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Top 5 Weekly Highlights
SeedInvest Weekly Highlights is a roundup of a selection of 5 deal updates, key milestones, portfolio company news, and more from the prior week.
1. Forbes features Limeloop’s co founder as Cyber Monday approaches
Throughout COVID and quarantine, more consumers are staying home and shopping online – eCommerce sales in Q2 2020 grew 44% compared to the same time period last year. With Amazon Prime Day and Cyber Monday on retailers’ minds, Forbes connected with Chantal Emmanual, CTO and co founder of Limeloop, a sustainable shipping logistics company addressing waste and climate impact. The company creates reusable shippers and its app provides retailers visibility, security, and predictive analytics. The article discusses Limeloop’s value proposition, the environmental impact of single-use shippers, and myths around recycling.
Limeloop is currently accepting investments from accredited investors on SeedInvest.
2. Miso Robotics, SeedInvest’s largest current fundraise, ends this Friday
Miso Robotics is developing artificially intelligent robots to make food efficiently and consistently. The company has raised over $11.5M of its Series C round from 4,950 investors. Miso Robotics is currently the company with the most investments on SeedInvest and the most raised foodtech deal in the platform’s history.
White Castle, CaliBurger, and the LA Dodgers Stadium are some of the restaurants already using Flippy, the company’s patented robotic kitchen assistant. Read all of Miso’s campaign updates here.
3. FDA responds to Cytonics’ preclinical study, bringing company one step closer to human clinical trials
Cytonics successfully completed a pre-IND (Investigational New Drug) meeting with the FDA regarding its lead drug candidate, CYT-108, for the treatment of osteoarthritis (OA). The FDA response determined the proposed study could be adequate to begin Phase 1 of human trials.
Going forward in the IND filing, Cytonics will have to submit requested details of the study design and outcome measurements as a follow-up to complete their submission.
4. GoSun, a SeedInvest portfolio company, launches a solar-powered coffee maker
GoSun, producers of solar-powered consumer goods with a focus on camping, just launched its newest product. GoSun Brew is a solar-powered coffee maker that can heat up 12 ounces of water in the insulated mug and then double as a French press. The battery (which can be charged via solar panel, power outlet, AC adaptor, or USB) doubles as a flashlight and its power station is able to charge five different devices at one time.
The launch of GoSun Brew has already been featured in Thrillist, Mashed, and Sprudge.
5. Private fintech funding rises in Q3 2020
Business Insider recently published an article discussing fintech funding in Q3 2020. The article states that, “global fintech funding reached $10.63B in Q3, a 4% increase on the previous quarter, according to CB Insights.” Additionally the article detailed the renewed attention early stage startups are receiving, “with larger players now selling equity at a higher value, many investors likely turned their attention back to early stage startups in hopes of identifying a future winner at a low price tag.”
Currently, there are 3 fintech deals on SeedInvest: GROUNDFLOOR (wealthtech platform that offers real estate investments directly to the general public), Jassby (mobile money app and virtual debit card for kids and teens), and Gatsby (mobile app simplifying options trading for the new generation of investors).