Top tech startup news stories you need to know this Wednesday, February 7
Good morning! Here are some of the top tech startup news stories today Wednesday, February 7.
A little-known startup turned profitable by staying away from India’s Silicon Valley. A 7-year-old Indian startup, Vantage Circle, is able to become by taking a rather unconventional approach of operating from an unusual location and staying away from venture capital funding. Vantage Circle was founded in 2011 by Partha Neog and his classmate from high school, Anjan Pathak. The startup operates an employee rewards and benefits platform. The company boast of customers include heavyweights such as Infosys, Wipro, Deloitte, and JP Morgan.
ExxonMobil invests in on-demand vehicle care startup. ExxonMobil announced today it has invested into Yoshi Inc., a Silicon Valley startup offering on-demand fuel delivery and vehicle care service. As a leading strategic investor, ExxonMobil gains a voting seat on the board of directors and will now provide Yoshi Inc.
SoftBank to IPO mobile unit to fuel startup strategy. SoftBank Group said on Wednesday it will begin preparing for an initial public offering of its mobile unit, SoftBank Corp.
Alibaba Partners with Israeli Startup to Supply a Cloud Database in China. Alibaba Cloud, the global cloud computing arm of China’s Alibaba Group Holding Ltd., is partnering with data analytics startup SQream Technologies, the company announced Wednesday. The Tel Aviv-based SQream Technologies develops a GPU database for large-scale data analysis.
Big car-auction firm KAR Buys SF Mobility support startup Stratim. Big Indiana used-car auction company KAR announced Wednesday it acquired Stratim, a software startup that organizes maintenance and repairs for car-sharing fleets. Stratim had raised a total of $36 million from investors including Bessemer Ventures, BMW iVentures, Norwest Venture Partners, and Trinity Ventures.
Deutsche Telekom pairs up with Zeiss to create a smart glasses startup. Deutsche Telekom AG has created a digital glasses startup with manufacturer Carl Zeiss AG, as Europe’s biggest telecoms company joins the race in developing usable augmented reality devices. The startup, Tooz Technologies Inc., is developing glasses using optics invented by Zeiss, combined with Deutsche Telekom’s connectivity services — in a bid to make spectacles that are lighter and use less energy.
New fitness-technology startup Mirror wants you to trade your gym membership for a mirror. A new fitness-technology startup, Mirror, wants to stream exercise classes in your living room–no TV screen or equipment required. Here’s what you do need: a mirror. The startup has developed a responsive device that looks like a full-length mirror and will stream a range of on-demand personalized workouts, including yoga, Pilates, cardio, strength, and boxing.
Captain401, now Human Interest, raises $11M to open build a 401(k) for small businesses. Startup Human Interest has raised $11 million to give small businesses access to a 401(k). Captain401 is changing its name to Human Interest. The startup’s latest funding round was led by Wing VC, a firm founded by partners from Sequoia and Accel, as well as former Wealthfront CEO Adam Nash.