Financing will provide Linxup with working capital to aid its growth as a supplier of GPS tracking, telematics and various vehicle data points for commercial vehicles.

MENLO PARK, Calif., Nov. 22, 2023 — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, announced today a $50 million debt commitment to Linxup, a U.S.-based GPS tracking, telematics and fleet management provider serving small and mid-size businesses. Runway’s debt investment will refinance existing debt and provide additional working capital for Linxup.

Linxup provides easy to use and implement vehicle tracking, asset tracking, and AI-enabled dash cams combined with software solutions, such as reporting, alerting, and dashboards, to customers that operate fleets of commercial vehicles. Customers use Linxup’s solutions to provide visibility into their fleet, reduce fuel cost, increase efficiency, reduce risk, and improve driver safety. Linxup’s solutions are designed to drive significant and rapid return on investment for its customers in both the field service and transportation industries.

“We are excited to invest in Linxup as we believe the company is uniquely positioned as a leading provider of IoT solutions that are tailored to SMB-focused fleets,” said Brian Sapp, Managing Director at Runway. “Linxup is at the forefront of GPS tracking and vehicle data, and we were attracted by their seasoned senior management team.”

“We selected Runway because of their flexible working capital and non-dilutive terms to aid our business operations,” explained Drew Reynolds, CEO of Linxup. “We will use this debt commitment to execute on our ambitious plan and to accelerate our growth. Runway is the ideal partner to collaborate with to set us up as a leader in fleet management and asset tracking.”

Linxup is headquartered in St. Louis, MO, with an additional satellite office in Charlotte, NC and a remote workforce around the US.

Armentum Partners acted as financial advisor to Linxup for the debt transaction.

About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of $10 million to $100 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.

About Linxup
Linxup, formerly Agilis Systems, is a leading provider of vehicle and asset-tracking solutions for fleets and service companies in a variety of industries. Linxup delivers powerful but easy-to-use GPS solutions through a software-as-a-service (SaaS) platform. Our data gives businesses the tools they need to improve fleet management, increase mobile worker productivity, and reduce operating costs. With the introduction of lawn mower tracking and powerful dual-camera dash cams, Linxup continues to be at the forefront of innovation in the GPS field.

Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway’s filings with the Securities and Exchange Commission. Runway undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC

Additional Funding, backed by Intel Capital and Comcast Ventures, Advances AI Systems for Enterprise

TEL AVIV, Israel, Nov. 21, 2023 — AI21, a leader in AI systems for enterprise, announced today the completion of its $208 million Series C funding at a valuation of $1.4 billion. Participation from additional new investors includes Intel Capital, the venture capital arm of Intel Corporation, and Comcast Ventures, the venture capital arm of Comcast Corporation, which joined previously announced investors. This new round of funding brings the company’s total capital raised to $336 million, accelerating AI21’s purpose-driven approach in the era of AI-first enterprises.

“A multi-disciplinary approach is needed to deliver AI to the end user,” said Anthony Lin, Corporate Vice President and Head of Intel Capital. “The AI21 full-stack offering combines foundation models with successful applications and operation tools that will help enterprises accelerate GenAI adoption to increase productivity and affect their bottom and top line.”

“We are impressed with the strong team at AI21 and their ability to scale quickly in a rapidly evolving Generative AI landscape,” said Allison Goldberg, SVP and Managing Partner, Comcast Ventures and Startup Engagement. “We look forward to seeing how AI21 will deliver enterprise solutions to strategically leverage this technology in a way that is meaningful and reliable.”

“We’re extremely grateful for the support of our investors who believe in our deep technology expertise. This funding will enable AI21 to increase mindshare that one size doesn’t fit all, as enterprises look for unique partners that understand their specific needs. Mass deployment of AI requires deep understanding of high-performance language models that can deliver better value and impact. Our approach is about designing AI with purpose, making it significantly more efficient than building from scratch, and much more cost effective,” said Ori Goshen, co-CEO and co-founder of AI21.

