funding | Pixr8 News

15Apr By AnkitaNo Comments

FUNDING

FarEye raises USD 25 mn funding, to accelerate growth in US, Europe

Logistics software company FarEye raises USD 25 million (around Rs 190 crore) in funding led by Microsoft's venture fund M12, with participation from Eight Roads Ventures and Honeywell Ventures. Existing investor SAIF Partners also participated in the series D round. The company, which has raised USD 40 million till date, did not disclose the valuation at which the latest funds were raised. "We will use the funds to further invest in enhancing predictive capabilities of our platform as well as accelerating growth in Europe, the US and the Asia Pacific," FarEye co-founder and CEO Kushal Nahata told Pixr8 News. Founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye's logistics platform enables enterprises to operate, track, and optimize their logistics operati...

13Apr By NitishNo Comments

FUNDING

Locale.ai Raises Pre-seed funding from Better Capital

Location analytics startup Locale.ai has raised a pre-seed round of funding led by early-stage venture firm Better Capital. The funding round also saw participation from notable angel investors such as Myntra's co-founder Raveen Sastry and Fusion Charts' co-founder Pallav Nadhani, Locale.ai said in a statement. The company will use the fresh capital to scale up its business and expand globally, primarily in the US. Locale.ai, operated by LocateAI Technologies Pvt. Ltd, was founded by Rishabh Jain and Aditi Sinha last year. The startup aims to help companies engaged in moving assets to get more sustainable demand using real-time location data and analytics. It is already working with mobility and delivery companies in the US, France, Argentina and India. Aditi Sinha, co-founder...

Amazon Largest Third Party Private Label Company Raises $100 Million

13Apr By NitishNo Comments

FUNDING

Amazon Largest Third Party Private Label Company Raises $100 Million

NEW YORK, April 12th, 2020-- The largest acquirer of Amazon third-party private label businesses Thrasio has secured over $100 million in fresh capital from existing investors which includes Peak6, Upper90, WTI, River Park Ventures, and others. The funding includes $75 million in Series B Preferred equity and $35 million in additional debt capacity bringing total capital raised to over a quarter billion dollars. The Series B values the company at over $700mm, a 32x increase in valuation in the last 12 months (since the March '19 Series Seed financing). In the last 18 months, the company's gross revenue has grown from zero to over $200,000,000. Thrasio has acquired over 40 businesses (and integrated them onto its proprietary operating platf...

8Apr By AdityaNo Comments

FUNDING

Airbnb Raises $1 Billion in Debt and Equity Funding

Airbnb announced that Silver Lake and Sixth Street Partners will invest $1 billion in Airbnb in a combination of debt and equity securities. The new funding will support Airbnb’s ongoing work to invest over the long term in its community of hosts who share their homes and experiences, as well as the work to serve all stakeholders in the Airbnb community. The desire to explore, connect, have new experiences and have a comfortable place to call home are universal and enduring. And our commitment to create a greater sense of belonging for everyone, everywhere will never change.Brian Chesky, Airbnb Co-Founder, CEO and Head of Community Started in 2008, Airbnb has rapidly grown into a trusted two-sided marketplace that generates real money for millions of regular people who share the...

7Apr By Press Trust of IndiaNo Comments

FUNDING

Lido raises over $7.5 Million in Funding led by Ant Financial

Education technology firm Lido Learning has raised over Rs 56 crore in funding led-by Ant Financial-backed BAce Capital to expand its offering to Indian students, the company said on Tuesday. "Lido Learning, an ed-tech startup focusing on live online tutorials, has just closed a USD 7.5 million (about Rs 56 crore) Series B round. The round is led by Ant Financial-backed Bace Capital, and completes the ed-tech startup’s overall funding at USD 10.5 million. Existing investors also participated in the round," the statement said. Lido is BAce Capital’s first ed-tech investment in India, as part of a strategy to continue investing in early stage companies in emerging economies, focusing on India and Southeast Asia. "Our vision is to build 250 million unique learning journeys for 250 m...

WeWork sues SoftBank for backing out of $3 billion Investment deal

7Apr By PriyankaNo Comments

BUSINESS

WeWork sues SoftBank for backing out of $3 billion Investment deal

Coworking organization WeWork sued Japan-based SoftBank after the technology investment group breached its contractual obligations by backing out of a USD 3 billion investment deal. The lawsuit filed in a US court in Delaware came just days after SoftBank said it was backing out of the plan to purchase WeWork shares to shore up the finances of the struggling sharing economy giant. WeWork's board of directors called the SoftBank action "a clear breach of its contractual obligations" under an agreement between the two firms last year as well as a breach of SoftBank's fiduciary obligations to the firm's current and former employees who were to sell their equity. The complaint alleges SoftBank yielded to pressure from "activist investors" and made the move after it had "received most...

