🦄 The DART Weekly #18 ~ Nothing and a sprinkle of SPACs

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February 20, 2021
Hej Folks,

Time is scarce, the weather is improving and the lockdown might be lifted soon (I wish). So I'll be even more concise than usual.
Is it a trend, or the beginning of the end? Time will tell.

Nothing is turning into something. After the hype, the launch and GV's backing, Carl Pei's venture took two additional steps:
1. It bought Essential's (Andy Rubin defunct startup) trademarks and logo. Smart devices of smartphones, what's the target?
2. It will launch a community equity round for $1.5M. You can invest. I can invest. Someone must read Crowdcube terms.
I'm stocked.

In 2020 SPACs raised $83B. In Jan 2021 SPACs raised $26B.
People warn you of the bubble, others warn you of Chamath.
More celebrities and high net worth individuals jumped on the flying rocket (Bernard, Kevin and Sir Richard for the second time), while Reid and Markus literally took off.
Such SPACs, Many Ouch.

Don't be like Sequoia. Beware of phishing.

On Monday a new episode of The DART Bullseye is out. Foodies, come one, come all.

Entrepreneurship Chronicles

The smiling guy here is Toby Lütke, CEO and Founder of Shopify. Although born in Germany, Toby started Shopify in Canada, after... seeing the success of Snowdevil, a snowboard gears web-shop that he launched in 2004. #serendipity

If you want to know more about the Mensch, check his interview with Sriram Krishnan here.

🎙 The DART Bullseye

A weekly podcast on innovators, entrepreneurs and investors.
AKA people familiar with the matter.

How do I raise my pre-seed round?
Matthieu (Me) spoke with Niccolò Lapini, CEO and Co-Founder @ Bella & Bona.

Tune in to discover the key elements for a successful pre-seed round in the foodtech space. Algebra is important.

Of Unicorns and Cowboys

🦄 The Rounds

The deals worth knowing in Europe and beyond - ordered from coolest to coolio

🇵🇹 Fled: Low-code platform OutSystems hit $9.5B valuation. Despite having a big hub in Portugal, the HQ moved to Boston seeking more capital and better rules.

🇮🇱 3D Steak: Redefine Meat raised $29M in Series A funding. After Israel It will roll out 3D meat substitute printers to distributors in Germany and Switzerland.

🇺🇸 To the Orbit: Axiom Space raised $130M. After developing space station modules for the ISS, now the startup will build its own wholly private platform.

🌈 The Pots

The exits you should follow in Europe and beyond - IPO, direct listing, SPAC, bankruptcy ... all awesome stuff

🇬🇧 Logged: London-based Humio was acquired by Crowdstrike for $400M. The integration of the data lake platform will enable Crowdstrike to better handle threats.

🤠 The Funds

The tales of unicorns' hunters you should know about - particularly relevant if you are a founder looking for backing

🇪🇺 Top Player: Earlybird Digital East Fund launched a new $242M fund. The firm investing in Eastern European startups has an investment multiple of 24.9x.

🇩🇪 Purposeful: VC firm Revent launched a €50M fund. Backed by the Otto family, the firm will invest in economic empowerment, health and wellbeing and climate.

🇬🇧 SaaSy: Flashpoint's new $200M fund will invest in SaaS startups (not a surprise). The focus is: construction, retail, call centres and Eastern Europe.

🧑‍🎤 ... and The Quirky Ones

The crazy stuff we gossip about while sipping our chai latte - it's like others, but better

🇮🇹 Sweet Dreams: Battery startup Italvolt has federal and local government support. After 3 years and €4B it will refurbish a plant near Turin and deliver 45 GWh.

🇩🇪 Disrupting Design: Munich-based Hyperganic uses AI to create objects out of requirements and constraints. Its will enable the creation of better objects.

🇪🇺 Measure it: Europe is becoming THE place for early-stages VC investing in climate tech. And yet, the average fund is reticent due to a lack of clear metrics
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