Business and Economy


Entrepreneurs hit the pavement this week. AI startups Falkonry and Immuta raising $4.6 million and $20 million, respectively. And while AI may replace our jobs, startups are betting that it won’t replace our pets. After Scratchpay raised $6.4 million to help humans pay their vet bills, Crunchbase News found funding for pet startups reached $519.3 million in 2018–78 percent higher than all of last year.

As immigration heats up in the mainstream news, Rebtel secured $8 million for its migrant-focused digital banking platform. With that in mind, Crunchbase News also found that about half of the most heavily funded U.S. unicorns were founded or are lead by immigrants. And in other news, VCs are funding assistive tech startups that aim to change the lives of people living with disabilities.

Meanwhile, a China-based English education startup, a food delivery company, and a cybersecurity platform all raised over $100 million. And while those entrepreneurs are all about the hustle, mindfulness app Calm picked up a $27 million Series A to help its users stop and smell the roses.

In China, Google partnered up with through a $550 million strategic investment. And back in the U.S., Amazon announced its new “Prime Wardrobe.”

To wrap it up, SEC filings show that the Texas-based Mercury Fund is aiming to raise a $125 million fund, its largest so far.

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