Wednesday, June 10, 2026

Impact Investing Deal Report – April 5, 2017

By
Gino Baltazar, MS Finance
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Tala Co.

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.

Shivani Siroya of Tala

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

Impact Investing March 2017 Roundup

By
Gino Baltazar, MS Finance
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Trump executive orders
Getty Images

Sustainable investing climbed to $23 trillion worldwide based on a global March GCIA survey-based report, buoyed by the Paris Climate accord last year and evolving fiduciary via changing demographic demand, e.g. millenials requiring SRI in their investments.

Social enterprises like ProducePay, a California-based financing platform for farmers, which raised $77 million in funding via CoVenture, 410Medical, maker of “LifeFlow,” a hand-powered rapid infuser of fluids for critically ill patients to combat sepsis and Sens Food maker of the cricket flour based Sens Bar, made by a chef who has 13 years of experience in cooking with insects, hold much promise to improve and positively impact lives in the future.

Clouds Ahead

Positive news aside, notably in March was the proposed US budget threat to eliminate climate change funding, the EPA, the CDFI and NMTC programs. All programs are crucial to sustainability and support of low-income communities through, in NMTC’s case for example, a tax credit for private lenders if they invest in underserved areas.

Invest Impactly advocated for the permanence of NMTC in December last year, arguing the clear impact it has demonstrated to ordinary working Americans and communities, such as those showcased by US Representative Pat Tiberi in Ohio.

Other investors are responding. President Trump’s executive orders and proposed budget cuts are increasing demand for impact and ESG investments.

Green Bonds

Cities and enterprises may increasingly turn to using green bonds as a financing vehicle. Other regions like New Zealand and Australia have been experimenting with social and green bonds, and some are finding success in those programs.  Green crowdfunding, already popular via platforms like KickStarter and which grew substantially since Obama’s Jobs Act passage may also be considered an alternative, unless the administration also chooses to reverse its trend.

Or they may turn to progressive leaders like the same US Representative Pat Tiberi who has been championing NMTC has been working with his colleagues on Capitol Hill on a bipartisan bill called the Opportunity Act (IIOA).  The new bill aims to tap into the estimated $2 trillion in unrealized capital gains in stocks and mutual funds and “defer their inclusion in gross income for capital gains reinvested in opportunity zones.”  In other words, IIOA’s goal is to help direct gains from successful private investments to new economic revitalization efforts in places that have been left behind since the Great Recession.

Pacific Community Ventures has also shared a good roundup of the past month. Impact investing momentum continues with new green investment vehicles and seeds for new interesting products being introduced each week, and announcements by funds adopting ESG or incorporating SRI into their portfolios, also covered in January in surveys by Callan and MSCI.

***

“CDFIs are the original impact investors, turning small amounts of capital into billions of dollars of economic activity, and hundreds of thousands of jobs. The growth of CDFIs over the past 20 years has come in large part thanks to the CDFI Fund at the U.S. Treasury. Last year, Congress appropriated just $233 million to the CDFI Fund. That led to $2.1 billion loans and investments that created 28,000 jobs in poor communities.

Now, all of that good work is in danger. In his so-called “Skinny Budget” the President eliminates the CDFI fund in its entirety. It also eliminates the New Markets Tax Credit program, which spurs revitalization in low-income communities through offering private lenders a tax credit if they invest in underserved areas.

In calling for the elimination of programs like the CDFI Fund, the President’s budget said that in contrast to 20 years ago, “private institutions [now] have ready access to the capital needed to extend credit and provide financial services to underserved communities.” This is “true” only in the most cynical sense.

Small businesses certainly have “access” to capital, but if these programs are eliminated those sources of capital will dramatically pull back from investing in all but bigger businesses and the richest communities. The fastest growing segments of small business owners are Africa-American women and Latino women, the U.S. Small Business Administration says they’re three-times as likely to be turned down for loans by a bank. The Association for Enterprise Opportunity notes that 2.2 million small businesses in “low-wealth communities” seek credit in a typical year – and 8,000 small business loan requests are declined every business day.”

 

SRI Continues to Grow 12% CAGR, Reaches $23T in 2016, GSIA report says

By
Gino Baltazar, MS Finance
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Invest Impactly - GSIA growth 2016
Chart: Invest Impactly. Data Source: GSIA

Global assets professionally managed under sustainable and responsible investment (SRI) strategies grew by a compound annual growth rate of 11.9% and in 2016 reached $22.9 trillion AUM from $18.3 trillion in 2014, according to GSIA Global Sustainable Investment Alliance’s biennial report.

