Skip to main content

Rent The Runway Raises $125 Million, At $1 Billion Valuation

New York based clothing rental startup Rent the Runway has raised $125 million in funding co-led by Franklin Templeton Investments and Bain Capital Ventures, with participation from all existing lead investors, T. Rowe Price and Hamilton Lane Advisors. This round brings the total raised by the company to approximately $337 million and values it at $1 billion.

With this investment, Franklin Templeton portfolio manager Sara Araghi has been appointed to Rent the Runway's board, joining as the fifth female board member at the female-led company. The company says the new funding will enable it to accelerate subscription growth, infrastructure and broaden assortment and category offerings.


“Shared, dynamic ownership is a movement that Rent the Runway has pioneered over the last decade and we’re excited to continue to lead the market and innovate our subscription service,” Rent the Runway co-founder and CEO Jennifer Hyman said in a statement. "The apparel and accessories market is …

Ledger Unveils New Crypto Hardware Wallet, Nano X At CES

Ledger Nano X

image : Ledger

At the Consumer Electronics Show, crypto hardware wallet maker Ledger unveiled a new product, Nano X - a Bluetooth enabled hardware wallet that improves on the current Nano S version offered by Ledger which the company says has sold over 1.5 million units. The Nano X is built with enhanced security and improved user experience, Ledger says.

It's also paired with the Ledger Live Mobile app, a new offering that will allow users manage secure transactions, check balance in real-time and install and un-install apps on the go. Users of the Nano S will also be able to use it to check their balance in read-only mode.



The Nano X's Bluetooth feature enables for connection to smartphones through the Ledger Live Mobile app, providing an easier way to manage crypto assets on the go. It can store 100 crypto assets, over 6 times the capacity of its predecessor and includes a larger screen with improved interface.

"The Ledger Nano X includes all of what you loved about your Nano S, but with new and improved major features," Ledger CEO Eric Larchevêque said. "With its Bluetooth connectivity and increased capacity, the Ledger Nano X provides an enhanced user experience while delivering the mobility and state-of-the-art security that customers expect from Ledger. It is exciting to be recognized by CES as the go-to leader for securing crypto assets."



The Nano X leads the market in supporting over 1,100 cryptocurrencies and will enable users send and receive cryptocurrency payments from anywhere. Its security feature isolates private keys from the owner's computer or smartphone to prevent compromise, protecting these keys in a hardware wallet instead of an exchange or in the cloud.

"As global data-ization continues to change people's lives, users are looking for trusted partners to protect their critical digital assets," Ledger President Pascal Gauthier said. "At Ledger, we offer customers a way to secure these assets, through our state-of-the-art technology. With the Ledger Nano X, we are delivering increased security, along with improved access through the new Ledger Live mobile app."

Ledger Live Mobile app

image : Ledger

Ledger has also been awarded the CES Innovation Award in Cyber Security and Personal Privacy for this year.


Comments

Most Read Posts

Apple Debuts Two New iPads

Ahead of a March 25 event expected to showcase its moves into subscription based software, Apple has unveiled two new additions to the iPad lineup: a new 10.5-inch iPad Air and 7.9-inch iPad mini. It says the new iPad Air comes with a 70% performance boost and twice the graphics capability of the previous version.

Features of the new iPads include:

iPad Air:
Apple Pencil SupportA12 Bionic chip'Advanced Retina display with True Tone technology' - nearly 20 percent larger (with over half a million more pixels) than the previous versioneSIM technology.


The features of the new iPad mini are also quite similar to the new iPad Air. Apple says the new iPad mini comes with three times the performance and nine times faster graphics than the preceding version. It also says it's "25 percent brighter and has the highest pixel density of any iPad".

Set to hit stores next week, the new iPad mini starts at $400 for the Wi-Fi model and $530 for the Wi-Fi + Cellular model, while …

Gett Reportedly Looking To Go Public This Year

According to the Financial Times, Gett - an Israeli based ride-hailing startup valued at $1.4 billion from a last year round - is planning an IPO this year, potentially joining Lyft and Uber which are expected to also go public this year. According to FT, Gett is planning a listing in either Israel or on the London Stock Exchange.

