Startup Monday: Latest tech trends and news happening in the global startup ecosystem!
Pony.ai, the Chinese autonomous vehicle startup and relative newcomer to the industry is now valued at $5.3 billion following a fresh injection of $267 million in funding. Read more
Chinese private rocket firm Galactic Energy successfully launched carrier rocket CERES-1 on Saturday, making it a second Chinese startup to complete an orbital launch. The rocket blasted off from the Jiuquan Satellite Launch Center in northwest China at 3:12 p.m. while sending Apocalypse-11 satellite into the planned orbit. Read more
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Rubica, a 4-year-old Seattle startup that aimed to help businesses and consumers stay safe online shut down last month after it was unable to reel in more investment and keep its business alive. The company had raised $15 million since launching in 2016 and was not yet profitable. It is in the process of liquidating its business assets. Read more
InRiver, a Swedish company allowing retailers and manufacturers to use augmented reality, video, and 3D imagery to sell their items online, raised $32 million, which co-founder and chief product officer Johan Bostrom said comes amid a period of high demand for the company, which operates its U.S. headquarters out of Chicago. He plans to use the funds to further grow the company’s North American customer base, which he said represents the startup’s largest growth market. Read more
The Healthcare Technology Report is pleased to announce The Top 25 Women Leaders in Biotechnology of 2020. These accomplished women have led to a wide range of initiatives supporting the development of treatments for complex diseases and other illnesses. In light of the current pandemic, some have also provided guidance, through their high-level roles, toward the research and development of treatments that will ultimately curb the spread of COVID-19. Read more
Hermeus, an Atlanta-based hypersonic jet company intent on making air travel five-times faster, has raised $16 million in Series A funding led by Canaan Partners. The funding will help Hermeus develop and test an engine that could power a Mach 5 aircraft, which can fly at more than 3,000 miles per hour. Read more
Govt recognized startups jump 57% under PM Modi’s pet scheme; tally nears 40,000. Startup India has witnessed a 57 percent growth in the number of government-recognized startups. From around 24,927 companies recognized as startups in November last year by the Department for Promotion of Industry and Internal Trade (DPIIT), the number has jumped to 39,114 startups as of November 3, 2020, according to the data from the Startup India portal. Read more
Spanish VC All Iron Ventures launches €66.5 million funds for European and American startups. All Iron Ventures has closed its first fund, All Iron Ventures I, totaling commitments worth €66.5 million, and setting a record as one of the largest debut VC funds in Spain. The capital committed by the founding partners of the All Iron Group and other investors brings AIV’s total investment capacity to around €110 million. Read more
The Algorand Foundation has launched a Europe-focused program aimed at funding and developing startups working atop its proof-of-stake blockchain. Read more
Despite fears that the pandemic would mean health investors focused on operative businesses rather than up-and-coming ones, Europe’s startups brought in $2.3bn in the third quarter of 2020, nearing the record $2.9bn invested in the same quarter last year. Read more
Skeleton Technologies, an Estonian cleantech company that is one of the largest European manufacturers of ultracapacitor-based energy storage, announced it has completed a €41.3 million financing round. Read more
Narine Emdjian is a funding specialist who helps startups and tech nonprofits to diversify their fundraising strategy through private and federal grants. She is the Host of the HyeTech Podcast that features successful and inspiring founders and entrepreneurs around the globe. She holds Masters Degrees in Strategic Marketing and Political Science.