Growth Drivers

Among the factors cited by the report for SRI’s growth globally:

  • Climate change was a major driver, particularly in the wake of the Paris Agreement which went into force in November 2016
  • New green investment vehicles like social impact, green and climate bonds
  • China with its commitments to reduce emissions by 2030
  • Pension funds which along with superannuation funds, a type of long-term savings plan, are increasingly requesting ESG in investment portfolios.
  • In Europe, fiduciary was the main driver for SRI, “sending a very strong message to policy makers.”

Sustainable and responsible investment’s (SRI) share now stands at 26% of all professionally managed assets globally, according to the confidential survey of investment management and institutional asset firms.

Impact Investing Growth

While targeted private market investments were studied, community investing, where capital is specifically directed to underserved individuals or communities, was also included.

Assets under management in impact investing strategies, including “community investing,” stood at $248 billion in 2016, up 147% from $101 billion in 2014; this includes retail assets.

Growths by Region

Growths by region were as follows:

United States – SRI grew to $8.7 trillion in 2016, up by 33% from $6.6 trillion in 2014, now representing 22% of surveyed investment AUM. $8.1 trillion is managed by institutional investors, money managers and community investment institutions applying various environmental, social and governance ESG criteria in their investment analysis and portfolio selection. ESG integration, the dominant strategy, affects approximately $5.8 trillion in assets. Climate change was the most popular social good driver, and represented up to $2 trillion in assets.

Europe –  SRI grew to $12 trillion in 2016, up by 12% from $10.8 trillion in 2014, now representing 53% of surveyed investment AUM. Exclusionary screening and norms-based screening remain the dominant SRI strategies, and their use grew by 48% and 40% respectively, affecting up to $11 trillion in assets.

Asia exc. Japan – SRI grew to $52.1 billion in 2016, up by 16% from $45 billion in 2014, growing more slowly compared to 32% growth from 2012 to 2014. Sharia-compliant AUM, represented chiefly by Malaysia, and whose investment principles are consistent with SRI, now total $18 billion.  ESG integration and negative/exclusionary screening were the most popular SRI strategies, representing $24.5 billion and $18.8 billion in assets respectively.

Addressable markets for sustainable investing grew fastest in China, 105%, followed by India, 104% and Pakistan, 50%, all since the start of 2014.

China – of the countries surveyed in Asia, China’s SRI grew the most, to $2.9 billion, up by 157% from $450.9 million.  A majority of SRI AUM were related to clean energy unsurprisingly, given the attention China’s dirty air has been receiving.  The country remains committed to its promise of greener policies, thanks in large part to the previous US administration under President Obama, to curtail carbon emissions by 2030. It is expected to make further advances in climate change and environmental policy, including drafting a climate change law and establishing carbon trading regulation.

Japan – SRI grew to $473.6 billion in 2016, up from $7 bilion in 2014, owing to changes in Japan’s sustainable investment market and new asset information collected by the surveys. Corporate engagement and shareholder action was the dominant SRI strategy at $289.6 billion.

Canada – SRI grew to $1.08 trillion in 2016, up by 49% from $729 billion in 2014, its large growth owed mainly to the growth of pensions by 45% to $374 billion in the last two years, and whose numbers were in turn driven by Ontario Pension Benefits Act’s requirements since January 2016 to report any ESG factors in investment policies.

Australia and New Zealand – SRI grew to $515.7 billion in 2016, up by 248% from $148.2 billion in 2014.  In both countries combined, SRI assets now make up a substantial portion of the professional investment market in this region, including 50 percent of professionally managed assets in Australia, reflecting the region’s strong commitment to ESG integrations in investment portfolios.

Africa – through data compiled from a University of Cape Town publication, South Africa holds the biggest share of total SRI AUM with $678 billion surveyed, Nigeria second $30 billion), and Kenya with $13 billion. Nearly 47% of all funds utilized one or more sustainable investing strategies.

Latin America – no SRI data from surveys but indications of ESG advocacy are increasing, to name a few: Colombia’s Green Protocol, subscriptions of the Buenos Aires Stock Exchange, Santiago (Chile) Stock Exchange to and partnership by the Mexico Stock Exchange with the Sustainable Stock Exchange (SSE) Initiative, IndexAmericas.  The AFORES (Private Pension Funds) in Mexico, the main domestic investors in the country, are said to be beginning to develop ESG strategies due mainly to response to international pressure, the report says.

Based on these trends, and calls by influencers like the CFA Institute’s Matt Orsagh’s suggestion for a more three-dimensional approach to SRI and ESG, advisors and analysts who fail to understand the growing popularity of investing according to ESG principles risk falling behind their competition.