Citing CEO Dave Waiser, the FT reports Gett considered a listing after seeing that ride-hailing rival Lyft planned to go public, despite growing losses. “We will see how Lyft goes, we believe there’s a lot of public capital waiting for the [technology] darlings [Uber and Lyft], but we also believe that our business model makes sense,” Waiser said.


Citing a monthly profit chart, the Financial Times says Gett's global business lost $3.5 million in December, but expects to ink more than $1 million in Profit this December. It also says its more mature European business inked $2.4 million in losses but is projected to record a higher profit by the end of thi…

Volvo Debuts Speed-Limit Setting Key

Following Volvo's move to set a 180km/h top speed limit on all its vehicles beginning 2020, Volvo has unveiled the Care Key, a device that allows users of its vehicles to set a speed limit for themselves, family members or friends. The Care Key will become standard on all its vehicles beginning 2021.

The device lets Volvo drivers set limitations on their car's top speed before use, or lending to acquaintances, tackling the issue of over-speeding on roads. In addition to capping speed, Volvo says it's currently courting insurance companies in several markets "to conversations" to offer favorable, special insurance packages to drivers using its safety features.


Volvo says it expects to announce the first of such agreements with national insurance firms soon. “We believe that a car maker has a responsibility to help improve traffic safety,” Volvo CEO Håkan Samuelsson said. “Our recently announced speed limit fits that thinking and the Care Key is another example. M…

Nvidia Debuts $100 AI Computer

Nvidia has unveiled the Jetson Nano, a new $100 AI computer that delivers 472 GFLOPS of computing performance for running AI workloads, and is power-efficient, consuming as little as 5 watts. Nvidia CEO Jensen Huang unveiled the device at the on-going GPU Technology Conference, where the company also announced a self-driving collaboration with Toyota.

The Jetson Nano actually comes in two versions - a $100 devkit for developers and a $130 production ready module for companies looking to utilize it to create mass-market systems. Nvidia says it can run several neural networks on each sensor stream, process many sensors in parallel and support high-resolution sensors and many popular AI frameworks.


Specs of the AI device includes:
Linux for Tegra - OS SupportGigabit Ethernet connectivity4 GB 64-bit LPDDR4 memoryQuad-core ARM A57 CPU 128-core Nvidia Maxwell architecture-based GPUVideo: 4K @ 30 fps (H.264/H.265) / 4K @ 60 fps (H.264/H.265) encode and decodeCamera: MIPI CSI-2 DPHY lanes, 12…

Toyota and Nvidia Collaborate For Self-Driving Tech

Toyota has tapped Nvidia for a collaboration to 'develop, train and validate self-driving vehicles', Nvidia announced on Monday at the on-going GPU Technology Conference (GTC) . This partnership builds on an already existing relationship with Toyota to utilize the Nvidia Drive "scalable AI platform for autonomous driving", and is based on collaboration between teams from Nvidia, Toyota Research Institute-Advanced Development (TRI-AD) in Japan and the Toyota Research Institute (TRI) in the U.S.

Nvidia says the agreement included the development of "an architecture that can be scaled across many vehicle models and types", boosting production and development timeline, and also "simulating the equivalent of billions of miles of driving in challenging scenarios."


“Our vision is to enable self-driving vehicles with the ultimate goal of reducing fatalities to zero, enabling smoother transportation, and providing mobility for all,” TRI-AD CEO Dr. James K…

Volvo Outs In-Car Cameras To Tackle Unsafe Driving

Volvo has unveiled new in-car cameras that it says will help tackle drunk and distracted driving in its vehicles. These cameras will see its debut on Volvo vehicles early next year. Volvo says the in-car cameras in conjuction with other sensors will allow the car to intervene if "a clearly intoxicated or distracted driver does not respond to warning signals and is risking an accident involving serious injury or death".

