Applications for San Francisco (Batch 12) extended AGAIN through September 30th, 2021!

SOSV’s Perfect Day raises $350 million, reaches $1.5 billion valuation

The Wall Street Journal broke an exclusive on Perfect Day’s big fund raise and planned IPO. Perfect Day launched in Cork, Ireland in 2014 as part of SOSV’s now retired Rebel Bio program, and SOSV was its first investor. From the Wall Street Journal story:

“Perfect Day Inc. raised $350 million in a late-stage funding round, valuing the non-animal dairy startup at roughly $1.5 billion and setting the stage for an initial public offering.

“Singapore’s Temasek and Canada Pension Plan Investment Board led the Series D funding round for the California company, co-founders Ryan Pandya and Perumal Gandhi told The Wall Street Journal. Other investors include Walt Disney Co. Executive Chairman Robert Iger.

“Since its founding in 2014, Perfect Day, which uses fermentation technology to produce animal-free dairy proteins and counts actor Leonardo DiCaprio as an adviser, has raised $750 million.”

IndieBio’s New Age Meats raises $25 million series A

To stand out in the increasingly crowded cultured-meat market, Berkeley-based New Age Meats, an IndieBio alum, aims to provide “the best of both worlds: the sensory experience and irreplaceable flavor of meat that’s safer and more sustainable than conventionally-grown meat.” That message helped the company raise a $25 million series A, according to a story published in TechCrunch today.

TechCrunch reported that Hanwha led the round and was joined by SOSV’s IndieBio, TechU Ventures, ff VC, and Siddhi Capital. CEO Brian Spears told TechCrunch that the company can now “go after our mission to become the largest and most innovative meat company on Earth,” and plans produce the company’s first product, pork sausage, next year.

SOSV HAX alum Opentrons raises $200 million, reaching $1.8 billion valuation

IndieBio’s fellow startup development program, HAX, just recorded a big win, as reported by Bloomberg in “SoftBank Invests in Robotic Company Behind NYC Covid Testing. HAX alum Opentrons Labworks Inc. raised $200 million in round led by Softbank to reach a valuation of $1.8 billion. The Brooklyn-based, laboratory robotics company used its automated systems to decrease Covid-19 testing result times from 14 days to 24 hours and reduced test costs from $2,000 to $28. Opentrons “has grown to support a community of more than 1,000 scientists and 46 countries.” Other participating investors in the funding include Khosla Ventures and ex-Pfizer Inc. CEO Jeff Kindler.

“Biology opens the door to solve many of humanity’s grand challenges. For far too long, scientists and clinicians have been locked-in by slow, expensive, and overly complex lab solutions that underpin their work.” —Brennan-Badal, Chief Executive Officer, Opentrons

Join IndieBio at the SOSV Climate Tech Summit

Since its founding, IndieBio has worked with biotech startups addressing the biggest challenges in human and planetary health. “Planetary health” isn’t merely a tagline, but a new reality that IndieBio companies have created by rewriting the way we make food, design materials, and utilize waste streams. The need to mitigate human-made climate change through novel technologies has never been more clear to anyone who has followed the news and observed the new norm of extreme weather.

IndieBio is joining its parent firm SOSV for an event all about climate tech. The SOSV Climate Tech Summit will be produced in conjunction with other VCs who have committed to using capital to build a better planet. Join top founders, investors, and policymakers to discuss how to accelerate the startup ecosystem taking on climate change.

The event is free and open to everyone. Register here to attend

Announcing IndieBio 2021 Demo Days

Announcing IndieBio Demo Days:

Two days to showcase the IndieBio classes and the amazing work accomplished throughout the four-month IndieBio program.

Rewatch IndieBio New York Demo Day: broadcast June 22, 2021

Rewatch IndieBio San Francisco Demo Day: July 15, 2021

IndieBio startups are founded by some of the most creative, ingenious, and fantastical people on earth. Our founders bet everything they have on their abilities to improve the world using science. The current batches, IndieBio NY 02 and IndieBio SF 11, founded their companies in the midst of a global pandemic, determined to advance their technologies and business models in our post-COVID world. IndieBio is proud to present the advancements these companies have made in our two distinct Demo Days.