Task Specific Models Approach to Enterprise AI
General-purpose models, LLMs are a ‘jack of all trades’, built to offer unprecedented versatility and capable of tackling a broad variety of use cases and NLP tasks. In practice, enterprise customers only need a small number of NLP tasks to support an umbrella of business use cases. This means that enterprise customers are paying for capabilities they don’t need, while also dealing with reliability issues due to output hallucinations or confabulations and other nonsensical blunders caused by the lack of focus in LLM design.

AI21 Studio is a platform that provides API access to developers and businesses with top-tier natural language processing (NLP) solutions powered by AI21’s state-of-the-art language models. The platform’s Task-Specific Models, optimized Language Models (LLMs), are specifically engineered to excel in distinct natural language processing (NLP) capabilities. These models not only showcase exceptional performance in accuracy but also effectively reduce hallucinations, ensuring heightened reliability. Beyond their reliability, these Task-Specific Models cater to enterprises’ diverse needs, covering prevalent NLP capabilities such as contextual answers, summarization, and more. This versatility positions AI21 Studio as a comprehensive solution, offering top-tier NLP tools for a wide range of applications. For example, AI21’s Contextual Answers model, specifically designed for grounded question answering, is used by customers such as Clarivate, an analytics company, and One Zero digital bank to answer user queries using information based entirely on the organization’s body of data.

LLMs to AI Systems
AI21 is one of the few companies in the world that combines the development of proprietary large language models for enterprises with application development for consumers. AI21 achieves this through a neuro-symbolic architecture that combines large language models, external knowledge sources, and discrete reasoning.

“We will see an increasing shift in discussion to AI Systems that will define the next era in computing. By adopting a more comprehensive systems approach, our AI enriches LLMs with knowledge and reasoning, in addition to statistical inference. This enables us to define a flexible architecture with multiple LLMs, complemented by discrete knowledge and reasoning modules,” said Prof. Yoav Shoham, co-founder and co-CEO, AI21.

About AI21
AI21 is a leader in generative AI and Large Language Models, with the mission to empower businesses with state-of-the-art LLMs and AI applications. Founded in 2017, AI21 has raised a total of $336 million at a valuation of $1.4 billion. It was among the first companies to bring generative AI to the masses and, to date, offers consumer applications and enterprise solutions. With the developer platform AI21 Studio, businesses can build their own generative AI-driven applications and services with the world’s most advanced family of language models, Jurassic-2. AI21’s consumer product, Wordtune, is the first AI-based reading and writing assistant to understand context and meaning, enabling its millions of users to refine and generate text or read and summarize text within seconds. For more information, please visit www.AI21.com.

SOURCE AI21 Labs

BEIJING, Nov. 21, 2023 — EACON Mining Technology, a frontrunner in autonomous haulage solutions (AHS), has successfully closed its C round of equity funding, securing an impressive sum of approximately $55.22 million. Spearheaded by Richen Capital, with significant contributions from Shenyin&Wanguo Capital Management and existing investors like ESTAR Capital, this investment brings EACON’s total financing for 2023 to around $62.13 million.

The substantial backing reflects investor confidence in EACON’s capabilities for large-scale deployment of its AHS product. EACON now has 304 autonomous trucks in operation, with a total of 4.2 million kilometers driven autonomously and an impeccable safety record upheld for over five years.

Richen Capital has investments in over eighty top players in AI and self-driving industries. Richen Capital’s co-founder and chairman, Mr. Tingfu Wang, expressed confidence in EACON’s profitability potential.

“The successful operation of 203 unmanned mining trucks in a single mine is evidence of EACON’s profound expertise in automation. I believe EACON will rapidly achieve net profitability.” he says.

The General Manager of Shenyin&Wanguo Capital Management, stated that following a technological breakthrough, the subsequent phase involves large-scale commercialization—a process repeatedly validated across numerous ‘hard tech’ industries.

