Author: Connie Loizos

Rothy’s just landed $35 million Goldman Sachs to sell more of its popular ballet flats

TECHCRUNCH Rothy’s, a three-year-old, San Francisco-based company that makes colorful ballet flats and sneakers, has some more walking-around money today. According to Bloomberg, the company just closed on $35 million in funding from Goldman Sach’s asset management unit. The round brings the young company’s total funding to $42 million, including an early $5 million investment from Lightspeed Venture Partners, and $2 million in convertible notes, including from Finn Capital Partners, M13 and Grace Beauty Capital. Goldman’s interest in the company isn’t surprising. Rothy’s doesn’t disclose how many pairs of shoes it has sold, but the company tells Bloomberg that it expects...

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Abacus has attracted $2 million from YC, Justin Kan, and Coinbase to help startups and investors manage tokenized liquidity programs

TECHCRUNCH For the crypto market to become attractive to institutional investors, companies and their investors need to ensure that tokenized securities — digital assets subject to federal security regulations — can be as easily tracked and traded and exchanged as traditional stock shares. Abacus, a young company that passed through Y Combinator this past summer, think its technology can make it so. According to the picture painted by Abacus founder and CEO Pradyuman Vig, Abacus can both automate compliance for tokenized security transactions, and keep track of the chain of custody of private securities, making it simple for the...

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California says all city buses have to be emission free by 2040

TECHCRUNCH On the heels of a dire government report published last month about climate change and its devastating impacts, many cities and states are scrambling to find ways to curb the greenhouse gas emissions that threaten their air quality, not to mention their economies. As is often the case, California is leading the charge, yesterday becoming the first state to mandate that mass transit agencies purchase fully electric buses only beginning in 2029, and that public transit routes be populated by electric buses alone by 2040. The new rule will is expected to require the production and purchase of...

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Basis, backed with $133 million from top VCs to build a price-stable cryptocurrency, says it’s shutting down and returning the money

TECHCRUNCH Earlier this year, we told you about a now 18-month-old, Hoboken, N.J.-based cryptocurrency startup working on a “stable coin” whose elastic supply would ostensibly expand and contract to keep its value at about a dollar instead of all over the map. The company’s big idea: to develop a new token that people would actually use, instead of use to speculate. Investors — a lot of them — fell in love with the concept. In fact, eight months ago, Basis landed $133 million in funding from Bain Capital Ventures, GV, longtime hedge fund manager Stan Druckenmiller, one-time Federal Reserve...

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Zymergen lands $400 million more for its genetically altered microbes, led by SoftBank Vision Fund

TECHCRUNCH Zymergen, a five-year-old company that manufacturers molecules for a wide array of uses and industries, has closed on $400 million in Series C funding led by one of its earlier investors, the SoftBank Vision Fund. Even in a world where triple-digit million-dollar rounds have become de rigueur, the amount stands out, as does the company, which occupies a 301,000-square-foot campus in Emeryville, Ca. and has been growing like gangbusters. How? By engineering yeast and bacterial strains for outfits across the pharmaceutical, food and agricultural, specialty chemical, and electronics industries. Its objective is typically the same: to engineer tiny...

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Bowery, an indoor farming startup, raises $90 million more, including to counter a SoftBank-funded rival

TECHCRUNCH When in July of last year, Softbank’s Vision Fund led a whopping $200 million round in the Silicon Valley startup Plenty, investors behind a competing indoor farming startup across the country, New York-based Bowery, were left reeling. Just one month earlier, they’d closed on a round that brought Bowery’s total funding to $31 million. As one of Bowery’s backers told us in the immediate aftermath of Plenty’s enormous round, SoftBank’s involvement “definitely gives you pause.” Its involvement has not, however, prompted investors to give up. On the contrary, Bowery just today announced that it has raised $90 million...

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L.A. gets more moolah, thanks to Calibrate Ventures and its new, $80 million fund

TECHCRUNCH Two years ago, a couple of VCs from Shea Ventures, a 50-year-old, L.A. -based investment firm, banded together to create a Pasadena, Ca.-based early stage venture firm called Calibrate Ventures. Investors clearly like what they’re building. Firm founders Kevin Dunlap and Jason Schoettler are today announcing that they have closed their debut effort with $80 million in capital commitments, including from Shea Ventures itself and from Foundry Group, the Boulder, Co.-based venture outfit that began dedicated a portion of its own capital to investing in other early-stage venture funds in 2016. (Both Foundry and the Bay Area-based venture...

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Online liquor store Drizly just landed $34.5 million in fresh funding

TECHCRUNCH Apparently, a lot of people realize at the last minute that they don’t have either beer, wine, or liquor in their home when they need it. It’s certainly the most obvious explanation for a sizable new round of funding into Drizly, a six-year-old, Boston-based on-demand delivery app for alcohol that works with roughly 1,000 brick-and-mortar liquor stores across the U.S. and Canada to deliver spirits to customers in what it says is less than an hour. Indeed, according to a new SEC filing, the company has just locked down $34.5 million in funding, which roughly doubles the company’s...

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