Food Services Gobble Venture CapitalWednesday July 29th, 2015
Venture investors have gotten themselves quite an appetite. They invested $418.4 million into a dozen restaurant and food-service startups in the second quarter of this year, more than in any other similar period since 1992, when Dow Jones VentureSource began keeping records, Yuliya Chernova reports for Dow Jones VentureWire. The second-largest quarter by both total invested and the number of deals was the second quarter of last year, when seven food startups raised $145.7 million. In all of last year, food startups raised $215 million. That marked a resurgence of the sector that was previously attracting venture investors in any significant amounts only back in the late 1990s.
ALSO IN TODAY’S VENTUREWIRE (subscription required):
Golden Gate Ventures has raised a second fund, closing $50 million to back startups selling technology and services throughout the Southeast Asian market, VentureWire has learned.
Online lending startups are filling niche after niche of the financial landscape, and short-term loans to small businesses is the one that Behalf is going after. The startup just received $119 million in commitments, including equity and a credit facility, to expand its business, the lender told VentureWire.
When Carl Waldekranz started Tictail in 2012, it was to help his mom more easily sell her custom porcelain designs online. Since then, the Stockholm-based startup has evolved from providing a do-it-yourself storefront and has raised $22 million from investors who believe the startup could do for fashion designers and artists what Etsy has done for craftspeople.
G2 Crowd has raised $7 million to build a repository of crowdsourced reviews of business software so that buyers have better information on what to buy.
(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit http://on.wsj.com/DJPEVCNews, scroll to the bottom and click “try for free.”)
ELSEWHERE AROUND THE WEB:
Alibaba Allocates $1 Billion for Cloud Computing. Alibaba Group plans to invest $1 billion in cloud computing globally as it seeks to compete with Amazon.com in Web services, Gillian Wong reports for The Wall Street Journal. The e-commerce giant said part of the money will go to set up data centers in the Middle East, Japan and Europe. Alibaba’s cloud-computing arm, Aliyun, opened its first overseas data center in Silicon Valley earlier this year and plans to set up another in the eastern U.S.
Amazon Floats Plan to Manage Drone Navigation. Some of the biggest players in the world of commercial drones are drawing up plans for how to safely manage the growing flock of unmanned vehicles in what are quickly becoming crowded skies. On Tuesday, Amazon.com laid out a proposal centered on slicing U.S. airspace into segments for different categories of unmanned aircraft, while keeping them all away from airplanes, the WSJ’s Jack Nicas writes.
Demand for Coding Skills Prompts Career Changes. The tech boom has made computer coding an attractive career change for many workers who want to reboot their lives, the New York Times reports.Original column feature on The Daily Startup from WSJ