Happy Monday! Here are the latest weekly startup stories for you. Explore what's trending in startup world.
4th January, Monday
1. Google and Snap in talks to invest in India’s ShareChat
The Bangalore-based startup ShareChat, an Indian social network that engage Twitter as an investor in 2019 may soon receive the backing of two more American firms. ET Now reported last year that Google was in talks to acquire ShareChat. It has raised about $264 million till now and was valued at nearly $700 million past year. Read more.
2. Color raises $167 million funding at $1.5 billion valuation to expand healthcare infrastructure
Color, Healthcare startup has raised a sizable $167 million in Series D funding round. Company already begun to work ona way to mitigate evident challenges already faced by vaccine distribution and delivery in its initial rollout. To build out a “last mile” delivery system for crucial care that expands accessibility. Read more.
5th January, Tuesday
1. Divvy raises $165M as the spend management space stays red-hot
A Utah-based corporate spend management startup Divvy, has closed a $165 million round at a $1.6 billion. Broadly engage into corporate cards and software that helps firms manage and limit expenses - is incredibly active today as businesses look to modernize their financial infrastructure. Read more.
2. Kyte raises $9 million to deliver rental cars to your doorstep
Kyte, has raised $9 million in funding from DN Capital and Amplo VC. The funds are already being put to work to help drive Kyte’s expansion into markets, Company built a fleet-logistics platform that lets consumers rent vehicles through their app or website. Read more.
6th January, Wednesday
1. Veo raises $25M for AI-based cameras that record and analyze team sports
A Copenhagen based startup Veo Technologies, has designed a video camera and cloud-based subscription service to record and access the highlights of games. Later, customers allows to share that video content. Funds will be used for expanding the company’s business. Read more.
2. Plant-centered prepared food delivery startup Thistle raises $10.3 million
Thistle, prepared food delivery startup raised $10.3 million, the company delivers plant-based full menus (with meat options availability) for its customers, along with a range of juices and sides. And all meals are gluten and dairy-free and goal to further support our customers in their wellness journey. Read more.
7th January, Thursday
1. Hipcamp Raises $57 Million for Campsite Bookings as Outdoor Travel Trend Booms
Hipcamp, a startup has raised $57 million of investment in a Series C funding round. The San Francisco company’s marketplace encourages ranchers, farmers, and other private landowners to enter the camping and outdoors sector as a refreshing activity. Read more.
2. Glia raises $78 million to digitize customer service interactiveness
Glia, a New York-based customer service startup raised $78 million. The funds will be used to expand departments across its organization, with a focus on product development and strategic acquisitions. Company matches customers with support staff by pairing video with messaging and voice, its chatbot framework, AI Management Platform, is a key differentiator. .
8th January, Friday
1. Coinbase acquires crypto trade execution startup Routefire
San Francisco-based Routefire acquired by Coinbase at undisclosed amount. it will cease its services and join Coinbase to continue developing execution services for digital assets. At Coinbase, Routefire will expand the exchange's prime brokerage business. Read more.
2. New ‘smart’ cycling shorts use electric current to enhance muscle performance
Inpulse, British start-up to launch new shorts, smart’ cycling shorts that use electrical sensors and artificial intelligence to improve muscle function. Sensors in the shorts monitor muscle activity, sending information to an AI tool within the shorts that calculates which muscles need stimulating. This smart cycling shorts will be launch by the month of April this year. Read more.
3. Trash-Sorting AMP Robotics Closes $55 Billion in Series B Funding
Colorado-based startup AMP Robotics, uses AI technologies to sort out trash, raised $55 billion round of Series B funding. The funding will help the company grow internationally and improve its "vision system", which uses a blend of artificial intelligence and robotics to sort through everything from used up cells to carton. Read more.
4. F5 acquiring Volterra multi-cloud management startup for $500M
Volterra, a multi-cloud management startup, acquired by Applications networking company F5 for $500 million. The solution is designed to provide a single way to view security, operations and management components. Platform will build a SaaS solution that cater customers’ biggest pain points, as quoted by the officials. Read more.
9th January, Saturday
1. This Startup Plans to Build a Space Hotel and Replace the International Space Station
Houston based Axiom Space. company was founded by NASA’s former ISS manager Michael Suffredini. Its plan is to build a commercial space station on its own, with the first module to launch as soon as 2024. And after 2028, It will be able to support scientific research space hotel for deep-pocketed explorers who want to take a vacation from 250 miles above Earth. Read more.
2. Nio’s first sedan to rival Tesla in China looks like
Chinese electric car start-up Nio revealed its et7 sedan pre-subsidy starting price of 448,000 yuan ($69,000). The electric car can work with Nio’s new self driving system that features technology that founder William Li claims surpasses that of Tesla. Read more.
10th January, Sunday
1. StackRox Acquisition By Red Hat Underscores The Significance Of DevSecOps
California-based Kubernetes security company StackRox, acquisition by Red Hat , announced past week. Red Hat’s current portfolio by bringing critical security capabilities missing from its infrastructure and platform offerings. Acquisition all round focused on increasing the enterprise infrastructure market share. Read more.
2. Nike Invests $500K in Black Women through Black Girl Ventures
The company plans to donate a series of grants totaling $1.75 million. Nike’s focus on economic advancement through entrepreneurship can be a game changer for Black and Brown communities. Nike is on a mission to help more black Americans. These funds will go to organizations supporting Black communities in major cities across the U.S., including Chicago, Los Angeles, and New York City. Read more.
If you missed out the previous week or entire month updates of startup world news, follow the link to read it now and stay updated with every passing update with us.
Startup News: 28th December 2020 - 3rd January 2021
Startup News: 21st December 2020 - 27th December 2020
Startup News: 14th December 2020 - 20th December 2020
Startup News: 7th December 2020 - 13th December 2020
Startup News: 30th November 2020 - 6th December 2020
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.