After visiting multiple mine sites with EACON’s autonomous trucks, he expressed strong confidence in EACON’s future, and he firmly believes that EACON’s AHS solution has reached maturity and is now poised for rapid scaling.

Lei Zhang, co-founder and chairman of EACON Mining Technology, says “the investment scenario in autonomous driving has shifted to a more rational and composed state. The recent backing from several top-tier institutions further solidifies EACON’s leadership in this industry.”

Alongside autonomy, EACON has developed the EACON 136, a hybrid electric + Drive-by-wire platform. A vehicle manufacturer partner produced and delivered 225 autonomous trucks, EL100, equipped with this platform, achieving up to 30% in maximum fuel savings.

“EACON will continue its dedication to advancing autonomous driving in mining applications, focusing on the productization of advanced technology and enhancing operational productivity. Simultaneously, EACON will steadfastly invest in engineering new energy systems for mining trucks.” says Zhang.

Looking forward, with an office established in Perth, Australia, EACON is poised to broaden its presence in additional overseas markets. The commitment remains strong to deliver to a safe, intelligent, and sustainable future for the global mining industry.

Contact: [email protected]

SOURCE EACON Mining Technology

LOS GATOS, Calif., Nov. 21, 2023 — Supira Medical, Inc., a Shifamed portfolio company, announced today that it has received U.S. Food and Drug Administration (FDA) breakthrough device designation for its Supira System, a next-generation percutaneous ventricular assist device (pVAD). This approval comes as the company closed $40M in Series D financing and prepares to initiate its U.S. clinical program. The financing was led by Cormorant Asset Management and The Capital Partnership (TCP), with participation from 415 CAPITAL, AMED Ventures, PA MedTech VC fund, Unorthodox Ventures and Shifamed angel investors. Funds will be used to expand Supira’s currently enrolling OUS studies, plan for its U.S. studies, and prepare for U.S. pivotal study submission.

“We are thrilled to have received breakthrough device designation and pleased to have the strong, continued support from our investors, both significant milestones for the company,” commented Dr. Nitin Salunke, President and CEO of Supira Medical. “Early clinical experience with the Supira System has demonstrated that physicians see tremendous clinical value in Supira’s low profile, high continuous flow design, including the system’s sensors intended to collect real-time aortic and ventricular pressures. I congratulate the team for engineering this differentiated solution that aims to provide a meaningful advantage for patients requiring hemodynamic support.”

“Although temporary mechanical circulatory support is common in the treatment of high-risk patients, challenges remain that limit physician adoption and patient access,” stated Bihua Chen, Founder and Managing Member of Cormorant Asset Management. “We are pleased to lead this round and believe that Supira’s technology has the potential to disrupt the standard of care for the large and growing HRPCI segment of the interventional cardiology market.”

About the Supira System
With a novel low profile, high continuous flow design, the Supira System aims to provide full hemodynamic support initially for high-risk percutaneous coronary interventions (HRPCI) and subsequently for cardiogenic shock (CS) patients with a single device platform. The Supira System features a 10F profile, designed to minimize vascular complications, and multiple sensors to provide real-time pressure measurements.

The Supira System is for Investigational Use Only and is not for sale in the U.S. or outside the U.S.

About Supira Medical, Inc.
Supira Medical is a privately held portfolio company of Shifamed, LLC., a highly specialized medical innovation hub founded by serial entrepreneur, Amr Salahieh. The company is focused on developing the next generation percutaneous ventricular assist device for use in high-risk patients undergoing interventional procedures. For more information, visit www.supiramedical.com.

MEDIA CONTACT:
Charlene Herndon
SPRIG Consulting LLC
[email protected]

SOURCE Supira Medical, Inc.

