Tesla may be looking to go private, but Chinese rival Nio is going the other way after it filed to raise $1.8 billion in an IPO on the New York Stock Exchange. Nio was started in 2014, initially as NextCar, by Bin Li, an entrepreneur who founded online automotive services platform Bitauto. The company is backed by Chinese
A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car owners using a digital platform.
It’s almost unheard of to see three unicorns join forces to fund a startup, but that’s exactly what has happened in Indonesia. Ride-hailing company Go-Jek, e-commerce firm Tokopedia and travel booking startup Traveloka — each of which is valued in the billions of U.S. dollars — have come together to provide a Series A funding
VCs around the world are trying to wrap their head around crypto, and the new investment paradigm it brings. Some have made one-off deals but a few have jumped in off the deep end with dedicated crypto funds, with A16z in the U.S. the most prominent example. Now Singapore has its first from the traditional
Educators already don’t get paid enough, and those that work in preschools or daycares often make 48% less. Meanwhile, parents struggle to find great early education programs where kids receive enough attention and there’s space, but they don’t need special connections or to pass grueling admissions interviews to get in. Any time there’s a lousy
Back when Dennis Woodside joined Dropbox as its chief operating officer more than four years ago, the company was trying to justify the $10 billion valuation it had hit in its rapid rise as a Web 2.0 darling. Now, Dropbox is a public company with a nearly $14 billion valuation, and it once again showed
One of the early backers of Musical.ly, the short video app that was acquired for $1 billion, is making a major bet that internet radio is one of the next big trends in media. Goodwater Capital, one of a number of backers that won big when ByteDance acquired Musical.ly last year, has joined forces with
Hinge Health, the San Francisco-based startup that offers a tech-enabled platform to treat musculoskeletal (MSK) disorders — things like knee pain, shoulder pain, or back pain — has raised $26 million in Series B funding. Leading the round is Insight Venture Partners, with participation from the company’s Series A backer Atomico. In fact, I understand
Walmart sold its China-based e-commerce business in 2016, but the U.S. retail giant is very much involved in the Chinese internet market through a partnership with e-commerce firm JD.com. Alibaba’s most serious rival, JD scooped up Walmart’s Yihaodian business and offered its own online retail platform to help enable Walmart to products in China, both on
Jeffrey Katzenberg’s new mobile video startup NewTV, now headed by CEO Meg Whitman, has closed on a billion in new funding in round led by Meg Whitman and Jeffrey Katzenberg, the company has confirmed. WndrCo, Katzenberg’s tech and media holding company, officially announced the round’s close on Tuesday, following last month’s report from CNN which had first leaked
SenseTime may be best known as the world’s highest-valued AI company — having raised $620 million at a valuation of over $4.5 billion — but it is also an investor, too. The Chinese firm this week led a 1.36 billion RMB ($199 million) Series D funding round for Moviebook, a Beijing-based startup that develops technology to
Hansel, an India-based startup that enables more agile product development inside companies, has pulled in $4 million as it seeks to expand its business to the U.S.. The startup was founded in 2015 and it operates a real-time mobile app development platform that simplifies the process of product iteration inside companies. That’s to say that
WhoCanFixMyCar, the U.K. online car repair marketplace, has secured £4 million in new funding. Backing the startup is Shell Ventures — the corporate venture arm of Shell — in addition to chairman Sir Trevor Chinn (who previously chaired the boards ofAA, Kwik Fit and RAC), Active Partners, and Venrex Investment Management. Launched in 2011 by
Another acquisition for French carpooling platform BlaBlaCar: It’s picked up Russian Internet giant Mail.Ru’s relatively recent rival offering, BeepCar, in what’s being billed as both an acquisition and a partnership. BlaBlaCar says the move is aimed at consolidating its international growth. “Through this acquisition, we are doubling down our commitment to develop carpooling in Russia,
China is rising in many ways — the economy, consumer spending and technology — but still many of its population looks overseas, and particularly to the West, for cues on lifestyle and health. That’s a theme that’s being seized by LemonBox, a China-U.S. startup that lets Chinese consumers buy U.S. health products at affordable prices.
Teamleader, the SaaS platform that helps SMEs operate in a more digitally savvy way, has closed $22 million in Series C funding. The round was led by London-based Keen Venture Partners, with participation from PMV and existing investors Fortino Capital and Sage Capital. Claiming to serve nearly 10,000 customers in 6 countries — comprised mostly
Shedul, an online booking platform for salons and spas, has raised $5 million in funding. The round is led by Berlin’s Target Global, with participation from New York based FJ Labs. A number of individuals also invested personally, including Niklas Östberg (founder and CEO of Delivery Hero), and Hakan Koç (co-founder and co-CEO of Auto1
Grab, the ride-hailing service that struck a deal to take Uber out of Southeast Asia, has announced that it has pulled in $2 billion in new capital as it seeks to go beyond ride-hailing to offer more on-demand services. The $2 billion figure includes a $1 billion investment from Toyota which was announced in June,
ÆWhile we’re talking about companies like Apple getting alarmingly close to a $1 trillion market cap, both of Jack Dorsey’s companies — Twitter (at least before its earnings last week) and Square — have been on considerable runs, and it looks like the latter won’t be coming to a major halt after today’s quarterly report.
With its latest funding round, Formlabs has achieved unicorn status. The Massachusetts-based 3D printing startup just raised another $15 million. The latest round brings its total funding up to $100 million, and puts the company in the relatively rare air of hardware startups with valuations in excess of $1 billion. This latest funding, which follows
One of the fascinating things about watching an emerging startup ecosystem is that it isn’t just companies that are scaling, the very VC firms that feed them are growing themselves, too. That’s perhaps best embodied by Golden Gate Ventures, a Singapore-based firm founded by three Silicon Valley entrepreneurs in 2011 which is about to close a
Benjamin Joffe Contributor Benjamin Joffe is a partner at HAX. More posts by this contributor 70 years of VC innovation 2017 crowdfunding guide The dream of a startup founder can often be summarized by the following well-intentioned, and mostly delusional, quote: “We’ll raise a few rounds and in a few years we’ll IPO on Nasdaq.” But
Skyline AI founders Iri Amirav, Or Hiltch, Guy Zipori and Amir Leitersdorf A mere four months after coming out of stealth mode with $3 million in seed funding, real estate investment startup Skyline AI announced that it has raised an $18 million Series A. The round was led by Sequoia Capital, a returning investor, and
Civil, the blockchain-based journalism organization, is casting its eye to Asia after it set up a $1 million fund that’s aimed at seeding 100 new media projects across the continent over the next three years. The organization has teamed up with Splice, a Singapore-based media startup which will manage the fund, according to an announcement. There’s