Enclosed in quotes below from the report were definitions of the ESG strategies being adopted:

“1. Negative/exclusionary screening: the exclusion from a fund or portfolio of certain sectors, companies or practices based on specific ESG criteria;

2. Positive/best-in-class screening: investment in sectors, companies or projects selected for positive ESG performance relative to industry peers;

3. Norms-based screening: screening of investments against minimum standards of business practice based on international norms;

4. ESG integration: the systematic and explicit inclusion by investment managers of environmental, social and governance factors into financial analysis;

5. Sustainability themed investing: investment in themes or assets specifically related to sustainability (for example clean energy, green technology or sustainable agriculture);

6. Impact/community investing: targeted investments, typically made in private markets, aimed at solving social or environmental problems, and including community investing, where capital is specifically directed to traditionally underserved individuals or communities, as well as financing that is provided to businesses with a clear social or environmental purpose; and

7. Corporate engagement and shareholder action: the use of shareholder power to influence corporate behavior, including through direct corporate engagement (i.e., communicating with senior management and/or boards of companies), filing or co-filing shareholder proposals, and proxy voting that is guided by comprehensive ESG guidelines.”

GSIA SRI Data Table – 2016

Impact Investing Deal Report – March 29, 2017

By
Gino Baltazar, MS Finance
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410Medical LifeFlow
410Medical LifeFlow

This past week’s notable investing deals.

410Medical – today’s spotlight image is the maker of “LifeFlow,” a hand-powered rapid infuser of fluids for critically ill patients to combat sepsis, the body’s immune response to bacterial infection that gets into the blood and a frequent cause of death among hospitalized patients (my own grandmother died of sepsis in 2004).  $3.3 million in Seed A from Bios Partners.  Based in North Carolina.

Haqdarshak –  Haqdarshak is building a multi-state, multi-lingual platform to help people living below the poverty line find out about, apply for, and benefit from, government programs.  Raised over $190,000 from local angel investors, which the social enterprise will use to expand its reach to 5,000 government programs from the 1,500 already on its platform.  They are also looking to expand its staff.  Based in Mumbai and Delhi in India.

BioClin – gets $30 million in funding to help it move forward with more tests of its experimental treatment for bladder cancer.  Soffinnova Ventures and Ysios Capital led the round.  Based in San Ramon, California.

Semma Therapeutics – biopharma company that is developing stem cell-based therapy solutions for type 1 diabetes (T1D), announced it has received an investment from the JDRF T1D Fund, a venture philanthropy fund.  Terms not disclosed.  Based in Cambridge, Mass.

Drivemode –  platform over mobile to reduce distractions for drivers via an eyes-free interface designed to access smartphone functions like navigation, messaging, calls, entirely via voice. $6.5 million in a new Series A round, led by Panasonic. Based in San Jose, California.

Twist Bioscience – developer of a high-throughput manufacturing platform for synthetic DNA, has raised an additional $33 million.  While there is much to debate about advancing synthetic biology, its promises to find cures for chronic killers of humanity such as cancer or malaria are more compelling compared to fears of potential misuse and unintended consequences. Still, research ought to press forward. Based in San Francisco.

Elevate Credit – online issuer of non-prime loans and innovative “responsible lending” products, competitively priced credit to service the large market of over 150 million non-prime or credit-invisible consumers. Its $124 million IPO may be timely, according to CNBC.  Based in Fort Worth, Texas.

VitalTrax – platform over mobile called Wing to help patients search for clinical trials and apply to become a volunteer and a modular, web-based application for enterprises to manage patient trials. $150K seed fund from Safeguard Scientifics, Ben Franklin Technology Partners and Independence Blue Cross. Based in Philadelphia.  (In a separate development, foreign investment is eyeing PPD, LLC, a clinical trial concern, based in North Carolina)

DataWorld – social hub and single data-platform to connect researchers, data practitioners and data scientists to collaborate on big problems requiring data-crunching. $18.7 million via philanthropist Pat Ryan and Chicago Ventures and Shasta Ventures. Based in Austin, Texas.

Janajal – its water ATM’s make clean, drinking water more accessible to more than 75 million consumers in India via its vast network of railway stations.  $5 million investment commitment from North Carolina-based Tricolour Cleantech Capital, a social impact fund focused on clean technologies.  Janajal is based in Mumbai, Hyderabad, New York US.

In other news, Wall Street Journal Wednesday’s Blackrock headline in today’s Wall Street Journal is certain to be a bellwether for impact investing if not the entire industry overall – bets to increase usage of quantitative algorithms and to, for some of the firm’s funds according to the article, increase focus on social impact.

