Funding
Craft beer maker BrewDog turns to Crowdcube for GBP25M fund raising
As part of its business expansion drive, craft beer maker BrewDog is raising funds through Crowdcube, which is UK's biggest crowdfunding platform. The Scottish BrewDog will raise GBP 25million though two crowdfunding routes by next April.
Newscred to go beyond content marketing with new $42M fund
Newscred announced that it had successfully raised $42 million in additional funds. The company was established in 2008, which acted as a system for readers to rate an online story or publication's credibility.
Formula One Teams Burn up $300 Million of Debt, 64.2% from Lotus
The ten teams in Formula One auto racing are under a total debt of $318.2 million, and 64.2% of that belongs to Lotus. Lotus belongs to Genii Capital, a private equity firm founded by Skype investor Gerard Lopez. Creditors have been going after Lotus for the last several months. Its cars were almost impounded during the Belgian Grand Prix last weekend after former reserve driver Charles Pic filed a legal dispute.
Pentagon taps Boeing, Apple, Harvard to develop wearable tech for soldiers
US Defense Secretary Ash Carter on August 8 gave $75 million to FlexTech Alliance, a consortium of giant tech and research firms, to develop an electronic device small enough for soldiers to carry.