💸 Neha Govindraj's Bonside Launches $5M Fund to Finance Brick-and-Mortar Businesses
FemWealth Issue #133
Hi FemWealth Friends,
In today’s edition: Neha Govindraj’s Bonside launched a $5 million fund to back brick-and-mortar businesses; co-led by Managing Partner Emmalyn Shaw, San Francisco-based Flourish Ventures secured $350 million in capital to back fintech companies in the US and emerging markets; Icelandic women’s strike over equal pay; Taylor Swift’s net worth reached $1.1B; and more in women-led startups, and VC.
In the Spotlight 💸
Founded and led by Neha Govindraj (previously co-founder of Glowbar, a chain for facials), Bonside is a fintech startup that finances brick-and-mortar businesses.
The US-based company announced its second funding vehicle, a $5 million fund called Premiere II. It will write cheques of $250,000 in exchange for a percentage of businesses’ revenue.
“We’re here, we’re actually going to do this, and we are going to create an industry around this. […]
“There’s been so much celebration around hockey-stick growth and the software businesses of the world. The reality is they make up less than 1% of the world. So what about the other 99% of businesses?” - Neha Govindraj, Founder and CEO of Bonside (via Fortune)
Read more: A 30-year-old founder debuts a $5 million fund for her second startup that finances brick-and-mortar stores in a new way (Fortune $)
FemWealth Favourites ❤️
Startups: BBVA Spark backs Twinco Capital with €50M for sustainable supply chain finance - Founded by Sandra Nolasco and Carmen Marin, Spanish green fintech Twinco Capital secured a €50 million debt facility from BBVA Spark to provide sustainable supply chain finance solutions to European SMBs.
Singapore-based fintech YouTrip picks up $50M led by Lightspeed - Co-founded and led by Caecilia Chu, YouTrip enables users to pay for goods and services in over 150 currencies. It raised a $50 million Series B round led by Lightspeed.
AgentSync raises $50M more in a massive Series B extension (TechCrunch+ $) - Co-founded by Jenn Knight (CTO), AgentSync builds modern insurance infrastructure that connects carriers, agencies, MGAs, and producers. It announced a $50 million Series B extension led by existing investors Craft and Valor.
GGV Capital US backs Arteria AI’s digital makeover for financial document creation - Co-founded and led by Shelby Austin, Arteria AI is building a data-first approach to modern documentation infrastructure. The Toronto-based company secured a $30 million Series B financing round led by GGV Capital US, with participation from existing investors, including Illuminate Financial, Information Venture Partners, BDC Capital, and Citi.
Greater Good gets $20M for value-based senior clinics (Axios Pro $) - Founded and led by Sylvia Hastanan, Greater Good is a California-based provider of primary care for seniors. It raised $20 million in Series A funding. Flare Capital Partners led the round, joined by LRVHealth, Health Velocity Capital, Martin Ventures, and Optum Ventures.
Nomad Homes adds software for real estate agents following $20M capital infusion - Founded and led by Helen Chen, Nomad Homes is a marketplace for residential real estate listings across Europe and the Middle East. The company closed on $20 million in Series A extension capital in a round led by Acrew Capital, joined by 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures, Knollwood, and several undisclosed hedge funds.
$20M in funding and second AI-powered robotic greenhouse for zordi (Horti Daily $) - Co-founded by Gilwoo Lee, the Boston-based autonomous greenhouse developer raised $20 million from investors including Khosla Ventures.
Oxolo bags €13M for Gen AI-driven video platform which can optimise engagement on the fly - Co-founded by Elisabeth L’Orange (CCO), Hamburg-based Oxolo is building a deep tech platform for generative AI-based media. The company raised a €13 million Series A funding round led by DN Capital.
Twelve Labs is building models that can understand videos at a deep level - Co-founded by Soyoung Lee, the San Francisco-based startup trains AI models to “solve complex video-language alignment problems.” The company secured a $10 million strategic funding round from Nvidia, Intel, and Samsung Next.
The Landbanking Group raises $11M in Seed funding for eco-fintech platform - Co-founded and led by Dr. Sonja Stuchtey, Munich-based startup The Landbanking Group raised $11 million and launched an eco-fintech platform to provide nature equity assets for various sectors. BonVenture and André Hoffmann led the round, which included participation by 4P Capital, Vanagon, Planet A, the SUN Institute of the Deutsche Post Foundation, and angel investors and family offices.
WSense raise €9M for underwater wireless communication ‘harnessing the ocean’s untapped potential’ - Founded and led by Chiara Petrioli, the Italian IoT startup developed underwater ‘wifi’ for critical infrastructure monitoring and environmental protection. SWEN Blue Ocean led the round, with additional support from CDP Ventures, RunwayFBU, Axon Partners Group, Katapult Ocean, CoreAngels Climate, and Moonstone.
Flash Pack bounces back from bankruptcy with a bang; bags €5.8M - Founded by Radha Vyas, Flash Pack is an adventure travel company for solo travelers in their 30s and 40s. It secured $6.2M (€5.8M) in a funding round led by JamJar Investments, with support from existing Czech investment firm PPF Group.
Generative AI startup 1337 (Leet) is paying users to help create AI-driven influencers - Co-founded and led by Jenny Dearing, 1337 (pronounced Leet), leverages generative AI to build a community of AI-driven micro-influencers who want to connect to people from niche communities (e.g., gardening, vintage fashion, classical literature, etc.). The startup emerged from stealth with $4 million in funding from investors including Credo Ventures, GFR Fund, Treble Capital, Roosh Ventures, and angels.