Sources: Crunchbase, TechCrunch, SEC, ImpactAlpha, Wall Street Journal

How 3 Social Enterprises in Colombia are Making Impact

By
Gino Baltazar, MS Finance
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Social enterprises, more pertinent than ever in Colombia
Colombia Reports

Mariángela Ramírez of Medellin-based Colombia Reports, a news hub of about 150,000 unique visitors for audiences in North America, Europe and readers of the New York Times, Huffington Post and Fox News, reports from the field on how three social enterprises are making impact in Colombia.

First off though, Ms. Ramirez attempts to define exactly what “impact” and a “social enterprise” really are.  Then she cites the work of three social enterprises:

Edupol – offers resources for the country’s rural and low-income population to pursue distance education programs and courses through a network of centers throughout Colombia. Edupol has more than 10,000 students in Colombia spread over more than 110 centers (see a sample of 85 videos on Youtube)

Algramo – which means “by the gram” in Spanish offers vending machines filled with bulk staples such as rice, beans, lentils and sugar to overcome the so-called “poverty tax” being imposed by profit-seeking grocery chains in rural areas in the country.  Started by a student from Santiago, Chile, Algramo has reached more than 15,000 people and delivered more than 300 machines.

Gigante Central Wet Mill – provides farmers access to a world-class quality coffee processing facility, while connecting them to global buyers to maximize earnings for coffee that is farmed and produced. Over $460,000 in funding.  The Acumen Fund is a sponsoring fund.

***

“A social enterprise is a business. It offers a product or service, it typically has an attractive an innovative value proposition for the market, is has competitive advantages, and it clearly defines a game changing business model which paves its way towards financial sustainability. Aside from being a business, a social enterprise must have a social impact thesis embedded in its operation. The latter is what makes these organizations particularly interesting and promising for future abundance.

An impact thesis could be defined in infinitive ways. The following are some examples:

  • Enabling low income communities to have broader access to basic services such as water and sanitation, energy, or health.
  • Equipping smallholder farmers with technical expertise and infrastructure to better produce and market their production along the value chain.
  • Opening the formal labor market to former members of illegal groups.
  • Providing larger access to financial services in rural communities.
  • Fostering women inclusion in the formal economy.
  • Promoting broader access to technology and education to low income youth.

While each impact thesis is deployed in a sector of the real economy, its long-term results go beyond the benefit driven by the business itself. Their ultimate goal is to contribute to a more abundant society either by reducing poverty, by promoting gender and economic equality, or by fostering social inclusion and environmental sustainability.

The pursuit of profit in a social enterprise will always function in tandem with its social progress vision. This distinctive combination of principles makes these companies commendable and worthy of our interest, particularly in Colombia. In our country, these companies are playing a critical role in shaping the new societal context we require to build enduring stability and peace.

 

Companies like Edupol, Algramo and Gigante Central Wetmill are just a few examples of a growing number of social ventures, are building successful business cases in the education, retail and agriculture industries. While improving education and income, these businesses are equipping individuals in rural Colombia and low income communities to open their way upwards in the social ladder, having more control of the course of their lives and the new generations they bring along.”

Impacting the Longevity Economy and the Aging Consumer

By
Gino Baltazar, MS Finance
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The so-called “Longevity Economy” – the impact of the nation’s population of over 111 million 50-plus consumers on the economy – represents a significant and ripe sector for purpose-driven investments.

According to a Global Age Watch Index report in 2015, the 50-plus age demographic generated $7.6 trillion in economic activity (a $500 billion increase from 2013), including $5 trillion in consumer spending. With the population segment living longer, growing as more consumers get older each year, it is projected to grow to nearly double to $13.5 trillion by 2032.

And with size comes more diversity, and opportunity.  Many are increasingly starting or are getting involved in innovating new businesses to support ebbing fixed incomes, insufficient pensions and judging by ongoing Washington budget and policy debates on health care, government entitlement uncertainty.

Besides Uber and Lyft, who notably started programs to service the elderly last year, a sampling of ventures include:

Hello Envoy – family “concierge” service for seniors and their families, including running errands, caregiving and elderly assistance.  Most recent funding was for $1.16 million in May 2016. Based in San Francisco.

Chefs For Seniors – marketplace for professional chefs to connect with seniors who need help with meals. Food is cooked in the home tailored for dietary needs. Most recent funding was for $125K in May 2016.  Based in Australia.

SilverRide – door-through-door assisted ride and personalized transportation service for elderly and senior citizens.  Drivers are licensed, bonded, trained and insured but service requires riders to book trips 24 hours in advance . No data on funding. Based in San Francisco.

