Forager raises $10 million Series A for cross-border tech

Forager, the Chicago-based technology and logistics company focused on cross-border freight, announced Wednesday morning that it had closed a $10 million Series A round of venture capital funding.

The Series A was led by Silicon Valley firm U.S. Venture Partners (USVP); previous investor Chicago Ventures and new investor Soma Capital also participated in the round. Forager’s valuation was not disclosed.

CEO Matt Silver, VP of Finance & Analytics Jordan Salins, and COO Jessie Essman founded Forager in January 2019. Silver’s industry experience came from growing up at Coyote Logistics, the freight brokerage founded by his father in 2006, where he managed cross-border operations in Mexico and Canada. In November, Forager launched the first version of its cross-border freight matching and pricing platform, SCOUT.

FamPay Bags $4.7Mn Seed Funding To Build Fintech Platform For Teenagers

Bengaluru-based fintech startup FamPay, on Thursday (March 12), announced a $4.7Mn seed funding round from Y Combinator, Venture Highway, Sequoia India and Global Founders Capital (GFC).

Founded by recent graduates of Indian Institute of Technology (IIT) Roorkee, Kush Taneja and Sambhav Jain, FamPay is currently building a payments network which will specifically cater to teenagers in India.

Glisten uses computer vision to break down product photos to their most important parts

It’s amazing that in this day and age, the best way to search for new clothes is to click a few check boxes and then scroll through endless pictures. Why can’t you search for “green patterned scoop neck dress” and see one? Glisten is a new startup enabling just that by using computer vision to understand and list the most important aspects of the products in any photo.

Now, you may think this already exists. In a way, it does — but not a way that’s helpful. Co-founder Sarah Wooders encountered this while working on a fashion search project of her own while going to MIT.

“I was procrastinating by shopping online, and I searched for v-neck crop shirt, and only like two things came up. But when I scrolled through there were 20 or so,” she said. “I realized things were tagged in very inconsistent ways — and if the data is that gross when consumers see it, it’s probably even worse in the backend.”

Human Interest Raises $40M Series C To Close Retirement Savings Gap for SMBs

When it comes to small and medium-sized businesses (SMBs), it’s not always as easy to offer 401(k)s as a benefit. And owners of those businesses often struggle with being able to save for retirement themselves. A startup out to change that has just raised a new round of funding to help it advance on its goal.

Human Interest, a retirement plan provider for SMBs, announced today it has closed a $40 million Series C round just months after raising a $15.4 million Series B.

Oberndorf Enterprises LLC, a family-owned office led by William Oberndorf, led the latest round, which brings Human Interest’s total debt and (mostly) equity raised to just over $75 million since its April 2015 inception. Combined, the last two rounds total more than three times the capital Human Interest raised during its first four years of operation, the company said.

YC-backed Cleanly merges with NextCleaners to vertically integrate

Cleanly,  the YC-backed company that looked to bring tech to the laundry industry, has today announced a merger with NextCleaners. The New York-based companies signed an all-stock deal after more than a year of negotiations, with Cleanly founder and CEO Tom Harari serving as Chairman of the Board and Next CEO Kam Saifi will stay in the Chief Executive role at the new company.

Palm oil alternative startup C16 Biosciences raises $20 million

C16 Biosciences, a company seeking to commercialize a manufactured alternative to palm oil, announced yesterday that it has raised $20 million in Series A funding from backers including the Bill Gates-led Breakthrough Energy Ventures.

Why it matters: Palm oil is used in a massive array of products — from shampoo to foods to biofuels.

  • Palm plantations are fueling deforestation that releases CO2 and erodes wildlife habitat in multiple countries.

How it works: The New York-based startup has a fermentation-based “bio-manufacturing” process for “brewing palm oil like beer.”