Friday Fundings: Erasca, Mojo Vision, and Cheetah
Erasca Raises $200 Million to ‘Erase Cancer’
Erasca, the cancer treatment company that gets its name from the phrase “erase cancer,” raised $200 million in a recent Series B funding round. The funding raises Erasca’s total to more than $260 million, a huge amount for a company so new.
Erasca focuses on developing long-term treatments for multiple types of cancer. “At Erasca, we are doing everything we can to help these patients live longer and healthier lives by taking an aggressive long-term approach to tackling this disease with leading-edge science and world-class talent. We are immensely grateful to have new and existing shareholders who embrace our mission to erase cancer,” said Erasca’s CEO, Dr. Jonathan Lim , in a statement.
Mojo Vision Raises $51 Million for Vision Impairment Tech
A recent round of investments totaling $51 million raised Mojo Vision’s funding to $159 million. The vision startup doesn’t currently have a product on the market, as researchers are still in the development phase, but eventually, the company plans to offer smart contact lenses. These lenses will give wearers “scene enhancement and contrast.”
CEO Drew Perkins said Mojo Vision has seen an increase in interest after the company announced earlier in 2020 that they will be working with the FDA’s Breakthrough Devices Program. Together with the FDA, Mojo Vision hopes to get smart contact lenses to the visually impaired.
“This new round of funding brings more support and capital from strategic investors and companies to help us continue our breakthrough technology development. It gets us closer to bringing the benefits of Mojo Lens to people with vision impairments, to enterprises and eventually, consumers,” Perkins said this week.
Innovations in Contactless Delivery Raise $36 Million for Cheetah
Just a few months ago, San Francisco-based startup Cheetah delivered wholesale ingredients and other supplies to restaurants. Then, lockdowns went into effect and Cheetah saw an 80% decline in business as restaurants and small businesses closed. The company pivoted to contactless deliveries of food and essential supplies, with a service called “Cheetah for People.” That move has paid off, as Cheetah just raised $36 million in Series B funding.
What sets Cheetah apart from competitors is its fleet of refrigerated trucks. These trucks, formerly used for restaurant deliveries, have now become mobile warehouses and make it possible for Cheetah to offer a contactless pickup service. Customers pull up to the trucks after placing an order and employees load items into their trunks.
Cheetah’s representatives say that an advantage of the model is that they can offer wholesale prices on food items and guarantee next day delivery. In the past two months, Cheetah has seen sales skyrocket to $1 million per month.
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