Crunchbase Daily: Zuoyebang, Zhihu, Framebridge, Seeq, and Reali
Crunchbase Daily: Zuoyebang, Zhihu, Framebridge, Seeq, Reali, Glovo, Light, Centivo, Openpath Security, and Peerspace
Big Five tech firms valued over $4T
The collective market value of the five biggest U.S. technology companies just surpassed $4 trillion. Whether they will maintain or surpass that mark will depend heavily on their latest earnings, which start to trickle out this week.
Insight Venture Partners closes $6.3B Fund
Another day, another really, really big tech fund closing. This time it’s software growth investor Insight Venture Partners, which just raised $6.3 billion for its tenth fund. This latest fund dwarfs its Fund IX, which closed in 2015 with $3.3 billion.
Chinese ed-tech platform raises $350M
Baidu-owned education startup Zuoyebang just raised a $350 million Series D led by Coatue Management. Participating investors include Goldman Sachs, Sequoia Capital China, and New Enterprise Associates, among others.
Light snaps up $121M Series D
Light, a developer of advanced imaging technology for digital photography, raised $121 million in a Series D round led by SoftBank.
Incubator aims to mint more German unicorns
While Germany’s economic prowess is indisputable, the country assumes a much more modest reputation in the tech startup scene. A government-backed incubator is working to turn that around, helping startups network their way to global expansion.
Greycroft closes $250M fund
New York-based VC Greycroft has raised $250 million for its latest early-stage fund, which will invest in seed through Series A rounds for promising technology startups.
Pintec files for IPO
Two-year-old fintech startup Pintec has filed for a U.S. IPO, hoping to raise $70 million.The Beijing-based company provides online financial services including loans, wealth management, and insurance.
Rubius raises $241M in upsized IPO
Rubius Therapeutics, a Cambridge, Mass.-based developer of drugs based on genetically-engineered red blood cells, has raised $241 million in an upsized IPO that reportedly sets an initial market valuation for the company of around $2 billion.
K Health adds AI to online diagnosis
K Health, an app that uses AI and anonymous health records to augment the diagnoses of health problems, has raised $12.5 million. Investors include Comcast Ventures, Bessemer Venture Partners, and Mangrove Capital Partners, among others.
Niantic snaps up Seismic Games
Niantic, the augmented reality game developer best known for Pokemon Go, has acquired Seismic Games, a venture-backed developer of mobile games based on the Marvel comic universe.TTTTTT
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