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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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dLocal shares up on first trading day

Shares of cross-border payment processor popped on the company’s first day of trading on the .

The Uruguay-based company’s shares opened at $21 and quickly gained traction, reaching as high as $33.50 per share. At the close of the trading day, shares were at $32.39, up 54.24 percent above the open price, with approximately 15.2 million shares changing hands, .

dLocal filed a with the at the beginning of May.

The company has raised a in known venture capital funding since its inception in 2016, according to Crunchbase data. dLocal reported working with more than 330 merchants and brought in $104 million in revenue in the past year.

Shares are trading on the Nasdaq Global Select Market under the ticker symbol DLO.

— Christine Hall

Rent the Runway said to prep for 2021 IPO

Fashion rental provider is interviewing bankers for a potential public offering as early as later this year, according to a Bloomberg citing unnamed sources.

Founded in 2009, New York-based Rent the Runway has raised at least $541 million in known funding to date, per Crunchbase data. The company focuses on two areas: outfits for special occasions and a subscription offering for everyday and work clothes.

The company saw demand slip amid the pandemic but is seeing a rebound in interest as the economy reopens. For now, talks about a potential IPO are in the early stages, per the report, and may not come to fruition.

— Joanna Glasner

Funding rounds

One Concern raises $45M for natural disaster mitigation: Silicon Valley-based , a startup that applies AI in developing tools to help prepare for and mitigate natural disaster risks, has raised $45 million from .

M&A

CDK Global buys Roadster for $360M: , provider of a platform for auto dealers to boost online sales and marketing, has Palo Alto-based ,  a provider of e-commerce tools for dealerships, in a $360 million deal. Founded in 2013, Roadster previously raised $27 million in known funding, per Crunchbase data.

— Joanna Glasner

Enterprise software

Alation lands $110M at $1.2B valuation: Redwood City, California-based raised a $110 million Series D round led by with participation from new investors and at a $1.2 billion valuation. Existing investors , , , 1, Ìý²¹²Ô»å also participated.

The new capital will be used to accelerate the company’s go-to-market strategy and finance new products.

The enterprise data intelligence company has now raised $217 million.

— Chris Metinko

Robotics

Realtime Robotics raises $31.4 Series A: Boston-based raised a $31.4 million Series A. The round included new strategic investors including and , as well as new institutional investors and . Existing investors SPARX Asset Management, , , and also participated in the round. The company helps enable industrial robots to operate autonomously.

— Chris Metinko

Health care

Zenflow raises $24M: Medical device company closed on $24 million in Series B funding to support the clinical trial of its Spring System, a minimally invasive treatment option for patients who suffer debilitating symptoms due to an enlarged prostate. led the round into the South San Francisco-based company. Zenflow also announced that it appointed as president.

Here’s what else we saw:

• Houston-based biotechnology company Stellanova Therapeutics said it raised a $15.5 million Series A round, led by , to advance its first-in-human clinical trials for oncology.
• Life sciences company announced $1.5 million in funding from a group of backers including . The Toronto-based company focuses on the psychedelic wellness and functional mushroom market.
• Data-driven life and health insurance underwriting company has secured a $10 million Series A investment led by.
• San Francisco-based , a software therapy deployment platform, announced $56 million in Series D funding, led by , to continue developing its tools to streamline the process of creating specialty pharmaceutical products.

— Christine Hall

Agriculture and foodtech

PlanetWatchers secures $3.5M: , a London-based crop monitoring company, said it closed on $3.5 million in Pre-A series funding co-led by and . PlanetWatchers uses machine learning and data to support crop insurers in reporting planting dates, acreage, crop classification and claims validation at scale.

Hooray Foods inks $2M: San Francisco plant-based meat company closed on $2 million in seed funding led by . The company creates products mimicking bacon, and the new funding will enable the company to scale production for national retail and grocery chains and develop improved versions of its products.

— Christine Hall

Space

LeoLabs closes in on $65M: , a provider of low Earth orbit mapping and Space Situational Awareness services, announced $65 million in Series B funding, jointly led by and , to give Menlo Park-based LeoLabs more than $100 million in total funding, according to the company.

— Christine Hall

Insurtech

Trellis Technologies raises $10M: Insurance technology platform a funding round of $10 million in Series A financing led by . The San Francisco-based company provides digital tools to enable consumers to get the most value from their car and home insurance.

— Christine Hall

Fintech and e-commerce

Intrinsic launches with $113M: Intrinsic is the newest e-commerce acquisition company to raise funding. The New York-based company , led by . Intrinsic is focused on health and wellness brands, acquiring them from and other e-commerce channels. E-commerce aggregators like have been attracting investor attention for a while now, but investments have heated up in 2021, with companies in this sector raising over $1 billion. In late May, Perch announced a $775 million round of Series A funding led by.

Here’s what else we saw:

• Vancouver-based , a bookkeeping service for small businesses, raised $60 million in Series C funding led by .
• Toronto-based retail technology company secured $6.2 million in Series A financing led by .
• Singapore-based stock market game development startup brought in $3 million in pre-Series A funding led by .

— Christine Hall

New funds

Rapyd creates venture arm: Fintech-as-a-service company said it created Rapyd Ventures, a venture arm that will invest in early- and growth-stage businesses focused on financial services innovation. Its first investment is in , a fractional shares trading platform that enables users in more than 150 countries to become investors.

Architect Capital launches $100M fund: launched with $100 million to provide an alternative form of financing to fintech, e-commerce and SaaS companies in the U.S. and Latin America that need flexible, nondilutive capital outside of venture capital and debt.

— Christine Hall

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