Top tech startup news stories you need to know this Thursday, February 15
Good morning! Here are some of the top tech startup news stories today Thursday, February 15.
Chicago Startup Aerospec Technologies won the Clean Energy Trust Competition. Aerospec Technologies, founded by Lance Li, a recent graduate of Northwestern University’s Kellogg School of Management, came in first place out of eight other university-based, Midwest and cleantech startups, and was awarded $50,000 at the Feb. 8 competition at Chicago’s manufacturing incubator mHUB.
Crypto asset lending startup BlockFi raises $1.55 million. New York-based startup BlockFi, which provides loans to crypto-asset owners using their bitcoin and ether holdings as collateral, has secured $1.55 million in a just-closed funding round. The company, which received backing from ConsenSys Ventures, SoFi and Kenetic Capital among others, wants to “bridge the gap” between capital markets and the cryptocurrency ecosystem, according to a press release. In doing so, the company expects to tap into a market of new investors who need to borrow funds.
Microsoft rebrands its startup programs with $500 million commitment and new co-selling program. Microsoft is rebranding its startups program and investing $500 million in it over the next two years. Microsoft is revamping its support program for startups. Yesterday, Microsoft rebranded the program as “Microsoft for Startups.” The company will commit $500 million to the program over the next two years, largely by offering resources such as Azure credits and sales support to startups.
Israeli startup CommonSense Robotics raises $20 million. Israel-based CommonSense Robotics said on Thursday it has raised $20 million in an early-stage investment round, bringing its total funding to $26 million. The company will use the funding to scale up CommonSense Robotics’ deployment rate, develop their next generation of robotics and artificial intelligence and expand global operations. The startup’s technology enables retailers to offer quick and affordable grocery deliveries.
Startup Reflektive raises $60 million to kill the annual performance review. Reflektive has raised a $60 million Series C funding round to tackle the problem with annual performance review. The latest funding is led by growth equity specialist TPG Growth. The company did not disclosing its valuation at its new financing.
Electric airplane startup Eviation aims to enter service in 2021 after battery deal. Electric airplane startup Eviation Aircraft Ltd is aiming for its 9-seat commuter aircraft to be flying passengers by 2021 after signing up South Korea’s Kokam as its battery supplier, the Israeli company’s chief executive said on Thursday.
Kids clothing startup Primary nabs $20 million. Primary, a New York-based kids clothing startup has raised nearly $20 million in new venture capital funding, according to an SEC filing. The current funding is led by a pair of former Diapers.com execs.