The average time to get a drug to market, crossing FDA hurdles, is 12 years and costs in excess of $1B. And in those twelve years, there is animal testing, human trials, and dozens of other steps that a company needs to go through. TARA Biosystems has found a way to generate human tissue OUTSIDE of the body that can be used in the drug development process to test safety and effectiveness without harming animals or risking human life. CEO Misti Ushio shares some insight on the potential of in vitro biology for drug development, TARA Biosystem’s different lines of business, and recent funding round from investors that include OMX Ventures, Merieux Equity Partners, Partnership Fund for New York City, Trancos Ventures, DEFTA Partners, and Tachyon Ventures.
Techs and the City
Lululemon Acquires Mirror for $500M to Move into Hardware
Lululemon, the Vancouver-based athleisure company, has agreed to acquire NYC-based Mirror, the connect fitness system for $500M in an all-cash transaction.
Calibrate Raises $5.1M to Treat Weight Loss Through Metabolic Change Rather Than Crash Diets
For the majority, traditional weight loss programs don’t work long-term. The weight loss industry has been focusing on the number on the scale, but the science tells us it’s more complicated. Calibrate, backed by $5.1M Seed round led by Forerunner Ventures, addresses metabolic change to bring sustainable results for the 175M Americans that are overweight. Isabelle Kenyon shares more about the science behind weight loss and the company’s future plans.
TABS Score is a Due Diligence Engine for Early Stage Venture Investors
Software is changing the way venture capitalists manage the business ranging from solutions that address recruiting, platform, ops, fund accounting, pipeline management, follow-ons, and cap table management. TABS Score is the solution that addresses the process of due diligence. Lexie Anderson shares more about the “Diligence-as-a-Service” platform.
Lili Raises $10M for its All-in-One Banking App for Freelancers to Manage Both Work and Personal Finance
With more than 60 million freelancers in the US and the belief that an increasing number of businesses will rely on freelance workers in the post-pandemic era, shares of Upwork rose a staggering 49.3% in May. Lili is the banking and financial services app that helps freelancers better manage their work and personal finances. work and personal accounts in one centralized platform, AlleyWatch caught up with serial entrepreneur Lilac Bar David to learn more about how Lili is playing a role in shaping the future of work, the company’s recent funding round, and how the app saves freelancers up to 60 hours and $1.7K per annum.
Chief Raises Another $15M to Expand the Private Club for Leading Female Execs
Carolyn Childers and Lindsay Kaplan identified a lack of resources and community for the 5 million women in America who identify as senior leaders. The duo launched Chief to help women build lines of succession into these leadership positions. AlleyWatch caught up with Carolyn to learn more about the flourishing business (8000+ waitlist) and the company’s transition to offer virtual services in the wake of the pandemic.
Cadence is the Ecofriendly Effective Solution to Organize Your On The Go Routine
Cadence is a cross-market brand that touches the lifestyle, beauty, wellness, fitness, and travel spheres. The mass-market potential comes from the fact that we aren’t asking consumers to change their existing habits: we’re providing a solution that fits into their daily lives. CEO and Cofounder Steph Hon shares how Cadence is taking plastic from beaches and turning into one of the most pragmatic purchases you’ll buy.
Elix Uses Personalized Chinese Herbal Medicine to Relieve Menstrual Symptoms
Studies reveal that 46% of women say they are not comfortable talking about their period as a reason for needing time off work yet 23% have been forced to take time off for severe menstrual symptoms. Elix Founder and CEO Lulu Ge chats with us about the new menstrual brand developing personalized herbal formulas to alleviate menstrual symptoms.
Relish Raises Another $5M for its Relationship Training App That Allows Couples to Strengthen and Rebuild
Lesley Eccles cofounded a unicorn with her husband. The toll on a relationship that building a flourishing business brings led her to launch an interactive relationship training app so that what we can all be our best selves for our partners. Meet Relish…
Pepper Raises $2M for Bras Designed for Small Chest Sizes
“We didn’t match the same patterns as many of the direct to consumer startups you see today that raised a lot of money early on and had high burn rates. We have been serendipitously building the business in a way that would help us weather the current storm: our team has always been lean with just 3 full-time employees, geographically distributed and remote (which investors initially questioned our ability to build a fast-growing DTC startup this day), and have burned very little over the last few years.”
Ten Little is the Fun and Personalized Way to Buy Shoes for Babies and Kids
As a new mom, I found myself struggling with knowing which shoes would support healthy development and which sizes were right for my daughter… I ordered multiple sizes, styles, and guessed which one might be a good fit by trying to feel her toes and heel. Given how quickly she was growing, I had to do this all over again every few months – all the while thinking there had to be a better way.