Private company news for Q2 2023

— Rubrik prepares for IPO. The cybersecurity company has hired three banks – Goldman Sachs, Barclays and Citigroup – to help with its initial public offering. Rubrik was valued at $4 billion in a major investment round two years ago, and the company could raise more than $750 million in an IPO.

— StoreDot's batteries have exceeded expectations. The company successfully completed the first phase of testing of its Extremely Fast Charging (XFC) EV batteries. The trials took place over six months with 15 leading car manufacturers from Europe, Asia and the United States. StoreDot has confirmed that next year it plans to start mass production of “100in5” cells, which will provide 100 miles of range in just five minutes of charging.

— Eat Just received its first-ever approval to sell cultured meat from U.S. regulators. USDA approval means that meat grown from cells is considered safe to eat and can be shipped nationwide. The lab-grown chicken will be available to taste in Washington, D.C., at restaurants by celebrity chef José Andrés

— Flexport has acquired Shopify Logistics. The company now offers order fulfillment for online stores, B2B distribution and last mile delivery – to a customer's door. The last mile delivery market is projected to exceed $357 billion by 2031. As a result of the deal, Flexport became Shopify Logistics' official partner and Shop Promise's preferred supplier, providing transparent delivery times, including two-day and next-day delivery. 

— Zipline raised $330 million in a Series F funding round valued the company at $4.2 billion, up 55% from its previous valuation of $2.7 billion two years ago. The company recently launched a new Platform 2 drone that can carry 8 pounds up to 10 miles. In May, Zipline made its 600,000th delivery. The company says it will reach one million autonomous deliveries by the end of the year.

— ThoughtSpot buys Mode. Business analysts will now be able to create apps and visualize data in Mode and then transfer it to ThoughtSpot's platform. The company believes Mode will bolster its generative AI applications, double its customer base and increase annual revenue to $150 million. 

— Chime and Bancorp extend their partnership for a long time Through this partnership, Chime will continue to focus on developing the innovative, user-friendly and FDIC-insured banking services used by millions of consumers in the United States