NVTC Newsletter No. 9
Nov 1, 2022
Kaley Ubellacker
Market Stirrings 🚩
Here's what the week looked like in pre-seed:
Data aggregated from proprietary research and Crunchbase; valuation estimate based on 10-20% ownership stake.
Happy Tech Tuesday everyone. For those new here, welcome to the NVTC weekly newsletter. Here you’ll find recent updates from the tech world, insightful articles related to startups and highlights from NV portfolio companies.
THIS WEEK’S FEATURES ⚡
🤝 CTO sighting – Victor Fimbres, co-founder and CTO at Forage, is answering your questions for next week’s newsletter. Reply to this email with what you’d like to ask!
⭐ Headsets for Headaches – Meet your therapist in the metaverse.
⭐ Mighty Musk – A little birdy told me Twitter is in for quite the ride.
⭐ Combustion? Never Met Her – The EU is cracking down on engines.
📈 Reddit Highlight – A premium management class for just $44 billion.
GET TO KNOW NVTC 🤝
Last week, we asked you all to send over your questions for fellow NVTC member Tory Nelson, a product manager with 20 years of data-world experience. Keep an eye out on LinkedIn for her responses to your questions about her journey in tech and current momentum at startup Vibrant Planet.
NV PORTFOLIO HIGHLIGHT 🎢
If we can’t trust our shoes to be one-size-fits-all, then why do we trust healthcare to be? This is the notion that led to the founding of Zócalo Health, which aims to address disparities for Latinos seeking access to healthcare. As just one example, studies have shown that Latinos experience an average wait time of 24 days to see a doctor for a primary care visit.
To address the gap, Zócalo Health designed a virtual medicine service committed to Latino patients. Zócalo Health is different from other virtual medical offerings because it’s Latino-founded and is currently the only healthcare experience built specifically with Latino culture in mind.
Zócalo’s unique dedication to their patients shows. With a single membership, patients get access to same-day doctor visits, wellness services, and a personal health advocate. Recently announced, Zócalo will be participating in the AWS Healthcare Accelerator which will allow it to connect with more customers in the AWS network and further improve the health experience for its customers.
Good Reads 📖
For the rushed reader …
For the less rushed reader …
Can VR act as a digital therapeutic?
Imagine a therapy experience where every sensation you have is fully controlled and every stimuli is regulated, eliminated, or generated. Researchers are intrigued by virtual reality for its clinical potential to help those struggling with mental and behavioral health disorders, substance abuse, and even chronic pain, but we still have a long way to go.
Twitter is now an Elon Musk company
Dare I say the never-ending saga has come to an end. Last Friday morning, an SEC filing confirmed that $TWTR will be delisted from the New York Stock Exchange, and all Twitter executives and employees will answer to big boss Elon Musk. Well, that excludes CEO Parag Agrawal, CFO Ned Segal, policy chief Vijaya Gadde, general counsel Sean Edgett, and Chief customer officer Sarah Personette – they’ve all been fired.
No new combustion-engine cars from 2035, says European Union
The EU cemented its status as the world’s strictest emissions regulator. Under fresh regulation, it will enact a complete ban on new cars with internal combustion engines starting in 2035. Automakers will also have to reduce their 2021 average CO2 emissions by 55%. California is the only state in the US to set a similar goal.
Fire Up the Pre-Seeds🔥
Highlights from this week’s pre-seed raises:
STARTUP SNIPPETS 🔮
Galen Robotics: robotic assistance for the operating room, improving the surgeon’s performance and boosting manual dexterity 3x
The raise: $15 million in Series A funding
54gene: African genomics startup addressing the gap in African representation in pharmaceutical research
Setbacks: Layoffs affecting 55% of its workforce and a ⅔ drop in its valuation
LanzaTech: carbon recycling for carbon capture and utilization
Traction: a strategic agreement with Woodside Energy, which will design, construct, own, and maintain pilot facilities using LanzaTech’s technologies
Retirable: retirement planning for non-millionaires
The raise: $6 million in additional venture-backed seed funding
REDDIT HIGHLIGHT 📈
It’d be a shame if I didn’t add at least one meme about Elon Musk to this week’s newsletter, so here you go:
Outro🚪
Have any questions, feedback, or comments? Just reply here. We iterate and curate the newsletter according to your interests!
Some last matters of business:
If you’re a technologist (engineer or product manager / designer with a technical background) join us on the NVTC LinkedIn group if you haven’t. We’d love to have you!
Sign up here if you’re interested in co-investing with Necessary.
If you’re a startup founder, we’d love to help where we can! Brex provides full-stack finance solutions for startups. Sign up via Necessary and get bonus points.
Thanks for reading, and see you next week!
