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Venture capitalists’ appetite for food-delivery and meal-kit services seems to be insatiable lately. The meal-delivery service Munchery the latest that is fundraising, and it is being valued at about $300 million in the new round, The Wall Street Journal’s Douglas MacMillan reports. The startup’s service delivers prepared meals that are then heated up at a person’s home. It was just a few weeks ago that the Journal also broke the news about meal-kit service Blue Apron out fundraising at a valuation of about $2 billion. Blue Apron’s service delivers boxes of ingredients that the user then prepares and cooks. Another venture-funding in the space was in late April when meal-delivery service Sprig raised $45 million. That service delivers meals, like Munchery, but that are already warmed. Other meal-kit services–including Plated, HelloFresh and Marley Spoon–also have sprouted in the last few years. Now many of them are looking to grow beyond San Francisco and New York–the tech hotbeds where they started–and other large cities.
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For the new Munchery round, two previous investors, SherpaVentures and Menlo Ventures, led the deal, according to a person familiar with the matter.
ALSO IN TODAY’S VENTUREWIRE (subscription required):
Ambrx has agreed to be acquired by a consortium of corporate and financial groups for an undisclosed amount. Ambrx’s technology enables it to combine antibodies with other types of drugs to create medicines for cancer and other diseases.
Mode Media, the startup previously known as one-time IPO candidate Glam Media, has raised $30 million led by an existing investor. German media company Hubert Burda Media led the late-stage round in the 11-year-old company that evolved from an advertising and publishing site to be a hub for video creators to share and get paid for original content.
PicnicHealth, a company that collects health information on patients with complex medical conditions and returns the data in an easy-to-read format, will partner with uBiome, a company that sequences the microbiome, or the collected microbes in the human body. Through the partnership, patients who view their medical records through PicnicHealth will also be able to view information about their microbiome.
Planview has acquired Troux Technologies for undisclosed terms. The two companies specialize in project-planning software.
Alarm.com Holdings, a wireless alert security system provider backed by ABS Capital and Technology Crossover Ventures, has filed for an initial public offering, according to a Securities and Exchange Commission filing.
(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit http://on.wsj.com/DJPEVCNews, scroll to the bottom and click “try for free.”)
VCs Make Predictions About the Next Big Thing. Robocars–autonomous electric vehicles, to be exact–won the contest of the next big thing in a contest that pits five venture capitalists against one another about predicting the future. Each year five VCs take part in the the “top 10 Tech Trends” event that is sponsored by the Silicon Valley business forum Churchill Club. The VCs are supposed to name two non obvious trends that they believe will undergo large growth in the next five years. The hundreds of people in attendance vote on the winner. This year’s wining idea of robocars was from Steve Jurvetson, of Draper Fisher Jurvetson. Also taking part in the event were Rebecca Lynn, of Canvas Venture Fund; Jenny Lee, of GGV Capital; Bill Gurley, of Benchmark Capital; and Shervin Pishevar, of Sherpa Ventures.
Spotify’s Tricky Pivot to a Video Service. Spotify is typically described as a music-streaming service, and that description, as well as how it has come to be known by users, may make it difficult to transition into also being a place for video, the WSJ’s Mike Shields writes. The company announced last week that it will be adding video from media partners. Some of that video also may be set up to work whether or not a person is actually looking at their device’s screen.
Twitter Has Held Talks to Acquire Flipboard. Social-networking company Twitter has held talks to acquire the startup Flipboard, though the talks have stalled, re/code’s Kara Swisher reports. Representatives for Twitter and Flipboard declined to comment on the report, which said talks about the acquisition started at the beginning of the year. The talks about any acquisition reportedly are stalled.
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