💸 Anam Lakhani and Eve Halimi's Alinea Invest Raises $3.4M for its AI-Powered Wealth Management App
FemWealth Issue #144
Hi FemWealth Friends,
In today’s edition: Anam Lakhani and Eve Halimi’s Alinea Invest raises $3.4M for its AI-powered wealth management app focused on Gen Z women; Charlotte Guzzo’s Sano Genetics raises $11.4M to connect patients with pharmaceutical and biotech companies conducting clinical trials in precision medicine; Jennifer Wirt’s Coral Care raises $1.3M to connect parents to childhood development specialists; Michaela Berglund’s Feminvest aims to raise a 100M SEK (€8.8M) fund to invest in Nordic startups that are at least 50% female-owned; and more in women-led startups and VC.
Submit a deal, and share news tips and feedback at femwealth@substack.com.
In the Spotlight 💸
Co-founded and co-led by Anam Lakhani and Eve Halimi, Alinea Invest is a fintech app that offers AI-powered wealth management with a particular focus on Gen Z women. The New York-based company raised $3.4 million in Seed funding. F7 Ventures and GFR led the round, joined by Bri Kimmel’s Worklife Ventures, FoundersX Fund, Gaingels, and Dropbox co-founder Arash Ferdowsi.
“The pain point we saw is that people like us who are young women, Gen Zs, children of immigrants, they have no idea where to start. Financial literacy is a massive pain point across the United States. We wanted to build an alternate platform that was really personalized, taught you how to build your wealth, and did it for you.” - Anam Lakhani (via TechCrunch)
Read more: Gen Z investing app Alinea raises $3.4M, plans to launch an ‘AI copilot’
FemWealth Favourites ❤️
Startups: Sano Genetics raises $11.4M to advance precision medicine clinical trials - Co-founded by Charlotte Guzzo (COO), Sano Genetics connects patients with pharmaceutical and biotech companies conducting clinical trials in precision medicine. The UK-based company raised $11.4 million in a round led by Plural. Existing investors MMC Ventures, Episode 1 Ventures, and Seedcamp, also participated.
CEEZER gets a €10.3M funding boost AI-driven carbon credit platform - Co-founded by Dr. Carla Woydt, Berlin-based CEEZER’s platform enables companies to screen, purchase and manage negative emissions for quality. It raised €10.3 million in a Series A round led by HV Capital. Existing investors Norrsken VC, Picus Capital, and Carbon Removal Partners also participated.
Better Stack unintentionally reaches profitability, adds $10M to continue growth - Co-founded by Veronika Kolejak, the Prague-based startup helps software developers ship better and more reliable code faster. It raised $10 million in new capital from existing backer KAYA and angel investors.
Illuminate leads $6.5m round of SG automation startup Bluesheets - Co-founded by Clare Leighton, Bluesheets is a Singapore-based data processing automation platform. It raised $6.5 million in a Series A round led by Illuminate Financial. Existing investors Insignia Ventures Partners, Antler, and 1982 Ventures also participated.
Nest Collaborative Secures $6M in Series A Funding to Scale Its Virtual Lactation Support Platform - Led by Judith Nowlin and co-founded by Amanda (Watters) Gorman, Nest Collaborative is a telehealth platform specialising in lactation support. The US-based company announced a $6 million Series A funding round led by Altitude Ventures and supported by Bread & Butter Ventures, Carnrite Ventures, Connecticut Innovations, Hustle Fund, and Wavemaker 360.
Being Health Raised $5.4M for its Integrated Modern Mental Health Practice - Co-founded by Chief Medical Officer Dr. Allie Sharma, US-based Being Health is a modern mental health practice combining psychiatry, psychotherapy, novel treatments, wellness, and functional medicine in-person and via telehealth. 18 Park and HDS Capital co-led the company’s $5.4 million investment round.
Dutch-based Spotr raises €4.5M to build the world’s largest image-driven property database - Co-founded by Tara Campagne and Marieke Dijksma, the Netherlands-based Spotr.ai uses image recognition and Artificial Intelligence (AI) to gather and maintain asset management data. It secured €4.5 million in a fresh round of funding from EDF Pulse Ventures, Volta Ventures, and InnovationQuarter.
Naq raises €3M to boost healthcare compliance in UK and EU - Co-founded and co-led by Nadia Kadhim, the Netherlands and UK-based Naq aims to automate and simplify healthcare and MedTech compliance. It raised €3 million in funding from No Such Ventures and existing investors.
ViralMoment Raises $2.5M in Seed Funding - Founded and led by Chelsie Hall, US-based ViralMoment provides AI-powered social video insights and analytics solutions. It raised $2.5 million in Seed funding led by Supernode Global and joined by Crush Ventures, Duo Partners, Carnegie Mellon University, and Techstars.
Metris Energy’s AI solar platform for commercial properties raises £2M Pre-Seed - Co-founded by ex-Octopus VC Natasha Jones, Metris Energy provides an end-to-end platform that streamlines and automates solar energy for commercial property owners. It raised £2 million in a Pre-Seed round led by Octopus Ventures and Aenu VC.
