Skip to main content

Chinese EV Startup Xpeng set for $4 Billion valuation amidst targeted $600 million raise

image credit : Xpeng

Chinese electric car startup Xpeng Motors is set to reach a $4 Billion valuation even before it begins official sales of its vehicles with Bloomberg reporting of the 4 year old startup's aim to raise $600 million this month from the likes of Alibaba, Foxconn and Xiaomi CEO Lei Jun in the hot EV market even after it's raised just over $700 million since its inception from a roster of major technology investors.

Xpeng's backers include the likes of IDG Capital, Morningside, Shunwei Capital, YF Capital, Lightspeed, GGV Capital and aslo Alibaba who is earmarked to also invest in this aimed round.

With the EV market being very hot in the Chinese and global region, Several EV startups and also major automakers have already churned out several electric vehicles for consumers with Xpeng now gearing to take on the likes of Nio, Tesla, BYD, Geely and other automobile manufacturers in the Chinese market.





image credit : Xpeng

Xpeng has already dished out 400 of its…

The Uber of scooters just got a whole lot of it!


Bird 

Bird, The Electric Scooter ride-sharing service which was founded by a former Uber and Lyft Executive has made huge deals with current Electric Scooter leading company Ninebot and notable chinese electronics maker Xiaomi to make use of its scooters in its ride-hailing services which are currently expanding rapidly.

Bird works closely with cities to help make transportation better & more environmentally friendly using its electric scooters which are charged and repaired by independent contractors working in the gig economy space.

Bird surprisingly came to Charlotte and Nashville just few days ago but has been required to pause its operations in Nashville currently after its 100 scooters was deemed as obstructing the sidewalks for pedestrians whereas the scooters are meant to use street and bike lanes where cyclists use.






The company currently operates in 8 other cities including Los Angeles and San Francisco.

Bird which is currently valued at $400 million and has raised a cool $100 million from investors including Tusk Ventures, Craft Ventures and Lead Egde Capital already has over 1,000 of its bikes on the streets it operates on and have been used for over 250,000 rides.

Bird will now have to go head-to-head with its major competitors LimeBike and Spin who have also made huge electric scooter deals with companies including the ones Bird made their own deals with.

After Bird founder Travis VanderZanden has gained experience at Uber and Lyft disrupting the taxi business, Will this disrupt too and become a craze like Uber? Time should tell while we observe.



Comments

Popular posts from this blog

Wireless Power startup Nikola Labs raises $1.2 million to expand its IoT services

Wireless power developer Nikola Labs has now raised $1.2 million in new funding to grow its operations as it produces wireless power components for various Internet of Things (IoT) services.

Prior to this, Nikola Labs has raised several venture rounds from various incubators and startup investors at the company's area represents a very revolutionizing one and has seen Nikola recruit various talent as it continues to dish out its several smart products.

Nikola currently offers a "Predictive Maintenance" service for facilities where it provides custom wireless power transmission products and services for consumers.





Amongst its products include a phone case which extends battery life through the recycling of wasted energy through the conversion of Radio frequency to Direct current energy.

Nikola's wireless charging solution stands as a very innovative and revolutionizing one as its energy harvesting system is capable of delivering power at a distance of 30 feet in comp…

Google faces record $5 Billion fine from the Euopean Union over Android Anti-trust Case

image credit : Flickr/Ken Yeung

Tech giant Google is facing what is a record fine issued by the EU over antitrust regulations with a reported €4.34 Billion ($5.06 Billion) imposed on the company over a stated violation of anti-trust laws with the EU accusing Google of abusing the dominance of its Android operating system through the bundling of its search engine and Chrome applications into the OS.

 This comes a year after Google was fined an also then record $2.7 Billion fine over alleged manipulation of its search results, A judgement currently under appeal by Google and is being debated in the legal courts.

 The European Union first began an investigation into this allegation as long as 39 months ago and is now making this verdict in response to the case which has seen Google being imposed with the largest fine ever by the European Union over anti-trust valuations.

 In addition to this, Google is also alleged to have blocked other smartphone makers from creating devices running modde…

Enterprise Blockchain company R3 reported to be mulling an IPO ,Outright sale

image credit : R3


According to a report from Bloomberg, Major Blockchain software company R3 which notably works with a consortium of over 200 companies including the likes of Microsoft, Intel and many other heavyweight enterprises and financial institutions is now said to be in talks with several advisers about an upcoming Initial Public Offering or sale although it hasn't made any final decisions yet.

Bloomberg cites people familiar with the matter concerning this new report.

R3 has raised well over $100 million in capital since its start in 2014 and has been working with major financial institutions and other enterprises on the deployment of blockchain services for the companies.





R3's Corda blockchain software currently has both an open source and commercial version and has seen huge success since its release with many enterprises adapting the software for use in blockchain services which provides the ability of making financial transactions more faster amongst other notabl…

Machine Learning startup Unisound gets $90 million in latest funding round

Image credit: Unisound

Chinese AI and Machine Learning startup Unisound has just closed 600 million Yuan ($90 million) in funding as part of its Series C round from several investors which include internet security company Qihoo 360, Qiming Venture Partners, Hanfor Holdings and the China Ministry of Finance with this investment round now bringing the total raised by the 6 year old AI startup to $300 million.

This investment notably came with a valuation of around $1 Billion for the company according to Caixin Global marking the latest entrant into the unicorn space.





With AI growing rapidly around the globe, Unisound is part of the huge swath of companies looking to provide various machine learning and AI hardware and software solutions for application across vast industries such with the healthcare, automobile, manufacturing and other industrial sectors being a major part of the rapid growth.

