Venture capital

DoorDash now valued at $7.1 billion

DoorDash CEO Tony Xu on Jimmy Kimmel Live
DoorDash CEO Tony Xu appears on Jimmy Kimmel Live. Photo: Randy Holmes/ABC via Getty Images.

On-demand food delivery company DoorDash has raised $400 million in new venture capital funding at a $7.1 billion post-money valuation.

Why it matters: DoorDash is in a battle for market share with rivals like GrubHub and Uber Eats, with some in the space believing that cash will be the ultimate kingmaker.

Insect breeding startup Ÿnsect raises $125 million

Ÿnsect, a French startup that breeds insects to become ingredients for pet food, fish food and plant fertilizers, raised $125 million in Series C funding.

The big picture: The company claims this deal will let it build the world's largest insect farm. It's also believed to be the largest-ever round for an agricultural technology startup outside of the U.S. The specific bet here in on mealworms, which Ÿnsect argues are more nutritious than the flies bred by its competitors. Astanor Ventures led, and was joined by Bpifrance, Talis Capital, Idinvest Partners, Finasucre and Compagnie du Bois Sauvage.

Go deeper: Eating insects could save the planet

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