💸 Casey Caruso's Topology Ventures Launches $75M First Fund
FemWealth Issue #189
Hi Friends,
In the Spotlight 💸
Founded and led by solo GP Casey Caruso, Topology Ventures, a San Francisco VC firm, raised a $75 million first fund to invest in “frontier tech” startups across AI, decentralized networks, neuro-technology, aerospace, and robotics. Cendana Capital and Accolade anchor the fund.
“Tech is changing so fast that if you don’t fully understand it, you kind of just lose the plot.” - Casey Caruso
FemWealth Favourites ❤️
Nvidia, AMD and Intel Invest in Startup Bringing Light to Chips (Bloomberg $) - Co-founded by Alex Wright-Gladstein, Ayar Labs designs optical interconnect solutions that use light to transfer data between computer chips. The San Jose, California-based company secured a $155 million Series D round at a $1+ billion post-money valuation. Advent Global Opportunities and Light Street Capital co-led the round, with additional support from AMD Ventures, Intel Capital, NVIDIA, 3M Ventures, Autopilot, Applied Ventures, Axial Partners, Boardman Bay Capital Management, GlobalFoundries, IAG Capital Partners, Lockheed Martin Ventures, Playground Global, and VentureTech Alliance.
Cala Health raises $50M to spark growth of its wearable hand tremor therapy - Led by Deanna Harshbarger, Cala Health develops wearable neuromodulation therapies to reduce hand tremors in individuals with essential tremor and Parkinson’s disease. The San Mateo, California-based startup raised a $50 million round co-led by Vertex Growth Fund and Nexus NeuroTech Ventures. Action Potential, Johnson & Johnson Innovation, Lightstone, Lux, GV, OSF Ventures, Ascension Ventures, TriVentures, Reimagined Ventures, Peak6, and Fiscus also contributed.
Aqemia raises $38M to find new drugs by meshing theoretical physics with GenAI - Co-founded by Emmanuelle Martiano-Rolland, Aqemia leverages quantum-inspired physics algorithms to power generative AI in designing novel drug candidates. The Paris-based pharma tech startup raised $38 million in a funding round led by Cathay Innovation and joined by Wendel, Bpifrance Large Venture, Eurazeo, and Elaia.
Noema Pharma extends Series B financing round, closing at CHF 130 Million ($147 Million) - Led by Ilise Lombardo, MD, Noema Pharma is a clinical-stage biotech targeting central nervous system disorders. The Basel, Switzerland-based startup closed €36 million in a Series B extension round led by EQT Life Sciences and joined by Forbion, Jeito Capital, Sofinnova Partners, Gilde Healthcare, Polaris Partners, Invus, and UPMC Enterprises.
Uptale raises 9 million euros to deploy its immersive virtual training courses (in French) - Co-founded by Aurélie Truchet, Uptale enables companies to improve the learning efficiency of their employees by using Immersive Learning. The Paris-based startup raised €9 million from Arkéa Capital and Go Capital.
Mozi is a new social media app for people who don’t want a new social media app - Co-founded and led by Molly DeWolf Swenson, Mozi helps people connect with their friends in real life. The US startup raised a $6 million round from Obvious Ventures, WndrCo, and BBG Ventures.
Drug Delivery Platform BioSapien Raises $5.5M In Pre-Series A Funding Round - Founded and led by Khatija Ali, BioSapien is a drug delivery platform specializing in localized cancer treatment. The San Diego, California startup announced $5.5 million in a Pre-Series A round led by Global Ventures, with Dara Holdings.
Laam lands $5.5M to provide South Asian fashions to migrants around the world - Co-founded by Noor Us Sahar Arif, LAAM is a Southeast Asia fashion marketplace. The Lahore, Pakistan and Seattle, US-based startup raised $5.5 million in Seed funding co-led by Disrupt.com and Zayn VC and joined by Graph Ventures, Mentors Fund, and others.
YC-backed Finny is using AI to match financial advisors with prospects - Co-founded by Eden Ovadia and Victoria Toli, Finny is a prospecting platform for financial advisors. The New York City-based startup raised $4.3 million in a Seed round co-led by Maple VC and HNVR. Crossbeam Ventures, Liquid 2, Y Combinator, and others also contributed.
Dutch deeptech CarbonX closes €4M funding to develop sustainable graphite alternative - Co-founded by Daniela Sordi, CarbonX produces carbon black plants for graphene production. The Amsterdam-based startup raised €4 million in a round led by Energy Transition Fund Rotterdam, Innovation Industries, and Borski Fund.
HiringBranch Secures $5M to Scale the World’s First Soft Skills AI - Co-founded by Patricia Macleod, HiringBranch provides an AI-powered soft skills and communication hiring assessment platform. The Montréal startup raised a $3.5 million (CA$ 5M) Series A round led by Crédit Mutuel Equity, with participation from Export Development Canada and Anges Québec.
MoldCo Emerges From Stealth to Help Individuals Facing the Massive, Neglected Public Health Crisis of Mold - Founded and led by Ariana Thacker, MoldCo provides accessible and evidence-based care, treatments, and lab testing for mold toxicity, digitally. The Boston-based startup raised $3 million in Pre-Seed funding from Starship Ventures, SALT, Conscience VC, Boost VC, Night Ventures, Bleu Capital, Behind Genius Ventures, and Moth Fund.
Mental Health Platform for Asian Americans Anise Health Raises $3M Seed Round - Co-founded and led by Alice Zhang and Nisha Desai, Anise Health provides online mental health services tailored to the cultural experiences of Asian Americans. The New York startup raised a $3 million Seed round led by Kicker Ventures, with participation from Authentic Heart, Change Paradox Ventures, Progression Fund, How Women Invest, Celtic House Asia Partners, Nextblue, Gold House Ventures, and angel investors. The round also includes a grant from the National Institute of Mental Health.
YC-backed Zimi raises $2M to help international merchants easily sell in the U.S. - Co-founded by Audrey Djiya, Zimi is a cross-border e-commerce platform that helps businesses from emerging markets such as African countries sell products in the US. The New York startup raised a $2 million Seed round led by Fearless Fund, with support from Y Combinator.
Uplift360 targets niche materials recycling - Co-founded by Sam Staincliffe, Uplift360 develops recycling technologies for advanced industrial materials. The UK and Luxembourg-based company raised €1 million in Pre-Seed funding led by Promus Ventures and joined by Twin Track.
The founders of SlideShare are making sharing docs more social with their new platform, Jaunt - Rashmi Sinha (CEO) launched Jaunt, a new social document-sharing platform. The San Francisco company is currently bootstrapped.
VC: Trucks Venture Capital raises $70M for Venture Fund 3 (Axios Pro $) - Co-led by General Partner Kathryn (Kate) Schox, Trucks Venture Capital is a San Francisco Seed stage venture capital firm focused on the future of transportation. It recently launched its $70 million third fund.
A new $25M fund aims to give UK mental health startups a shot in the arm - Led by founding General Partner Dr. Pooja Sikka, the Innovations in Mental Health (IMH) Fund, delivered in partnership with the South London and Maudsley NHS Foundation Trust (SLaM) aims to help scale mental health startups. The new fund secured around half its £20 million target and plans to close in 2025. It will invest cheques of £250k-1 million.
Solo GP Sarah Drinkwater closed £10 million for Common Magic, her first fund, from LPs including Isomer, Allocator One, Atomico, LocalGlobe, and Seedcamp. The fund will invest in European and US companies at the Pre-Seed and Seed stages building products with a community focus. It aims to back 30 startups with cheques of £100k-150k. [via Sifted]
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Until next Sunday,
Anamaria
Founder & Writer of FemWealth