This is our monthly column featuring 5 interesting deals that may be flying under the radar each month.Check Last Month’s Entries here.
September is over and the days are getting shorter and colder.
Despite the shortened days, this month has been full of interesting rounds for innovative startups. For example, fake pet food, eating more insects, and funding AI-created virtual characters.
a little creepy
There are many real people in the world, but it seems that some people are moving to virtual people now.
AI company based in Montreal Rear 27 has closed a $5 million seed round led by a gaming company president and a “prominent wealth advisor and international business tycoon.”Created by Startup rear—A virtual person with a 3D presence that integrates movement and voice technology, created by AI. She even has her own social media her handle.
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Last year, Unreal Lia garnered over 300,000 viewers, and the company hopes to use the new funding to grow that to over 1 million by early 2023.
The company says Lia gets smarter every time she interacts with her fan base, and can discuss everything from math and philosophy to everyday chatter.
Although Lia27 points out that she “avoids romantic conversations.”
justice for all
Few jobs are as unrewarding as being a public defender (full disclosure, my father was a public defender for over 30 years).
Most people are overworked and underpaid, have no other choice, and have to balance some cases for those who have to face a justice system that is daunting even to those who are familiar with it. of American Bar Association Recently, Oregon’s public defender workforce was estimated to be adequate to represent Less than a third of people need a lawyer.
justice text We raised $2.2 million this month to ease some of the burden. A company that the founder started as a school project. University of Chicago— Helps store, analyze and share video evidence, such as police videos. This includes video transcription and making that text searchable, saving lawyers valuable time. This product is intended for public defenders.
Based in Irvine, California, JusticeText was launched last year and now works with over 50 public defense agencies.
In this round bloomberg beta, True Ventures and even John Legend.
better pet food
Two areas that are currently growing are pet care and artificial meat.
When you put the two together, you have a company based in Boulder, Colorado. bond pet foods Closed $17.5 million Series A, including investment from ADM Ventures, Cavallo Ventures others.
The startup, which produces meat proteins through fermentation, previously focused on plant-based pet treats, will use the new funding to expand all pet food applications to try to replicate chicken, fish, beef, and more. put more effort into
This is surprising because so many startups find it difficult to do just one of these things.
The company estimates that global pet nutrition sales are already over $100 billion, growing at an annual rate of 4.5%, so the startup is looking to expand in the space. is not surprising.
The company will use the new cash to expand its meat protein portfolio and expand production at a new 15,000-square-foot facility in Colorado.
don’t smoke it
Stick with plant-based meats for a while.
Food tech startup based in Israel biobetter closes $10 million Series A led by Jerusalem Venture Partners This month, we are going to bring cell-cultured meat even closer to large-scale production.
Many companies produce fake meat, but the one that caught our eye is the one used by BioBetter. BioBetter uses tobacco plants as a “bioreactor” to produce the growth factors needed for cell development in cultivated meat.
Two of the biggest problems facing the industry are steep costs and limited availability of growth factors, so the start-up hopes that Princess will “drastically reduce the cost” of cultivated meat and its He said he could help commercialize it.
Isn’t it good news for tobacco farmers that there are fewer smokers than ever before?
Other bugs
last monthwe talked about India base loop wormand the upcycling it does with insects, turning food waste into protein-rich animal feed.
Based in Paris this month Innova Feed— which also raises insects to feed plants and animals — raised $250 million in Series D funding. Qatar Investment AuthorityThe company has raised a whopping $450 million so far, according to the company.
Who knew that insect farming costs a ton of money?
Innovafeed has also already secured commercial partnerships “in excess of €1 billion over the next 10 years” and will use its technology to develop ingredients for human food as well as plant and animal foods. He also said he would.
The company will use the new funding to drive geographic expansion, including the construction of a new manufacturing plant in Decatur, Illinois.
Illustrated by Dom Guzman
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