LiftHero – ride-sourcing service for elderly relying on trained drivers, many of whom are nurses or other medical professionals. Drivers use their personal cars and provide riders with door-to-door assistance, including helping with bags, groceries or assisted living equipment, unlike Uber or Lyft who do not provide wheelchair assistance. No data on funding. Based in San Francisco.

3Rings – monitors the wellbeing of their elderly relatives via a “smartplug” that interfaces with connected appliances with rules that can be configured to alert families via mobile as those appliances are turned on/off.  £600,000 in funding in a round led by health insurer Westfield Health March 2016. Based in the UK.

Breezie – tablet-based personalized platform designed to better engage seniors with technology.  Nearly $7.59 million funding via Clearly Social Angels and Ziegler Longevity Fund. Based in the UK, and are expanding to the US.

E2C – this post’s featured video, E2C “Easy-To-See” makes customized user interfaces for smartphones, tablets, TVs and smart watches for the 70+ consumer.  $1.3 million in 2015 funding via Curious Minds Investments, Plus Ventures, TMT Investments. Based in Israel, with products available in US markets.

HomeHero – platform to connect trained on-demand service between caregivers and careseekers.  Notably, HomeHero ceased operations just in February 2017 after Fair Labor Act changes that required all homecare workers to receive W2 and be paid overtime. Had $23 million in funding via Launch Fund, Social Capital, Tencent.  Based in Southern California.

The market for home care remains large however (graphic below) with Hometeam, backed by over $43 million in funding by Kaiser Ventures, Oak HC/FT and Lux Capital, and Honor, backed by over $62 million in funding by Andreesen Horowitz, Homebrew and True Ventures.

home care market size
Crunchbase

Knopka Zhisni – a medical system “Life Button” that sends signals when old, disabled people and children need help. Over $2 million in funding via Internet Initiatives Development Fund, Rintech.ru, and FRIII, a Putin-sponsored fund.  Based in Russia.

Sources: Forbes, Crunchbase

Impact Investing Deal Report – March 22, 2017

By
Gino Baltazar, MS Finance
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ProducePay

Slightly different news update structure this morning – listing notable investing deals between investors and impacting enterprises in the past week.

ProducePay – this week’s spotlight is a financing platform for farmers, which has raised $77 million in equity and debt funding. It aims to solve what its founders say is a major issue for farmers — getting paid in a timely manner for their crops. CoVenture led the round, and who was then joined by Menlo Ventures, Arena Ventures, and Social Leverage.  Based in Los Angeles, California.

AliveCor – offering an “artificial intelligence enabled” stroke-prevention platform, with a $99 EKG reader device, announced $30 million in new funding, led by Omron Healthcare and Mayo Clinic.  “Heart disease is the No. 1 cause of death in the United States,” according to its CEO.  Based in Mountain View, California.

Beekeeper – a communications platform to “connect the unconnected” for organizations to better connect with non-desktop, blue-collar, service-oriented workers. US$8 million in Series A funding via Keen Venture Partners, Fyrfly Venture Partners, Polytech Ecosystem Ventures and b-to-v Partners.  Based in Switzerland and in the U.S.

Countable – a new digital platform for civic engagement, has raised $2 million in seed funding from Canaan Partners. Based in San Francisco, California.

EndoMaster – an NTU-NUS developed robotic-assisted surgical system that removes gastro-intestinal cancer tumours without surgical incisions, has raised S$20.5 million in Series B funding.  Based in Singapore.

FarmLead – a digital marketplace that allows buyers and sellers to list, negotiate and finalize grain deals, has raised US$6.5 million in Series A funding via Monsanto Growth Ventures, Avrio Ventures, the MaRS Innovation Accelerator Fund and Serra Ventures. FarmLead serves more than 4,000 farms.  Based in Ottawa, Canada.

Homage – offers a platform that connects caregivers with elderly people seeking assistance, has closed a $1.2 million seed round. Via 500 Startups’ Southeast Asia fund, Golden Gate Ventures, and SeedPlus, a fund affiliated with Jungle Ventures. Based in Singapore.

HoundLabs – the “world’s first marijuana breathalyzer,” has raised $2.4 million in funding per an SEC filing. Via Intersection Ventures and CamberView Partners.  Based in Oakland, California.

LendUp – socially-responsible lender to the “56% of the US population” segment who are unbanked or under-banked because of poor credit or unstable incomes. $100 million in debt financing from Victory Park Capital. The financing comes at the same it announced surpassed $1 billion in loan-origination. Based in San Francisco, California in the U.S.

