Transportation disruptors Proterra, Ponycar, Supr Daily and Mercadoni are among the notable investing deals this past week.
Alto Pharmacy – provides a digital pharmacy backend and technology platform, has raised $23 million in Series B funding. Formerly known as ScriptDash, the startup is based in San Francisco, California.
Mercadoni– a grocery delivery app and service startup based in Colombia, Mexico and Argentina, has raised $6.2 million in Series A funding. The startup claims its platform helps avoid for its approximately 250,000 customers about 4 hours per week in Latin American cities ranked by Waze as among having the most chaotic traffic in the world.
Eloxx Pharmaceuticals – develops therapeutics to treat complex and incurable genetic diseases such as Cystic Fibrosis, Cystinosis, Duchene Muscular Dystrophy and Rett Syndrome, has raised $24 million in VC funding. Based in Israel.
Proterra – this week’s spotlight, an all-electric zero-emission EV bus maker, has raised $55 million in a sixth-round funding from BMW i Ventures and Al Gore’s Generation Investment Management. It was among who was profiled in Atlantic’s warm coverage of Al Gore and Generation in 2015. Based in Greenville, South Carolina, and Burlingame, California.
“Tesla managed to surpass Ford’s market cap in part because investors value the potential of its electric drivetrain technology,” analyst and co-head of Growth Equity Colin LeDuc. says. “Proterra offers a similar value for the bus market.”
Proterra buses claim a range of 350 miles (comparable to Tesla’s now top range of 335 miles in its Model S 100D). With battery costs falling and EV technology improving, Proterra is poised to deliver. The company has sold more than 375 vehicles to municipal, university and commercial transit agencies throughout the U.S. See another video on why Worcester Transit chose Proterra.
Supr Daily – a dairy and grocery delivery service in India, has raised $1.5 million in VC funding. Like Mercadoni, it aims to bring more order to India’s chaotic system of morning milk deliveries, made complex because of urbanized traffic and milk’s short shelf life (see our brief on Dodla). Based in Mumbai, India.
Other Relevant News of Interest
Apple issues a $1 billion green bond (see our short brief) to continue its push to utilize renewable energy sources.
Swedish private equity firm AP2 sets $50 million for the TPG Rise Fund.
Soda giant Coca-Cola will contribute $1.7 billion to boost India’s agribusiness throughout the next five years through “grove to glass Fruit Circular Economy” sustainable agricultural practices.
Rabobank and MIT announces the winners and the top honors at the second annual Food and Agribusiness Innovation Prize, a student food and agribusiness plan.
Why Gwyneth Paltrow and Serena Williams just invested in a frozen food startup.
Major pork producer Smithfield has launched its first-ever Spanish website to engage Hispanic consumers. Its Sustainability Report also received an Innovation award in June.
SoftBank has agreed to acquire the robotics company Boston Dynamics from Google parent Alphabet.