NVCA: Time for SEC to modernize its definition of VC fund | Data science training startup DataCamp raises $25M | Startup raises $23M for fulfillment center robotics
December 18, 2018
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NVCA: Time for SEC to modernize its definition of VC fund
NVCA has written to the Securities and Exchange Commission suggesting that it update its definition of a venture capital fund to reflect the way the venture capital industry does business today. This is important, because the definition determines which funds qualify as exempt reporting advisers, relieving them of the regulatory burdens that are imposed on registered investment advisers, writes NVCA's Justin Field.
NVCA Blog (12/17) 
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Capital Call
Data science training startup DataCamp raises $25M
DataCamp, a startup that provides data science and analytics training online and through smartphone apps, raised $25 million in its most recent funding round. The capital will be used to improve users' overall experience, expand globally and broaden the curriculum.
VentureBeat (12/17) 
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Startup raises $23M for fulfillment center robotics
RightHand Robotics, a startup that provides robotic picking and sorting arms to e-commerce fulfillment centers, raised $23 million in its most recent funding round. The money will help the company expand its sales, engineering and customer service staffs and provide services to customers in Europe and Japan.
VentureBeat (12/17) 
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Battery manufacturing startup 24M raises $21.8M
24M, a startup that says it has developed a faster and less costly way to manufacture lithium-ion batteries, raised $21.8 million in its most recent funding round. One of the startup's longtime investors, Kyocera, expects to build a pilot manufacturing facility for the technology within 15 months.
Xconomy (12/17) 
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View from Abroad
UK corporate security startup Egress raises $40M
Egress Software Technologies, a British cybersecurity startup that uses artificial intelligence to protect corporate data, raised $40 million in its most recent funding round. CEO Tony Pepper says the capital will fund growth in Europe and an expansion of the company's Boston office.
VentureBeat (12/17) 
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Self-diagnostic startup K Health raises $25M
K Health, a Tel Aviv, Israel-based medical self-diagnostic platform, raised $25 million in its most recent funding round. The company's app has been downloaded more than 500,000 times, with 10,000 to 15,000 new users a day.
VentureBeat (12/17) 
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Corporate Venture Capital
BMW, Microsoft join $200M round for AI chipmaker Graphcore
Graphcore, a UK-based maker of artificial intelligence chips, has raised $200 million in a funding round that included strategic investments from BMW and Microsoft. The company says it will use the capital to fund rapid expansion.
TechCrunch (12/18) 
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Indian scooter startup Vogo to get $100M investment from Ola
Ola, an Indian ride-hailing company, says it will make an investment of $100 million in scooter-sharing startup Vogo, also based in India. Vogo's scooters will be added to the Ola app.
Reuters (12/18) 
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Sector Spotlight: Life Sciences
Novo Nordisk to invest up to $489M in partnership with Staten
Novo Nordisk is partnering with Dutch startup Staten Biotechnology to develop a treatment for high triglycerides. Novo will pay as much as $489 million for global rights to the drug and will have an option to buy Staten.
Labiotech (Germany) (12/17) 
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Sector Spotlight: Tech
Digital assets developing like e-trading, exec says
Digital assets are going through an exciting stage of development similar to the early days of electronic trading, said Greg Tusar, chief technology officer and co-founder of Tagomi Holdings. "In taking the long view, I really believe that this is a transformative technology," said Tusar, former global head of electronic trading at Goldman Sachs.
BloombergQuint (India) (12/17) 
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NVCA News
NVCA provides model term sheets and other legal documents
Every year, the venture industry closes thousands of financing rounds with early- and growth-stage companies, creating tens of thousands of pages of legal documents. To save the industry time and money, NVCA has developed a set of model legal documents to serve as templates so that investors and entrepreneurs can spend less time focused on process and more time focused on growing their companies. The template model legal documents were put together by a group of leading venture capital lawyers. Each document is intended to serve as a starting point only, and should be tailored to meet your specific requirements. Visit NVCA's model legal document library.
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