This is a monthly column that runs down five interesting deals every month that may have flown under the radar. Check out last month’s entry here.
July has come and (basically) gone, and along with it some pretty interesting rounds raised by startups.
Think you may have missed some? Don’t worry, we have you covered as we recap some of the things that caught our eye through the last four weeks or so.
Better sleep
We all want to sleep better. Well, a San Francisco-based startup raised some cash this month to help you achieve your dream goals.
REMspace, a neurotechnology startup specializing in lucid dreaming studies, closed a $1 million seed round. The new capital will be used to develop software and hardware for the company’s research and commercial projects — which include dietary supplements and its smart sleeping mask.
The company’s goal is to help people with lucid dreaming — which REMspace defines as vivid dreams in which people “fully understand that they are dreaming and can exercise control over their dream” — falling asleep, gentle awakening, meditating, improving dream recall and even preventing snoring
A better life through better sleep — we’re all for it.
Big money (nonalcoholic) beer
Nonalcoholic beer has been around for a while, so it’s not what Athletic Brewing Co. does that caught our attention.
It was the amount of cash it raised and how big it’s become.
The Connecticut-based brewery raised a $50 million round led by General Atlantic earlier this month. Founded in 2017, the company has raised $286 million, per Crunchbase.
That’s a lot of cash for what once was a very niche market, but it’s looking like that may not be true anymore. Athletic has grown from producing just 875 barrels in 2018, to selling more 258,000 barrels last year.
According to recent polling, 41% of Americans are actively trying to moderate their alcohol consumption, a 7% increase from 2023. In addition, 58% of consumers say that low- and no-alcohol beer is a good alternative for anyone looking to moderate their alcohol consumption long-term.
All that points to a growing market for Athletic — which is already ranked by the Brewers Association as the 10th largest U.S. craft brewery and 20th largest overall U.S. brewing company.
Better insulation, better Earth
Insulation startups don’t make this list often, so we’ll get one in this month.
Berlin-based startup Varm raised a seed round worth nearly $6.2 million led by Emerge Education and Pale blue dot to help German homeowners help the Earth.
The company, founded a year ago, helps homeowners find cavity wall insulation installation — protecting their homes from heat and cold while also reducing energy costs and their carbon footprint.
While insulation may not sound overly important, the startup says heating accounts for a fifth of carbon dioxide emissions in Germany.
However, what really caught our eye was the startup’s ambitious plans. Because there is a skilled labor shortage, the company has created a training academy for installers, and even offers students a “business-in-a-box solution” to support them in starting their own business.
Just for you
The supplement market has had its ups and downs, but just like every other sector it’s getting an AI upgrade.
London-based Bioniq is doing just that and locked up a $15 million series B led by HV Capital and Unbound at a $75 million valuation.
The company specializes in AI-driven personalized supplements. It has two different offerings, one which takes into account things such as your age, weight and lifestyle to come up with a personalized selection of supplements using its own proprietary dataset and AI algorithm.
Its other offering actually uses blood-marker data to find imbalances.
Bioniq’s supplement recommendations can range all the way up to combine up to 53 different components into one daily dose. The company’s supplements come in small granules, so there are no pills to swallow.
That’s a lot more in-depth than just going to your local GNC.
Specialized mental health
Mental health startups getting funding is nothing new. The market has been taking off for years, especially since the pandemic.
However, occasionally one specific startup raising cash in the space does catch our eye. Seven Starling locked up a $10.9 million Series A funding led by RH Capital. The New York-based company specializes in women’s behavioral health services — specifically during critical periods such as infertility, miscarriage and loss, pregnancy, postpartum and parenthood.
According to the company, 94% of women do not seek help for perinatal mood and anxiety disorders due to a variety of factors, including a shortage of therapists and limited in-network coverage. However, while these conditions affect one in five women during motherhood, only 20% are screened for mental health issues — and 75% of those who need treatment do not receive it.
Seven Starling offers patients group therapy, medication management, and even in-app content and exercises. It also is in the network of many major commercial plans.
Illustration: Dom Guzman
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