Friday Fundings: Whoop, Scopely, and FreshToHome
Whoop, the Fitness Tracking Company, Raises $100 Million
Whoop, the fitness tracking company, closed a $100 million Series E funding round. This values the company at $1.2 billion. The round was led by IVP, a venture capital firm. Several high-profile athletes have also invested in the company, including Patrick Mahomes, Rory McIlroy, and Kevin Durant.
Whoop’s wristbands track movement, sleep, and workouts, and its popularity has climbed during the pandemic. More people are exercising alone instead of at gyms or in classes, so they are turning to Whoop for guidance. Additionally, sports leagues have used Whoop bands to monitor athletes for symptoms of COVID-19, which has put the product in the spotlight. Some companies also adopted the bands as a way to monitor employees for COVID-19 symptoms. With the new capital, Whoop plans to grow its membership and make improvements to its software, hardware, and analytics.
Scopely Raises $340 Million Amidst Gaming Boom
Scopely, a mobile game company, just raised $340 million in a Series E funding round from investors including Wellington Management, NewView Capital, and TSG Consumer Partners. The funding round brings Scopely’s valuation to $3.3 billion—nearly double what it was worth earlier this year.
Scopely’s games, including Star Trek: Fleet Command and Marvel Strike Force, have been wildly popular during the pandemic as people look for ways to entertain themselves at home. With its new funding, Scopely plans to acquire more games and expand into new product categories.
FreshToHome Secures $121 Million in Fresh Funding
FreshToHome, an India-based ecommerce company, just raised $121 million in Series C funding led by Investment Corporation of Dubai. FreshToHome specializes in online sales of meat, fish, vegetables, and other fresh produce. The company says its goal is to “Uber-ize farmers and fishermen” by connecting consumers directly to the people providing their food.
FreshToHome offers service in Delhi, Mumbai, Pune, Bengaluru, Hyderabad, and several other Indian cities. During the pandemic, the startup’s popularity has soared as people have been reluctant to shop at meat and vegetable markets in-person. FreshToHome is currently processing about 1.5 million orders each month, compared to 420,000 monthly orders during this period last year.
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