Fresh funds hit multiple companies’ bank accounts last week in the Bay Area. Some plan to use their new capital to hire additional talent and others have their sights set on market expansion. There was also an interesting exit in the biotech industry. In case you missed it, here’s what happened last week in Silicon Valley. This is the Built In SF Weekly Refresh.
Ginkgo announced plans to acquire Zymergen. The Boston synthetic biology company plans to acquire Zymergen, an Emeryville-based biotech startup, for $300 million. The acquisition is expected to close in the first quarter of next year. [Built In SF]
Aptos Labs gained $150M. The Palo Alto-based Web3 company plans to use its Series A funding to hire more developers and build out new initiatives. Aptos’ founding team developed what would become Aptos Diem blockchain technology while still at Meta before the project was shut down. [Built In SF]
Elation Health raked in $50M. The Series D funding co-led by Generation Investment Management and Ascension Ventures will be used to scale Elation’s market reach and platform features. Elation Health’s primary care health platform helps practices thrive with clinical-first solutions, according to the company. [PR Newswire]
Bay Area Tech Quote of the Week
Frontegg pulled in $40M. The Series A funding will help the comprehensive user management platform expand its product and infrastructure investments and hire new R&D and go-to-market employees. Frontegg also announced plans to relocate its headquarters to San Francisco from Tel Aviv. [Built In SF]
Arable raised $40M. The agricultural intelligence company will use its Series C funding from Galvanize Climate Solutions to advance product development of its crop field sensors. Arable’s field assessment tools are used by farmers to gain plant and weather insights and drive climate resilience. [Built In SF]
In other funding news: Serverless Postgres database provider Neon secured $30 million in Series A funding led by GGV Capital. [PR Newswire]
Local delivery orchestration platform Nash raised $20 million in Series A funding led by Andreessen Horowitz. Nash also announced a $7.8 million seed round bringing its total capital raised to date to $27.8 million. [Nash]
