VENTURE CAPITAL POST

Chicago, US-based digital interactive application developer elevate DIGITAL scored an additional $3 million in its Series A funding round from SFX Entertainment to expand into new markets.

Makati, Philippines-based cooling solutions provider Concepcion Group is buying a stake in elevator company Otis E&M Co Philippines as a joint venture with Hartford, US-based multinational conglomerate United Technologies Corp (UTC) for an undisclosed amount.

Pasadena, California-based kinetic desk maker Stir raised $1.5 million in a seed funding round led by Vegas TechFund and Zach Ware to scale up its production and distribution efforts.

Toronto, Canada-based hardware engineering collaborative platform Upverter bagged $2.3 million in a seed funding round led by Version One Ventures to grow its enterprise business and develop its product.

Redwood City, US-based video streaming service Qik will shut down on April 30 after its features have been integrated into Skype, which acquired it for $150 million three years ago.

San Jose, California-based LEGO rental startup Pley closed $6.75 million in its Series A funding round led by Allegro Venture Partners to fuel its product, workforce, and international expansion efforts.

Bangalore, India-based payment solutions provider Innoviti nabbed INR10 crore in debt funding from Tata Capital and other investors from London and India to scale up its Middle East operations and beef up its management team.

Twitter is now offering an alternative way of sending Tweets via SMS after Turkish Prime Minister Recep Tayyip Erdogan lambasted social media for linking him to a corruption scandal and blocking the social network in the country.

New York, US-based brand advocacy startup Crowdtap picked up $5 million in a Series B funding round led by Foundry Group to continue inspiring its customers to create quality promotional content on blogs and social media sites.

Internet company Mail.ru signed an agreement to buy the 12% stake of Ivan Tavrin in Russian social network VKontakte.com for an undisclosed amount to bring its total holding to 52%.

San Francisco, US-based health tech firm Metabiota pocketed $2.38 million in a venture round to monitor emerging threats of viral diseases around the world using big data analysis.

Tysons Corner, US-based secure digital ID network ID.me scored $10 million in combined venture capital and debt funding to build its own online marketplace for its users.

Mayor Michael Nutter announced the five startups in Philadelphia that will each receive a $25,000 grant from the Commerce Department's Startup PHL Call for Ideas to promote entrepreneurship in the city.

American rap superstar Kanye West is buying 10 Burger King outlets across the UK, France, and Italy for an undisclosed amount as a wedding present for fiancee Kim Kardashian.

Brisbane, Australia-based diversified alternative asset manager Blue Sky Alternative Investments entered a deal to purchase Adelaide-based hedge fund Investment Science Asset Management for an undisclosed amount.