Here’s this week of latest startup stories across the globe [30 July – 03 Aug]
Tesla’s Chinese rival Xpeng Motors has pocketed USD 587 Mn in investment in a round led by Primavera Capital Group.
Huawei has surpassed Apple in worldwide smartphone shipments. The Chinese tech giant secured a record-high 15.8 percent global market share in Q2 2018, snatching second place from US rival Apple. Samsung retains the top spot.
Tencent saw its stock price fall 25 percent from its January peak, wiping out USD 143 Bn in shareholder value due to concerns over slowing growth in its mobile gaming unit.
India’s Freshworks has racked up USD 100 Mn funding. The round was led by Accel Partners and Sequoia Capital, with participation from Google’s CapitalG, bringing its total funding to USD 250 Mn.
Shuttl has banked USD 11 Mn in Amazon-led round. The Gurugram-based startup said it will use the funds to expand to two new cities by the end of 2019.
Google has injected an extra USD 350 Mn to build a third data center in the Southeast Asian city-state to meet growing demand for its cloud computing services in Singapore.
Singapore’s Golden Gate Ventures, the backer of Carousell, Carro, and 99.co has launched a new USD 100 Mn fund. Investors joining in the fund include Naver and Mistletoe, run by the brother of SoftBank CEO Masayoshi Son.
The European Innovation Council (EIC) is organizing EIC Innovators’ Summit in Berlin this September. It will host more than 600 top SMEs, researchers and innovators.
Belgian startup Teamleader, a CRM, project management and invoicing platform raised USD 22 Mn in the Series C funding round led by London-based Keen Venture Partner. We hope you lead your team to greater success.
Spanish bank WiZink acquired Madrid-based fintech startup Aplazame. The latter will continue to run as an independent company.
FloodFlash, a London-based insurtech startup raised USD 2.2 Mn in its seed round led by LocalGlobe and Pentech Ventures.
New York-based Rentlogic, a property grading platform aiming to standardize the real estate market, has raised USD 2.4 Mn from Urban X. It grades buildings on around 150 different variables, and charges landlords for displaying a rating outside their properties.
Cisco, a multinational technology conglomerate is acquiring Duo Security, MI-based security firm for USD 2.35 Bn in cash. Cisco has acquisitions include OpenDNS, Sourcefire and Cloudlock.
Rent the Runway, an apparel renting platform headquartered in New York, raised a debt of USD 200 M from Singaporean Investment Company Temasek.
Radar Relay, a US based cryptocurrency exchange platform has landed USD 10 M from Blockchain Capital. The startup is backed by Tusk Ventures and Distributed Global among others, offering alternatives to the centralized currency exchange.