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Reliance Retail Raises $1.3 billion from PIF

5Nov By AdityaNo Comments

FUNDING

Reliance Retail Raises $1.3 billion from PIF

New Delhi, Nov 5, 2020: India's richest man Mukesh Ambani led Reliance Retail raises $1.3 billion (Rs 9,555 crore) from the Saudi Arab based Public Investment Fund (PIF). PIF will acquire a 2.04 percent stake in Reliance Retail. This is the second investment by the Saudi Arabian sovereign wealth fund in an Ambani firm. Earlier It had picked up a 2.32 percent stake in Jio Platforms for $1.5 billion (Rs 11,367 crore). The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of $62 billion (Rs 4.587 lakh crore). "This investment will further strengthen PIF's presence in India's dynamic economy and promising retail market segment," the statement said. "The transaction is in line with PIF's strategy as a leading global investor with a proven...

29Oct By AdityaNo Comments

FUNDING

Canvass Analytics Raises $6.5 Million Funding Led by Yamaha Motor Ventures

SILICON VALLEY, Calif., 29th Oct 2020-- Yamaha Motor Ventures, the strategic business development and investment arm of Yamaha Motor, led a USD$6.5 million funding round for Canvass Analytics (Canvass), a global leader in industrial Artificial Intelligence (AI) advanced analytics. The investment in Canvass analytics represents Yamaha Motor Ventures’ strategic focus on innovative technologies that work to solve global, societal challenges including increasing efficiency to reduce environmental impact. Canvass’s vision is to transform manufacturing by empowering the workforce of the future. According to IDC, operational data will increase by 2-3x by 2025, but the MAPI Foundation found that 47% of industrial workforces lacked the digital skills needed to derive value...

Hubilo Raises $4.5 Million From Lightspeed Ventures

28Oct By AdityaNo Comments

FUNDING

Hubilo Raises $4.5 Million From Lightspeed Ventures

SAN FRANCISCO, 28th Oct. 2020 -- Hubilo, a global virtual events platform raises $4.5 million in a seed round led by Lightspeed and backed by marquee tech angels. Starting its journey amidst the Covid crisis in April, Hubilo has grown over 32x organically and is projected to comfortably exceed $10 million in bookings run rate and host over 1 million attendees in the next few months. The $800 billion global events industry was one of the hardest hit by the Covid-19 but organizers are migrating online rapidly and also expanding their attendee base. For example, Apple’s WWDC attendance went from 6,000 developers in 2019 to several million online this year. Unlike many of its competitors that focus only on event management software, Hubilo is building a “system of record” for virtua...

Linktree Raises $10.7 Million Series A Led by Insight Partners and AirTree Ventures

26Oct By PriyankaNo Comments

FUNDING

Linktree Raises $10.7 Million Series A Led by Insight Partners and AirTree Ventures

LOS ANGELES, 26th Oct 2020-- Linktree, the trusted tech platform that connects audiences to a user’s entire online ecosystem, has raised $10.7 million in Series A funding, led by Insight Partners, an investor in Shopify, and AirTree Ventures, an early investor in Canva. The funding will accelerate Linktree’s expansion in international markets, including global team growth, and the evolution of Linktree’s product and functionality in new ways to deliver valuable user experiences. Linktree allows anyone from big brands to solopreneurs, celebrities to everyday content creators to build a microsite that houses their digital ecosystem, making it easier than ever to connect with their audiences wherever they are. In the same way Shopify and Stripe simplify the internet economy for eCommerc...

20Oct By PriyankaNo Comments

FUNDING

Bangladesh based ShopUp raises $22.5 Million in Funding

Dhaka, 20th Oct 2020: Bangladesh based digital store making platform ShopUp raises $22.5 million in a Series A round funding led by Sequoia Capital India and Flourish Ventures. VEON Ventures, Speedinvest, and Lonsdale Capital (Singapore) also participated in the round. The funding will use to extend its retail reach, as it deepens its partnerships with manufacturers and focuses on building tech-first infrastructure. ShopUp offers small businesses easy access to B2B sourcing, last-mile logistics, digital credit, and business management solutions. This helps these neighborhood mom-and-pop sellers achieve more profit with less effort, allowing them to focus their efforts towards engaging with their customers and business expansion. “COVID-19 has further underscored the need for d...

Unit21 Raises $13 Million from Google AI venture fund & Others

20Oct By AdityaNo Comments

FUNDING

Unit21 Raises $13 Million from Google AI venture fund & Others

SAN FRANCISCO, 20th Oct, 2020-- Unit21, a platform of no-code tools for risk and compliance teams, today announces $13 million in funding led by A.Capital Ventures. Additional participation includes investors such as Gradient Ventures (Google’s AI venture fund), Core VC, South Park Commons, Diane Greene (founder of VMWare), William Hockey (founder of Plaid), Chris Britt and Ryan King (founders of Chime), Sumit Agarwal (founder of Shape Security), and Michael Vaughan (former COO of Venmo). Unit21 will use the new capital to grow its product and distribution-focused management team, increase sales and marketing efforts, and launch in new industries. Risk and compliance are increasingly expensive departments within companies. In 2019, institutions were fined $8.14 billion in Anti-M...

