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Issue no.9 // March 2020 // San Francisco, California
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Welcome to the Rising Tide Quarterly Newsletter that highlights updates from our 70+ companies whose stories will inspire you. We hope you’ll enjoy and as always, send us your suggestions info@rtf.vc
We look forward to your feedback and everlasting cooperation.
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PORTFOLIO PROFILE "EVONETIX"
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Evonetix Raises $30 Million to Accelerate Internal Technology Development
- Evonetix raises $30M for desktop gene synthesis technology
- Founded in 2015 as a spinoff from the University of Cambridge, UK
- Co-founded by Dr. Hermann Hauser, who previously founded Acorn Computers, ARM, and was an early investor in Solexa, a DNA sequencing technology company acquired by Illumina for $600M.
Value Proposition: Evonetix is reimagining biology by developing a radically different approach to gene synthesis – a highly parallel desktop platform to synthesize DNA at unprecedented accuracy and scale. The Company’s platform will place DNA synthesis in the hands of every researcher and change how DNA is accessed, made and used. This new paradigm in gene synthesis will facilitate and enable the rapidly growing field of synthetic biology.
Series B Funding: Evonetix announced the successful close of its Series B funding totaling $30M in March 2020. Rising Tide participated in the round and in company’s most recent funding round. The new funding will be used to accelerate internal technology development, including the integration of Evonetix’s technology to enable the synthesis of DNA on a chip. The investment will fund the Company through to the introduction of its desktop DNA platform which, once fully developed, will facilitate and enable the rapidly growing field of synthetic biology, with application across industries including healthcare, pharma, biotech, food and agriculture and data storage. More information can be found here.
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PORTFOLIO FOLLOW-ON FINANCING
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Activ Surgical Raises $11M to Improve Surgery Outcomes with Computer Vision, link here
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Aspect Biosystems Announces $20M Series A Financing to Advance its Leading Platform for 3D Bioprinting of Human Tissue, link here
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Astranis Raises $90M in Series B Financing, link here
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CryptoKitties Maker Dapper Labs Raises $11M to Build a Blockchain for Gaming and Entertainment, link here
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Exo Imaging Emerges from Stealth Mode with $35M Series B Financing Round to Advance Development of the Exo Ultrasound Platform, link here
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Immersv Raises $10.5M to Shake-up Mobile Advertising with Some VR Flair, link here
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Molecular Assemblies Announces $12.2M Series A Financing to Advance Enzymatic DNA Synthesis for Life Sciences and Data Storage, link here
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Teampay Raises $12M in Series A Funding to Further Leverage Breakthroughs in Natural Language Processing to Enable SMBs to Better Control Their Employees’ Purchases, link here
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Enabling Women to Become Catalysts for Change Far Beyond Their Own Fields
How Women Lead is a champion for promoting the voices of all women and propelling their leadership forward. The organization brings together influential women in an inclusive and highly supportive community to provide a platform for thought leadership, to collaborate, and to share resources and stories. By training and connecting diverse women executives from the corporate, public, philanthropic and nonprofit sectors, How Women Lead enables women to become catalysts for change far beyond their own fields.
Dr. Ossama Hassanein, Chairman Rising Tide, was a keynote speaker at the San Francisco Annual Breakfast attended by over 600 like-minded advocates. How Women Lead is the Bay Area partner for 2020 Women on Boards, a national effort to increase the percentage of women on U.S. company boards to 20% or greater by 2020.
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Making Our Future the Cause of the Present
This April the 7th International Electric Vehicle Expo is taking place in Jeju South Korea (April 29- May 2). The event is sponsored by the government and leading companies and attracts thousands of attendees 50K+ and hundreds of companies from over 40 countries. This year a day is dedicated to Sustainability. Our engagement and cooperation with the South Korean leadership on the Sustainability Initiative started with a focus on electric vehicles, then expanded to include clean energy, smart cities, sustainable agriculture, and safety. The Chairman of Rising Tide, Dr. Ossama Hassanein, has been privileged to be elected as Chairman of the Sustainability International Advisory Board. By building bridges between South Korea and Silicon Valley, we hope that innovations and positive human impact will significantly accelerate in the next 10 years.
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