Gunderson Dettmer represented client Geltor, a biodesign startup, in its $91.3 million Series B financing led by CPT Capital with significant commitment from WTT Investment Ltd., to expand its ingredients-as-a-service platform globally.
This alert is the third in our series of Privacy Topics: Practical Guidance from Gunderson Dettmer – a collection of practical privacy and data security guidance and accompanying materials designed to facilitate your company’s compliance efforts. As companies throughout the U.S. are starting to reopen their offices after months of lockdown due to the COVID-19 pandemic, today’s alert focuses on privacy considerations under the California Consumer Privacy Act (CCPA) and other laws in connection with COVID-19 screening in the workplace. The CCPA went into effect on January 1, 2020, and enforcement by the California Attorney-General began on July 1, 2020, with no delay in enforcement despite the COVID-19 pandemic.
Gunderson Dettmer client Neotribe Ventures announced the formation of its new $216M fund, Neotribe Ventures II.
What now? In the landmark Schrems II decision, the European Court of Justice invalidates the Privacy Shield; upholds the Standard Contractual Clauses (but only with additional scrutiny and safeguards). Yesterday’s Schrems II decision, which invalidated the U.S.-EU Privacy Shield Framework and added complexity to the use of Standard Contractual Clauses, has major implications for international data transfers.
Gunderson Dettmer represented client Cityblock Health, a startup focused on using tech to tackle health disparities, in its $53.5 million Series B+ financing led by Kinnevik AB. AIMS Imprint of Goldman Sachs Asset Management and Alphabet
Gunderson Dettmer represented client Mithril Capital as it co-led the $50M Series A financing of Adagio Therapeutics, a company developing best-in-class antibodies that can broadly neutralize SARS-CoV-2, SARS-CoV-1 and additional potentially emergent coronaviruses.
Gunderson Dettmer represented client Tiger Global in the $100M Series D financing of Vedantu, an online e-learning platform that features real-time personalized learning.
Gunderson Dettmer represented client INCE Capital as it led the Series B financing of EEO, a Chinese K12 online education startup Empower Education Online Ltd.
Gunderson Dettmer represented client TuSimple, a global self-driving technology company, in its business collaboration with Navistar.
Gunderson Dettmer represented client Intelligent Imaging Systems Inc. (IIS) and its wholly owned subsidiary Drivewyze Inc., the leading providers of safety and efficiency solutions for the transportation industry in North America, in its $60 million investment from Sageview Capital, a growth capital firm investing in leading tech-enabled businesses.
Gunderson Dettmer represented client UiPath, the leading Robotic Process Automation (RPA) company, in its $225 million Series E financing bringing the company’s post-valuation to $10.2 billion.
Gunderson Dettmer represented DCM in the formation of its new DCM IX family of funds with capital commitments reaching $780 million in the aggregate.
Gunderson Dettmer managing partner David Young offers his insight on how Gunderson has evolved as a firm and is operating through the coronavirus pandemic in the Law360 article “Law Firm Leaders: Gunderson Dettmer’s David Young.”
Gunderson Dettmer client Datrium, a virtual server flash storage system designed to simplify the multi-cloud data lifecycle, announced its acquisition by VMware.
Gunderson Dettmer client Velodyne Lidar, the pioneer developer of lidar technology, announced its merger with Graf Industrial Corp.
Gunderson Dettmer represented client XSKY (Beijing) Data Technology, a China-based technical company focusing on software-defined-infrastructure products and services, in its $45 million (320 million yuan) Series D financing led by China state-owned Venture Capital Fund.
Gunderson Dettmer represented Tiger Global as it co-led a $750 million Series E investment in Zuoyebang, a Chinese online tutoring platform. The round was joined by new investor Qatar Investment Authority and return backers SoftBank Vision Fund, Sequoia Capital China, Tiantu Capital and Xiang He Capital.
Gunderson Dettmer client Oscar, a direct-to-consumer health insurance company, closed a $225 million funding round. Baillie Gifford and Coatue were new investors in this round while Alphabet, General Catalyst, Khosla Ventures, Lakestar and Thrive Capital were previous investors that participated.
Gunderson Dettmer represented Lightspeed India Partners as it co-led the Series A investment in Nextbillion.ai, a Singapore-based startup building AI-based mapping solutions to support logistics, ride hailing, delivery and autonomous driving businesses.
Gunderson Dettmer client Prosus Ventures, formerly, known as Naspers Ventures led the Series A investment into Shipper, an Indonesian startup offering logistics management analytics to sellers on e-commerce platforms.
Gunderson Dettmer client Fabelio, an online furniture retailer, raised its million Series C financing led by AppWorks, MDI Ventures and Endeavour Catalyst.
Form BE-10 is part of a recurring 5-year benchmark survey designed by the U.S. Department of Commerce’s Bureau of Economic Analysis (“BEA”) to gather current economic data on the foreign investment operations of U.S. multi-national enterprises and their foreign affiliates. All “U.S. reporters” with one or more foreign affiliates during their 2019 fiscal year must make Form BE-10 filings regardless of whether they were contacted by the BEA.
The deadlines for filing Form BE-10 with the BEA have been, in both cases, extended to August 31, 2020 (originally May 29, 2020 for filers with less than 50 foreign affiliate filings and June 30, 2020 for filers with 50 or more foreign affiliate filings).
Form BE-10 is part of a recurring 5-year benchmark survey designed by the U.S. Department of Commerce’s Bureau of Economic Analysis (“BEA”) to gather current economic data on the foreign investment operations of U.S. multi-national enterprises and their foreign affiliates. All “U.S. reporters” with one or more foreign affiliates during their 2019 fiscal year must make Form BE-10 filings regardless of whether they were contacted by the BEA. Latin American venture-backed businesses that include U.S. holding companies in their corporate structure may be U.S. reporters.
The deadlines for filing Form BE-10 with the BEA have been, in both cases, extended to August 31, 2020 (originally May 29, 2020 for filers with less than 50 foreign affiliate filings and June 30, 2020 for filers with 50 or more foreign affiliate filings).
Gunderson Dettmer client Zero Mass Water, developers that use solar energy to provide safe, clean drinkable water from the atmosphere, raised a $50 million Series C1 financing led by Blackrock Innovation Capital Group.
Gunderson Dettmer client Demandbase, an account-based marketing platform to help maximize the B2B marketing, acquired Engagio.
Gunderson Dettmer represented FirstMark Capital in the formation of two funds: FirstMark V, focused on early-stage company investments and FirstMark Opportunity Fund III, focused on follow-on investments.
Gunderson Dettmer client OmniLatam, a financial services platform for companies in Latin America, announced its acquisition by Greensill.
SBA Issues First Guidance Following Passage of the PPP Flexibility Act
Following the enactment on June 5, 2020 of the bipartisan Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”), the U.S. Small Business Administration (“SBA”) has issued new guidance interpreting and implementing the act. As discussed in our previous client alert on the subject, the Flexibility Act amended the Small Business Act and the CARES Act to significantly modify the forgiveness and other provisions of the SBA’s Paycheck Protection Program (“PPP”).
Gunderson Dettmer client Postman, a collaboration platform for API development raised a $150 million Series C financing. The round was led by Insight and included CRV and Nexus Venture Partners.
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