DCM Newsletter — Q1 2023
DCM Firm News
Ibrahim AlSuwaidi named Rising Star VC under 40
Hailing from the US team, Ibrahim AlSuwaidi was recognized by the Venture Capital Journal as a Rising Star VC under 40. Ibrahim is an engineer and quant at heart and brings his unique background to partnerships with ambitious founders solving some of the world’s hardest problems.
US
Sequence purchased by WeightWatchers
WeightWatchers purchased Sequence, a virtual care service that combines lifestyle changes and medication for weight loss, for $132M. The purchase comes as WeightWatchers aims to move into the weight loss medication market. DCM led the Seed round for Sequence back in 2022.
Plenty ranked #3 on FoodTech 500 list
Plenty was ranked #3 out of 500 on the FoodTech 500 list. The list, inspired by the Fortune 500, is the definitive list of the global entrepreneurial talent at the intersection between food, technology, and sustainability. DCM led the company’s Series A round in July 2016.
Skylo partnered with Deutsche Telekom to offer a global satellite IoT extension
At Mobile World Congress, Skylo announced its partnership with Deutsche Telekom to offer customers a satellite extension that would allow IoT connectivity from anywhere in the world. DCM co-led Skylo’s $14M Series A round in January 2020, alongside Innovation Endeavors and others.
China
QuantaSing raises $41M in US IPO
QuantaSing, a digital learning platform for adults, had a successful IPO in the US, raising approximately $41M at mid-range pricing and marking this the first traditional IPO out of the DCM VIII portfolio. DCM has held a board seat with QuantaSing since 2018 after leading the company’s Series B round.
Tiamat raises $10M
Tiamat, an AI image generation service provider, raised $10M in a Series A funding round, co-led by DCM and Oasis Capital. DCM also exclusively led Tiamat’s Series Seed round in 2022.
Gloria Zhang comments on ChatGPT rush
Gloria Zhang, an investment manager based out of DCM’s China offices, participated in a story for Nikkei Asia, covering the ChatGPT rush and AI landscape in China. The article includes a quote from Gloria, highlighting the transformative power that AI offers across a multitude of industries.
Japan
atama+ partnered with Kamiyama Marugoto College of Technology to offer free edtech for students
atama+, an AI teaching startup, announced its partnership with Kamiyama Marugoto College of Technology to offer the technology as a free resource for students. The college is also using atama+ for students to study mathematics at home as part of a pre-enrollment program. DCM first invested in atama+ during a Seed round in 2018.
CADDI expands to the US
CADDI, an automated CAD and cost analysis platform for manufacturers, announced that it has expanded to the US. The company has established a local subsidiary offering its procurement and manufacturing services to its US customers. DCM participated in CADDi’s Series B funding round in December 2018.
