The 15 Largest Global Startup Funding Rounds of August 2020

Each of these companies raised over $ 100M last month and all are hiring! Everything you need to need to know about the largest global startup funding rounds of August 2020; broken down by industry, stage, investors, and more…
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Digital Top 50 Awards: Applications close on the 30th of August (Sponsored)

European startups, both early and later stage, can now apply for the Digital Top 50 Awards. Since 2016, the Digital Top 50 Awards have been rewarding and celebrating Europe’s growing and most promising entrepreneurs and founders and their respective firms. The 2020 Awards are a joint project by McKinsey, Freshfields Bruckhaus Deringer and Google; this year, Hering Schuppener Consulting and 468 Capital join the awards and support Europe’s vibrant startup community. Bits & Pretzels is the official community partner.

Startups based in the European Union and EFTA countries having received financing in the amount of up to €100 million can apply. This year’s categories are:

  • Best Technology
  • Best Consumer Business Model Innovation
  • Best Enterprise Business Model Innovation
  • Tech for Good

Winners of the prestigious awards will receive structured support, professional guidance and coaching. All applications are reviewed by DT50’s Executive Jury, a panel of experts, veterans in venture capital and growth mentoring. The complete list of jury members can and the application form can be found on the DT50 website. The application phase will end on the 30th of August.

The award’s winners will be announced during the Bits & Pretzels Conference on September 29; the shortlist of the Top 50 firms will be published in mid-September. Winners will receive valuable support, guidance and mentoring from all 2020 partners of the awards. They will benefit from professional advice, structured consulting and coaching programmes, as well as access to a huge network of leading industry decision-makers. The winner of the “Tech for Good” category will receive an additional cash prize of €50,000.

Karel Dörner, Senior Partner McKinsey Digital, one of the founding firms behind DT50, stated: “The pandemic is hitting startup teams particularly hard: sales are collapsing, costs are being reduced, and venture capitalists are more cautious about investments. Now more than ever, society and the economy need digital innovation from creative entrepreneurs. Some of the biggest digital players were founded in times of crisis. And that’s why we are holding on to our Digital Top 50 Awards, even in times of crisis. But we don’t just want to provide financial support, we want to share our knowledge and strengthen the community ─ for a future-proof and competitive European startup ecosystem.”

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EU-Startups

Extra Crunch Live: Join Anu Duggal for a live Q&A on August 20 at 11am PT/2pm ET

Rent the Runway and Glossier became unicorns within the same week in June 2019. That same year, only 2.7% of venture capital dollars went toward female-founded companies.

Silicon Valley’s disconnect between the monetary success of female-founded companies and funding them in the first place is disheartening. The conversation is there, but the dollar sign momentum remains missing.

Anu Duggal founded the Female Founders Fund before both were even a tangible reality. In 2014, the entrepreneur launched her first fund to invest in female-led startups. It took her 700 meetings over two years to make that first close, she said. Years later, venture capital has slightly taken note. But the Female Founders Fund, or “F Cubed,” has tracked female-led wins and bet big on the underestimated asset class.

Her early focus on female founders hasn’t evolved, but the landscape has. And in an unprecedented world of remote deals and democratization of venture capital, we’re even more excited to have Duggal join us on Extra Crunch Live this upcoming Thursday at 11 a.m. PT/2 p.m. EST/6 p.m. GMT

Those tuning in and taking notes are encouraged to ask questions, but you have to be an Extra Crunch member to access the chat. If you still haven’t signed up, now’s your chance! With the subscription, you’ll also be able to check out all of our stellar previous guests on-demand (watch those episodes here).

Female Founders Fund has provided seed institutional capital to entrepreneurs with over $ 3 billion in enterprise value. The firm has cut checks into women-led companies such as Rent the Runway, Billie, Tala, Peanut, Thrive Global and Zola. The fund has also attracted limited partners like Melinda Gates and Girls Who Code founder Reshma Saujani.

Duggal herself has a fascinating trajectory into technology investing. At 25, she started a wine bar in Bombay called The Tasting Room. She went on to get an MBA from London Business School, and co-founded Exclusively.in, an e-commerce company that got acquired by Indian fashion e-commerce company Myntra in 2011.

Hear from Duggal on August 20 about how the investment landscape has changed for female founders, what she thinks of as a success story and if 2020 feels different than 2014. And Extra Crunch fam, make sure to bring your thoughtful questions for me to ask her live on air.

You can find the full details of the conversation below the jump.

Startups – TechCrunch

Airbnb to file IPO in August, to rope in Morgan Stanley and Goldman Sachs Group

Late in 2019, the popular home-sharing rental business, Airbnb announced its plans to become a public company. As expected, the company plans to file paperwork for an IPO with the US Securities and Exchange Commission in the next few weeks. 

Working with Morgan Stanley and Goldman Sachs

According to the Wall Street Journal, Airbnb is preparing to go public within this year and working with Morgan Stanley and Goldman Sachs Group Inc. on the same. The company lost millions as coronavirus has thrown the tourism industry into chaos. Notably, Airbnb set aside $ 250 million in refunds to hosts whose guests canceled their stays.

Brain Chesky, CEO of Airbnb wanted to take the initial steps towards IPO in March, but his plans got called-off due to a coronavirus outbreak. Also, the company laid off 25% of the workforce to survive. Recently, Airbnb was valued at $ 18 billion (approx €15.2 billion) down from an earlier valuation of $ 31 billion (approx €26.2 billion). 

Quarterly revenue plunged 67%

Back in April, Airbnb raised $ 1 billion in funding from private equity firms Silver Lake and Sixth Street Partners. The company’s quarterly revenue plunged 67% with revenue falling to $ 335 million in the second quarter ended June 30. However, the San-Francisco company showed some signs of recovery towards the end of the quarter. 

Airbnb is an online community marketplace for people to list, discover, and book accommodations around the world. Founded in August of 2008 by Brian Chesky and Joe Gebbia, it is based in San Francisco, California, Airbnb connects people to unique travel experiences, at any price point, in more than 33,000 cities and 192 countries.

This platform acts as the easiest way for people to monetize their extra space and showcase it to an audience of millions. Headquartered in San Francisco, Airbnb has satellite offices in Dublin, London, Barcelona, Paris, Milan, Copenhagen, Berlin, Moscow, São Paulo, Sydney, and Singapore.

Main image credits: BigTunaOnline/ Shutterstock

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Startups – Silicon Canals