🚴 You're amazing: On Saturday, 660 Axios Pro Rata readers got on their Peloton bikes at the same time to raise an astounding $117,000 for the Food Bank of New York City. More info at the end of the newsletter.
Illustration: Eniola Odetunde/Axios
Some Instacart workers plan to go on strike today, arguing that the grocery delivery unicorn's recent increases in pay and safety equipment are insufficient.
What's happening: It's unclear how many drivers plan to strike today, as the organizer intentionally doesn't keep lists (because contractors don't have legal protections from "employer" retaliation) and past gig economy strikes have been more successful on noise than numbers.
Strike organizers last week asked for three things:
Instacart has since announced that it has:
Between the lines: Both sides sincerely believe they are doing the right thing in the midst of a quickly-evolving natural disaster.
The bottom line: Instacart has suddenly become America’s most vital gig economy company, after years of sitting in the shadows of fellow gig economy "unicorns" like Uber and DoorDash. And with greater profile comes greater pressure.
Illustration: Sarah Grillo/Axios
OneWeb, a London-based developer of low-orbit satellite constellations for internet connectivity, filed for Chapter 11 bankruptcy on Friday. It had raised over $4.5 billion from such bankers as SoftBank.
Today's project is to ask your kid(s) to create their own Henri Matisse-inspired collage. You'll need some paper (colored construction or white with markers) and then ask them to watch this 5-minute YouTube video.
Last Friday I asked your kid(s) to make their school classrooms out of stuff around the house. Either Hannah has a slide in her classroom, which makes it the best-ever classroom, or she's being aspirational:
🚑 ElevateBio, a Cambridge, Mass.-based cell and gene therapy startup, raised $170 million in Series B funding. The Invus Group, Surveyor Capital, EDBI, and Vertex Ventures were joined by return backers F2 Ventures, MPM Capital, EcoR1 Capital, Redmile Group, and Samsara BioCapital. http://axios.link/pOeu
• Preply, an online tutoring platform, raised $10 million. Hoxton Ventures led, and was joined by Point Nine Capital, All Iron Ventures, The Family, EduCapital, and Diligent Capital. www.preply.com
🚑 Air Doctor, and Israeli doctor search platform for travelers, raised $7.8 million in Series A funding co-led by Kamet Ventures and The Phoenix Insurance Co. www.air-dr.com
• Nohbo, a Melbourne, Fla.-based developer of dissolvable drops containing shampoos and other personal care products, raised $3 million in seed funding. Material Impact led, and was joined by Safer Made and Radical Investments. www.nohbodrops.com
• Code Institute, an Ireland-based online coding school, raised €1.2 million co-led by Kernel Capital and Infinity Capital. http://axios.link/SmwY
🚑 Hualan Biological Vaccines, a vaccines unit of listed Chinese drug company Hualan Bio, is raising around $292 million from Hillhouse Capital and Liu Xiaodan, per DealStreetAsia. http://axios.link/muDj
• Plenty, a South San Francisco-based vertical farming company, is in talks to raise at least $100 million in Series D funding led by existing backer SoftBank Vision Fund, per Bloomberg. The round is expected to value the company at or below the $1 billion mark it received in its prior round. http://axios.link/ybjJ
• Tiger Global Management has acquired an undisclosed stake in ByteDance, the Chinese maker of TikTok whose other backers include SoftBank and Sequoia Capital China. http://axios.link/B4MQ
• Apollo Global Management reportedly ended its efforts to buy local television broadcaster Tegna (NYSE: TGNA), due to "market dislocation" caused by the coronavirus pandemic. This follows an earlier withdrawal by rival Gray Television (NYSE: GTN), and leaves offers from Byron Allen and Najafi Cos/Trinity Broadcasting Network. http://axios.link/KNws
🚑 BGH Capital terminated its agreement to buy Australian dental care chain Abano Healthcare, due to a “material adverse change” related to the coronavirus. http://axios.link/4s5m
• Calera Capital acquired Thayer Power & Communication, a Pataskala, Ohio-based provider of repair, maintenance, and upgrade services for the utility and telecom industries. www.thayerpc.com
• Palm Beach Capital invested in Allen Brothers, a Philadelphia-based wholesale distributor to the convenience and grocery store market. www.abdelivers.com
• WiMi Hologram Cloud, a Chinese augmented reality platform, is the only company planning to price a U.S. IPO this week. It expects to raise around $33 million and list on the Nasdaq (WIMI). http://axios.link/oPUm
🚑 Ares Management is seeking a buyer for Unified Women's Healthcare, a Boca Raton, Fla.-based provider of OB/GYN practice management services, per PE Hub. http://axios.link/W82P
• Microsoft (Nasdaq: MSFT) is paying a reported $1.35 billion to buy Affirmed Networks, an Acton, Mass.-based 5G software company that had raised nearly $240 million in VC funding (most recently at an $888 million valuation). Affirmed backers include Bessemer Venture Partners, Centerview Technology Capital, CRV, Matrix Partners, Qualcomm Ventures, MicroVentures, and DTCP. http://axios.link/hMWT
• Banco de Sabadell (Madrid) SABE) agreed to sell its depository unit to BNP Paribas (Paris: BNPP) for €115 million. http://axios.link/9GoE
• Marubeni (Tokyo: 8002) completed its $1.14 billion acquisition of Stamford, Conn.-based aircraft lessor Aircastle. http://axios.link/3Q3O
• Tata Motors said it plans to spin off its cars business, including Jaguar, from its trucks business. http://axios.link/R3Nj
• APA Venture Partners has launched as a pre-seed and seed-stage firm, co-led by veteran startup CFO Paul Kinrich (One Medical, Reputation.com, Extend Health) and Alex Kaufman (ex-JetBlue Technology Ventures). www.apavp.com
• Greyrock Capital Group, a mezzanine debt and equity firm, is raising up to $300 million for its fifth fund, per an SEC filing. www.greyrockcapitalgroup.com
On Saturday morning, 660 Axios Pro Rata readers got on their Peloton bikes at the same time to raise an astounding $117,000 to benefit the Food Bank for New York City.
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