The median valuation for early-stage U.S. startups that raised money from nontraditional investors has risen from $55.5M in 2021 to $75M this year, according to a report by Pitchbook. The median valuation for early-stage U.S. startups that didn't raise money from nontraditional investors was up from $35M in 2021 to $43M this year.

More:

• Pitchbook notes that nontraditional investors, such as hedge funds, have more capital to deploy than VCs; thus, they're more likely to lead rounds and increase valuations.
• Since nontraditional investors are larger than most venture firms, they're less affected by deterioration in market conditions.
• Pitchbook notes that larger deal sizes for early-stage startups have also led to greater participation from nontraditional investors.
• The report is available here.

Life Extension Ventures announced the launch of a $100M fund for startups focusing on the "longevity of people and planet." The fund's areas of focus include human or animal longevity, food, energy, agriculture, energy, AI, direct-to-consumer, and infrastructure-as-a-service, among other areas. 

More:

• The venture fund is led by Dr. Iñaki Berenguer, who previously founded Pixable and CoverWallet, and Dr. Amol Sarva, who previously worked on flexible office startup Knotel.
• "There was a clean tech 1.0, a clean tech 2.0, and something similar is happening in the biotech universe now. Software has now come to intersect with science in a new and different way, and it makes the opportunity more like tech,” Sarva told TechCrunch.
• Berenguer and Sarva have previously angel invested in genomic discovery startup Galatea Bio, computer vision for cell morphology company DeepCell, and API for healthcare Particle Health.

Hyzon Motors, a company that works on hydrogen-powered electric vehicles, has removed CEO Craig Knight over financial reporting irregularities pertaining to its operations in China. According to short-seller Blue Orca, Hyzon reported the sale of 500 vehicles to Shanghai HongYun, an allegedly fake company.

More:

• The truck manufacturer had previously denied Blue Orca's report.
• Hyzon stated it would be too expensive to accelerate an internal investigation to fulfill Nasdaq's deadline for late quarterly reports.
• The vehicle maker plans to begin an internal and external search for a CEO. Craig Knight has been replaced in the interim with Parker Meeks, who recently served as CSO of the company.
• Hyzon's board demoted George Gu from executive chairman to non-executive chairman, advising Meeks on strategic R&D.

Ejara raised $2M led by CoinShares Ventures and Anthemis Group. The early-stage company also hosts Web3-based educational courses and events to increase awareness. 

More: 

• Nelly Chatue-Diop, founder of Ejara, believes cryptocurrency is reserved for the wealthy and wants to bridge the gap by launching the Ejara platform. 
• Crypto adoption in Africa varies by region, and the CFA franc, Francophone Africa region has very little exposure. 
  • "We want to give people alternatives and democratize access to investing and savings." 
• Ejara allows users to buy and sell crypto such as bitcoin and ethereum, along with stocks. 
• The company aims to lower the barrier of entry and increase access to crypto in the Chatue-Diop region. 

Flossy, a startup that helps consumers access discounted dental care, raised $14.7M at an undisclosed valuation. Flossy negotiates with dentists in its dental network to offer discounted rates. The company claims it can help consumers save up to 50%.

More:

• Flossy has raised $17.8M since its inception in 2020, according to Crunchbase.
• 76 million Americans lack dental insurance, and 35% say high costs have forced them to postpone or cancel treatment.
• 47% of elderly Americans say they haven't visited a dentist in the past year due to a lack of coverage.
• Out-of-pocket dental costs for Americans rose to $53B in 2020

Fair.xyz raised a $4.5M seed round from Eden Block NFX, First Minute Capital, and OpenSea. 

More: 

• The startup made headlines at the NFT.NYC conference when they used a Snoop Dogg look-alike to highlight fraud and deception in the NFT space. 
• The startup's mission is to remove imposters, bots, and fraud from the NFT industry by building an end-to-end, code-free Web3 platform. 
• Creators and NFT collectors can mint their collections on the platform with its proprietary Web3 technology. 

Quick Hits:

• Over 12 million balls trust MANSCAPED™ precision tools for their family jewels. Click here to activate 20% off + free shipping sitewide.*
• Microtraction secures $15M for its pre-seed fund for African startups.
• Digital currency lender Genesis' CEO Michael Moro stepped down and is being replaced in the interim by COO Derar Islim.
• "When it came time to raise a Series A round of funding a year ago, having a product that addresses real-world daily challenges made the value proposition clear," Matt Hocking said about WellSaid Labs in a column about lessons for Australians launching startups in the U.S.
• Trying to deliver on big expectations with a small team or budget? Use this worksheet to learn how you can do more with less.*

*This is sponsored content.

Upcoming events at Inside:

• August 24 - AMA with Matt Mahar (CEO at Cana) (Register Here)
• August 31 - AMA with Sophia Amoruso (CEO at Business Class) (Register Here)
• September 07 - AMA with Andrew Gazdecki (Founder of MicroAcquire) (Register Here)
• September 09 - AMA with Jay Ryan (U.S. Federal Government Program Manager at Security Compass) (Register Here)
• September 14 - AMA with Brian Dean (Founder of Backlinko) (Register Here)
• September 21 - AMA with Kristen Ruby (Founder of Ruby Media Group) (Register Here)
• September 28 - AMA with Leigh-Ann Buchanan (Founder of aīre ventures) (Register Here)
• October 12 - AMA with Bill Glenn (Executive Chairman at Crenshaw Associates) (Register Here)
• October 25 - Meet Our Fund 4, an Inside.com Summit (Register Here)