DRA partner Rose Vitale sees deal as opportunity to create value by backing a unique female founder

SAN DIEGO, Nov. 21, 2023 — DRA Family Office today announced that it has closed a seed funding round with Nicole Bryl Skincare, an early stage cosmetics venture founded by Nicole Bryl, a former celebrity makeup artist who is bringing her proprietary formulations to the public for the first time. For DRA Partner Rose Vitale, the deal represents an opportunity to create value by backing a unique female founder. Vitale has made a priority of allocating capital to women-owned businesses.

“Nicole really stood out to us as a founder,” said Vitale. “Her venture combines the potential for brand differentiation and breakout growth in a large, but very competitive market. We’re excited to be partnering with Nicole Bryl Skincare for success.”

With over 10 years of experience in financial services, Vitale has flipped conventional wisdom about investing in women-owned businesses. She built the largest network of Cricket Wireless stores in California’s Central Valley before establishing herself in the male-dominated family office space. She anticipates leveraging some of her hard-earned skills in scaling up businesses to help Nicole Bryl Skincare achieve growth.

According to Bryl, “I came to realize pretty quickly that Rose Vitale’s mission and mine were 100% aligned. Her mission is to empower woman by shifting and changing the flow of capital to woman-founded businesses, since typically 98% of the time those funds are allocated directly to men. Rose’s vision is that, as woman, we are our greatest assets to each other—and if we keep generating the flow of one woman uplifting and supporting another woman through business, entire ecosystems will begin to flourish.”

Bryl began her professional career as a makeup artist working with woman at the age of 14. Over the proceeding 38 years, much of her time has been spent supporting outstanding, powerful woman and their dreams, wishes, and hopes in a broad range of philanthropic capacities. Her clientele includes some of the most famous women in the world.

Nicole Bryl Skincare has launched at the high end of the skincare market. The company plans to expand into the consumer segment as it grows.

For more information about Nicole Bryl Skincare, visit www.nicoleskin.com

For more information about DRA Family Office, visit drafamilyoffice.com.

Instagram: @nicoleskinofficial

Press Contact:

Hugh Taylor
3103837041
https://www.commsfactory.net

SOURCE DRA Family Office

The funding will be used for R&D, customer growth and team expansion to further accelerate the company’s global presence after reaching $2M annual recurring revenue within 8 months

TEL AVIV, Israel, Nov. 21, 2023 — Munch, a leading AI-powered automation platform for social media, today announced their $7.2 million seed funding round. The round was led by A* Capital, supported by Liquid2 and Pre-Seed investors Cardumen Capital and Remagine Ventures. The investment will be focused toward company growth, increasing its reach into new global markets and expanding its offering to enterprises. Additionally, the funds will be allocated to further develop Munch’s solution helping content professionals seamlessly create and elevate short-form videos from existing long-form content increasing ROI.

The heightened social media demand has left content professionals with a labor-intensive, costly, and creatively draining process of manually producing content, making it difficult to find a place and engage in popular conversations. Munch reduces this burden by leveraging AI to streamline this resource intensive process with a platform that extracts engaging bite-sized clips from long-form videos that are primed for social media sharing in a matter of minutes.  Recent reports found that 90% of marketers using short-form content intend to increase or maintain their investment as using short-form content has the highest ROI of any media format.

Munch’s AI driven platform turns long-form marketing content into engaging and impactful clips for social media usage. It includes automatic editing, instant and precise subtitle generation, pre-scripted social media posts formulated through advanced AI technology and caters to a multilingual audience supporting over 20 different languages. Content is clipped and adjusted to always have the action at the center of the frame no matter what social media platform it will be shared on. This approach ensures a global reach for businesses looking to amplify the impact of social media strategy.

“Businesses and brands who successfully employ social media content strategies are seeing higher returns on their investments and improving their bottom lines,” said Oren Kandel, CEO and Co-founder of Munch. “With Munch, any business, small or large, with quality content can now reach more potential customers – a revolutionary approach when it comes to social media usage for marketing teams around the world. We are grateful for our investors’ trust and are eager to use the recent funds to expand our team and market presence, further entrenching Munch’s position as a leading AI platform for social media.”

