SoFi, Rivian, Sonder and Omie, KeepTruckin’, Harness, Luckin Coffee and DouYu
SoFi said to seek $500M from Qatar
Online lender SoFi is reportedly in the final stages of closing a funding round of around $500 million from the Qatar Investment Authority and others. The financing would set a valuation around $4.3 billion, similar to the company’s last major funding round.
Rivian raises $500M from Ford for EVs
Plymouth, Michigan-based Rivian, a developer of electric drive technology for battery-powered vehicles, has raised $500 million in fresh funding from Ford Motor Co. The companies also announced a partnership to develop a new, next-generation battery electric vehicle.
Airbnb rival Sonder said to plan big round
San Francisco-based Sonder, operator of an apartment rental marketplace for travelers, is reportedly close to completing an investment round of around $200 million that will value the company at close to $1 billion.
Brazil’s Omie secures $20M for SaaS
Omie, a Brazilian startup focused on providing small and medium-sized businesses with a business management platform, has closed on a $20 million Series B round backed by Riverwood Capital.
No IPO or funding slowdown in sight
It’s still hot times in tech. On public markets, both the Nasdaq and the S&P 500 recently hit record highs, helping drive new IPO entrants, including most recently China-based ecommerce unicorn Yunji. Private investors aren’t slowing down either, which is good news for new funding recipient Eightfold.ai.
Crunchbase: Five things to not do when running a business
Running a business is daily chaos. Even if you persevere through the struggle and make all the right decisions, you may still ultimately fail. These are the five most common ways entrepreneurs ruin a business.
KeepTruckin’ fuels up with $149M
San Francisco-based KeepTruckin’, a platform focused on helping truck companies manage their fleets, has raised a $149 million Series D round at a post-money valuation of $1.4 billion. The trucking industry joins the construction industry in being among the least traditionally “sexy” sectors, which makes it ripe for disruption.
Austin just keeps drawing tech companies
Nearly every day another company announces it has either relocated its headquarters to Austin or plans on opening a secondary office in the Texas capital. Crunchbase News takes a look at some of the more recent big moves, and what’s driving the migration.
Harness cinches $60M for faster coding
Harness, which wants to help engineers push out reliable code faster, snapped up $60 million in a Series B round led by Institutional Venture Partners, GV, and ServiceNow Ventures. Founded in 2016, the San Francisco-based company launched out of stealth eighteen months ago.
Luckin Coffee brewing up US IPO
Days after raising a fresh $150 million, China-based caffeine purveyor Luckin Coffee filed to go public in the United States. Its IPO filing reveals a high-burn, growth-oriented operation, with a very short operating history.
Game on for DouYu IPO
Luckin isn’t the only China-based unicorn planning a U.S. market debut. DouYu, a leading live game streaming platform, also filed for an IPO, with a prospectus demonstrating a track record of sharp growth coupled with large, persistent losses.
Crunchbase: Seven questions to ask when investing in a startup
Whether you’re an investor looking to fund the next unicorn, or a startup founder raising your first round, aligning with what top investors are looking for is crucial. Here are the key questions successful investors ask before they put their money down
