Top tech startup news stories you need to know this Thursday, March 1
Good morning! Here are some of the top tech startup news stories today Thursday, March 1.
App store for genetics startup Helix raised $200 million. Helix, a DNA-testing startup that runs an “app store” for your genetic code, has raised $200 million. The recent funding is led by DFJ Growth Fund led the series B round, and former AOL CEO Barry Schuler, a partner at DFJ, is joining the company’s board. Helix runs a marketplace for DNA tests that cover everything from ancestry to your preference of wine has raised $200 million.
China’s bike-sharing titans Mobike and Ofo launch in Israel. Mobike and Ofo are making their way to Israel. Mobike launches services as ofo plans to deploy some 1,000 bikes in Tel Aviv in the first half of 2018. In less than one and a half years, two Chinese dock-less bike-sharing companies, Mobike and Ofo, have become the fastest startups to produce valuations of $3 billion each.
Daimler buys remaining 25% stake of car sharing startup car2Go from EuropCar for $85 million. Daimler announced today it has consolidated its position in car2Go after it paid $85 million to buy the remaining 25 percent of car-sharing company, valuing car2Go at €280 million ($341 million).
Spotify officially files IPO of up to $1 billion, values company at $23 billion. Music streaming platform Spotify filed to go public on Wednesday with an initial public offering (IPO) of up to $1 billion, according to a report from CNBC. The music streaming service will begin trading on the New York Stock Exchange (NYSE) under the ticker name “SPOT.”
Startup Extraordinary Re to launch exchange for insurance risk. According to Reuters, Extraordinary Re, a startup focused on the reinsurance industry, plans to launch a new trading platform run by exchange operator Nasdaq Inc this summer that will let institutional investors buy and sell exposure to insurance risk, the company said on Thursday.
Volvo Cars adds technology startup investment fund under digital transformation remit. The iconic Swedish vehicle manufacturer, Volvo Cars, is accelerating its digital transformation by launching a new investment fund for technology startups. The company is planning to strengthen its handle on the technologies which are transforming the industry through a series of investments in up-and-coming startups.
Bitcoin price fluctuates on news of ICO crackdown. The price of Bitcoin has been unusually stable over the last few days, hovering in the $10,000-$11,000 range. Even though the cryptocurrency seems to have since recovered, the news of the top U.S. financial regulator probing the growing market for “initial coin offerings” (ICOs) may have impacted the price of Bitcoin.
CoWrks Foundry diversifies to enter startup mentorship space. India-based shared working space startup CoWrks Foundry, is now planning to go into mentoring and incubating early-stage startups. The company plans to incubate two cohorts of 8 startups each every year. The first cohort will be initiated in May.