The company’s clip generation engine analyzes video content against the latest social media trends and marketing insights to maximize its viewership. With Munch, single purpose videos, such as podcasts, webinars, and livestreams, can be transformed into a series of engaging clips with the potential to go viral. Not only does this novel approach to content production and distribution increase business ROI, but it minimizes the time-consuming process spent on tedious editing tasks and allows brands to focus on creative ideation and strategic planning while remaining relevant on social media with consistent, effortless, data-driven content.

“A* Capital is committed to helping entrepreneurs build impactful companies and Munch is a prime example of what we look for,” said Gautam Gupta, General Partner at A* Capital. “The rise of social media has turned the marketing landscape on its head and has created a need for cost-effective, time-saving solutions. Munch’s cutting-edge platform brings an innovative approach to content creation, and we see the potential for the company to help businesses globally go viral with the click of a button. We look forward to seeing Munch build on its achievements to date and can’t wait to see what’s next.”

Munch has reached over $2M ARR within 8 months and has over three thousand paying subscribers worldwide. The company has signed contracts with several major, well-renowned media giants as a primary short-form vendor.

About Munch

Munch is a cutting-edge automation platform to help businesses maximize their ROI on social media content. Leveraging AI, Munch effortlessly turns lengthy videos into bite-sized compelling clips for social media that engage audiences and keep brands at the forefront of digital trends. The company empowers content professionals to seamlessly produce content that aligns with today’s evolving media landscape. Founded in 2021 by Oren Kandel and Peter Naftaliev, Munch is headquartered in Tel Aviv, Israel. To learn more about Munch, visit https://www.getmunch.com/.

About A*

A* Capital is an early-stage venture capital firm partnering with entrepreneurs from the seed stage onward. The firm was founded in 2021 by Kevin Hartz, Gautam Gupta, and Bennett Siegel.

Media Contact

Mushkie Meyer
Headline Media
[email protected]
US: +1 914 336 4035
UK: +44 203 769 4034
IL: +972 53 612 1118

SOURCE Munch

New Research from BCG Finds That Emerging Technologies Are Now an Established Asset Class, with Almost No Difference in the Internal Rate of Return Between Traditional and Deep Tech Venture Funds

BOSTON, Nov. 21, 2023 — Deep technologies are technologies that aim to solve the world’s most complex problems such as climate change, food shortages, and disease. Today, deep tech claims a stable 20% share of venture capital funding, up from about 10% a decade ago, according to a new report and research from Boston Consulting Group (BCG).

The report, titled An Investor’s Guide to Deep Tech, outlines the deep tech landscape for investors looking to enter the field. Venture capital funding of deep tech fell from $160 billion in 2021 to about $105 billion in 2022 to $40 billion for the first half of 2023—close to 2020 levels. The drop roughly tracked the broader decline in venture funding that resulted from rising interest rates during this period. But the size of the average deep tech investment has significantly increased, with many now reaching $100 million or more. BCG analysis found that traditional and deep-tech-focused funds deliver similar unweighted internal rates of return (26% and 25%, respectively).

“Once confined to the domain of high-risk, high-return enthusiasts, deep tech has now migrated to the mainstream of venture funding,” said Antoine Gourévitch, a managing director and senior partner at BCG, and a coauthor of the report. “While requiring heightened levels of risk, capital, and patience compared with other asset classes, the markets unlocked by deep tech and the substantial returns realized by startups can be lucrative.”

Challenges Facing Investors

As deep tech investing involves backing technologies that are still developing their underlying science, considering potential markets, and drafting business plans, these investments take longer than other tech investments to mature—an average of 25% to 40% more time between funding each stage from seed capital through Series D. These ventures are also at greater risk of failure at each stage compared with other tech investments. It is also not uncommon, especially for larger funds that start investing in the early stages, to participate in multiple funding rounds. According to BCG’s survey of deep tech funds with more than $1billion in assets, an average of 42% of investments are multi-round. 

