Last week was Reconstitution week for the Prime Unicorn Index, meaning companies meeting the eligibility requirements were added as components, while those who have lost their unicorn status were removed, according to the methodology. This quarter, we are excited to introduce two new components, Nova Labs and Cart.com. In addition, Temporal Technologies was removed.
Nova Labs (FKA: Helium Systems, Inc.) provides a platform that connects smart devices to the Web without Wi-Fi, Bluetooth, or Cellular; a complete Internet of Things platform for smart machines. This network, known as the Helium network, is a decentralized peer-to-peer network that operates on blockchain technology. It has a valuation of $1,011,641,986 and raised its most recent round on 12/20/2021 for $117.79M. Notable investors include A16Z, Ribbit, Multicoin, Khosla, Google Ventures, Union Square, and Alameda Research.
Cart.com is a provider of e-commerce-as-a-service intended to scale businesses online. The company’s service offer includes business planning, merchant financing, order fulfillment, and marketing services, enabling clients to take control of their online business and increase their revenue. It has a valuation of $1,178,268,752 and raised its most recent round on 3/14/2023 for $38.02M.
Temporal Technologies has lost its unicorn status and failed to meet the requirements to remain a component, as it slipped below $1B in Q4 2022.
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