Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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Fabric sews up $200M for robotic fulfillment
New York-based Fabric, a provider of robotic fulfillment technology for retailers, announced it closed a $200 million Series C funding round led by existing investor Temasek.
The financing pushes Fabric’s valuation above $1 billion. Founded in 2015, the company runs micro-fulfillment operations for grocery and general merchandise retailers in New York City, Washington, D.C., and Tel Aviv. Recently, the company announced partnerships with Walmart, Instacart and FreshDirect.
— Joanna Glasner
DNA Script lands $165M
DNA Script, a developer of enzymatic DNA synthesis and DNA printing on-demand technology, raised $165 million in a Series C funding round led by Coatue Management and Catalio Capital Management. The round brings total capital raised to date to $280 million for DNA Script, which was founded in 2014 and is based in Paris and the San Francisco Bay Area.
— Joanna Glasner
New funds
Tiger Global raises $8.8B: Tiger Global Management has attracted $8.8 billion in the first close of its biggest venture fund on record, according to a Bloomberg report, with employees reportedly contributing about $1.5 billion of the total. The fundraise follows an extraordinarily active investing streak for Tiger, which led 53 rounds valued at $7.2 billion in Q3 and participated in another 29 rounds, per Crunchbase data.
— Joanna Glasner
Khosla Ventures closes on $1.4B fund: The $1.4 billion seventh fund marks Khosla Ventures’ fifth consecutive fund over $1 billion, according to Insider. Founded in 2004 by Vinod Khosla, the firm is dedicating $400 million of the amount to a seed-stage fund. The company’s sixth fund was announced in March 2018 at $1.4 billion.
— Gené Teare
Marcy Venture Partners closes $325M Fund II: Marcy Venture Partners, the VC firm co-founded by Jay-Z, Jay Brown and Larry Marcus, announced the close of its second fund at $325 million. The firm, which was founded in 2018, raised $85 million for its first fund and invested in companies like Savage X Fenty, Hungry and StockX. MVP, which is a majority Black-owned firm, focuses on the areas of consumer and culture, and the majority of its portfolio companies were founded or are operated by women or people of color, according to a statement from the firm.
–Sophia Kunthara
Illustration: Dom Guzman
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