“Today, we have a rare opportunity to combine human interaction with early-stage AI. In a world oversaturated with influencers who are often either too commercial or too impersonal, 1337 introduces diverse, AI-driven entities that engage users in entirely new, dynamic ways.” - Jenny Dearing, Co-founder and CEO (via TechCrunch)
Harvest Thermal taps $4M seed round to make heat pumps cheaper to run [TechCrunch+ $) - Co-founded and led by Jane Melia, the California-based company offers a cloud-connected IoT device that provides affordable and low carbon heating, hot water and cooling systems. The company closed a $4 million early-stage round led by Earth Foundry with participation from MUUS Climate Partners, Starshot Capital, and Portfolia.
Byterat nabs $4M seed round to collect and analyze data for battery labs (TechCrunch+ $) - Co-founded and led by Penelope Jones, Byterat is a SaaS company that works to streamline battery R&D by automating data collection and analysis.
Lab-grown leather scales up as Gozen raises $3.3M from Happiness Capital, SOSV, and others - Founded and led by Ece Gozen, Gozen is a San Francisco-based developer of lab-grown leather. It raised $3.3 million in Seed funding in a round led by Happiness Capital, joined by Accelr8, Astor Management, and SOSV.
‘Big Bang Theory’ star Kaley Cuoco raises $3 million to build ‘the Honest Company for pets’ (Fortune $) - Co-founded by actress and activist Kaley Cuoco and Katie Hunt (CEO) announced a $3 million Seed round. JOBI Brands, Midnight Venture Partners, Everywhere Ventures (The Fund), Freedom Trail Capital, and angel investors participated in the round.
Stealthy social commerce startup taps into Meta roots to create AI-first brand messaging - Co-founded by sisters Misbah Uraizee and Farah Uraizee, Nectar AI aims to provide direct-to-consumer and e-commerce brands with an easier way to connect with consumers. The US-based company closed a $2 million Pre-Seed round led by Flying Fish Ventures, including BAM Ventures, Trust Fund’s Sophia Amoruso, XRC Ventures, Fab Ventures, Yale Index Ventures, CMDN, Dash VC, and angel investors
UK’s biotech firm ImmuOne bags €2.2M to scale up 3D human lung model for drug testing - Co-founded by Dr Abigail Martin and Professor Victoria Hutter, the biotech company developed a 3D human lung model to replace animal testing. It raised €2.2 million in funding from MEIF Proof of Concept & Early Stage Fund, EIS funds, and Pioneer Group.
Berlin's Likeminded secures additional €1.5M for digital mental health solutions - Co-founded and co-led by Kimberly Breuer, Berlin-based healthtech startup Likeminded, raised an additional €1.5 million to expand its B2B digital mental health solutions. IBB Ventures and the family office N & V Capital provided the funding.
50inTech believes it’s time to measure diversity with KPIs - Co-founded and led by Caroline Ramade, France-based 50inTech is building a software-as-a-service product to help startups measure diversity with concrete metrics and identify the immediate changes that can lead to improvements. The company raised a $1.6 million (€1.5 million) Seed round from Inco Investissements, Evolem, Super Capital, Altalurra, AIV Ventures, and business angels.
Coach’s knitwear supplier bets $1M on Jellibeans’ fashion prediction tech - Co-founded and led by Joanne Chow, Jellibeans aims to “democratise access to unique data uncovering the latest fashion trends from the world’s hottest brands.” High-street knitwear supplier Aussco invested $1 million in the company.
Pirr raised an angel round to help you co-write erotica with an AI - Co-founded by Anna Wallander (CEO) and Beatrice Bushati (COO), Pirr enables users to generate erotic narratives with the help of AI. The company raised a $430,000 angel round, which included participation from angel investors across Silicon Valley, New York, and London.
Blockchain startup Micapass tackles crypto money laundering with €240,000 investment - Co-founded and led by Gintarė Košubienė, the Vilnius-based startup Micapass aims to enhance KYC practices in DeFi protocols and web3. Lithuanian innovation lab Super How? and Baltics accelerator and VC fund Firstpick provided the funding.
VC: Flourish Ventures, a ‘fintech venture fund with a purpose,’ secures $350M in new capital - Co-founded by Managing Partner Emmalyn Shaw, San Francisco-based Flourish Ventures is an early-stage venture firm investing exclusively in fintech companies in the U.S. and emerging markets.
1315 Capital Closes Two Funds, Raising over $500 Million to Invest in Commercial-Stage Healthcare Companies - Founded by Adele Oliva, the US-based investment firm provides growth capital to commercial-stage healthcare services, pharmaceutical and medical technology outsourcing, medical technology, and health and wellness companies.
German LP KfW Capital launches €200m ‘emerging managers facility’ to boost diversity in VC - The initiative - financed by the German government’s Future Fund - will invest in VC funds with €50 million in assets under management that are managed by women or gender-diverse teams. To be eligible, firms must have headquarters in Germany or Europe, and be industry-agnostic. Selected firms will receive a maximum of €12.5 million and no more than 25% of the fund’s total size.
Women’s Health: This biotech CEO decided to take her own (fertility) medicine - Features Dina Radenkovic, Co-founder and CEO of Gameto, a US-based company on a mission to redefine female reproductive health
Gender Equality: Iceland PM joins crowd of 100,000 for full-day women’s strike - In Reykjavík, over a quarter of the population attended women and non-binary people’s strike over pay equality and action on gender-based violence. PM Katrín Jakobsdóttir joined and emphasised she wants the nation to achieve full gender equality by 2030.
Women’s Wealth: Taylor Swift Vaults into Billionaire Ranks with Blockbuster Eras Tour (Bloomberg $) - Bloomberg estimates Taylor Swift’s net worth at $1.1 billion.
“She’s one of the few entertainers to reach that status based on music and performing alone, the result of work and talent, but also canny marketing and timing” - Bloomberg Wealth
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Until next Sunday,
Anamaria
Founder & Writer of FemWealth