Four Main Areas Benefitting from Deep Tech Investment

BCG analyzed deep tech investments along two dimensions—technologies and use cases—in four areas of impact: climate and sustainability, demographics, technology, and security. Multiple technologies (such as digital AI, autonomous systems, and advanced physics and chemistry) and use cases (including mobility and logistics, energy and climate, and health and wellbeing) are attracting substantial shares. Cross-industry platforms, both physical and digital, are also popular funding destinations.

Countries’ Support of Deep Tech

The US and China lead the world in absolute share of deep tech funding provided, with more than 60% and 12%, respectively. Europe collectively has 14%. At the same time, BCG’s examination of deep tech funding as a share of GDP, shows that several nations—among them Israel, Sweden, the US, Singapore, and the UK—are aggressively trying to support deep tech development.

Determining a Clear Strategy

To invest in deep tech, investors need to start with a clear strategy that prioritizes the technology segments where they can build networks of expertise and partner ecosystem. The report outlines considerations for investors when prioritizing segments:

• Disruptive Potential. Which use cases can the selected technology redefine? How quickly are startups growing in this area?
• Investment Possibilities. How full is the pipeline of available investments based on the number of startups in the field and the deals currently being done?
• Time to Value: How mature is the technology? What are the remaining technological risks?
• Existing Capabilities. Does the fund have the capabilities and resources to leverage in the field? If not, what capabilities does it need to build? What is the level of difficulty?
• Ecosystem. What is the level and type of involvement of other players, such as governments and institutions, in the financing of startups?

“Because deep technologies target large and intricate global issues that cannot be solved overnight, the need for advanced technology solutions will only increase,” said Jean-François Bobier, a BCG partner and a coauthor of the report. “Now is the time for investors to engage in the deep tech arena. Those who do not understand the opportunities and don’t learn the ropes are missing an excellent means of diversifying their portfolios.”

Download the publication here:
https://www.bcg.com/publications/2023/deep-tech-investing

Media Contact:
Eric Gregoire
+1 617 850 3783
[email protected] 

About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

SOURCE Boston Consulting Group (BCG)

CHARLOTTESVILLE, Va., Nov. 20, 2023 — Rho Impact, developer of impact forecasting tools used by investors and companies managing trillions of dollars in assets, is excited to announce the successful completion of its $1.125 million pre-seed funding round. The round comprises technology investors, state-funded development agencies, social impact investors, and industry experts, including Preston-Werner Ventures (founded by Tom Preston-Werner, the co-founder of Github), Virginia Innovation Partnership Corporation (VIPC), 3rd Creek Ventures, the Charlottesville Angel Network, and veterans of the data and logistics industries.

Rho Impact partners with Prime Coalition to develop CRANE, a free tool used by over 4,000 investors and companies to estimate the emissions reduction potential of new technologies, and builds Gemini, an impact and ESG platform. Rho Impact serves both investors and operators, with clients as varied as Eclipse (a VC with ~$4B AUM focused on digitally transforming physical industries) and Gecko Robotics (AI-powered software and advanced robotics to ensure the reliability, availability and sustainability of the world’s critical infrastructure).

“This financing underscores the growing demand for transparent, data-driven solutions to meet global sustainability targets,” stated Gilman Callsen, CEO of Rho Impact. “I am thankful to add supportive early investors who are helping accelerate our progress.”

“Rho Impact’s seasoned team and impressive track record in emissions forecasting set them apart in the field. We are proud to back their mission and their approach to combining technology, robust frameworks, and experts to add consistency and clarity to otherwise messy and uncertain decisions,” says Tom Preston-Werner.

This funding marks an exciting chapter in Rho Impact’s journey. The company will leverage this capital to sharpen its focus on building the world’s most verifiable and auditable impact forecasting tools that help direct investment into the most promising solutions to address climate change.

