India: Used car retailing startup Spinny snags $65m led by General Catalyst
April 9, 2021
Gurugram-based used car retailing platform Spinny on Thursday announced that it has raised $65 million in Series C funding led by Silicon Valley-based venture capital firm General Catalyst – an early backer of Airbnb, Stripe, Snapchat, Vroom, Cazoo, among others.
Other new investors in the round include Feroz Dewan’s Arena Holdings, and Think Investments. The round also saw participation of existing investors Elevation Capital, The Fundamentum Partnership, and others, Spinny said in a statement.
With the latest round, Spinny’s total funding till date stands at over $120 million, it added.
UK Insurtech Unicorn: Zego Raises $150 Million at $1.1 Billion Valuation
Insurtech
Zego says it has raised $150 million at a $1.1 billion valuation thus emerging as the UK’s first Insurtech unicorn.
Zego is an automobile insurance provider for businesses, from entire fleets of vehicles to self-employed drivers and riders. Zego believes that the problem with traditional insurance is its too expensive and time-consuming, and it no longer suits businesses who use vehicles to earn money. To date, Zego has raised $200 million.
The latest round of funding (said to be the largest ever raised by a UK-founded Insurtech), was led by DST Global and includes other new backers such as General Catalyst, whose founder and MD, Joel Cutler will join Zego’s board.
What Is Evolv? Human Security Firm Backed by Bill Gates to Go Public in SPAC Merger
On 3/8/21 at 5:31 AM EST
Evolv Technology, a venue and crowd security company backed by Bill Gates, is taking steps to go public in the second quarter of 2021.
The Massachusetts-based company has said it is combining with NewHold Investment Corp. in a deal that will give it a valuation of about $1.7 billion. Evolv said it expects to trade on the Nasdaq under the ticker EVLV,
The Wall Street Journal reported.
Evolv uses sensors and artificial intelligence (AI) to scan visitors to venues, pitched as an alternative to screening via traditional metal detectors.
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Quote To Start The Day: [S]tock declines of 30-40% are overdone, and growth names should begin to re-inflate. True, interest rates will likely rise over time. However, they still hover near record lows, and borrowers of all shapes and sizes can afford to pay more.
Source: Adam Johnson
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