Startup News: 19th October 2020 - 25th October 2020


26th Oct'20

Happy Monday! Before starting the new week, let's grab the latest updates from the startup world. 


19th October, Monday



1. Atlassian launches $50M venture fund to propel the cloud-based startup ecosystem

Atlassian Corporation Plc, a leading provider of team collaboration and productivity software and the maker of Jira, Confluence, Bitbucket and Trello products, has announced the launch of Atlassian Ventures, a new US$50 million fund that will invest into the up-and-coming startups, including established companies. Read more, visit link.


2. Pimloc gets $1.8M for its AI-based visual search and redaction tool

U.K.-based Pimloc has closed a £1.4 million (~$1.8 million) seed funding round led by Amadeus Capital Partners. Existing investor Speedinvest and other unnamed shareholders also participated in the round. Read more, visit link.


20th October, Tuesday



1. Dublin's LearnUpon raises $56M for its online learning management system for enterprises

A startup LearnUpon, building e-learning solutions not for schools but corporates to use for development and training, has raised $56 million to meet growth in demand , which currently accounts for 70% of LearnUpon’s sales. LearnUpon already has some 1,000 customers globally. Read more, visit link.


2. Venn raises $26 million series A for its streaming TV network for games and culture

Venn, a streaming network for shows about gaming and culture. The company announced today that it has raised a $26 million series A, bringing its total raised to $43 million. Read more, visit link.


3. Vancouver biotech startup AbSci raises $65 million

AbSci, a Vancouver company with an innovative technology for biomanufacturing raised an additional $65 million to increase production and support its research. The company has a technique it calls “protein printing.” Read more, visit link.


21th October, Wednesday



1. MindLabs raises £1.4 million for its new platform, a "Peloton for mental health"

London based MindLabs, announced today it has raised £1.4 million (about USD $1.82 million) in pre-seed investment led by Passion Capital, with participation from SeedCamp, as well as several founders of British consumer tech startups. Read more, visit link.


2. Syte, an e-commerce visual search platform, gets $30 million Series C to expand in the U.S. and Asia

Tel Aviv-based visual search and product discovery platform Syte, announced today it has raised a $30 million Series C, with an additional $10 million in debt. Read more, visit link.


22th October, Thursday



1. Freelancer banking startup Lili raises $15M

The startup, founded by CEO Lilac Bar David and CTO Liran Zelkha, is creating a bank account and associated products designed for freelancers, with features like early access to direct deposit payments and the ability to set aside a percentage of income for taxes. Read more, visit link.


2. Chinese live tutoring app Yuanfudao is now worth $15.5 billion

Yuanfudao, a homework tutoring app founded in 2012, has raised $2.2 billion from investors, surpassing Byju’s as the most valuable edtech company in the world,worth $15.5 billion dollars. Explore more, visit link.


23th October, Friday



1. Dvara SmartGold to raise about $1 million in pre-Series A funding

Dvara SmartGold, a Mumbai-based start-up promoting micro savings.The company’s micro-savings product is in line with the Government's policy of "financialising" the gold sector. promoting micro savings. Read more, visit link.


2. Render raises $4.5M for its DevOps platform

Render, the winner of our Disrupt SF 2019 Startup Battlefield, today announced that it has added another $4.5 million onto its existing seed funding. Read more, visit link.


24th October, Saturday



1. Fintech Startup Signzy Raises $5.4 Mn to Enhance AI Research

The funding round was led by from Arkam Ventures and Mastercard along with participation from Kalaari Capital and Stellaris Venture Partners. Read more, visit link.


2. Was Quibi the good kind of startup failure?

Startup failure is easy to hold up as a type of martyrdom for progress, especially if the founders are starting out scrappy in the first place and trying to save the world. Read more, visit link.


25th October, Sunday



1. Local start-up wins global award for making milk without the need for cows or humans

Founded by Lin Fengru and Max Rye, TurtleTree Labs uses cell-based methods to make milk without the need for animals, while retaining the same composition and taste Read more, visit link.


2. Borderlands: DHL Express invests $53M in Mexico fleet; Transmute raises $2 million in seed funding - FreightWaves

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: DHL Express invests $53 million in Mexico fleet expansion; Transmute raises $2 million in seed funding. Read more, visit link.


We, at OpenGrowth, are constantly looking for latest news in the startup ecosystem. If you want to share any important news from last week, then do let us know in the comment section below.


News Curated by: Priya Nath

Priya is an enthusiastic person who believes in gender equity and social impact. She has a keen interest in startups. Her passion includes owning innovative gadgets, networking and psychology.

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect to us.