San Francisco startup studio Expa raises $50M in funding
Garrett Camp's Expa has just secured $50 million in funding from its big-time investors. Based on a regulatory filing, the startup studio would go for the $75-million mark in this funding round, according to TechCrunch.
Aside from Camp, Expa's investors include Virgin's Richard Branson, HP's Meg Whitman, Li Ka-shing, Google's Ram Shiriam, David Bonderman of TPG, and Solina Chau. Other participants in the financing are First Round Capital, Kees Koolen of Booking.com, Sherpa Ventures, SVAngel, Lerer Ventures, Matt Mullenweg of WordPress, Scott Belsky of Behance, John Spear of Undercurrent, and Tim Ferriss, the report detailed.
Expa will provide seed money for each startup through Expa Capital, its investment arm. The amount will range from $500,000 to $1 million. The startup studio will then help the founder develop the startup until it releases its product to the market, Tech Cocktail explained.
The startup studio develops products and services before they are scaled. For now, Expa wants to focus on mobile app and marketplace startups, the report added.