5 Funding Rounds To Know About This Week: Yaga, Deel, Veradermics, Refurbed and Chemify

From fashion to hair growth and HR, this week’s funding rounds are a diverse mix of companies.

If anything, they are a sign that investors have confidence in a number of sectors, and they aren’t slowing down.

So, who are some of the biggest funding rounds of the week?

We take a look…

Yaga: €4 Million Pre-Series A

Tallin-based Yaga, a marketplace for pre-loved fashion items, has raised €4 million in a pre-Series A.

Founded by Ane Anapuu, Yaga allows users to buy and sell second hand clothing items through the app, which makes the whole process much easier, more secure and more efficient.

Since it launched, the company, which is now made up of 25 people, has managed to stay profitable, showing a real demand in the market.

With the new funding, Yaga is planning to expand into Africa and the Middle East, grow its team and tackle new customer acquisition.

“Our growth in South Africa proves that this is a global movement, not limited to Europe or the US,” said CEO Aune Aunapuu to Tech.eu. “With this funding, we will explore new expansion opportunities as we continue to build the sustainable fashion marketplace of the future.”

Who led the round: Specialist VC, with support from H&M Group Ventures, Trind Ventures, Startup Wise Guys, and a network of angel investors

Deel: $300 Series E

Deel, the HR platform that has become a household name, this week announced their Series E raise.

The $300 million Series E funding round puts the company’s value at a huge $17.3 billion. Earlier this year, Deel surpassed $1 billion in annual recurring revenue (ARR). In September, they marked 3 consecutive years of profitability and their first $100 million revenue month.

Serving over 35,000 customers across 150 countries, Deel now has their eye on expanding their offering. According to a press release on their site, they are planning to double down on expanding their infrastructure, advance AI-powered payroll and HR products, and lay the foundation to serve 100 million employees worldwide.

Who led the round?: Ribbit Capital, Andreessen Horowitz and Coatue Management.

Veradermics: $150 Million Series C

Veradermics a US dermatologist-founded, biopharmaceutical company has raised a $150 million series C round to help it tackle hair loss.

With its new funding, Veradermics is planning to continue studies for its hair loss prevention pill, before filing it for FDA approval. The pill, which uses an extended-release formulation of ‘minoxidil’ – which was used in the 1980s as a hair loss treatment – is designed to give people easier and more effective ways to take the medicine.

Through their extended release version of the medicine, Veradermics’ pill is meant to lengthen exposure of the drug to hair follicles over time, making it more effective.

And it seems to work, with 95% of those studied seeing better hair coverage. And with the hair loss market exceeding $30 billion by 2028, it’s no surprise that Veradermics’ fund was oversubscribed.

Who led the round?: SR One, with participation from new investors Viking Global Investors, Marshall Wace, Invus, funds managed by abrdn Inc., Columbia Threadneedle Investments, Infinitium, LifeSci Venture Partners, and current investors including Longitude Capital, Suvretta Capital Management, Surveyor Capital (a Citadel company), and others.

Refurbed:£44 Million Growth Round

Refurbed, a startup founded in Vienna that has created a marketplace for refurbished electronics and sports goods, has just closed a £44 million funding round.

The platform, which professionally refurbishes items before reselling them, is setting out to help extend the shelf-life of existing products. This helps reduce waste and encourages people to buy used, rather than constantly buying new.

According to Tech EU, to date, refurbed has processed 9 million devices and served 4 million customers across 12 European markets. With a big presence in Germany and Austria, the company has some impressive stats about its sustainability contributions.

Next, refurbed has set it eyes on the UK as it expands across Europe. And with the UK focusing on net-zero, it could be a great time to break into the market.

Who led the round?: Alex Zubillaga, Orilla, Playtomic, and Cabify, with participation from existing shareholders Evli Growth Partners, Bonsai, Almaz, C4 Ventures, and Speedinvest. (Tech EU)

Chemify: $50 Million Series B

Chemify, a Glasgow-based startup that combines AI with robotics and chemistry to make small molecules, has announced its Series B raise.

The funding round comes after the company opened its chemistry facility Chemifarm in June. The facility is believed to be one of the world’s largest curated libraries of validated chemical reactions.

Lee Cronin, CEO at Chemify, plans to use the funds to continue developing Chemputation, the company’s AI and its robotic production platform, to help make molecule creation easier.

In a press release, the company commented: “Our vision is that Chemify will be able to design and make any molecule on demand for our customers across all of chemistry, from drug discovery to new catalysts and electronic materials.”

Who led the round?: Wing Venture Capital and Insight Partners, with participation from a syndicate including 8VC and existing backers Triatomic Capital, Blueyard, Rockspring and Eos. (Insider)