Somatic mixes software and hardware, which is attractive to C2V. Its other investments in that vein include an interactive workout mat called Otari and Rens, a sneaker company that uses recycled materials.
The new investments by C2V and increased activity by other funds show that there are green shoots for tech startups, following a months-long quiet spell, Cunningham said. From March until June, C2V’s new deal flow shrank to almost nothing, down from an average of five to ten startups per day before the coronavirus outbreak, he said.
“There are consumer and workplace behavior shifts that will be long-lasting even after the pandemic is gone,” Cunningham said.
For many businesses, those changes represent an existential crisis, he said. “But there are some awesome startups coming through the ashes.”
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