Livongo Health – modern health platform for chronic conditions like diabetes, offering new products like a connected meter that automatically uploads blood glucose readings for the benefit of care organizations and patients. Raised $52.5 million in Series D via General Catalyst and Kinnevik.  Based in Mountain View, California.

Moximed – developed an “Atlas System” designed to treat knee osteoarthritis by absorbing excess load placed on knee joint, has raised $50 million in Series C funding via Advent Life Sciences, GBS Venture Partners, Future Fund, NEA, Morgenthaler Ventures and Vertex Healthcare. Based in Hayward, California in the U.S.

Social Finance Inc – better known as Sofi, is a non-bank lender best known for its student loan refinancing product, but also offers mortgage loans, personal loans, and wealth management products.  Target market to highly-affluent, well-educated student loan borrowers.  Raised $452 million in Series D per SEC filing.  Based in San Francisco California.

Sprouts – a favorite among organic food conscious consumers and a less expensive alternative to Whole Foods is said to be in talks to be added to Albertsons’ portfolio, which includes Safeway stores.  Food deflation and price competition are impacting the sector. Based in Austin, Texas in the U.S.

Sources: Crunchbase, TechCrunch, SEC

Chivas Ventures Unveils Top 30 Global Social Enterprise Finalists

By
Gino Baltazar, MS Finance
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March 20th, 2017 Chivas Regal unveils $1 million global social enterprise finalists
Chivas Ventures

Chivas Ventures, the global pitching platform of Chivas Regal, has unveiled 30 finalists out of about 6,000 applicants, startups across the planet at the Skoll Centre, University of Oxford, in its search to surface the most promising social entrepreneurs.

Each finalist is expected to make a final trip to Los Angeles in July this year to compete for a share of US$1 million to fulfill their dreams of a better world.

Who The Finalists Are

Choosing would be a tough decision, as each finalist’s value proposition is really compelling: products range from solutions that recycles waste, cleans water, transforms a wheelchair to a tricycle for disabled consumers, shares surplus food and makes energy bars from cricket insect flour.

DayOne Response – for its 10-liter, US Marines-ranked #1 Waterbag that can turn any heavily-contaminated source, such as dirty river water, into safe and clean drinking water, in just 30 minutes. US-based.

NexBio – rapid identification and diagnosis of plant disease via DNA analysis.  Based in Poland.

Xinca – recycles rubber tires from landfills to create rubber shoes, leveraging inmates from a nearby prison as a labor source. Based in Mendoza, Argentina.

Bioestibas – ecologically-made shipping pallets, made from discarded flower stems. Industrial pallets today cause 40% of global deforestation.  Based in Colombia.

Recycle Points – incentive-based, waste-recycling operation employing unemployed women in its communities.  Based in Lagos, Nigeria.

SoloCoco – range of organic, fair trade products (oil, flour, soaps, lotions and more), sustainable from the coconut tree to finished product, with single unemployed mothers in its labor community. Based in the Dominican Republic.

Sens Food – among its products, the Sens Bar made with cricket flour, made by a chef who has 13 years of experience in cooking with insects. Based in Czechoslovakia, with recent advice from food tech accelerators in San Francisco.

Sanivation – delivery of modern toilets to refugee camps, while transforming waste collected to a clean burning alternative to charcoal, which in turn provides an alternative to deforestation. Based in Kenya.

Wearobot – affordable and modular exoskeleton technology for those who suffer from mobility loss. Founder was inspired by his dad’s suffering from complications of aging. Based in Monterrey, Mexico.

Sea2See – designer eyewear recycled from sea-littered plastic and abandoned fishing net. Based in Spain.

iDropWater – water purification and dispensing units at point of sale stations, 80% cheaper than bottled water.  Based in South Africa.

African Clean Energy – smokeless cooking stove and off-grid solar energy for lighting and phone charging, can use twigs, cow dung, coconut shells, corn cob centers as cooking fuel. Based in the Netherlands and Lesotho.

Livre – transforms wheelchairs into electric tricycles for 12 million potential disabled consumers in North and South America.  Based in Brazil.

Now Money Gulf – remittance marketplace over mobile phones where consumers can compare rates and send money back home directly from its app. Based in Dubai.

SOWAT – “System Open Water Advanced Technology” stops particles, pollen, parasites, bacteria, viruses, while preserving minerals in water.  Based in Romania.

Sea Harmony – vertical reef mussel-farming technology, made from sustainable products and aiming to restore marine life back to the “Dead” zones in Eastern Europe.  Based in Bulgaria.

Words with Heart – recycled, vegetable-based ink paper as an alternative source to the traditional paper industry, the world’s 4th largest industrial user of energy and a significant cause of greenhouse gases.  Uses part of its profits to educate girls and women in the developing world. Based in Australia.

