Top tech startup news for today, Monday, June 3, 2019
Good morning! Below are some of the top tech startup news for today, June 3, 2019.
Japan’s SoftBank is reportedly struggling to raise new money for its latest fund. After investing billions of dollars in technology startups, the Japan’s behemoth is now grappling to raise new capital for its own fund. The firm previously raised $100 billion for its first Vision Fund. But investors are enthusiastic are about the second Vision Fund. The Japanese tech giant faces a lackluster reception from from some of the world’s biggest money managers as the company goes out to raise another $100 billion for its latest fund, signaling that a crucial initiative for the firm faces significant hurdles, according to a report from Wall Street Journal citing people familiar with the matter.
Twitter acquires Fabula AI, a machine learning startup that helps spot fake news. Twitter announced today it has acquired Fabula AI, a London-based startup that uses machine learning (ML) to help detect the spread of misinformation online. The terms of deal were not disclosed. In a post on Twitter, the company said: “Machine learning plays a key role in powering Twitter and our purpose of serving the public conversation. From onboarding people on the platform to connecting them with relevant conversations, we leverage machine learning (ML) across a multitude of our product surface areas.” Founded just last year Damon Mannion, Ernesto Schmitt, Federico Monti, and Michael Bronstein, Fabula AI develops (and patented) Geometric Deep Learning – the first AI technology able to learn from social networks.
Office App Raises €4.3 million in Series A funding for expansion. Office App, a proptech startup that offers a tenant and employee experience platform, raised €4.3M in Series A funding to expand its data and analytics offering and to further strengthen its position in Europe and expand into North America. The round was led by German VC Join Capital and Austria-based SIGNA Innovations, the Venture Capital Unit, along with UK-based specialist Proptech VC Pi Labs. Founded in 2015 by Thijs van der Burgt, CEO, the Amsterdam, Netherlands-based Office App provides an experience platform able to offer more than 65 modular functionalities in facilities, community, amenities and services to engage tenants and employees, based on end-user data and insights.
Flexible fully furnished accommodation startup Anyplace raises $2.5 million. Anyplace, a San Francisco, California-based startup that allows people to live in a hotel on a monthly basis, has raised $2.5 million in seed funding for accelerate growth and expansion. Founded by Koichi Tanaka and Satoru “Steve” Naito, Anyplace was created so that people would no longer be bothered by long-term contracts, setting up utilities, acquiring Wi-Fi, and getting furniture. One bedrooms start at $1,500 per month and are available on-demand, furnished, with utilities and internet included.
TransCure bioServices secures $2.8 million funding to accelerate global growth and expand its in-vivo preclinical pharmacology services. TransCure bioServices, a preclinical services startup dedicated to in-vivo full human immune system mouse models, has secured $2.8 million (2.5 million euros) funding to widen its range of services and to investigate new exciting areas in the field of full human antibodies. The new capital infusion will enable the company, healthy and profitable for the last three years, to accelerate its international sales growth as well as to expand in vivo preclinical pharmacology services offers into new product lines. In conjunction with the funding, the company also announced that Marc Le Bozec, Managing Director of Arbevel Life Sciences Crossover I Fund, will now join its Supervisory Board.
Amadeus invested in Volantio, a startup that help airlines manage overbooked flights. Volantio, a startup that helps airlines rebook flexible passengers on emptier flights, had signed investment and partnership agreement with Amadeus, the travel technology giant. As part of the deal, Amadeus’ startup investment program, Amadeus Ventures, will take a stake in the Atlanta-based startup. The terms of the deal were not disclosed. Founded in 2014 by Azim Barodawala and Fenn Bailey, Volantio is a tech startup focused on increasing asset utilization and customer experience for airlines around the world.
Product Guru raises £300K in funding to develop its platform. Product Guru, a Glasgow, Scotland-based online platform described as “Tinder for retail buyers and product suppliers”, has raised £300k in funding for further development of its platform. Founded and led by Simon Coyle, Product Guru is a product discovery platform that allows suppliers of products across all FMCG, home, gift and travel categories to showcase their products to retail buyers. The platform allows suppliers to showcase their products to relevant buyers, and provides details of the products in a uniform way.
WorldRemit raises $175 million in Series D Funding to drive global growth and diversify its product offering. WorldRemit, a money transfer and mobile payment startup that helps migrants send money to their loved ones all over the world, has raised $175 million in a Series D funding round to further drive global growth and diversify the company’s product offering for both money transfer senders and recipients. The round was led by returning investors, TCV, Accel and Leapfrog Investments. Founded in 2010 by Catherine Wines, Ismail Ahmed, and Richard Igoe, WorldRemit is an online service that lets people send money to friends and family living abroad, using a computer, smartphone or tablet. WorldRemit is a global leader in smartphone and online payments – providing a convenient, low-cost alternative to expensive brick-and-mortar agents.