For more information about Rho Impact and its emissions forecasting software, please visit https://rhoimpact.com.

About Rho Impact:
Rho Impact’s data and models contextualize the environmental impact of climate technologies using software and expert services. The company’s tools help investors and companies meet sustainability goals, navigate evolving ESG requirements, and make confident, auditable, impact-informed decisions. Trusted globally, Rho Impact empowers every organization to make an impact.

For media inquiries, please contact:

Xander Rothaus
Chief Marketing Officer
[email protected]

Charlottesville, VA 22901
RhoImpact.com

SOURCE Rho Impact

Medha Agarwal brings a wealth of experience to her role as a former operator turned investor. Medha will lead investments into companies from inception through Series A. With over seven years of venture expertise, she has led investments across vertical SaaS, fintech, marketplaces, and healthcare. Prior to joining Defy.vc, Medha was a Partner at Redpoint Ventures where she led investments in companies including Whatnot, Tend, Proper Finance and more. She started her venture career at Bessemer Venture Partners, having previously co-founded and built Roomidex and skedge.me after beginning her career at Bain & Company.

Amy Yin, Defy.vc’s newest Venture Partner, significantly bolsters the investment team. As founder & CEO of OfficeTogether, a former Defy portfolio company acquired by Envoy, Amy has firsthand experience as a founder. Her technical journey spans a decade, with engineering roles at Facebook and at Coinbase, where she was an Engineering Manager for Coinbase.com during the company’s hypergrowth. Amy has also been an active angel investor since 2017, with investments in Pave, Lumos, Gem, On Deck, and more. A Harvard graduate with a BA in Computer Science, Amy’s roots are in Onalaska, WI, and she carries the diligent spirit of her immigrant parents from China.

“The additions of Medha and Amy to our team mark a crucial step in continuing Defy.vc’s momentum as we actively invest from Fund III,” said Neil Sequeira, Founder & General Partner at Defy.vc. “Their expertise, networks, and experience will help drive our continued success as we work closely with great founders to build startups into category-defining industry leaders.”

Unique Approach

Defy.vc initially partners with founders from inception through Series A but is able to be supportive throughout the lifetime of a business with capital and offers deep hands-on collaboration throughout the entrepreneurial journey. The firm’s investments often originate from long-term relationships, forged over decades of operational and venture capital experience. Defy.vc invests across diverse categories, including enterprise SaaS, fintech, AI, healthcare, marketplaces, and consumer-oriented businesses.

Defy.vc’s commitment to startups extends beyond mere selection; the firm actively creates companies through its platform and hatch playbooks. The firm has created multiple platforms’, which are entities that create spin-out companies in a specific vertical area. Through its hatch endeavors, Defy.vc identifies new startup opportunities, develops initial business plans & prototypes, and collaborates with potential founders from their earliest stages, guiding them through the entire process of company creation.

Portfolio Momentum

In recent years, the Defy.vc portfolio has had numerous successful liquidity events and acquisitions by a number of companies including Patreon, Circle and HackerOne. The firm retains substantial stakes in prominent private companies, including Airspace, Apploi, Aalto, Bazaar and many other industry-defining market leaders.

Defy.vc is excited to welcome Medha and Amy to its team and anticipates that their unique experiences and expertise will further contribute to the firm’s growth and success.

About Defy.vc
Defy.vc is a leading early-stage venture capital firm dedicated to nurturing startups as they transition into category-defining industry leaders. Defy.vc takes pride in its longstanding relationships with entrepreneurs and its commitment to enhancing the venture ecosystem through creation and platform initiatives. The firm’s team has more than 50 years of venture experience, successful operating backgrounds, and actively assists successful entrepreneurs as they grow companies from inception through exit. Connect with Defy.vc at https://defy.vc/ and @defyvc.

Media Contact
Kelsey Cullen, KCPR
[email protected]
650.438.1063

SOURCE Defy Partners