Retail Waste Startup Raises $2M, 23andMe's DNA Goldmine Sells for $256M, and Why Smart Money Doesn't Mind a Little Turbulence

Happy Thursday.

Here are your angel deals of the week, some bookmarks I think you’ll enjoy, and the best nugget from my conversation with Ron Weissman, Chair of the Board of Directors at the Angel Capital Association. 

🔥 Angel Deals of the Week

🤝 Recent funding rounds from angel networks. I have not personally vetted these deals and am sharing for informational purposes only. Have one to announce? Reply to this email.

🤖 Deal summaries generated using dealmemo.ai.

🧾 Check out every deal we’ve tracked here.

MgShell | Eye disease treatment technology

Participating Group: Italian Angels for Biotech

MgShell is developing technologies for eye disease treatment, currently working toward preclinical validation. The Milan-based MedTech spin-off from Politecnico di Milano secured €1.14M from Capital Cell, Dr. Andrea Giani, and existing investors including Italian Angels for Biotech. Funds will support development acceleration, product refinement, business activities, and team expansion in an area with significant need for new therapies.

Marco Ferroni | €1.14M Investment Round | Milan, Italy | April 2025 | Source

UniteLabs | Lab automation platform

Participating Group: OMA Business Angels

UniteLabs is developing a lab automation platform that connects instruments across manufacturers, currently serving biotech researchers with 40 device connectors enabling cross-manufacturer communication. The Munich-based company recently secured €2.77M in pre-seed funding from NAP, PUSH, Acurio Ventures, OMA Business Angels, and LANA Ventures. Funds will be used to enhance the platform as they target the liquid handler market, a critical segment of lab automation used in applications from COVID-19 testing to DNA sequencing.

Robert Zechlin, Lukas Bromig, Julian Willand | €2.77M Pre-Seed | Munich, Germany | April 2025 | Source

BuyWander | Retail returns marketplace

Participating Group: Spokane Angel Alliance

BuyWander operates an online auction marketplace for retail returns, using AI technology to scan, sort, and identify returned merchandise for resale. The Spokane-based company serves over 10,000 registered users and reported $370,000 in March revenue while processing six semi-trucks of merchandise weekly. The company secured $2 million in seed funding led by Triple Impact Capital to expand operations with a 30,000-square-foot warehouse in Kent, Washington, targeting everyday consumers and small resale businesses in a market where returned goods often end up in landfills.

Jordan Allen & Brock Kowalchuk | $2M Seed | Spokane, WA | April 2025 | Source

🔖 Bookmarks

1. 💉 That Sweet Sweet Genetic Data: Regeneron is buying 23andMe’s bank of 15 million customers’ data for $256 million in a bankruptcy auction.

2. 📊 Secondaries are Not the Answer: Moses Sternstein explains why the math doesn’t math on secondaries as a solution for our liquidity woes.

3. 🏗️ Venture Studios for Dummies: I love a good list. Here are 6 steps to building a verticalized venture studio from Ben Yoskovitz.

In partnership with the Angel Capital Association

If you want to connect with experienced angel investors, stay ahead of trends, and tap into a wealth of resources, the Angel Capital Association (ACA) is the place to be. With 15,000+ members and $650M+ invested annually, ACA brings together the best minds in angel investing.

From Angel University’s practical education to the annual ACA Summit and exclusive reports, ACA equips members with the tools and connections to make smarter decisions. I’ve really enjoyed being part of this community, and I highly recommend it to anyone serious about angel investing.

Discover ACA membership

🥇 The Nugget: My Top Takeaway from This Week’s Conversation with Dr. Ron Weissman

Economic downturns = prime investment windows 📊

The best performing vintages often start during economic downturns, not boom times. Ron’s experience shows that portfolios built after market corrections consistently outperform those composed during peaks.

Takeaway: In the face of market volatility, resist the temptation to make emotional decisions. These bets have long (5-10+ year) holding periods and are somewhat insulated from day-to-day broader market conditions.

Want more? Check out my full conversation with Ron 👇

🎙️ Latest Episode

Listen now on Apple Podcasts, Spotify, YouTube, and more.

🧰 Toolkit

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📍 Attend: Cool stuff is happening in Indy - check out RALLY 2025, where 297 VC firms with $27.6B AUM gathered last year. Keynotes by Mr. Wonderful & Molly Bloom, plus a gigantic $5M pitch competition. Get early-bird tickets now, and sign up using code "THEDILIGENTOBSERVER" by 5/31 for an extra $35 off.

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Until Next Week 👋

Thanks for reading - have a great week.

-Andrew

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