The Picks and Shovels Newsletter
Picks and Shovels is Opal Venture's bi-weekly dispatch of market insights, founder resources, tech headlines, talent support, and more.
Dear Founders,
Over the past year, we’ve seen an unprecedented convergence of Silicon Valley innovation culture and federal regulatory oversight catalyzed by the DOGE initiative, with tech leaders rapidly entering government service across all agencies.
The FDA exemplifies this transformation, with Commissioner Martin Makary setting an aggressive timeline to deploy AI across all agency centers by June 30, 2025—enabling "first-pass" reviews of the nearly 500,000 pages in drug applications for "rapid or instant" approvals.
This push mirrors the startup ethos of moving fast and breaking things, but applied to public health regulation. There's an unmistakable startup vibe in the urgency to deploy these systems "ahead of schedule and under budget," driven by internal pressure to reinvigorate innovation at Silicon Valley speed.
Yet this creates uniquely governmental tradeoffs. While startups can iterate quickly and accept occasional failures, the FDA operates where moving too fast could mean compromised safety reviews.
The tension between innovation velocity and regulatory rigor raises a critical question: Can government agencies successfully adopt startup methodologies without abandoning their core mission of protecting public health?
Owen and Matt — the Opal Ventures Team
Market Trends
We’ve dug deep to provide some of the latest news in healthcare, tech, startup ecosystem, and more. Enjoy! (If you don’t have subscriptions to view, use this)
New FDA Chief Wants to Fast-Track Some Drugs, Use More AI - Commissioner Marty Makary faces declining staff morale as he remakes agency
Generic Drugmakers Resist Trump’s Calls for More U.S. Manufacturing - Companies say further domestic investment is too risky in such a low-margin and unpredictable business
Ohio attorney general approves Summa Health sale to General Catalyst - But Attorney General Dave Yost set 10 conditions to allow the deal to move forward, including increasing the purchase price by $15 million in cash and an additional $15 million in equity.
Helpful Resources
Dig into some of our favorite founder resources - from enlightening reads to videos, podcasts, and more - expertly mined to support you as you build from folks who have been there before.
First-principles thinking - Authored by Lenny Ratchisky
Building a Deep Tech Company? Most Startup Advice Doesn’t Apply — Read This Instead - Authored by First Round
Why seniority and credentials shouldn’t matter at your company - by Palmer Luckey
Need Help Hiring?
Bolstering your team is key to hitting major milestones and we want to help you on that journey. Feel free to fill out the Airtable link below and we will send out the job description to our curated network!
Notion Link - here
Opal Website Job Board - here (reach out if you want us to add anything specific 🙂)
Upcoming Accelerator & Funding Opportunities
Unearth a bounty of possibilities with our curated list of accelerator programs, grant opportunities, and pitch competitions.
America’s Seed Fund SBIR & STTR Grants [Rolling Basis] - America’s Seed Fund awards non-dilutive funding to develop your technology and chart a path toward commercialization
Military Influencer Conference [Opens Aug 15th] - This challenge provides a platform for trailblazers to transform their ideas into impactful opportunities, competing for a share of over $100,000 in cash, resources, and prizes to accelerate their ventures.
Recent Funding
Dive into the latest capital infusions fueling innovation across the startup ecosystem. From seed rounds to mega-deals, stay informed on who's attracting investor attention.
VoiceCare AI secures $4.54M to build an AI-powered healthcare administration platform that automates repetitive phone calls, navigates complex phone systems, and conducts real-time conversations to reduce administrative burden on healthcare staff
SuperDial secures $15M to develop healthcare communication automation tools that streamline outbound calls for insurance verification, claims follow-up, and provider data management between healthcare providers and payers
Rosarium Health secures $1.7M to create a marketplace platform connecting care providers with home contractors to deliver safety assessments and accessibility modifications for elderly clients aging in place
Infinity Bio secures $8M to build an antibody profiling platform that uses protein libraries and novel analysis systems to comprehensively map individual immune responses for accelerated medical research and discovery
Handspring secures $12M to provide digital mental healthcare services for children and young adults through video therapy sessions, skill-building exercises, and personalized care plans with parent education support
Opal Picks
Insights from the articles, books, and thought-provoking pieces that caught our eye this week (not just related to healthcare).
Honda Hops Reusable Booster Prototype - A 21-ft tall Honda-built rocket flew 890 feet in the air over Hokkaido, Japan, before descending to land safely—as part of the car company’s reusable rocket program
It’s Bulletproof, Fire-Resistant and Stronger Than Steel. It’s Superwood. - Waste wood scraps, changed at the molecular level, could become heavy-duty building materials—and even replace plastic, aluminum and carbon fiber in our vehicles and gadgets
One American’s Two-Year Quest to Move His Business Out of China - Trump’s first-term tariffs were a wake-up call for Ryan Bursky’s company. Now, he’s working with his Chinese suppliers to move everything to Cambodia.