Startup Monday #23: Latest tech trends and news happening in the global startup ecosystem
Venture Capital
Bloccelerate VC just raised $12 million for its first fund that will back startups selling blockchain technology to enterprise customers. The 3-year-old Seattle-based firm plans to invest in 10-to-15 early-stage companies, with an average investment ranging from $500,000 to $2 million. It has already made five investments in startups including Blockapps, Symbiont, and MakerDAO. Read more
WeRide, one of China’s most-funded startups developing autonomous driving capabilities, said on Wednesday that it has raised a $200 million strategic round from Chinese bus maker Yutong. Read more
Hashed, the South Korea-based blockchain firm, has raised a nine-figure investment fund. According to the firm, its new entity, Hashed Ventures, Inc., has raised $120 million for a fund that will be focused on the new era of distributed networks. Read more
The Detroit-based e-commerce platform, which bills itself as a “stock market of things,” announced Wednesday morning that it raised $275 million in a Series E funding round from a crop of new investors. The raise values the company, co-founded by billionaire Detroit businessman Dan Gilbert, at $2.8 billion. StockX says it has now raised a total of $490 million since launching in 2016. Read more
Blockchain
Seoul-based blockchain investment group Hashedrevealed that it has raised $120 million for its first crypto fund. The firm, led by CEO Simon Kim, intends to invest in disruptive blockchain startups including base layer protocols similar to Ethereum. According to Kim, the next wave of crypto networks will mark the start of the “protocol economy,” an era in which data and value is transmitted globally by crypto networks using a shared public ledger. He predicts strong government and institutional support for this new paradigm and has had no trouble selling out the group’s first VC fund. Read more
VeChain Becomes The First 5-Star-Rated Blockchain Service Provider In The World, Certified By TÜV Saarland . Read more
VR/AR
To bring VR into the mainstream, what’s been missing is the backing of a Silicon Valley behemoth. Facebook is now stepping into that role. For better or worse, the social-media company is going all in on the technology, devoting considerable technical, financial and marketing resources in an effort to transform it from a niche technology to a vastly entertaining and useful new form of reality — and a surprisingly affordable one. Even Facebook’s critics acknowledge that its newest headset — the standalone $299 Oculus Quest 2, which Marren used in her theater outing — is just the sort of high-performing, affordable entry the industry needs to launch VR into the realm of the mass market. Read more
Microsoft Flight Simulator now supports most virtual reality headsets. If you have a headset that’s SteamVR compatible or OpenXR compliant, such as an HTC Vive, Oculus or Windows Mixed Reality one, you’ll be able to explore the world in VR following the latest update. Windows Mixed Reality headset owners were able to try the feature first as part of a closed beta, but now it’s open to everyone. Read more
Startups in Israel
Israeli startup BlazePod, the creators of the original Flash Reflex (FRX) fitness training system, has raised an additional $8.5 million in second funding round, the company announced last week. The round was led by private equity fund AP Partners. This fund specializes in small and medium-sized Israeli companies with potential in the global market. Israeli partners Israel Shliser and Hagai Stadler led the investment. Read more
The COVID-19 pandemic brought wild swings in the world economy and morale in 2020. The local tech market, meanwhile, remained resilient amid an accelerated demand for technology that supported cloud, cybersecurity, and working from home, according to a new report by PwC Israel. Although this year had far fewer IPOs and merger and acquisition deals — 60 versus 80 in 2019 — their cumulative value soared to a whopping $15.4 billion, a 55 percent jump from $9.9 billion in 2019. Read more
Content discovery firm Outbrain is seeking to hold an initial public offering of shares on Wall Street at a $2 billion valuation after a merger deal with a competitor fell through, TheMarker financial website reported on Sunday. Read more
Fast-charging batteries and next-generation heat solutions are among the eight clean energy projects that the US Department of Energy and Israel’s Ministry of Energy have chosen to get $7.15 million in funding from the Binational Industrial Research and Development (BIRD) Energy program. The total value of the funding is $17.4 million, as it includes $10.25 million in cost-sharing from selected companies. Read more
