Category: Fundings and Exits

Tencent backs Indian education startup BYJU’s at a valuation of $800 million

Tencent, Asia’s highest-valued tech company, has continued to invest in India after it backed online education service BYJU’s. The startup that includes the Chan Zuckerberg Initiative and Sequoia among its investors. The size of the investment has not been disclosed, but a source close to the deal told TechCrunch that it values BYJU’s around the $800…

Momenta raises $46M Series B for its self-driving car software

Beijing-based Momenta announced this morning that it raised a $46 million Series B round led by NIO Capital, Sequoia Capital China and Hillhouse Capital. Momenta produces self-driving car software that applies deep learning to mapping, path planning and object recognition problems. Shunwei Capital, Sinovation Ventures, Unity Ventures and Daimler also participated in the round. Quite a few…

SEC regulators are coming after ICOs

It looks like ICOs, shorthand for initial coin offerings, are about to undergo a lot more scrutiny. The SEC has concluded that the digital currencies will be regulated as securities, meaning unregistered offerings could be subject to criminal punishment. The decision was announced on Tuesday. To reach its findings, regulators evaluated the offerings facilitated by “The…

$47 billion has been invested into ridesharing startups — here are 10 other things that money could buy

When the ride-sharing industry emerged in 2007, few would have believed it would grow into the cash-eating behemoth it is today. Dozens of companies, in hundreds of markets, have garnered just over $47 billion in equity and debt investment, according to data pulled with Crunchbase and PitchBook. This massive figure doesn’t even include M&A or…

Sage Group buys Intacct accounting software for $850m

British enterprise software company Sage Group has agreed to purchase Intacct, a 19-year-old accounting software company, for $850 million, the companies announced today. A cash and stock transaction, the deal aims to help build out Sage’s cloud financial management offerings. Intacct, which competes with Financial Force and Oracle’s NetSuite, said in a related statement that it…

SF-based Grabr grabs $2.7M to scale its traveler-driven shopping community

Grabr, an SF-based platform with a convenient way for people to buy international goods, has secured a $2.7 million funding round led by SignalFire. FF Angel (Founders Fund’s early-stage investment vehicle), NFX, Global Founders Capital and multiple angel investors, including Diana Moldavsky and Charles Songhurst, also participated. Grabr plans to use the cash to scale…

B-Secur’s heartbeat biometric ID tech bags $4.5M

Northern Ireland based B-Secur has closed a £3.5m (~$4.5M) late stage seed investment for its biometric authentication technology that utilizes an individual’s unique heartbeat pattern, known as an electrocardiogram (ECG), to — in its words — “quickly and securely authenticate identity”. The investment is coming from a syndicate of UK and Ireland-based investors, including Accelerated Digital Ventures…