The vehicle's intervention could involve limiting speed, alerting the Volvo on Call assistance service, and actively slowing down and safely parking the car as a final course of action. Examples of situations where the camera comes into effect include a complete lack of steering input for long periods, drivers who are detected to have their eyes off the road, extreme lane weaving and slow reaction times.


Details on the exact amount of cameras and their positioning in the interior of Volvo vehicles will be revealed later. Volvo also debuted a new speed-lim…

Rent The Runway Raises $125 Million, At $1 Billion Valuation

New York based clothing rental startup Rent the Runway has raised $125 million in funding co-led by Franklin Templeton Investments and Bain Capital Ventures, with participation from all existing lead investors, T. Rowe Price and Hamilton Lane Advisors. This round brings the total raised by the company to approximately $337 million and values it at $1 billion.

With this investment, Franklin Templeton portfolio manager Sara Araghi has been appointed to Rent the Runway's board, joining as the fifth female board member at the female-led company. The company says the new funding will enable it to accelerate subscription growth, infrastructure and broaden assortment and category offerings.


“Shared, dynamic ownership is a movement that Rent the Runway has pioneered over the last decade and we’re excited to continue to lead the market and innovate our subscription service,” Rent the Runway co-founder and CEO Jennifer Hyman said in a statement. "The apparel and accessories market is …

HP Debuts New VR Headset

At the HP Reinvent conference, HP unveiled a new VR headset - the Reverb, a new "grounds-up designed" headset with twice the resolution, two-thirds the weight and half the cost of of the preceding HP Mixed Reality VR Headset. With the debut of this new headset, HP says it worked on a device that addresses three pain points commonly associated with VR headsets: visual quality, comfort and worry-free deployment and support.

Weighing just 1.1. pounds, features of the HP Reverb include:
2160 x 2160 display 114-degree field of viewIntegrated headphonesDual microphonesPre-paired motion controllersWindows Mixed Reality and Steam VR supportBluetooth connectivityRemovable, cleanable facemask cushions


The new headset comes in two versions: a Consumer Edition and Pro Edition. Set for availability in April, they'll go for $600 and $650 respectively. The Pro edition comes with an additional 0.6m headset cable and a washable fabric face cushion, hence the price.



Atlassian Snaps Up AgileCraft For $166 Million

Atlassian has announced an acquisition of AgileCraft - a Georgetown, Texas based provider of "enterprise agile planning software" - for $166 million: $154 million in cash, and the rest in restricted shares subject to vesting conditions. The acquisition is expected to close next month.

San Francisco based Atlassian's purchase of AgileCraft is expected to add approximately $1-2 million to the company's fiscal 2019 revenue. The 2013 founded company raised $10 million in funding from investors including private equity firm Crane Nelson, and former Bank of America senior executives Jim Kelly and Tim Arnoult.


This acquisition adds to Atlassian's notable buys, including a $295 million purchase of OpsGenie September last year and a $425 million purchase of Trello in 2017. “As Atlassian tools spread through organizations, technology leaders need better visibility into work performed by their teams. With AgileCraft joining Atlassian, we believe we’re the best company to h…

Walmart Plans To Launch Budget Tablet

As confirmed to Bloomberg by a Walmart spokeswoman, the company is looking to launch a low-cost, kid-friendly tablet under its ONN store brand, potentially competing with the likes of Apple, Amazon, Samsung, Huawei and Lenovo which dominate the tablet market.

According to presentations "given by senior management at a recent meeting of the company’s suppliers" cited by Bloomberg, Walmart will make home goods and electronics a focus this year. Releasing a tablet might likely be a move to boost its electronics sales business.


Walmart wouldn't be the only retailer to enter the tablet market, The likes of Amazon and Britain's Tesco have also seen success with the release of popular tablets (Tesco discontinued its in 2015 after a management change).

Walmart's ONN store brand is mostly known for accessories like TV soundbars, headphones, charging cables, Bluetooth speakers and smartphone cases. It also counts a low-priced VR headset and camera among its inventory.