Twitter today won its motion for an expedited trial in its lawsuit against Elon Musk. During the hearing, reports CNBC, Twitter lawyer's argued that Twitter’s request for a September trial was well in line with the timelines for similar cases in the past. He added that a quick trial schedule is imperative to stop the ongoing harm Twitter has experienced from Musk's actions since nearly the moment he announced he was buying the company. More here.
Apple has agreed to pay $50 million to settle a class-action lawsuit by customers who claimed it knew and concealed that the "butterfly" keyboards on its MacBook laptop computers were prone to failure. Speaking as customers who on numerous occasions have wanted to throw these butterfly keyboards into a fire, we cheer this development. Reuters has more here.
U.S. stock indexes recorded their biggest one-day gains in nearly a month today, as investors reacted positively to a fresh batch of company earnings reports.
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Cartography Biosciences, a nearly two-year-old, Foster City, Ca.-based precision medicine company, has raised $57 million in Series A funding led by 8VC and earlier backer Andreessen Horowitz. Other backers in the round include a mix of earlier and new investors, including Wing VC, Catalio Capital Management, ARTIS Ventures, Alexandria Venture Investments, AME Cloud Ventures, the Cancer Research Institute, and Gaingels. FierceBiotech has more here.
Casavo, a five-year-old, Milan, Italy-based Opendoor-style proptech startup, raised €100 million in Series D funding. Exor led the round, joined by a long list of participating investors. The company also raised €300 million in debt from Intesa Sanpaolo, Goldman Sachs and D.E. Shaw. TechCrunch has more here.
Cassava Technologies, a 1.5-year-old, U.K.-based technology company focused on the African market (it apparently has all kinds of product offerings, including data centers, fiber networks, renewable energy projects, and cybersecurity, fintech and digital platforms), has raised $50 million from C5 Capital. Business Insider has more here.
Flip, a three-year-old, Los Angeles-based social commerce startup that invites customers and brand loyalists to share video reviews of products they've purchased (and enables visitors to purchase goods directly from the platform), has raised $60 million in Series B funding led by WestCap. Earlier backers Mubadala Capital and Streamlined Ventures also joined the round. The company has now raised $95 million. Axios has more here.
Halborn, a three-year-old, Miami-based blockchain security startup, has raised $90 million in Series A funding led by Summit Partners. Other investors in the deal included Castle Island Ventures, Digital Currency Group and Brevan Howard. Bloomberg has more here.
TAE Technologies, a 24-year-old nuclear fusion company, has raised $250 million in fresh funding, including from longtime partner Google (it provides TAE with AI and computational power) along with Chevron Technology Ventures and Sumitomo Corporation of Americas. CNBC has more here.
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Big-But-Not-Crazy-Big Fundings |
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FORT Robotics, a 3.5-year-old, Philadelphia, Pa.-based startup whose platform promises to pair functional safety and cybersecurity principles to ensure that critical information can be sent to, from, and between machines, has raised $25 million in Series B funding led by Tiger Global. Robotics and Automation News has more here.
Ghost, a 1.5-year-old, Los Angeles-based startup whose software tries to help brands optimize their inventory distribution, has raised $13 million in Series A funding led by Union Square Ventures, with participation from Eniac Ventures, Human Capital and Flexport. The outfit has now raised $28 million in total equity and debt funding. TechCrunch has more here.
Gordian Software, a five-year-old, Seattle-based startup that builds APIs aimed at helping travel organizations to increase revenue, has raised $25 million in Series A funding from Accomplice, Kinnevik, and others. Skift has more here.
Phaidra, a three-year-old, Seattle-based company that develops AI-powered control systems for industrial manufacturing, has raised $25 million in Series A funding. Starshot Capital led the round and was joined by investors including Helena, Ahren Innovation Capital, DeepMind cofounder Mustafa Suleyman, Flying Fish, Section 32, and Character. GeekWire has more here.
Spruce, a six-year-old, Austin, Tex.-based residential home services startup, raised $26 million in Series B funding led by Sweat Equity Partners, with participation from SoftBank, Mercury Fund, Fitz Gate Ventures, Seamless Capital, Raven One Ventures, and New Age Ventures. The company has also appointed board member Stephen Pho as CEO, replacing founder Ben Johnson in the role. Austin Inno has more
here.
X1 Card, a nearly five-year-old, San Francisco-based "smart" credit cart startup, has raised $25 million in Series B funding. FPV Ventures led the round, joined by a mix of new and earlier backers, including Craft Ventures, Spark Capital, Harrison Metal, SV Angel, Abstract Ventures, the Chainsmokers, and Global Founders Capital. TechCrunch has more here.
XSET, a two-year-old, Boston-based gaming and lifestyle company, raised $15 million in Series A funding. LightWork Worldwide led the round, joined by Alpha Sigma Capital, Apex Capital Partners, and Baron Davis Enterprises, among others. VentureBeat has more here.
Zebedee, a three-year-old, Hoboken, N.J.-based payment processor for the gaming industry, has raised $35 million in funding led by Kingsway Capital, with participation from The Raine Group, Square Enix, Lakestar and Initial Capital. More here.
Zesty.ai, a seven-year-old, Oakland, Ca.-based startup that provides AI-powered property analytics for carriers like Farmers and Berkshire Hathaway, has raised $33 million in Series B funding led by the growth equity fund Centana Growth Partners. More here.
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Bloom, a Sudan-based fintech that offers a high-yield savings account and adjacent digital banking services, has raised a $6.5 million seed round from Visa, Y Combinator, Global Founders Capital, Goodwater Capital and VentureSouq, among others. TechCrunch has more here.