Temporal Raises $18.75M Series A from Sequoia Capital & Others

16Oct By AnkitaNo Comments

FUNDING

Temporal Raises $18.75M Series A from Sequoia Capital & Others

SEATTLE, 16th Oct 2020: Maker of an open-source, stateful, microservices orchestration platform Temporal raises Series A funding of $18.75 million led by Sequoia Capital and was joined by Madrona Venture Group, along with existing investors Addition Ventures and Amplify Partners. After this funding round the total amount raised by Temporal is $25.5 million. The funds will be used to grow the existing open source community and develop a Temporal cloud offering. Users include Snap, Box, Coinbase, and Checkr who have realized increased developer productivity and application reliability after adopting Temporal. Temporal was founded by Maxim Fateev, CEO, and Samar Abbas, CTO, who created and led the open source Cadence project at Uber. The success of Cadence led to widespread interna...

Plenty Secures $140 Million from Softbank Vision Fund

15Oct By AdityaNo Comments

FUNDING

Plenty Secures $140 Million from Softbank Vision Fund

SOUTH SAN FRANCISCO, Calif., 15th Oct 2020-- Plenty Unlimited Inc. has secured a $140 million USD Series D round, led by existing investor Softbank Vision Fund 1 and including new investor Driscoll’s, the world’s leader in fresh berries. The investment will be used to fuel Plenty’s growth, including the execution of recently announced commercial collaborations with Albertsons and Driscoll’s, and the development of its new farm in Compton, California. To date, Plenty has raised over $500 million, making it the leader in sustainable, indoor vertical farming. “In just 30 years time, the world will need 70% more food than we currently produce, requiring more efficient use of land and water,” said Jeff Housenbold, Managing Partner at Softbank Investment Advisers. “Without innovation in a...

13Oct By NitishNo Comments

FUNDING

Razorpay Raises USD 100 mn in funding, Become Unicorn

Bengaluru, Oct 13, 2020: Payments solution provider Razorpay has gained the ''unicorn'' status after aises USD 100 million funding from GIC, Sequoia Capital and existing investors. Witnessing a 300 per cent growth in its business during the past six months, Razorpay said it has raised a Series-D fundraising of USD 100 million, giving the company more than USD 1 billion in valuation. This round was co-led by Singapore's sovereign wealth fund GIC and Sequoia India, along with participation from Ribbit Capital, Tiger Global, Y Combinator, and Matrix Partners. Razorpay plans to use the new funding to further strengthen and accelerate two new product lines RazorpayX, a neo-banking platform; and Razorpay Capital, its lending arm and invest in new initiatives to empower small and medium ...

6Oct By AdityaNo Comments

FUNDING

Skilljar Raises $33 Million Series B Funding Led by Insight Partners

SEATTLE, Oct 6th 2020-- Skilljar, the leading Customer Education Platform, raises $33 million in Series B funding led by Insight Partners with participation from existing investors Mayfield, Trilogy Equity Partners, and Shasta Ventures. Skilljar will use the new funding to expand its team, fuel go-to-market programs, and accelerate product development. As part of the financing, Jonathan Rosenbaum, Vice President at Insight Partners, will join Skilljar’s Board of Directors. Founded by Amazon veterans, Sandi Lin and Jason Stewart, Skilljar is an innovative training platform that enables businesses to onboard, engage, and retain customers at scale. Leading SaaS and technology providers such as Tableau, Zendesk, U-Haul, Verizon, Procore, Cisco, and hundreds more rely on Skilljar to powe...

The Logistics arm of Uber, Uber Freight Raises $500 Million

3Oct By AnkitaNo Comments

FUNDING

The Logistics arm of Uber, Uber Freight Raises $500 Million

SAN FRANCISCO & RYE, N.Y., Oct. 3rd, 2020-- Uber Technologies Inc. (NYSE: UBER) and New York-based investment firm Greenbriar Equity Group and one of the leading investors in the logistics space invested $500 million in a Series A preferred stock financing for Uber Freight. After this funding round the logistics arm of Uber, valuing the unit at $3.3 billion. Uber will maintain majority ownership in Uber Freight and will use the funds to continue to scale its logistics platform and accelerate product innovation to equip shippers with technology to power their supply chains. In connection with the investment, Michael Weiss and Jill Raker, Managing Partners of Greenbriar, will join the Uber Freight Board of Directors. With a combination of more than 40 years of investing experi...

Axis Security Raises $32 Million to Accelerate Growth

2Oct By PriyankaNo Comments

FUNDING

Axis Security Raises $32 Million to Accelerate Growth

SAN MATEO, Calif., Oct. 2, 2020-- Axis Security, the leader in Zero Trust Access raises $32 million in Series B funding led by Canaan Partners, with participation from existing investors Ten Eleven Ventures and Cyberstarts. Axis will use the funds to accelerate growth and meet market demand driven largely by COVID-19 and the work from anywhere (WFA) movement sweeping the globe. As part of the funding round, Canaan Partners' general partner Joydeep Bhattacharyya has joined Axis Security's board of directors. "Axis has quickly established itself with a differentiated, already proven approach to the decades-old problem of securing application access," said Bhattacharyya. "What has been most impressive to us is how the company has moved quickly and met the opportunity since coming out o...