched in October 2015, Amino is based in San Francisco, California.
Cognoa – app uses machine learning to provide an assessment of a child’s pace of development and of their behavioral health (to detect say early indications of autism). $11.6 million in a round led by existing investor Morningside, bringing the company’s total funding to-date to over $20 million. Based in Palo Alto, California.
Inocucor – has developed a patented fermentation platform for microbial products that helps plants fight stress from the environment, chemicals and infection. The platform utilizes naturally occurring microbes in soils that induce more rapid growth and greater harvest yield and quality in crops. $38.8 million CAD first close of its Series B financing round via TPG.
Optolexia – makes a digital screening tool that uses AI and science to identify dyslexia in children, a common disorder that makes it difficult to read or interpret words, letters, and other symbols. $5.6 million in a round led by Segulah and The Pomona Group, which the startup plans to use to expand to markets in the US. Based in Stockholm, Sweden.
Pond – healthcare innovator makes a small, portable “smart” spirometer, an instrument that measures the air capacity of the lungs, that connects to a smartphone via the audio jack, which combined with an app, can help users export their data to share with physicians. $2.1 million (2 million euro) in seed funding from Swedish investment company Spiltan. Based in Stockholm, Sweden.
Solstice Energy – Internet of Things (IoT) energy device maker Solstice Energy makes Shyft, a smart energy transfer switch and energy meter that allows “seamless shifting between energy sources, enabling better efficiency and simple energy management.” $50,000 via the Berkeley Cleantech University Prize (CUP). Based in Nigeria.
Tilak – novel startup makes unique mobile games to diagnose and assess a number of chronic health illnesses, such as one for screening eye diseases by monitoring the visual parameters of the macula – the area near the center of the retina that is responsible for high-acuity vision. $2.7 million from the iBionext Growth Fund. Based in Paris, France.
Uptake – develops analytic software that helps predict and prevent failures across a broad range of industries – including railroads, health care and infrastructure. $50 million in Series B to total $135 million from 4 investors, Steve Case’s Revolution and Warren Buffett among them. Based in Chicago, Illinois in the U.S.
Voxy – offers a platform for teaching English to corporations, institutions, and individuals. Just last week on March 31st, Voxy received a 2017 Cool Tool Award from EdTech Digest for being this year’s best language learning solution. $12 million financing round via SJF, Rethink Education, Contour Venture Partners and others. Based in New York and Brazil.
Waycool – startup Waycool is a fresh produce distribution company that sources fruits and vegetables from small farms, and sells through multiple distribution channels like small local shops and modern retail outlets. $2.7 million from Aspada Investments will help extend its reach to other major cities like Bengaluru and Hyderabad, and build a technology platform to reduce inefficiencies in its supply chain. Based in Chennai, India.
In other news, Syria’s chemical weapons attack on its population is certain to rock the markets, provoke a response from the United Nations and/or the United States and will require humanitarian assistance in a country already devastated by the past five years of violence.
Sources: Crunchbase, TechCrunch, SEC, ImpactAlpha, Mobile Health News