3Daughters Secures Over $2M in Seed Funding for Novel IUD Development - Co-founded by Mary Beth Cicero (CEO) and Shelley Amster (Chief Strategy & Growth Officer), 3Daughters is a clinical development company on a mission to develop a new intrauterine device (IUD) for contraception. It closed over $2 million in the initial phase of its Seed funding round. Thairm Bio led the round supported by the Argosy Foundation, Wexford Science and Technology, UMass Amherst, and other undisclosed investors.
Utrecht-based Eddy Grid lands €1.5 million to accelerate the fight against grid congestion - Co-founded by Emma Wolthuizen, the Netherlands-based energy storage startup combining batteries with energy management software. It raised €1.5 million in a funding round led by Graduate Entrepreneur Fund and Herberth Samsom. Rockstart and Volve Capital also joined.
Amsterdam-based Sirius lands €1.2 million to bring new energy to to the traditional metals and mining industry - Co-founded and led by Anastasia Kuskova, Sirius is developing an AI “sustainability twin” for the metals and mining industries. It raised an oversubscribed €1.2 million Pre-Seed round from Fund F, BlackWood, WEPA Ventures, Techstars, and select angels.
Coral Care links parents to child development specialists - Founded and led by Jennifer Wirt, US-based Coral Care offers a platform that connects parents to childhood development specialists. It raised $1.3 million from Reach Capital, Greymatter Capital, and Purpose Built Ventures.
Diva’Me Raises $1M Pre-Seed Funding to Advance Menstrual Health in Dubai and Beyond - Co-founded by Nadine Audi, Dubai-based Diva-Me raised $1 million in Pre-Seed funding to revolutionize women’s health by advancing societal norms surrounding menstruation and offering innovative, technology-driven solutions. Verde led the round.
Thankful Registry continues its emphasis on thoughtful gift giving - Led by Kathy Cheng, Taipei-based Thankful Registry aims to become the world’s most popular universal gift registry and wishlist. The startup founded in 2013 is bootstrapped.
“Gifts really touch so many parts of our lives. We just want to make it as easy and thoughtful as possible.” - Kathy Cheng (via TechCrunch)
VC: AC Ventures closes its new $210M Indonesia-focused fund - Led by Managing Partner Helen Pei-Hua Wong, AC Ventures, a Jakarta, Indonesia–based venture firm raised $210 million for its fifth fund. It aims to back startups in areas such as environment, health, society, and knowledge. Fifty percent of the firm’s leadership are women, and 41% of C-level leaders across its portfolio are also women.
UK’s Vectr7 to invest $25M in European climatetech startups - Co-founded and co-led by Managing Partner Mary Criebardis Sing, the UK-based fund plans to raise a total of $25 million to back companies across Europe with a specific focus on GHG capture or avoidance in real estate, infrastructure, transport, and utilities.
Who cares if the CEO is a man if the company is +50% owned by women? - Founded and led by Michaela Berglund, Feminvest, a Swedish community and investment network, aims to raise a 100 million SEK (€8.8 million) fund to invest in Nordic startups that are at least 50% female-owned.
Cherry Ventures’ new partner: Dinika Mahtani's impact on UK investment strategy - Dinika Mahtani (former UberEats EMEA executive), an operator-turned-investor became Cherry Ventures’ newest partner. She will continue to lead the firm’s UK investment strategy.
Sports: Women’s football will generate over €500m in 2024 – and the only way is up
“Significant levels of financial growth were recorded in the 2022-23 season across the top tiers of European women’s football. A rise in the number of women’s matches playing at clubs’ main stadiums boosted matchday revenues, and increased viewership and individual partnerships helped to accelerate the commercialisation of the game.” - Amy Clarke, women’s sport lead in Deloitte’s Sports Business Group
What I’m Reflecting On 💭
New UK rules will drastically lower the number of women able to angel invest in startups - The UK government is planning to update the nearly 20-year-old legislation around angel investing, raising the income bar to £170k (in line with the inflation rate). According to the angel syndicate Alma Angels and HERmesa, the new rules will significantly impact female angel investors. Here you can sign the open letter calling the UK government to reassess its plans.
“If the government cares about allocating more capital to women-led businesses and capturing diverse voices across the UK to fund the companies of the future, it must encourage the participation of diverse angels rather than hinder it.” - Roxane Sanguinetti and David Fogel, Alma Angels (via Sifted)
Is a lack of diversity holding back the fashion industry? - The inaugural Fashion Diversity, Equality and Inclusion (DEI) report shows that in British fashion, only 9% of executive and 11% of “power roles” (incl. chief executive, chief financial officer, chair and creative director positions) are held by people of colour; women occupy 39% of executive teams and 24% of power positions.
Inspirational Quote ✨
“Tell me, what is it you plan to do
with your one wild and precious life?”- Mary Oliver, American poet
Thank you for reading FemWealth! 🥰 If you enjoyed this edition, please share it with a friend.
Until next Sunday,
Anamaria
Founder & Writer of FemWealth