Melbourne-based tech startup IntelligenceBank raised USD2 million in a seed funding round led by local investment firm KOTJ. The funds will be used for the company's market and workforce expansion.
Funding
Africa not ready for capitalism
Dr. Peregrino Brimah of Every Nigerian Do Something or ENDS said Africa is not ready for Africapitalism at this time. He cited the reasons for this in his essay entitled "Is Africapitalism Good Or Bad For Africa?"
Tyra Banks' Fierce Capital backs a mobile advertising app
Tyra Banks has invested an undisclosed amount on Locket, a mobile advertising app made for Android smartphone lockscreens, through her company's investment arm Fierce Capital.
TCAS Online closes EUR650,000 in venture capital round
TCAS Online, a student accommodation management systems provider based out of Dublin, Ireland, received EUR650,000 in fresh funding from private investors including Kernel Capital Partners.
Creators of Google Wallet secures USD7 million in Series A funding round
Index, a startup that provides software to enhance customer experience in physical stores, received USD7 million in Series A investment from investors including Innovation Endeavors, of which Google executive chairman Eric Schmidt is a co-founder.
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Simplivity's Series C investment round was oversubscribed, raising USD58 million in capital led by Draper Fisher Jurvetson and Kleiner Perkins Caufield & Byers and participated by new and existing investors.
Singapore's Ascendas Pte Ltd. on Tuesday said it would raise SGD600 million (USD481.6 million) to invest in real estate in India. Singapore's sovereign wealth fund, GIC Pte Ltd. would be a principal investor in Ascenda's fund.
France-based black car service provider LeCab raised USD6.8 million (EUR5 million) in a Series B funding round from undisclosed investors, to be used for the expansion of the company's service and manpower.
New York-based startup LightSail Education received USD3.5 million in a Series A funding round led by Viceroy Capital Advisors for marketing an app that helps improve students' literacy.
North Carolina-based payments platform Spreedly secured an additional USD500,000 in seed funding from Belgian angel investors group Emerge.be to be used for product development and hiring of additional staff.
San Francisco-based Dropbox said that it targets to raise USD250 million in its third funding round. If successful, this would give the web storage company a valuation of more than USD8 billion.
Vertical ecommerce portals or retailers that sell only one category of healthcare products are getting the support of investors, according to a report on The Economic Times.
California-based mobile security firm Mojave Networks raised USD5 million in a funding round led by Bessemer Venture Partners, to be used for its expansion and marketing efforts.
Two private equity firms, Axon Capital and Forum Synergies, together bought a minority stake in Bangalore-based online food ordering portal Justeat.in for an undisclosed amount.