Bluestream, a seven-year-old, Worcester, Ma.-based customer service software company, raised $5.2 million in Series A funding co-led by PBJ Capital and GutBrain Ventures, with participation from York IE and Zenie Group. More here.
Charter, a 1.5-year-old, New York-based digital media and insights start-up focused on the future of work, has raised $3 million in a seed round led by Bloomberg Beta, with participation from Precursor Ventures, The Fund, Old Town Media, and numerous individual investors. Axios has more here.
Cornerstone AI, a nearly two-year-old, San Francisco-based health care data company, has raised $5 million in seed funding led by Healthy Ventures, with Initiate Ventures also participating. VentureBeat has more here.
FairPlay, a two-year-old startup based in Los Angeles whose software analyzes banks' loan programs and rejections for signs of discrimination, has raised a $10 million Series A funding led by Nyca Partners; additional investors included Cross River Digital Ventures, Third Prime, Fin Capital, TTV, Nevcaut Ventures, Financial Venture Studio and Jonathan Weiner. American Banker has more
here.
Hearth Display, a 1.5-year-old, Brooklyn, New York-based digital touchscreen board company, has raised $3 million in funding. Girls Who Code’s Reshma Saujani, Rent The Runway’s Jenny Fleiss, Female Founders Fund, Stellation and others invested in the round. TechCrunch has more here.
Perelel, a two-year-old Los Angeles-based maker of a prenatal vitamin brand, has raised $4.7 million in seed funding led by Unilever Ventures, with participation Willow Growth Partners and a long list of individual investors. Forbes has more here.
Push Security, a 2.5-year-old, UK-based security company that says it finds the SaaS apps that employees use and helps them protect themselves, has raised $4 million in seed funding led by Decibel Partners, along with numerous individual investors. TechCrunch has more here.
Resolve, a three-year-old, Hanover, N.H.-based medical bills payment platform, has raised $3.3 million in seed funding. AlleyCorp led the round, joined by Funding Circle, Collective Health, Collective Medical, Nomi, Compass, and Seamless among others. More here.
WeMoney, a nearly two-year-old, Perth, Australia-based debt tracking and payment platform, has raised $7 million in funding co-led by Full Circle VC and Betterlabs. Australia's Financial Review has more here.
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AM Ventures, a Munich-based venture outfit that began as a family office and now has a range of limited partners, says it just closed a $100 million fund to focus specifically on the early growth stages of industrial and commercial 3D printing applications. TechCrunch has more here.
The global venture firm B Capital has raised $250 million in capital commitments for its first dedicated early-stage venture capital fund. More here.
The four-year-old, San Francisco-based venture firm Tribe Capital has raised $25 million from outside investors to collaborate with crypto developers and help incubate their startups. The new program, dubbed Tribe Crypto Labs, plans to "form partnerships, joint ventures and other decentralized initiatives through the Cosmos ecosystem as well as on layer-1 blockchains like Avalanche and Solana," firm cofounder Arjun Sethi shared with TechCrunch. More here.
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Industry Dive, a Washington, D.C.-based business media company, has signed an agreement to be acquired by Informa, a publicly traded events and publishing company, for an enterprise value of $525 million, reports Axios. More here.
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Citadel founder and CEO Ken Griffin has his Palm Beach neighbors irked, reportedly. He has already formed the largest residential property on the island; now, he's beginning work on a 44,000-square foot manse for his mother, too. The Daily Beast has more here.
Norwest Venture Partners has hired John Gu as a principal on its growth equity team. Gu previously spent seven years as an investor with Spring Mountain Capital. More here.
A founding member of Elon Musk's Neuralink left the company in recent weeks, according to Reuters, the latest in a string of departures at the brain implant startup. Paul Merolla, who helped launch Neuralink in 2016 and worked on its chip design program, is no longer with the San Francisco area company.
Today, at the Bloomberg Crypto Summit, Mike Novogratz, the billionaire investor and renowned Bitcoin bull, acknowledged that he was “darn wrong” about the magnitude of the leverage in the system. Said Novogratz; “What I don’t think people expected was the magnitude of losses that would show up in professional institutions’ balance sheets and that caused the daisy chain of events. It turned into a full fledged credit crisis with complete liquidation and huge damage on confidence in the space.” More here.
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According to a Bloomberg analysis of adoption rates around the world, the U.S. is the latest country to pass what’s become a critical EV tipping point: 5% of new car sales powered only by electricity. This threshold signals the start of mass EV adoption, the period when technological preferences rapidly flip, according to the outlet. More here.
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The new company of WeWork cofounder Adam Neumann, Flowcarbon, one of a group of companies that are issuing cryptocurrencies backed by carbon credits, says it has decided to “wait for markets to stabilize” before launching its products. As the WSJ notes, Flowcarbon and its peers are combining cryptocurrency, a type of digital asset that trades on decentralized computer networks, with another largely unregulated and volatile financial instrument: carbon credits. More here.
The UK regulator’s order for Meta to sell Giphy is under review yet again, reports Bloomberg. The Competition and Markets Authority had ordered Meta to sell Giphy late last year, but a judge just quashed the order over concerns about the agency’s investigation approach. More here.
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Sashay away!
How hot is too hot for the human body.
The haves and the have-yachts. "The boats have grown so vast that some owners place unique works of art outside the elevator on each deck, so that lost guests don’t barge into the wrong stateroom."
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A bucket hat sure to leave an impression.
Speaking of Adam Neumann, another of his Westchester, N.Y. properties just hit the market, for $4.5 million. The Post has more here.
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