Briefing

The Briefing: Bitcoin Falls, Vivid Seats Merging With SPAC, 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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Bitcoin falls below $50,000

Bitcoin and other cryptocurrencies were down sharply today, a development likely attributable in part to a potential Biden administration proposal to raise taxes on capital gains.

Bitcoin fell 10 percent in morning trading to below $50,000, with Ethereum and Dogecoin also posting hefty declines.

— Joanna Glasner

Public offerings

Vivid Seats to go public via SPAC: Vivid Seats, a marketplace for connecting fans with event ticket sellers, announced that it has entered into a merger agreement with  blank-check acquirer Horizon Acquisition Corp. that will result in a public listing.

Funding rounds

Holoride picks up $12M Series A: Holoride, a Munich-based startup developing in-vehicle media technology, raised $12 million in a Series A round led by Terranet AB.

— Joanna Glasner

Health care

Small Door lands $20M: Membership-based veterinary concept Small Door Veterinary announced $20 million in Series A funding, led by Toba Capital, that will drive its expansion plans to open 25 locations by 2025, as well as build a new practice in New York this summer.

— Christine Hall

Agriculture

Halter raises $23M: New Zealand-based agri-tech company Halter raised $23 million in Series B funding to continue expanding its dairy farm technology.  The new funding will be deployed into expansion across farms in New Zealand of its technology that enables farmers to manage their cows more efficiently and proactively care. Blackbird Ventures led the round and was joined by existing investors DCVC, Promus Ventures, Ubiquity Ventures and Peter Beck.

— Christine Hall

Venture

Basis Set Ventures announces new fund: San Francisco-based Basic Set Ventures announced its new $165 million Fund II. The majority of dollars came from non-profit foundations and endowments. The firm will focus on seed and Series A investments, writing checks typically between $1 million and $3 million. The firm invests in enterprise companies, concentrating on scalable infrastructure, collaboration tools, automated workflows and autonomous machines. 

— Chris Metinko

M&A

Accolade to acquire PlushCare: Personalized health and benefits company Accolade announced its intent to acquire PlushCare, a provider of virtual primary care and mental health treatment in a cash-and-stock deal valued at up to $450 million. The transaction is expected to close in June. PlushCare has raised $31 million in known venture funding since the company was founded in 2015, according to Crunchbase data. Accolade, which went public in July 2020, raised $458.7 million since its inception in 2007.

— Christine Hall

Illustration: Dom Guzman

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