Today: Jun 14, 2024

November 2023 Startup Funding Roundup: The Term Sheet Scoop

6 months ago

Startup funding in the state dropped in November 2023 compared to the previous month, with 30 startups raising a total of $61.9 million, a tally of Form Ds filed with the SEC reveal. This is a significant decrease from October’s total of $510 million, but is more in line with September’s figure of $86.4 million. Notable moves included salsa-making firm Tenayo Foods raising $600k, pet care company MySimplePetLab raising $3 million and software firm In Person Donations raising $400k.

  • Tenayo Foods in Boulder reported a $600k injection of investment last month out of a $1 million goal. Selling six salsa varieties for $12 or $15, the firm has raised $3.5 million to date, according to SEC filings.
  • MySimplePetLab in Centennial raised $3 million in November. It sells at-home testing kits for dogs and cats, with care kits ranging from $40 for an ear infection care kit to a $140 stomach trouble kit. In total, the firm has raised $10.6 million to date, according to SEC filings.
  • In Person Donations Inc. in Denver saw a $400k capital injection last month, the company’s first capital raise. It incentivizes people to donate to thrift stores by offering brands’ customers discount codes if they donate to a thrift store. Software then confirms a donation at one of the 15,000 participating stores by verifying location and taking a picture of the item during the drop off and texts a discount code to the customer.

Startups in Boulder raised a total of $26.55 million in November. In Denver, they raised $21.69 million across 11 deals, while startups outside of Denver and Boulder raised $13.7 million across 13 deals.