Green City Solutions – “CityTree” product combines a vertically-installed moss-like platform with Internet-of-Things (IoT) to filter fine dust, nitrogen oxides and CO2 from the air, producing the same air-cleaning effect as 275 urban trees, but requires 99% less space. Based in Shanghai, China.

Laddroller – eco-friendly and affordable standing exoskeleton/wheelchair, light and solid unit with small turning radius and minimal maintenance needs. Based in Greece.

NowTechnologies – develops augmented, modular wheelchair controller technologies and other innovative assistive devices to improve mobility, communication and independence of disabled, wheelchair-bound consumers.  Based in Hungary.

Siam Organic – develops Jasberry rice, a GMO-free variety of sustainably-farmed, high-oxidant whole grain rice, potential to impact Thailand’s 17 million rice farmers who have the highest costs and lowest yields of all countries in Southeast Asia.  Based in Thailand.

First Respond – aiming to create a network of citizen-based first-aid responders with an integrated SOS system, so that more people in an emergency can be saved.  Based in China.

Intendu – a video-game platform specifically designed for brain training and rehabilitation following traumatic brain injury, strokes, diseases or aging.  Founder was inspired by her father who suffered a brain injury.  Based in Israel.

Olio – a free app that connects neighbors with each other and with local shops so that surplus food can be shared, not thrown away.  Up to 50% of all food produced globally is never eaten and wasted.  Based in the UK.

Factelier – aiming to create world-class fashion brands made in Japan, while building a sustainable and profitable link between local artisans and consumers around the world. Based in Japan.

Smarthead – user-friendly online tool that enables companies and individuals to create and promote their socially-responsible activities.  Based in Slovakia.

FOLO Farms – Feed Our Loved Ones collects food waste per day from hotels and restaurants, and turns it all into nutrient-rich compost, and restore soils ,organically grow healthy organic vegetables for a community of about 100 families.  Based in Malaysia.

Chivas Ventures Statement:

“We were blown away by the calibre of entries for this year’s Chivas Venture competition. The businesses are a great example of the ingenuity and passion of entrepreneurs across the world who are committed to creating a better world for generations to come. The founders of Chivas Regal were entrepreneurs who gave back to their community, and by discovering and supporting startups who too give back to the wider global community, the Chivas Venture is continuing their legacy.

At Chivas we firmly believe that generosity and success go hand-in-hand – and when you share your success with others, business becomes truly rewarding,” says Richard Black, Chivas Regal Global Brand Director.

Sources: BizNis Africa, Chivas Ventures

Why Andreessen is Investing $12M in “Smart” Bike-sharing Startup LimeBike

By
Gino Baltazar, MS Finance
-

With over half of the world’s population now living near cities and urban areas, Andreessen Horowitz is banking on the need to solve the “last-mile” problem through a $12 million infusion into startup LimeBike.

Why It Matters – Biking?

Biking is a proven green, efficient and ubiquitous transportation utility as well as a proven source of happiness for humanity. It’s also a proven way to reduce anxiety stress, depression, pain, weight (Fit&Me).

Today, there are more than 1 billion bicycles in the world, with nearly half of them in China.  Over 100 million bicycles are produced every year. China, India, the European Union, Japan and Taiwan manufacture 87 million, or 87%, of the total amount.

Biking does not consume gas, is carbon-free, is good exercise, and is also the most efficient way to move or be transported, according to a 1973 Scientific American locomotion efficiency study.  Apple’s Steve Jobs, who loved bicycling and was a big fan of Cinelli bikes, once famously cited “computers are the equivalent of bicycles for our minds.”

In the words of the study – “… when one compares the energy consumed in moving a certain distance as a function of body weight for a variety of animals and machines, one finds that an unaided walking man does fairly well (consuming about .75 calorie per gram per kilometer), but he is not as efficient as a horse, a salmon or a jet transport. With the aid of a bicycle, however, the man’s energy consumption for a given distance is reduced to about a fifth (roughly .15 calorie per gram per kilometer).

The Last Mile Problem

Despite these compelling reasons, bike-sharing in most US cities, even in dense urban areas where biking is popular like in San Francisco, Seattle, New York and Portland, cities whose populations are projected to grow by 75% by 2050, is hampered by the so-called “last mile problem.”  It is cost-prohibitive and often fraught with city politics as Seattle has experienced.  Commuters often take to walking, an inefficient way to move compared to biking, to reach their destinations after taking buses and trains.

