Here are top startup updates of the day.
There were several developments in the startup space during the day. Here are top startup updates of the day:
Google funds Indian content platforms DailyHunt’s Josh, InMobi’s Glance
Google has announced large bets, one in InMobi Group's Glance, a lock screen content platform, and another in DailyHunt's Josh, a short-video platform. The funding comes from the $10 billion India Digitization Fund that was launched by Google CEO Sundar Pichai earlier this year.
Google has invested in a $145 million funding round of InMobi subsidiary Glance, along with the existing investor, Mithril Capital. Mithril Capital is a global investment fund founded by Silicon Valley investors Peter Thiel and Ajay Royan. Google has also joined Microsoft and other investors in a $100 million round in VerSe Innovation, mainly to scale Josh. VerSe Innovation is the parent company of news aggregator platform DailyHunt. The funding also makes DailyHunt the newest unicorn.
CoinDCX raises Rs 100 crore in Series B funding round
Cryptocurrency exchange CoinDCX has raised Rs 100 crore in Series B funding round led by Block.one and includes investors like DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures and Alex Pack. This makes for the third round of funding for CoinDCX in 2020.
In March 2020, CoinDCX raised Series A funding worth $3 million from companies such as Polychain Capital, Bain Ventures and Bitmex. In May 2020, the exchange raised $2.5 million in a strategic round from the above companies as well as Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency trading platform Coinbase. Compiling all three rounds of funding this year, CoinDCX has raised close to $19.4 million, till date.
Gaming startup EWar raises Pre-Series A funding round from Inflection Point Ventures & other angel investors
Bengaluru-headquartered gaming and esports startup EWar Games has raised a Pre-Series A funding round led by Inflection Point Ventures. JITO Angel Network, Hyderabad Angels, and Pearl Agarwal, Founder & Director, Eximius Ventures also participated in the round. The funds raised will be utilized to drive further penetration into the Indian esports segment by introducing several new technologies and products.
With the latest influx of funds in this round, CoinDCX will continue to introduce innovative products, including the newly launched Bitcoin/Crypto Investment App, CoinDCX Go, accelerate the process of hiring the top talents in the industry and continue the hockey stick growth, as witnessed in 2020.
Airbnb announces Economic Empowerment Award; founder Brian Chesky to fund, mentor startup
Airbnb has announced the 'Ron Conway/SV Angel Economic Empowerment Award' dedicated to one of the company's earliest investors Ron Conway. Every year, Airbnb co-founder and CEO Brian Chesky and Conway will select one Y Combinator startup that "is working to create more economic empowerment opportunities for people across the world." The selected startup will receive funding from Airbnb with "no strings attached".
Additionally, Conway and Chesky will personally mentor the recipient. The announcement comes at a time when Airbnb’s valuation surged past $100 billion during the IPO debut. In a blog, Chesky said that it was the support of angel investors like Conway that made it possible for him to build Airbnb.
Apple targets car production by 2024 and eyes 'next level' battery technology: Sources
Apple is moving forward with self-driving car technology and is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology, people familiar with the matter told Reuters.
The iPhone maker’s automotive efforts, known as Project Titan, have proceeded unevenly since 2014 when it first started to design its own vehicle from scratch.
(Edited by : Jomy)