VC Deals: Funds Feed Impossible Foods, Uber Eats Competitor

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Includes: AMZN, BMWYY, BYND, DELL, DOORD, GE, GOOG, GOOGL, MSFT, OLED, SFTBF, SFTBY, SSNLF, SSNNF, UBER, VWORK
by: VCDeals

Welcome to Seeking Alpha's Venture Capital Deals of the Week. Follow this account and turn on the e-mail alert to receive VCDeals in your inbox on Saturday mornings.

1. Beyond Meat competitor gets $300M


Beyond Meat (NASDAQ:BYND) competitor Impossible Foods raised $300M, which brought total funding up to $750M from backers that included Bill Gates and Serena Williams. The FDA approved the key ingredient to sell uncooked Impossible Burgers in grocery stores this year, but the brand has been in restaurants since 2016. Burger King will soon launch its Impossible Whopper nationwide. Other potential fast food partners include Little Caesars, according to documents viewed by The Information. The documents also said Impossible thinks it can triple its revenue in 2019.


2. Amazon backs Uber Eats competitor


Amazon (NASDAQ:AMZN) led a $575M funding round for British food delivery company Deliveroo, bringing the total capital raised to $1.5B. Other investors included T. Rowe Price, Fidelity Management, and Greenoaks. Deliveroo competes with Uber (NYSE:UBER) Eats and Just Eats in the U.K. but also operates in 14 other markets including Australia, Germany, Hong Kong, and the UAE. The new funds will go towards growing the London-based engineering team and to expanding the delivery reach.


3. SoftBank leads $484M in German travel startup


SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) Vision Fund led the $484M round in German travel startup GetYourGuide, which connects travelers to experience providers for a commission. Temasek, Lakestar, and Heartcore Capital also participated. GetYourGuide has sold 25M tickets in its decade of existence. The infusion will help build out the Originals product launched last year.


4. Alphabet backs drone medical supply deliveries


GV (GOOG,GOOGL) participated in a $190M round for drone-delivery startup Zipline at a $1.2B valuation, according to CNBC. Baillie Gifford, The Rise Fund, Temasek, and Katalyst Ventures also participated. The round brought Zipline’s total capital to $225M. Zipline flies life-saving medical supplies like blood and vaccines to rural areas and the infusion will help set up delivery hubs at 2,600 health facilities in Rwanda and Ghana by year’s end. The company recently obtained FAA permission to start U.S. deliveries in North Carolina. Each drone can carry about 4 pounds, fly up to 68 mph in all types of weather, and can fly about 99 miles roundtrip. Zipline’s drones have flown more than 1M kilometers and made more than 13,000 deliveries so far in Rwanda.


5. Universal Display, Samsung invest in AR displays


Universal Display’s (NASDAQ:OLED) VC arm and Samsung (OTC:SSNNF,OTC:SSNLF) Ventures co-led a $50M Series C for AR display-maker DigiLens. Pokémon GO-maker Niantic and Mitsubishi joined, bringing total funding to $85M. DigiLens’ waveguide displays can offer high-def images with less hardware, which can create a sleeker, lighter AR wearable like smartglasses. DigiLens is also targeting the auto market for its displays. Competitors include Microsoft (NASDAQ:MSFT), Magic Leap, and the Apple-acquired (NASDAQ:AAPL) Akonia Holographics.


6. Dell, BMW, and GE back on-demand industrial parts


Dell (NYSE:DELL) Technologies Capital and the VC arms of BMW (BMW) and GE (NYSE:GE) participated in a $50M Series D for Xometry, an on-demand industrial parts marketplace. Greenspring Associates led the round with Foundry Group, Almaz Capital, Highland Capital Partners, and Maryland Venture Fund participating. Xometry has a supplier arm that sells raw materials to manufacture3,rs in its network. The new funds will help build out the AI- and data-powered marketplace matching businesses that need prototypes or smaller-run part production with over 3,000 domestic manufacturers and machine shops. Xometry has about 235 employees and expects to generate about $100M in revenue this year.


Seeking: DoorDash


DoorDash (DOORD) wants to raise at least $500M at a potential valuation of $13B, which has doubled in the past three months. The last funding was a $400M round in February, which brought total funding to $1.4B and valuation to $7.1B. DoorDash wants to expand its delivery offering that competes with GrubHub (NYSE:GRUB) and Uber Eats.


New Fund: WeWork’s ARK


The We Company (VORK), or WeWork, launched the $2.9B real estate fund ARK. Canadian real estate investor Ivanhoé Cambridge committed $1B to the fund, which will invest in real estate where WeWork is or will be a major tenant.

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