VC Deals: Airbnb Talks To Investors

Mar. 20, 2020 11:54 AM ETABNB, GRAB, BYND, TROW, NVDA
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  • Airbnb (AIRB) was fielding “significant” investor interest for a potential funding round, according to CNBC sources. The investors include venture capitalists, PE firms, and sovereign wealth funds. Airbnb reportedly has $3B in cash and $1B in credit available. The company thinks it’s well-positioned to weather the coronavirus outbreak, but Q4 losses nearly doubled Y/Y before the pandemic. Airbnb had planned to go public this year, though the macro conditions could push back the launch date.
  • Grab (GRAB) competitor Gojek raised $1.2B, which was finalized last week and brought the current funding round to nearly $3B, according to Bloomberg. The round marks one of the largest since the coronavirus emerged in China in January. Gojek didn’t specify the participants, though Amazon was rumored to be circling the round. The startup will use the new cash to keep expanding to remain in competition with Grab.
  • Beyond Meat (BYND) competitor Impossible Foods raised $500M in a Series F led by Mirae Asset Global Investments. The round valued Impossible at nearly $4B. Last November, Reuters reported that the startup was looking to double the $2B valuation it achieved in May 2019. Impossible will use the new funds to expand its manufacturing capacity.
  • T. Rowe Price (TROW) participated in the $175M Series E for HashiCorp, which creates multi-cloud automation software. Franklin Templeton Investments led, and HashiCorp walked away with a $5.1B valuation. The startup says it has doubled its annual revenue and customer count every year for the past four years.
  • Nvidia (NVDA) joined the $12M Series A for enterprise speech recognition startup Deepgram. Wing VC led the funding. Deepgram says its speech recognition tool can handle real-time text without sacrificing accuracy. The service comes either hosted on Deepgram’s hardware or on a client’s hardware. The primary customers are enterprise call centers and voice platforms. The new money will go towards hardware and adding staff.

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Our news team's weekend review of the week's top venture capital deals involving publicly traded companies.

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