Briefing

The Briefing: Glovo Raises $528M And More

The Briefing

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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Spain’s Glovo picks up $528M for delivery app

Barcelona-based delivery app Glovo raised $528 million in a Series F funding round led by Lugard Road Capital and Luxor Capital Group.

The company plans to use the funds to help expand its quick-delivery service and grocery operations in Europe. Currently, Glovo says it operates in 20 countries, with around 64,000 active couriers.

Previously, the 6-year-old company raised at least $634.5 million in known funding, per Crunchbase data.

— Joanna Glasner

Thrasio banks $100M, names new CFO

Amazon FBA brands acquirer Thrasio, based in Walpole, Massachusetts, closed out its Series C raise with $100 million in new funding, from undisclosed investors, to bring its total known equity and debt investments to $1.7 billion, according to Crunchbase data.

In February, Thrasio raised $750 million of financing from a group of existing investors including Oaktree Capital Management and Advent International. The marketplace acquisition business is attracting venture backing and other capital, touching off a wave of competitors and investors eager to get a piece of the action.

In addition to the raise, Thrasio announced that former JCPenney Chief Financial Officer Bill Wafford has joined the company as new CFO.

— Christine Hall

Funding rounds

AppTweak raises $22M: Brussels-based AppTweak, a provider of app store optimization tools, reportedly raised $22 million in a Series B funding round backed by Groupe Rossel.

— Joanna Glasner

Fintech and e-commerce

Fetch Rewards lands $210M: Fetch Rewards, a Madison, Wisconsin-based consumer-loyalty and retail-rewards app, announced more than $210 million in Series D funding led by SoftBank Vision Fund 2. The latest round brings the total amount raised by Fetch Rewards to $318 million, according to the company. Founded in 2013, the company enables shoppers to earn free rewards on their everyday purchases by snapping photos of their receipts or submitting electronic receipts.

StarStock bags $8M for sports marketplace: StarStock, a New York-based marketplace for sports fans and card hobbyists to buy, sell and invest in their favorite athletes, announced $8 million in Series A funding led by Andreessen Horowitz. The new round gives StarStock total funding of $10 million since being founded in 2019, according to the company. Currently, the marketplace has more than 800,000 cards in its vault, 600,000 cards have been traded, and more than 50,000 cards are added weekly. Between November 2020 and January 2021, the company reported growing 5x in areas including card submissions, sales, deposits and member sign-ups.

— Christine Hall

Health care

Béa Fertility raises $1M for at-home fertility treatment: U.K. health care startup Béa Fertility announced $1 million in funding to launch its at-home fertility treatment in the region. Calm/Storm VC led the round, which included Q Ventures. It is estimated that infertility affects 1 in 7 heterosexual couples in the U.K. Rather than receive treatments at a fertility clinic, Béa Fertility is creating a new step to enable couples to carry out what’s called “IntraCervical Insemination” at home.

The company will operate on a monthly subscription basis, providing users with two ICI devices, ovulation tests, pregnancy tests and access to an app to help track ovulation dates and the progress of their fertility journey. The subscription will cost approximately $400 per month, meaning five months of the Béa treatment will be the same price of one round of intrauterine insemination treatment at a fertility clinic, according to the company.

Mantra Health inks $2M: Mantra Health, a digital mental health clinic that partners with higher education institutions, announced a $2 million extension to its seed round that brings its total funding to $5.2 million. The round includes new institutional investors Canaan Partners, City Light Capital and Baleon Capital, as well as Nitin Nanda. Mantra, founded in 2018 and based in New York, will use the extension to expand its network of psychiatric and therapy providers to all 50 states and sign on additional health insurance carriers to increase access to evidence-based mental health care for students in colleges and beyond.

— Christine Hall

Enterprise software

Craft Docs Lands $8M Series A: Hungary-based Craft Docs has secured an $8 million Series A led by leading European early-stage investor Creandum. Craft, a developer of collaboration and productivity tools, launched late last year and will use the new funds to accelerate product development.

— Chris Metinko

Other news

Energize, CDPQ partner on clean energy ventures: Energize Ventures and Caisse de dépot et placement du Québec said they will partner to invest up to $125 million over the next three years in ventures that aim to accelerate the digital transformation of energy and sustainable industry sectors.

— Christine Hall

Illustration: Dom Guzman

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