Startup Monday: 10 news to follow this week in the global startup ecosystem (Issue 42–30 May 2021)
Cryptocurrency | AI | India | Tesla | EU
Dear Friends,
Welcome back to my weekly newsletter where I share some of the major developments on the global startup ecosystem that you need to know about!
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Here we go!
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Sharing the following this week:
- Goldman Sachs leads a $45M investment into auto fintech startup MotoRefi. The startup developed an auto refinancing platform that handles the entire loan process, including finding the best rates, paying off the old lender, and re-titling the vehicle.
- Cryptocurrency startup Circle has raised $440 million in new funding, the company said Friday, adding to the list of crypto-focused businesses that have benefited from a bull run by investors.
- Brazil’s QuintoAndar, which has developed a real estate marketplace focused on rentals and sales, has announced it has closed on $300 million in a Series E round of funding that values it at an impressive $4 billion.
- OpenAI, the research company behind the GPT-3 natural language generator, has unveiled a $100 million AI startup fund that will provide investment money to startups that are driving intriguing AI technologies.
- Tesla CEO Elon Musk recently announced that the company is no longer just a manufacturer of electric cars, but that they are currently dabbling in artificial intelligence with the development of one of the strongest hardware and software AI teams in the world.
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