6Apr By PriyankaNo Comments

FUNDING

Swiggy Raises USD 43 mn as part of ongoing funding round

Food ordering and delivery platform Swiggy has raised an additional amount of USD 43 million (over Rs 325 crore) as part of its ongoing Series-I funding round. The size of the round now stands at USD 156 million. In February 2020, Swiggy raised USD 113 million (over Rs 805 crore) in the funding round led by existing investor Prosus N.V. along with participation from Meituan Dianping and Wellington Management Company. Along with existing investor Tencent, new investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have participated in the latest fund raise, Swiggy said in a statement. "Swiggy has built a sustainable food delivery business over the years while solving various customer pain points. As we continue to strengthen and expand ...

5Apr By NitishNo Comments

FUNDING

Recko Raises USD 6 Million in Series A funding

Recko, a Bengaluru-based enterprise fintech startup that enables AI-powered reconciliation of digital transactions has raised USD six million in Series A funding. The investment was led by Vertex Ventures SEA and India, and saw participation from existing investor Prime Venture Partners. The fresh funding will be used for further product development, hiring and expanding its presence outside India, Recko said in a statement. Since it was founded in 2017, Recko has reconciled transactions worth USD five billion, it said. The startup has built a SaaS-based financial reconciliation product that, it said, keeps track of the complete transaction lifecycle and commercial contracts for organisations. Its customers include Grofers, Meesho, Dunzo and some of India's top marketplaces ac...

Mera Cashier Raises $150k from Bollywood Singer & Others

3Apr By PriyankaNo Comments

FUNDING

Mera Cashier Raises $150k from Bollywood Singer & Others

Sukhbir Singh, eminent Bollywood singer, India Accelerator, Boudhik Ventures, Shankar Nath (ex-CMO, PayTM) and Shaurya Garg (Founder, Fundoo Works) have invested $ 150K in FinTech startup Mera Cashier. Sukhbir says "Mera Cashier is giving the user the gift of time which is extremely scarce in these days. He adds using "Mera Cashier" is a good decision for any businessmen." Launched in July 2019, Mera Cashier is an app for small and micro businessmen to record and manage credit transactions. The app boasts of some unique features like managing both credits taken from suppliers and credit given in the market, using QR code to record transactions thereby improving the efficiency of the business and one app that the user and his customers can download and view the transactions involved...

Blue Planet raises US$25 million from Nomura

27Mar By PriyankaNo Comments

FUNDING

Blue Planet raises US$25 million from Nomura

Singapore and India - 25 March 2020 – Singapore headquartered Blue Planet has raised US$25 million from Nomura, Asia’s global investment bank. This strategic engagement by Nomura will help Blue Planet continue its efforts to develop integrated, inclusive and sustainable waste management solutions around the region. By the end of 2030, Asia is predicted to account for half of the world’s middle-class consumption. Waste generation rates are set to soar along with this increase in demand for resources. Solid waste, in particular plastic and organic waste, is becoming a key challenge for the rapidly developing nations in the region as they seek to fulfill their commitments to climate change and to reduce marine pollution. Blue Planet was founded with the vision to help avert th...

Tencent-backed Yuanfudao near to close new Fundraising at $7.5 billion Valuation

20Mar By reutersNo Comments

FUNDING

Tencent-backed Yuanfudao near to close new Fundraising at $7.5 billion Valuation

BEIJING, 20/03/2020 -- Chinese online education platform Yuanfudao, which is backed by tech giant Tencent Holdings, is close to completing a financing round that would value it at around $7.5 billion, two people familiar with the matter said. The talks make Yuanfudao, which was founded in 2012 and offers online courses and homework plans to students, a rare bright spot of activity in the deal-making world, which has largely dried up as the coronavirus pandemic has suspended most travel and business meetings. Yuanfudao’s focus on online learning puts it in one of the few sectors that have seen a surge in investor interest as the coronavirus and school closures force students in China to attend classes via the internet. The round of financing is led by Tencent Holdings and private ...

17Mar By AnkitaNo Comments

FUNDING

Fintech firm Fintso raises $2.6 mn in funding

Fintech startup Fintso raises USD 2.6 million from a set of individual angel investors including top officials of Mankind, Einfochips and Deutsche Bank. Fintso, a 3-month-old fintech startup, founded by Wealth Management industry veterans, George Mitra and Rajan Pathak, has raised USD 2.6 million from a set of individual Angel investors. Investors include Rajeev Juneja (CEO of Mankind Pharma), Pratul Shroff (Founder of Infochips) and Dilip Khandelwal (MD and Head of Technology, Asia Pacific, Deutsche Bank)," the company said in a statement. Fintso said it will use the capital to develop platform to help independent financial advisors and mutual fund distributors to nurture client relationships, enable seamless operations, and help them enhance productivity.