$350M rockets startup into unicorn ranks

Plus, hybrid work draws startup (and VC) attention August 22, 2023 Hi, {NAME}. Hoping to travel to space, but you’re not an astronaut? A startup working to develop what could be the first private space station just raised $350 million in fresh capital in a deal that makes it the second most heavily funded spacetech startup, behind only [SpaceX](. The deal comes as space tech funding in general [has fallen back to Earth](. Plus, we look at [startups catering to the growing hybrid work trend]( and another very large funding round to start off the week — this time to a startup working at [the intersection of AI and biotech](. 🚀 [Houston, we have a unicorn]( [Axiom Space]( a startup working on what it says will be the first commercial space station, flew past a billion-dollar valuation with a new $350 million funding round led by Saudi Arabia’s [Aljazira Capital]( and Korean health care company [Boryung Pharmaceutical](. The Houston-based company also works with [NASA]( on things like making low-orbit spacesuits for the Moon. 🧑 💼 [Startups take notice of growing hybrid work trend]( It’s estimated that by the end of this year, more than half of U.S. knowledge workers and close to 40% globally will have hybrid work arrangements, in which they go into the workplace at least once a week. But hybrid work also presents plenty of challenges for employers, from managing desk sharing to IT security. We look at the [funded startups tackling those issues](. Related Crunchbase Pro list: [Venture-Backed Hybrid Work Startups]( 🧪 [AI + biotech = big bucks]( [Andreessen Horowitz]( co-led a $200 million Series B round for [Genesis Therapeutics]( which is using AI to develop small molecule drugs and make drug discovery more successful. 🩺 [Top 10: Biotech leads with $155M to continue fighting disease]( Last week’s large deals were also led by biotech. [Abcuro]( which develops therapies for the treatment of autoimmune diseases and cancer, led the [10 largest U.S. funding rounds last week]( with a $155 million Series C. Other sectors taking in nine-digit rounds include fintech, telecom and crypto, as well as artificial intelligence with another big round for AI startup [Anthropic](. 💻 [Slow times for cybersecurity M&A]( The first seven months of the year saw only 34 cyber startups get acquired, putting dealmaking at its slowest pace since 2017. However, a couple of recent, large deals offer a positive indicator of pent-up demand. Related Crunchbase Pro list: [M&A Involving VC-Backed Cybersecurity Startups]( 👀 [Early-stage unicorns are now a rare sight]( Only 18 of the new unicorns minted in 2023 joined [The Crunchbase Unicorn Board]( after an early-stage funding round. That’s a sharp drop from the prior two years. The number of young startups to hit unicorn status quickly this year would be a lot lower, however, if it weren’t for two letters — AI. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [Axiom Space]( [$350M]( / [Series C]( Axiom Space is a commercial space station company that connects to the ISS. Categories: Advanced Materials • Aerospace • Industrial Manufacturing • Space Travel Founders: [Kam Ghaffarian]( [Michael Suffredini]( Investors: [Aljazira Capital]( (Lead), [Boryung Pharmaceutical]( (Lead) [Genesis Therapeutics]( [$200M]( / [Series B]( Genesis Therapeutics unifies AI and biotech to accelerate the discovery of new medicines. Categories: Artificial Intelligence • Biotechnology • Information Technology Founders: [Ben Sklaroff]( [Evan Feinberg]( Investors: [Andreessen Horowitz]( (Lead), [BlackRock]( [Fidelity Management and Research Company]( [+ 5 more]( [FirstCry]( [4.3B INR]( / [Post-IPO Secondary]( FirstCry is an online shopping store offering a range of baby care products and toys. Categories: E-Commerce • Shopping Founders: [Amitava Saha]( [Prashant Jadhav]( [Sanskriti Hattimattur]( [Supam Maheshwari]( Investors: [DSP Family Office]( [MEMG Family Office.]( [Sharrp Ventures]( More Fundings Company Amount / Round Lead Investor [Thyme Care]( $60M / [Series B]( [Foresite Capital]( [ENOUGH]( 40M EUR / [Venture Round]( [CPT Capital]( [Ghost]( $30M / [Series B]( [Cathay Innovation]( [Qualifyze]( $12M / [Venture Round]( [H14]( [Anghami]( $5.0M / [Post-IPO Equity]( [SRMG Ventures]( [All Recent Funding Activity]( Recent Acquisitions [Honan Insurance Group]( Pending acquisition by [Marsh]( for Unknown More Acquisitions Company Acquired By Amount [Artemis Consulting]( [ARETUM]( Unknown [All Recent Acquisition Activity]( #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.