Pre-IPO Sector News

September 13, 2021

• Last week, Bytedance was having preliminary talks with banks to obtain more than $3 billion to refinance its debt.

• Emulate raised $82 million in a new funding round.

• Notion acquired Automate.io, a startup that allows seamless integration with 200 services.

• Snyk raised $530 million at a $8.5 billion valuation.

• Varo Bank raised $510 million at a $2.5 billion valuation.

The news articles and links presented below are available for your reference.

BYTEDANCE

“ByteDance in Talks With Banks to Borrow Over $3 Bln, Sources Say”

• https://www.reuters.com/technology/bytedance-talks-borrow-up-5-bln-information-2021-09-08/

EMULATE

“Emulate Closes $82 Million Series E Financing to Scale Amid Rapid Growth in Organ-on-a-Chip Market”

• https://www.businesswire.com/news/home/20210907005165/en/Emulate-Closes-82-Million-Series-E-Financing-to-Scale-Amid-Rapid-Growth-in-Organ-on-a-Chip-Market

NOTION

“Notion Acquires India’s Automate.io in Push to Accelerate Product Expansion”

• https://techcrunch.com/2021/09/08/notion-acquires-indias-automate-io-in-push-to-accelerate-product-expansion/

SNYK

“Snyk Snags Another $530M As Valuation Rises to $8.5B”

• https://techcrunch.com/2021/09/09/snyk-snags-another-530m-as-valuation-rises-to-8-4b/

VARO BANK

“Fintech Start-up Varo Bank Triples Valuation to $2.5 Billion After Gaining Bank Charter”

• https://www.cnbc.com/2021/09/09/fintech-varo-bank-triples-valuation-to-2point5-billion-after-gaining-bank-charter.html