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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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SES raises $139M for EV battery development

Singapore-based SES announced Monday that it raised a $139 million Series D. Auto giant led the round for SES, which develops Li-metal batteries for electric vehicles. The funding comes as EVs have been more in the spotlight. Besides EV investment announcements from automakers, President Joe Biden’s infrastructure bill allocates $174 billion toward the sector’s infrastructure.

–Sophia Kunthara

Clubhouse raises round at $4B valuation

, the fast-growing audio-based social network for group gatherings, that it closed a Series C funding round, just three months after closing its Series B.

led the financing, with participation from major investors , 听补苍诲 . Clubhouse did not disclose the size of the round, which reportedly set a valuation of $4 billion for the San Francisco-based company.

— Joanna Glasner

Zilch picks up $80M for buy now, pay later

U.K.-based , a buy now, pay later app for online consumers, in a Series B round at a valuation of more than $500 million.

Backers in the round include and M&F Fund. The financing brings total funding to date for the 3-year-old company to around $120 million, per Crunchbase data.

— Joanna Glasner

Oatly reveals $60M loss in F-1

Two months after for an initial public offering, Sweden-based filed a F-1 Monday with the .

Founded in 1990, the company, filing as Oatly Group AB, touts itself as 鈥渢he world鈥檚 original and largest oatmilk company,鈥� making a list of products, including milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks. In addition, it was 鈥渓eading the transformation of the global dairy market, worth approximately $600 billion in the retail channel alone as of 2020.鈥�

Oatly revealed an , as well as a $60.3 million loss on $421.3 million revenue in 2020, compared with $35.6 million on $204 million in revenue for 2019.

To date, the company in known venture-backed funding, according to Crunchbase data. It鈥檚 most recent raise was , led by last July.

Oatly plans to list on Nasdaq Global Select Market under the symbol OTLY.

— Christine Hall

Funding rounds

InsureQ lands $6M: Munich-based insuretech startup raised $6 million in a seed round led by . Founded in 2019, the company offers insurance tailored for freelancers, startups and small business owners.

— Joanna Glasner

Phenix Raises $16.7M: Real-time streaming tech platform raised a $16.7 million Series B, bringing its valuation to about $90 million. led the round with participation from 1 and Manheim Investments. Phenix delivers streams with less than half a second of latency at broadcast scale, according to the company, and last raised a $7.6 million Series A in March 2020.

–Sophia Kunthara

Health care

Virta Health raises $133M: , a type 2 diabetes reversal company, raised $133 million of equity financing, led by, that values the San Francisco-based company at $2 billion. The funding will be used to drive widespread adoption of its telehealth-powered diabetes reversal treatment. Virta helps people reverse their chronic disease while removing the need for costly medications, including insulin.

— Christine Hall

Agriculture

ReelData A.I. inks $2.5M: , a Canada-based company providing artificially intelligent monitoring for finned fish aquaculture, closed a CA$2.5 million seed investment led by . It鈥檚 technology reads the real-time feed spill in each tank and adjusts feeding systems.

— Christine Hall

Fintech

Knox Financial banks $10M: , a fintech company building a platform for overseeing and optimizing investment properties, raised $10 million in Series A funding led by .

Bespoke Financial banks $8M: Los Angeles-based fintech , providing debt financing to cannabis companies, announced a $8 million Series A to bring the company’s total funding to date to over $28 million, the company said. The raise was co-led by and . Founded in 2018, the company provides debt financing tools to cannabis companies across the supply chain in over 80 percent of the U.S. market. Crunchbase data shows 2021 investment in the cannabis space is rebounding a bit after last year鈥檚 lull. Some $357 million has gone into 29 companies so far, led by a $200 million Series C round last month for, which outfits dispensaries with the technology and tools needed to provide safe and easy access to cannabis.

— Christine Hall

M&A

Jushi to acquire Nature鈥檚 Remedy: , a Boca Raton, Florida-based multi-state cannabis operator, said it agreed to acquire in a cash-and-stock transaction valued at $110 million. Nature鈥檚 Remedy currently operates two retail dispensaries in Massachusetts.

— Christine Hall

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