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Early-stage steadfast Magnify Ventures has raised $46.6 cardinal for its 2nd fund from LPs including Melinda French Gates’ Pivotal Ventures.
Founded successful 2021 by Joanna Drake and Julie Wroblewski, Magnify invests successful companies that people the attraction economy, specified arsenic those gathering assistive robotics, household cybersecurity, and AI for location use.
The steadfast said Fund II volition put successful companies that physique AI tools for households, wellness and location systems, and fintech infrastructure for families.
The task steadfast past raised a $52 cardinal Fund I successful 2022 (Pivotal Ventures anchored that fund), and has backed child attraction startup Kinside and children’s disbursal absorption startup Till Financial (in which Pivotal Ventures was besides an investor).
Pivotal Ventures mostly acts arsenic a GP and LP, backing companies gathering successful the attraction economy. Its investments see caregiving startups Papa (in which Magnify Ventures was besides an investor) and Seen Health.
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