This need for better, more impactful forms of transit to travel that last mile is what got Andreesen partner’s Jeff Jordan interested in LimeBike, a “smart” bike-sharing and bike-rental startup based in San Mateo, California. Andreesen is investing $12 million in the startup, and Mr. Jordan recently shared his reasons why.

***

“Smart bikes cost a whole lot less to provision than their docked predecessors, in both capital and operations. And because the bikes are far more affordable (and cost cities nothing), they become far more ubiquitous and convenient. This in turn has the potential to change user behavior, in much the same way that people who would never have paid for a taxi or gotten into other strangers’ cars now use ride-hailing and ride-pooling everywhere. Or in much the same way that people who would never have previously even ridden a bike might now consider riding one. What all this means for consumers is that:

  • There can finally be a large supply of bikes to meet demand (including unmanifested demand). Currently, the biggest docked bike-sharing program in the U.S., Citi Bike in NYC, only has 8,000 active bikes — which is actually quite low.
  • Bikes are available wherever they’re needed, including areas of the city whose needs are currently unmet. Because bikes are freed from needing to be picked up and dropped off at a docking station, they’re better distributed throughout and even across cities (which isn’t possible with docked programs due to specific cities paying for the bikes in the first place).
  • On-the-ground operators ensure that smart bikes are distributed and are well maintained; and GPS ensures that bikes are not carelessly blocking important areas like storefronts or off-limit areas designated by the city.
  • Renting a smart bike is more affordable and convenient — it’s the same type of user-friendly mobile experience we have come to expect due to car ride-sharing apps — and there’s no need to lug heavy equipment around or even have to bike both ways.
  • The opportunities to create other businesses for consumers based on this platform are very exciting.

For cities, the smart bike approach:

  • Doesn’t require any subsidies. In fact, there is no cost to the city let alone maintenance fees;
  • Allows the operator to provide best-in-class services to the city and end users, given visibility into the exact location and status of each bike;
  • Enables cities to customize programs for underserved areas and even provision them for high-traffic special events;
  • Can supplement existing citywide docked programs to increase supply and coverage overall;
  • Can increase utilization of existing public transportation infrastructure.

We believe that LimeBike is uniquely positioned to take the best insights and lessons learned from the China bike phenomenon to develop a sustainable solution befitting the U.S. market, working closely with the cities.”

HowGood Raises $4.2M to Help Consumers Choose More Sustainable Products

By
Gino Baltazar, MS Finance
-

New York-based consumer data analytics and food ratings company HowGood announced that it has raised $4.2 million to help finance its growth, R&D in providing increasingly sustainability-minded consumers with SDG ratings on grocery products — food, household products and personal care items.

HowGood’s February 22nd $4.2 million funding brings its total to $6.2 million via nine investors.  They first announced their $2 million funding in September 2014.

What HowGood Offers

The 10-year old company assesses products for their environmental, health and trade impacts. Consumers can access some ratings today via HowGood’s website or mobile app. It plans to offer the service in the future via wearables and voice-enabled computing products like Amazon’s Alexa.

Over 135 million “better purchases” over 200,000 rated products have been made, up from 100,000 in 2015 (enclosed video); its ratings of coffee products are among this author’s favorite.

HowGood’s timing may be prescient.  The Kombucha product for example, a type of fermented probiotic tea that boasts of its sustainability practices, is so common now in retail stores but was once a niche grocery item.  It is now among other “once-hippy” products in a million-dollar industry, according to the New York Times.

***

“So far, HowGood has analyzed 200,000 products, mostly food and beverages. It amasses and crunches data from its own proprietary sources, and from a huge range of open government and third-party firms to derive a complete score for different products. Its analysis encompasses everything from ingredient sourcing to chemicals and processing, packaging, shipping and labor practices.

Customers license HowGood’s data and can display scores in their stores if they choose. Some groceries license the data and use it privately to assess their merchandise and make decisions about what they will and won’t continue to stock. Brands may also license the data to see how they stack up against the industry overall from a sustainability perspective.

“Consumers have a blindness to different issues. Au naturel, healthy, fat-free… They see all these confusing labels and say ‘screw it, I’m just buying the cheapest thing.’ But if you say hey, this is the best thing for you to buy based on qualities you care about, then they will buy it and be happier with what they bought,” the investor said.

HowGood CEO Gillett said the company plans to use its new funding to cover an even wider range of products, research and development and work with a greater number of retailers and grocers. Cosmetics and grooming ratings are under way. While he did not yet have permission to name the companies that plan to use its ratings, he said HowGood struck an agreement with at least one major beauty retailer already.

Besides guiding consumers, he said, HowGood gives brands and groceries a far clearer understanding of how sustainable their products really are, compared to the industry, and how that correlates to sales.”

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