With so much going on in the city’s thriving ecosystem, it is easy to miss some of the happenings in the space. We keep you abreast of the things that you may have missed in NYC Tech News for the week ending 9/9 including the NYC startup fundings, NYC startup exits, and NYC startup events featuring news for Medallion, Blooming Health, and much, much more.
Medallion – $21.5M
Medallion, a web3 platform to allow musical artists to connect with fans, has raised $21.5M in funding according to a recent SEC filing. The filing indicates that the total offering is for $24.2M and there were fifty-one investors in this close. Founded by Stephen Vallimarescu, Matt Jones, and Derek Davies in 2020, Medallion has now raised a total of $30.5M in reported equity funding.
Momofuku Goods – $11.5M
Momofuku Goods, the pantry essentials brand from the famed restaurant group, has raised $11.5M in funding according to a recent SEC filing. The filing indicates that the round comes from two investors. Founded by David Chang in 2019, Momofuku Goods has now raised a total of $29M in reported equity funding.
Mm-hmm, sure. So, what’s the catch?
We know it may sound too good to be true. But thousands of investors are already smiling all the way to the bank, thanks to the fine-art investing platform Masterworks.
These results aren’t cherry-picking. This is the whole bushel. Masterworks has built a track record of 16 exits, including net returns of +10.4%, +27.3%, and +35.0%, even while financial markets plummeted.
But art? Really? Okay, skeptics, here are the numbers. Contemporary art prices:
- outpaced the S&P 500 by 131% over the last 26 years
- have the lowest correlation to equities of any asset class
- remained stable through the dot-com bubble and ’08 crisis
Got your attention yet? Alleywatch readers can skip the waitlist with this exclusive link.
point.me – $10M
point.me, a search engine for travel using rewards, has raised $10M in Series A funding from investors that include Plug and Play Ventures, Gaingels, RiverPark Ventures, Thayer Ventures, and PAR Capital Management. Founded by Adam Morvitz and Tiffany Funk in 2020, point.me has now raised a total of $12M in reported equity funding.
Blooming Health – $4.2M
Blooming Health, a digital platform to engage older adults and their family member to address aging in place, has raised $4.2M in Seed funding from investors that include Afore Capital, Crossbeam Venture Partners, Metrodora Ventures, and Evan Moore. Founded by Naman Gupta, Kavitha Gnanasambandan, and Nima Roohi Sefidmazgi in 2020, Blooming Health has now raised a total of $4.3M in reported equity funding.
Bandana – $3.8M
Bandana, an online jobs platform for hourly workers, has raised $3.8M in Seed funding from investors that include General Catalyst, Craft Ventures, Triple Impact Capital, and Sarah Smith Fund. Bandana was founded by Timothy Makalinao, Caleb Lee, and Larry Zhang in 2022.
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