Unisound has continued to see high revenue growth over the years with the company now targeti…

Indian Learning startup Unacademy nabs $21 million investment from Sequioa, Nexus, SAIF and Blume Ventures

image credit : Unacademy

Bangalore based ed-tech startup Unacademy has now raised $21 million in a Series C investment round from major U.S. VC firms Nexus Ventures and Sequioa Capital along with Indian VC firm Blume and SAIF partners.

 The investors in this round stand out as the 4 of them were also the investors which participated in the company's most previous $11.5 million Series B round September last year with this funding coming after a previous report by Inc42 stating that Unacademy was aiming to raise a new round of $30 million for its operations.

Unacademy which has grown to over 3,000 educators on its platform is making use of this investment to "onboard new educators on the platform, penetrate deeper in categories including pre-medical, GATE and CAT, and further strengthen the core product and technology team."





“Sequoia India is thrilled to lead the new round in Unacademy, which is already making a big impact in India’s online learning space. Gaurav, Roman and…

Snowball Finance gets $120 million investment from Ant Financial

image credit : Ant Financial

Chinese fintech startup Snowball Finance has now gotten a confirmed $120 million Series D investment from fintech giant Ant Financial in this round which brings the total raised by the 8 year old startup to a bit over $170 million after having raised previous rounds from notable investors including Sequioa Capital, Renren and Morningside.

Snowball notably offers financial information and trading services through its site reported to have grown to a huge community of over 12 million monthly active users which provide financial information, investment ideas and in-depth data across its service.

This capital will be invested in Snowball's product development, recruiting of talent and improvement of its trading system according to the company's founder and CEO Fang Sanwen.





This investment from fintech giant Ant Financial which notably raised a record $14 Billion last month at a $150 Billion valuation represents a strategic partnership as Ant Financial b…

Booking Holdings invests $500 million in major ride-hailing firm Didi Chuxing

image credit : Didi Chuxing 

Travel giant Booking Holdings notable for operating some of the world's largest travel tech services including its eponymous Booking.com, Priceline, Kayak, Cheapflights and Agoda.com while being a major company in the transportation tech sector has now entered into a strategic partnership with Chinese ride-hailing giant Didi Chuxing investing $500 million while integrating both company's services together.

This partnership will now see several integrated features such as a new one which will now see users on Booking Holdings' brands being able to get on-demand car services powered by Didi in-app and Didi's users now also having the option to book hotels though Booking.com and Agoda.

Stephen Zhu, Vice President for Strategy of Didi Chuxing, said, "Building on its leadership and expertise in the global online travel market, Booking is championing a digital revolution of travel experience. We look forward to seamlessly connecting every seg…

Corrected : Self driving startup Zoox is rasing $500 million in new round led by Australian entrepreneur Mike Cannon-Brookes

Courtesy : Bloomberg
Self-driving technology startup and Unicorn Zoox has now raised $500 million in a new Series B round confirmed to be led by Australian entrepreneur and Billionaire Atlassian co-founder Mike Cannon-Brookes as first reported by Bloomberg.

 Zoox has been one of the most tracked startups in the autonomous vehicle space despite being quite secretive about its products but has seen much several reports concerning its autonomous vehicles and the company's acquisition of talent from major technology companies like Tesla, Apple, Amazon, Google and Ferrari among others.





Zoox has now raised a total of about $800 million with its three funding rounds amounting to investments of $40 million, $250 million and $500 million respectively whilst being valued at $3.2 Billion post-money and counting notable investors including Billionaire film producer Thomas Tull, Lux Capital, Draper Fisher Jurvetson and Blackbird Ventures.

Zoox is notable for building its own autonomous vehicle…

KKR takes $400 million stake in ad-tech company AppLovin at $2 Billion Valuation

image credit : AppLovin

Ad-tech company AppLovin has now agreed to a $400 million investment from private equity giant KKR & Co in a deal valuing the 6 year old company at $2 Billion counting an increase of $600 million from its most previous valuation of $1.4 Billion.

AppLovin stands as a comprehensive platform providing connection of app developers of all sizes with ideal global consumers with a focus on the gaming sector and with this investments plans to "accelerate AppLovin’s goal of giving app developers of all sizes the ability to finance, market, and grow their businesses."

The company which reaches over 300 million users daily just recently launched its mobile game division Lion Studios which has already published several mobile hit games including Draw In, Love Balls, Cash, Inc., and Clicker Racing which has already garnered over 60 million downloads between them.





“AppLovin is a robust, market leading platform in the high-growth mobile gaming market,” said Hera…

3D tech startup Mantis Vision raises $55 million from Samsung and Luenmei

Israeli 3D technology startup Mantis Vision notable for its provision of 3D image and video capturing technology with the company's tech being used in Google's Tango augmented reality computing platform before Tango was retired and also counting a partnership with smartphone maker Xiaomi has now closed a $55 million Series E funding round led by  Luenmei Quantum Co along with Samsung who stands as a returning investor in this round having already funded Mantis' previous Series C round through its Samsung Ventures arm and is investing in this round through its Samsung Catalyst Fund investment vehicle.

Mantis also counts other previous notable investors including semiconductor manufacturer Qualcomm, major lens manufacturer Sunny Optical Technology and Palo Alto based VC firm Eclipse.

This investment brings the total raised by Mantis to $84 million and will be funneled "to extend the company’s technological edge, accelerate Mantis Vision’s go-to-market strategy, expand …