Social crypto wallet company, The Easy Company, raises $14.2M in seed funding. The round included venture participation from Lobby Capital, Relay Ventures, 6th Man Ventures, Tapestry VC, Upside, and Scribble Ventures. More: - The company aims to show engaging consumer social features to help them navigate the world of Web3.
- The product, which has similarities to Instagram’s layout, lets users feature or view NFTs and rate them.
- Co-founder Kevin Swint noted that the company looks to create the first consumer Web3 product as many previous products required technical understanding.
- The beta wallet is available today to the public on both iOS and Android.
- Easy is currently compatible with Ethereum and Polygon NFT, with plans for more integrations.
- The raise comes at a time when the crypto industry has seen allegations of fraud following the collapse of FTX and multiple bankruptcies, including Voyager, Celsius, and Three Arrows Capital.
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Tea brand Ryl raises $6.7M in funding. The healthy beverage company did not disclose the strategic investors in its funding round. More: - Ryl, which offers ready-to-drink tea, is launching into retail locations, including Wegmans, Whole Foods Market, and Wakefern stores in the Northeastern U.S.
- The tea has 200 milligrams of tea polyphenols which can provide health benefits against diabetes and other neurodegenerative diseases.
- Ryl is debuting its teas with four different flavors: Original Green Tea, Peach Black Tea, Raspberry Black Tea, and Lemon Black Tea.
- Founder Blodin Ukrella, a former data scientist at the drink company Bai, noted the funding would be used for further product development.
- The raise comes when many are interested in functional beverages, with the global category estimated to be valued at $173B by 2025.
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London-based Inflow raises $11M in its Series A funding round. The funding round was led by Octopus Ventures, with additional venture participation from Hoxton and Route66. More: - The company develops and helps manage ADHD using behavioral therapy through its self-therapy app.
- ADHD, or “attention deficit hyperactivity disorder,” currently impacts nearly 10% of the global population and can include symptoms such as hyperactivity, anxiety, or inability to concentrate on tasks.
- The app has an initial free 7-day trial but costs around $200 a year and includes daily exercises and challenges around habit development.
- With the new capital, Inflow plans to expand and build out product development as well as increase its hiring.
- The company, founded in 2020, has raised a total of $13.3M, including a $2.3M seed funding in Jan. 2022.
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The medical simulation startup SimX secured a multi-year grant from U.S. Space Force. The company was awarded $1.7M to develop a virtual reality (VR) based clinical training program for astronauts. More: - The program will run wirelessly on HTC VIVE Focus 3 VR headsets.
- VR training can help companies and governments save money by virtually training staff for unique medical scenarios.
- SimX is already providing similar VR medical training for the U.S. Air Force's Pararescue Specialists, Combat Rescue Officers, and flight surgeons.
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Flexport, a supply chain software startup, will lay off 640 employees who represent 20% of its workforce. The company's CEO stated that a worsening macroeconomic outlook and reducing trade volumes made them take that decision. More: - Flexport was part of several tech companies that took part in a hiring binge during COVID-19.
- Other companies in that group are Amazon, Salesforce, and Coinbase.
- The startup began operations in 2013 to provide freight forwarding and brokerage services in the cloud.
- By being in the cloud, Flexport can quickly analyze costs, container efficiency, and greenhouse gas emissions with more accuracy than legacy systems.
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Indian metaverse startup Trezi raised $2M for product development and market expansion. Trezi uses a SaaS model that allows users to upload architectural models for viewing, editing, and remote collaboration in real time. More: - The funding round was led by World V and YourNest Venture Capital.
- Trezi's value proposition relies on connecting architects, designers, and building construction engineers with product manufacturers.
- The startup's product also allows virtual and immersive tours of architectural designs.
- Currently, leading brands such as Schneider Electric, GMR, and NCRTC are part of the startup's clients.
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- Inbenta, the conversational AI company, announced a $40M funding round led by Tritium Partners.
- Durham, North Carolina's Plantd, Inc. raised $13.6M Series A to develop carbon-neutral home construction materials.
- Based in Los Angeles, Virtualitics, the AI and data exploration startup, has been voted Built In's 2023 Best Places to Work.
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 |  | Courtney Rawlings is an Inside Research Analyst living in Los Angeles, California. She has returned to her hometown of LA after spending several years working at Emory University in Atlanta, Georgia, where she is completing a Ph.D. in Art and Architectural History. Martin Ruiz-Cantu is a Business Researcher at Inside.com. He has a Master's in Global Business and Finance from Georgetown University. He previously worked at HSBC and the World Bank. He is passionate about finance, startups, and tech. Robel Kelkile was born and raised in the Bay Area. Now a writer @Inside, Robel covers all things San Francisco and is passionate about tech, venture, education, and city and state government. |  | | Editor | Vibha Chapparike is a Freelance Writer & Editor at Inside.com. With her post-graduation in Management and Finance completed, Vibha is expanding her knowledge in venture capital, business, startups, and technology. She has had a career in public relations and communications. An ardent reader and writer currently residing in Singapore, you can follow Vibha on Twitter @VChapparike. | |
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